100 PROCEEDINGS OF THE 



ing with pertinacious insolence the scanty arrangement of butter and 

 oatmeal. At length they exclaimed in full chorus: 



'Aye! the owd Weaver's shop is open at Last!' 



"They experienced much trouble from the limited amount of funds in 

 their possession- Nothing daunted, however, they immediately took steps 

 to remedy the difficulty, and in the year 1845, the members of the Society 

 voted to increase their capital to |5,000. This was paid in by installments 

 of six cents per week. Up to March, 1845, they kept open only two 

 nights in each week. Then they determined to keep open several hours 

 each of four days in the week. At the close of the year 1845, the mem- 

 bership had increased to seventy-four, and their capital to $905. Sales for 

 the year aggregated $3,550, and profits to members equaled $160. 



" The next three years (1846-47-48,) the Society progressed slowly, and 

 the close of 1848 found them with one hundred and forty members, and a 

 capital of $1,985. The sales had grown to $11,380, and profits to "$580. 

 They now had to increase their accommodations, and the whole of the 

 building was then leased on a long term. At the close of 1849 the mem- 

 bership had increased to 390 members, and a capital of $5,965. 



" In the year 1850, the Society doubled its membership, having in 

 December 600, and a capital of $11,495, and sales amounting to $65,895, 

 and the disposable profits reached the sum of $4,445. In April, 1851, 

 they decided to keep their store open all day, and its management 

 placed in the hands of a superintendent and two assistants. At the end of 

 the year the sales were $88,190, and disposable profit was $4,950. During 

 the yeai's 1852-53-54, the Society constantly grew in membership. The 

 capital was increased each year, sales and profits also increased, and at 

 the end of the year 1854 the membership was 900; capital $35,860; sales 

 for the year were $166,820, and profits disposable, $8,815. In 1855, the 

 Pioneer Society rapidly increased in membership, numbering in Decem- 

 ber 1,400. The capital also increased to $55,160, while the sales equaled 

 $224,510, and the profits $15,530. In 1857, the membership grew to 1,850, 

 and a corresponding increase in other respects. For the next thirteen 

 years a constant gain in membership was mader. At the end of the year 

 1871, the number of members was 6,021; the capital, $598,225. The 

 sales of the year were $1,238,370, on which the disposable profit was 

 $117,040. 



" The beginning of the year 1874, disclosed the society progressing won 

 derfuUy, its membership being more than seven thousand. Its assets were 

 $927,215, its capital $868,055. 



" The sales for the year 1873 amounted to $1,436,000, and the disposable 

 profit from all sources to $159,785. The capital averaged $122 per mem- 

 ber. The average dividend to each, based on share capital, aside from five 

 per cent, interest paid on some, was about seventeen per cent., and 

 this was after the customary charging off; as depreciation on fixed stock 

 had been made, and two and a half per cent, on net profits had been 

 applied for educational purposes. It will be borne in mind that the 



