New-York tribune., 1867-01-01
TIE ADrlNCE or FCGoPERITIyE SOCIETIES

THE .fDl lNIE Or tO-bIfNti ~ r. DOCiAs iIsc
~ ENGLAND.
A very interesting statistical paper, which has
recently made It's appearance in England, gives
the annual return, and contains the accounts,
for the year 1855 of the industrial and provi-
dent societies established in that country, and
registered in accordance with an act Of PaIlia-
mcnt passed in the year 1858. Though small
cooperative stores had previously existed
in the manufacturing districts, the first IN
stance of cooperative trading on scale ot
any importance was the establishment more
than 20 years ago, in Lancashire, OF the Rochdale
Equitable Pioneers, when a number of working
men subscribed a sufficient sum OF money to
start n store in which the ncceSsaries OF life
could be purchased at a little in advance OF the
wholesale cost. Their primary object was the
supply of their own requirements, but their doors
were open To all who chose to purchase at their
counter and as they went TO the wholesale deal
ers money in hand for their supplies they were
enabled to offer to the public greater advantages
than could be obtained elsewhere. 1t is no cause
for wonder that their trade was rapidly in
creased and that, while their own wants were
provided for with good articles at cheap rate,
they conferred a great benefit upon such OF
their ncghbors as, though not united with
them in the enterprise, were ready to reap ITS
advantages As the Association was open to all
operatives who felt inclined to invest their earn
ings in it, the number OF members was speed
lily augmented, SO much SO that in the past
wear it counted up 10 over 5000 while the cash
received for groceries and provisions during
1865 amounted to not less than S9ol,l1O. Ii Is
worthy of remark that all the transactions OF
the Association are for cash--it neither t.kes
nor gives credit in its purchases and sales.
Nevertheless, u small portion of its capital
is composed of loans made to it by persons
who derive great advantage from the invest
ment. The share capital Of the Association
at the end of the year was $3lG,j3j, the loan
capital $3.50 and the value of its assets
and property $399S00. The expenses for
the year were $4S,6O, and the years profits
Sl2j,7SO. 1t paid $l4,2jO for interest on shares,
S1Ol $40 for dividend Oh purchases, and $2,GS5
for educational purposes. From these figures
it will be seen that fair business profit is
placed upon the goods sold, and that at the end
of the year, after deducting rhe expenses and
interest on capital, the net profit is divided
among the purchasers, in proportion to the
amount they have expended at the store during
lIlt year. lHt IulclcSJ p,slu upOH JllC olltllo
capital appears to be about four per cent, and
the average profit upon goods sold about twenty
per cent; but considerably more than half the
latter was returned to the purchasers in the
form of dividend.
Since the Rochdale Equitable Pioneers led
the way, cooperative societies have so multi
piled ~ England that, at the close of the past
year, lle number whose rules have been certi-
fled by Mr.. Tidd Pratt, the Government Off
cal under whose charge those institutions are
placed, was 500 The return TO which we have
referred gives the accounts of AIT carrying on
business as grOcers, dealers in provisions and
in dry goods, and as shoemakers. AT the close
of 1866 these societies had 1856 members
their share capital amounted to $3,S06,565,
and their loan capital was S563GG5. They
paid S15,315,440 for goods bought
during the year, and received SlG,S69,
1856 for goods sold during the same period.
They state their profits realized within the year
to have been $780, 1870, out of which they paid
dividends on the shares, and dividends on pur-
chases made from the societies, and provided
for reserve and depreciation funds. At the end
of the year the value of their assets and prop
erty was $5,52S, ,425 the money In hand S5Si6l5,
and the trade liabilities $13O7,40 Ninety of
the associations in the LIST are IN Yorkshire,