TRANSACTIONS OF THE SECTIONS. 22? 



After the society had been earned on for seven years, it was found that more 

 capital was offered to be invested than could be profitably employed in the store. 

 At the same time there were great complaints of the quality of the flour sold in the 

 shops, which was supposed in many cases to be greatly adulterated. In fact, there 

 was at the time a very strong feeling on the subject of adulteration everywhere; 

 and this feeling very natiu-aUy applied to flour, as a chief constituent of food, more 

 than to any other article. The consequence was that in the year 1850 a Co-opera- 

 tive Corn-Mill Society was established, for which a substantial mill was built in 

 Weir-street, Rochdale, the financial progress of which is exhibited in the following 

 table : — 



Financial Statistics of the Eochdale District Corn-Mill Society, from 1850 to 1860. 



The success which attended the operations of these two societies produced great 

 confidence, and was followed by a desire on the part of the operative class to invest 

 their savings in them, and this soon produced the necessity of finding another in- 

 vestment for their capital. Accordingly, in the year 1854, a Manufacturing Society 

 was formed on the same general principles as the Store and the Corn-Mill Society, 

 and has been attended with similar success. At first they hired buildings in which 

 the manufactm-es were cai-ried on ; but on the 22nd April, in the year 1859, they 

 laid the first stone of a factory of their own, which was completed, I believe, with- 

 out a penny bein^ bon-owed during the progress of the worlf (in fact, they always 

 had a very large balance at the bank), and it is vmiversally admitted to be one of 

 the best and largest factories in the borough of Rochdale. Scarcely was this gi- 

 gantic work finished, than they found themselves in a position to commence another 

 factory alongside of it, which is now rapidly rising, and for the completion of which 

 there is reason to believe that ample funds wiU be forthcoming. 



But these great works, such has been the rapidity with which capital has been 

 developed by the success of their operations, have not exhausted their resources. 

 In the year 1860, while the gi-eat factory was still rising, a Sick and Burial Society 

 and a Turkish Bath were established by some of the more active and energetic 

 members of the Co-operative Society. And lastly, in the present year, a Land and 

 Building Society has oeen established, and is already actively engaged in erecting 

 commodious dwellings for the working class. 

 The capital of these various institutions at the present time is thus estimated : — 



Co-operative Store £39,335 



Com-MiU 29,962 



Manufacturing Society 71,695 



Land and Building Society 1,000 



Turkish Bath 350 



Total .... 142,-342 

 Deduct loans from Store to other Societies . . 16,613 



Leaving a net capital of 125,729 



» Account mislaid. t 1851, Loss £421 7s. 9d. 



15* 



