The Sun.
London, England, 1868-09-08 00:00:00

THIRTY PER CENT. PROFIT.

While Tories and Liberals are disputing on their Tele:
tive claims to an economical management of the national
income, it is not a little astonishing, says the Pall
Mall Gazette, to turn to the balance-sheet of the
well-known Rochdale Co-operative Society for the last
year, now accessible to the public. That society received
in 1867 no less than £283,422 for groceries and other pro-
visions, for clothing and coals. But that is not the
remarkable feature in its prosperity. What is most sur
prising and suggestive is the enormous interest which it
paid to its shareholders as a trading concern. Its capital is
£116,000 in £1 shares. In 1867, after paying all the
expenses of buying and retailing its goods, interest on
shares, and allowance for depreciation of buildings and
use of fixtures, there remained a net profit, to be divided
by way of bonus among the shareholders, to the
amount of £35,048. In other words, the shareholders
made about 30 per cent, upon their capital, without
owing one farthing by way of liability, and not having
one farthing in the way of outstanding debt owing
to them. The fact is simply amazing. How many capi-
talists, large or small, make anything like such an interest
upon their money in the way of business, dealing upon
the credit system, and charging fabulous prices to their
customers? And the one great practical conclusion
to be drawn is to the effect that the waste of labour
involved in the complications of our modern credit
and competition system is nothing less than enormous.
With the Rochdale working men not a shilling is expended
in the apparatus of management which is not absolutely
necessary for the transference of goods bought wholesale
to customers, who buy them again in retail. The great
aim of the trader, which is to act as the medium
between the producer and the consumer, is here
accomplished in its simplest form, and no man's
labour is thrown away by its being devoted to
unproductive purposes. That all trade should be con-
ducted by the - same simple machinery is, of course,
impossible. Nevertheless, it is as well now and then
to refresh our fading convictions on the elementary
truths of political economy by studying an actual case
which shows how fertile a thing is capital when it
is devoted to the reducing unproductive labour to a
minimum. We should like to see a comparison between
the unproductive labour wasted in our dockards and
Government offices with the amount of the same labour
by which the Rochdale shareholders contrive to find them-
selves in the receipt of 30 per cent, per annum upon their
investments.

At Rosedale, in the North Riding, a young miner,

named Thomas Taylor, was the other day literally smashed
to pieces by the falling of a large block of stone, some tons
weight, while he was at work in the "Brockers" iron-stone
mine.

On the names of the grand jury being called at
the Surrey Sessions yesterday, two persons who had not
put in an appearance after being summoned were fined £3
each. At the Middlesex Sessions, this morning, a grand
jury was formed after considerable difficulty. About a
dozen who did not answer to their names, or sent excuses,
were fined £lO each.

A fatal accident has occurred on the Ulverston
Sands, by which three young men lost their lives. From
the evidence given at tho coronei's inquest, it seems that
four brothers, named Fletcher, aged respectively 27, 17, 11,
and 9 years, were attempting to cross the Ulverston Sands,
on their way from Whitehaven to Wigan, when they were
caught by the tide, and three of them were drowned. The
oldest saved himself by getting on a rock.

A cabman was charged at the Southwark Police-
court yesterday with a murderous assault on a man with in-.
tent to rob him. They had driven together to a publichouse,
where they had been drinking till two in the morning. The
prosecutor was afterwards knocked out of the cab by pri-
soner and another man, and was rendered insensible. Tho
prisoner was sentenced to two months' hard labour, and_,
the licence was revoked.

On Sunday a brutal murder was committed near
Altricham on the person of Thomas Jenkinson, foreman of a
brick and tile works, by a gang of drunken Irish farm
labourers. Several persons were attacked by them, and two
wounded. They met Jenkinson and two youths with him,
and battered in the skull or the former with bricks and
palings. Some of the murderers have been apprehended.
The two youths will be able, it is said, to identify seven of
the prisoners.

Yesterday morning, about 1 o'clock, a fire of a very
serious character happened on the premises of Mr. Wright,
auction-room proprietor and valuer, No. 8, Liverpool-
street, Bishopsgato. The upper floors were occupied by
lodgers, and so rapidly did the fire extend that in less than
five minutes the whole building was in flames. Seven per.
sons, including a female 70 years of age, were rescued by
Robert Steer with the fire escape. Mr. Wright was in..,
mired, but none of the other sufferers wore.

ANGLING IN THE THAMES.—Punt fishing in the
Thames has been very good of late. A gentleman at
Twickenham in one week took with rod and line 200
pounds of roach, dace, and a few barbel. Surely these
facts present an additional reason why the sport and amuse-
went of so many should not be destroyed by a few poachers.
If a new Act were passed enabling the magistrates to send,
persons so offending to prison without the option of paying
a fine, the practice would soon be put a stop to, but never
will without some such enactment —Middlesex Chronicle.

The Western Morning News describes a very absurd
scene which took place at Looe, East Cornwall. After Mr.
Kendall, Conservative
.candidate for the constituency had
addressed the electors, a Rev. Mr. Ashworth asked Mr.
Kendall if he was aware that the Prince of Wales had stated
in Switzerland that he was in favour of Romanism, and
had sent to the Popo a present worth £50,000. What Mr.
Kendall had to do with the Prince of Wales does not appear,
but he seemed hound to answer his questioner, and said that
he should not believe the statements. Mr. Ashworth in-
sisted on their accuracy, and said that ho had the high
authority of Dr. Campbell, of Scotland, for them. Mr.
Kendall maintained that the Prince of Wales certainly had
not £50,000 to give away, probably not 50,000 pence.

The Berlin Military Gazette announces that a
fort has just been built at the entrance to Kiel harbour,
which, together with the fortifications now existing, would
render it impossible for an enemy's fleet to approach the.
town. The fort is armed with twelve rifled 72-pounders
from Krupp's gun factory. The Gazette adds that a monster
cannon—a 370 pounder —has also been manufactured
by Krupp for the protection of the coast. Tho inner barrel
of this gun is made of a single steel casting of 840
cwt., and is strengthened by three massive steel rings,
weighing 600 cwt. The total weight of the gun is 1,000
cwt. The gun-carriage is also of steel, and weighs 300 cwt.
The solid shot are of steel, and weigh 1,100 lb. each ; the
shells weigh 1,181 lb.

Mr. Wombwell, a cab proprietor at Caledonian-
road, applied to Mr. Cook,, of the Clot-Unwell Police-
court, for his advice under the following circumstances :
He said ho was a cab proprietor, and be did not
know what to do, as if ho kept his cabs at homo two suc-
cessive days Government would summons him and he would
be fined. lie sent his cabs out, and twelve men turned them
over, and on Saturday and this morning he told his mon to
go out, but they would not go, saying they IN era afraid.
Mr. Cooke said ho could not compel the men to go out
with the cabs, but if any person was brought bolome
him for wilful damage or intimidation he would punish them
very severely. The applicant had better toll his men theta
any one Interferes with thorn they will he punished, and
perhaps they will go out with the cabs, Tho applicant
ocl rdirgd, "fr