ARMY AND NAVY CD-OPERATIVE SOCIETY.
I am glad to note in the address of Sir Frederick Gascoigne to shareholders of the Army and Navy Co-operative Society last week that same note of intense concern and interest in all the details of the operations of that Society which was such a'conspicuOus feature of the speeches of his predecessor, the late Lord Ebury.• Special interest attaches nowadays to the transactions of these great concerns, reflecting as they do the gallant and on the whole successful attempt of the controllers of these enterprises to withstand the effect of industrial and financial depression: The stand made by the Army and Navy Co-operative Society during the past year under the chairmanship of Sir Frederick Gascoigne has been not only gallant but successful, for while, as an inevitable consequence of depression and lower prices, there was a moderate falling off in profits the reduction was fully offset by still further economies in working expenditure, and both net profits and dividend were. well maintained, and this notwithstanding the fact that the interests of the members and customers in the matter of low prices seem to have been well protected. I attribute no small part of the success of this Society to the energy of the management and the consistent endeatfour to maintain close touch with the large staff of employees.
. * , * * *
Previous page