CO-OPERATION IN SCOTLAND.

Evening Star, Issue 9833, 23 October 1895, Page 3

CO-OPERATION IN SCOTLAND.

The directors of the Scottish Society, in issuing the report and balance-sheet for the 107 th quarter, ended June 30 last, state that the business shows continued and increasing prosperity in every branch and department. The turnover amounted to £852,452 6s 6J, the largest thirteen weeks’ turnover in the history of the society. The increase over the corresponding three months of last year amounted to £62,266 ss, being at the rate of 7.8 per cent. After meeting all charges, including interest on capital, the profit, with balance from last quarter, amounted to £35,619 0s 9d. This sum was allocated as follows £22,453 lls Id in payment of dividend at 7d and on purchases to members and non-members respectively; £4,936 as extra depreciation on buildings and plant; £1,775 18s lOd to reserve fund and £1,168 lls lOd as bonus on labor, leaving a balance of £5,284 I9s to carry forward. The result of the trading at (jhancolot Mills does not appear on the surface quite satisfactory, but during the quarter ended June, after meeting ail expenses, including depreciation and interest, a net profit of £907 Is 2d was realised. The preceding quarter had to meet the preliminary difficulties and losses incidental to the starting of the business, aud the fact that a profit has been realised during the last quarter shows that these have now been overcome, and makes the prospect for the future more reassuring. The distributive departments show’ increases varying from 2 to 16 per cent., the latter rise being in the boots and shoos, while the drapery rose 12 per cent. The productive factories at Shieldhall showed a still further improvement, where the rise was from 14 per cent, in the cabinet work to 33.7 per cent, in the tobacco factory.