THE WORKERS' CO-OPERATIVE SOCIETY OF NELSON, LTD.

NZ Truth, Issue 943, 22 December 1923, Page 13

THE WORKERS' CO-OPERATIVE SOCIETY OF NELSON, LTD.

Eleventh Quarterly Report and Bal-ance-Sheet.

There has been a small increase In the numbers of the membership of this society. The number is now 804, a g^ain of 14 made during the quarter. Growth m matters of this kind is very much needed, for m suoh affairs numbers count greatly ih tho successful returns to be grained m the trading of the concern. Taking a wider view of the matter than that involved In a cheap pound of tea or sugar, tho ethical meaning of numbers is so im* portant that one need not be forgiven for taking such a view. This is a hard world, driven by the pulsations of greediness combined m the worst form of individualistic selfishness. The only hope for relief from the dire consequences following upon theae conditions is to counter them by true cooperation. In the latter form of combination, mellowed and sweetened by brotherly love, strengthened by the force of conyinced votaries, the whole field for social service is thrown open for mankind. It will take a vast army of brothers, then to make the peaceful and profitable onslaught •^■■'fMnat i*-M*<-flsted capitalism, which will In the end prove a blessing to both. "Cambist" respects capitalism for Its growth and power. It has m some oases proved to be the best for the world at largo. But there ts a darker side to lt than most peirsone oar*, to point to. Ths poverty and tho ortine, whioh have their roots ln RUTHLESS EXPLOITATION of the people, are principles m capi. tallsm which reveals how cruel is the profiteering system. Capital does not mean service. It means profits, no matter how the latter may be derived. Now, co-operation m full blossom moans service to all within its bounds, while the profits accruing from its activities are distributed mutually — one portion to the society and the feat to the individual members. Next to numbers, then, the true co-operative society Is the object With whioh all members should be concerned, the latter coming last. Therefore, at the beginning, selfishness is exorcised and brotherly eervioe takes flrst place. "Cambist" hppes that the membership of the Nelßon concern will grow with each quarter. Already there are rebates of Is AA m the £1 allowed on members' purchases. This Is a voucher for the claim that unity m this form is not without Its special advantages to the individuals making up the corporation of worthy motives and homely virtues.

The balance-sheet looks a very sound one. With a paid up capital of £8432 It has a mortgage of £800 and other debts owing* amounting to £553, also various reserves amounting to £380. On tho other side are nssets totalling £5099, which includes building and fixtures, £1270. Striking out improvements, £166, and Co-operative Union shares. £11. all of the other items on this side ot the balance-sheet may be taken at fat-e value figures. Tho gross tin& net profits s«?*m to be up to standftfcl, ahd for these r*M.«ofls the nnnUal turnover of about £22,000 should be sufficient to brace up the business. But get more members and more trade!