A SOUND UNDERTAKING' I am glad to note that Sir
Frederick Gascoigne, the Chair- man of the Army and Navy Co-operative Society, Limited, fully maintains the good practice of his predecessors in taking shareholders into the fullest confidence at the annual meeting with regard to all the details of the Society's activities. Many of the shareholders are, of course, regular customers, but even so the speeches of the Chairman at the meeting of the Army and Navy Co-operative Society undoubtedly convey. the impression that from the Chairman and General Manager down to the humblest member of the staff the idea of service to the public both as regards quality of goods and moderate prices is very prominent. This policy, seems once again to have resulted in a successful year, for, having regard to the lean times through which we have been passing, the profits of the Army and Navy Co-operative have been wonder- fully well maintained and for the past year they showed just a small increase. Among the many interesting points mien- tioned by Sir Frederick Gascoigne at the recent annual meeting was the very satisfactory circumstance that, although, as might have been expected, the active business which took place a year ago in sales of old gold has almost entirely fallen away, the fall of business in that direction has been com- pletely set off by an increase in the normal turnover of trade. Sir Frederick Gascoigne paid a tribute to the Chancellor of the Exchequer for a sound and helpful Budget, and while taking a cautious view of the future, Sir Frederick's forecast was a fairly hopeful one.
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