The Stourbridge Observer, Cradley Heath, Halesowen & District Chronicle.
Stourbridge, West Midlands, England, 1868-02-29 00:00:00

ANNUAL MEETING OV Tnn LYE CO-
OPERATIVE SOCIETY.

The Annual Soiree of the members and friends of the
above society was bold In the National School-room, Lye.
There was a large number sat dolin to tna, after *lnch
the chair won OCCUried b 7 eten Ilomiroy. Esq. The
Rev. It. Robertson, incumbant, was present and also,
tlr. D. W. Foswell, of Loudon, who had been announced
to deliver a leetttre.

The Chairman briefly opened the proceedings by a
low general remarks.

„
M. John Pearson next addressed the meeting. In
the course of his remarks he said that the society began
seven years ago with a capital of £l5 only. In seven
weeks they did business to the extent of £72, and the
whole of the profits were divided among the members.
The premises now eeeupied by the society were then
taken, and some prophesied that the thing would not do.
But he had faith that if they once had the thing fairly
started it would go on ; and so it haul gam, on ever slime
tali the present time. They had had in the course of
these seven years three quarters that haul turned out un-
favourable ; but in addition to paying the working ex-
penses of the society, interest upon the capital at the
rate of five per cent., they had returned to the members
or purchasers about Is 21 in the pound upon what they
,hail laid out. Last year they had one bad quarter, when,
1 instead of making a profit they hardly got ax Ratial as
I was sufficient to pay interest upon the ennead and the
working expenses. During the other three quarters,
however, they had done pretty well. In answer to
questions from Mr. Tisid Pratt, the society had stated the
members bad actually paid during the seven years £O2l
las Gld ; and dividends had been declared and placed
to the credit of the members to the amount of £822
its ell. It therefore appeared that insignificant as that
society was, it had paid upwards of £2OO of dividend.
In-sot year the contributions of the members amounted to
T.lOO 2s eld ; end the dividends declared and pieced to
th., credit of the members amounted,to £223 es, in the
throe quarters lie had mentioned. l'he sum of £23
24 91 had been paid over as interest on the mita'.
MAW; a bald of £152 lfis eld for last year. The
number of members in the society wan 2,40, which was
an ben-use of II during the last year. Now, if such.
SLICOPR4 bud etteuided their eftinte daring the seven years
they had been whelly inexperienced, lie thought they
might reasonably exp. Cl greater success in the future.
'They were all swore that the last year had been a year of
great misery and ilepreesion in trade, arid this, of course,
haul told eulvcrsely upon their society. Their capital hind
not inctoeased, and it arose from the circumstance that
many of the members had been forced to risk for R
portion Of their etipitel, in order to keep thou alive and
he believed that the society loot thus saved many irOM
applying to the Board of Guardians. He had a liens
convichon that the society would ace better days than
It haul in the past—(cheers).
The Rev. 1). Robertson addressed the meeting, and
congratulated those present on the continued presperity
of the society, and in conclusions said he was glad that
they had induced Mr. Homfray to take the chair.
Mr. Foxwell then proceeded to deliver his lecture.
He said there was a tune when it was thought the press
IVILS to be entirely at the use of persona of position and
who had received& superior education ; and if a working

man had persumed to.address a meeting he would hav‘e.
been looked upon as a person possessed of a spirit of
egotism, as vain in the extreme, sad eikuply looking for
public notoriety. lint now working men were invited
to deliver their opinions on the platform; and they were
even about to be admitted into Parliament. It had been
s fatal miatake in the past that divergence between the
different classes of the nation. The lecturer then pro-
ceeded to demonstrate at great length that it was a
universal law of nature that all sootier t beings sought
after the highest ilaplelleNa sllli enjoyment of which
they were capable, and that it was intended by the merci-
ful Creator that all his creatures ahould enjoy happiness.
Man, he contended, could not elijoy happiness in isola.
lion, and that just tn proportion as he brought to bear
upon bin position the power of association would his
happiness and enjoynkent increase ; and in the value
' proportion that he negleeted that power of his nature
would destitution, misery, vice, and crime abound. Every
111101 ought to be asking himself what he could do to
make the world better than lie found it—(cheers)—and
when he said no lie was giving the opiMon of moo of
better education and better ',minima ban he had. Among
them Archdeacon Saudford, who said that he believed
trine the bottom of his soul that,the foremost duty of all
citizens, and if Christian men especially, at the present
crisis was to do fill in their power to medieval° the eOll-
- and brighten the hopes of the indadrial classes of
the community. The venerable archdeacon also said--
and lie used very strong language—that while men could
do no more than merely keep up their animal nature it
was mere Cant to preach to them. Now, co- meration was
a means of raising the conditian of the working classes
and of brightening their prospects. What was a co-
operative society ? Why, simply a means of distributing
honestly and justly the necessaries of life to one another.
In his opinion co.uperatiou was the only just system of
trading; and that the system of every man running the
race of competition iwide it impossible for is inan to be
strictly honest, unless he made up Ids mina to be very
poor all Ids life-time. The Times had lately bad the
effrontery to state that commerce had nothing to do with
Christianity. Ile would have believed it if it had said
that Chrstianity had nothing to do with, commerce as '
it was now carried on. If that was not no, why should
tradesmen always desire that their customers should not
have the sonic kilowledge of their business as them-
elves? In the co-operative system they first allowed
five per cent, upon the eapibil subacribed• -they stamped
tlmtas the value of the coin being turned over; and that
was always the first claim upon the profits made in the
trade. After that they paid the working expenses, and
having gets profit left, it went back to those who created
it—the sab,cribera of the capital for the Bodily. Now,
in this country there are five millions of people who
were insufficiently clothed au.l fed, and consequently who
coal not enjoy health, happiness, and comfort. Admid
all the girat wealth of the country, after all their success.
ful ummierce and commercial enterprise, that was what
they luau come to—fivc millions of persons insatlMlently
fed end clothed ; and of coarse the tame would some when
there would hu seven or also ;salons if the preiont tom.
suercisl system continued. Now, the working classes
must work out their own salvation. " Who would be
free, himself mast strike the blow." The so-operative
system placed in their hands the means of redeeming
tncir position. That system gave them back the profits
that were made by trade. In the last returns of the
co-operative movement, published in 1867, it was stated
that iii 18643 four millionu and some odd thousands stor.
Bag Lad been turned over in seven co-operative sociatist,
awl that the whale et these aoaidlae matte a profit of