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FIRST REPORT

NORTH OF ENGLAND

Co-^prratilJi: (lolljolfsalc ilnDnstrial anb probi^ntt ^ocictn,
LIMITED.

^rcEiAcnt:' '
MR. ABRAHAM GREENWOOD, Rochdale.
Ercasurcr:
MR. COUNCILLOR SMITHIES. Rochuai.e.
(tominittcc
MR CHAS, HOWARTH, Hevuood. I MR .1 NIF.LD. Mosslkv,
MR .1 HILTON. MiDMLETON, I MR THOMAS CHEETHAM, Rochpale.
fflasliici- :— MR. J NO. C' EDWARDS.
]Bniicr:— MR. JNO. SIMPSON.
?!niihcrs:-THE MANCHESTER AND LIVERPOOL DISTRICT BANK.

OFFICES ;-3, COOPER STREET, AND BACK MOSLEY STREET, MANCHESTER.
j\t tlie various Co-operative Conferences which have been held in Lancashire during the past four years,
Ihe question of wholesale buying was constantly pressed upon the attention of the assembly by numerous
Delegates, until it was found necessary to convene a Conference specially for the discussion of the subject.
At this Conference almost all the Societies in the North of England were represented, and the deliberations
resulted in an unanimous decision to form thia Society.
The object sought to bo attained was to bring the producer and the consumer into more immediate
contact, and thus enh.i.nce the |irof)ts of Co-operation by diminishing the cost of distribution. This, we
believe, can be done with the least possible risk, by aggregating the purchases of the whole, or part, of the
Societies m the North of England, and buying the commodities required, with ready money, in quan'ities
Bufticiently large to command the best markets. By securing Societies against imposition, in the days of
Iheir infancy and inexperience, and enabling them to purchase on more advantageous terms than the largest
Societies have hitherto done, we shall ensure the healthy extension and consolidation of our movement.
Seven weeks (the period that has elapsed since we commenced business), is not a very long time in which
to test the soundness or probable future of our enterprise it has, however, been sufiiciently long to develoi>
the dangers to be avoided, and the obstacles to be overcome. We are happy in being able to state that our
chief difhculty is capable of an easy and immediate remedy, as it lies within ourselves. By referring to the
accompanying Balance Sheet it will be seen that fifty societies have joined our federation ; these Societies
rejireseiit a. constituency of 17,.5-J.'3 members, and are doing an aggregate weekly business of £9,500. At
least £-5.000 of this sum is expended in the purchase of commodities in which we deal, and yet we have only
been favoured with a business of £.5,900 in seven weeks. How is this? Is it because the Members of the
various Societies are opposed, or indifferent to our new enterprise? That cannot be, as it is the creation of
their own Delegates, and they have also found the capital to enable it to operate. Is it the fault of the
Committees'.^ By no means, as they can have no interest in allowing their capital to be frittered away in
making good the debciency in our working expenses. Where the chief obstacle lies, therefore, is plain, and
It is for the Members of Societies to say how long success shall be postponed. Many Societies have already
testified to the advantage they have derived from our operations. Siill greater benefits are in store, if we are
only true to ourselves, and are determined that the general interests of Co-operation shall not be sacri&ced
to the prejudice, or antagonism of individuals.
Promptness in forwarding Second Halves of Bank Notes, is necessary, as delay in this respect curtails
our capital, and cripples our action.
Bankers' Drafts, (or the same reason, should be made payable on demaud, and not several days after date.
Societies in a position to advance additional capital, should do so , we shall then he in a better position
to take advantage of rising markets.
Orders sent by post, should, as far as practicable, he lorwarded on Monday night, as they will then be
executed more promptly, and give the Society greater scope in [lurcbasing.
The accounts for the nexl IkiU year will be made up on Tuesday, October '2.5th, and Societies are
icqueslcd to forward to the Auditors a slatenieiU. of the balance due to or from them at that date.
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