1 MAY 1875, Page 3

The Coal-owners' Association of South Wales resolved on Friday week

to withdraw the lock-out, and admit all hands to work at a reduction of 15 per cent, on wages. On Monday, therefore, the collieries were reopened, and it is reported that a large number of hands were going in, though the men as a body still resist the terms, alleging, what is true enough, that they have no guarantee against being locked out again. Have the masters any guarantee against a strike ? The termination of the struggle is not to be regretted, as the men in the position of the trade oould not have won ; but it is difficult to see why the pre- sent course should not have been adopted at first. H the men without any corporate surrender can be admitted now at a 15 per oent, reduction, why could they not have been admitted from the fumt ? It looks as if the coal-owners wished to test their new Association as an engine of war, and have not found it so potent as they expected. One argument which we perceive influenced them, is that the sectional opening of the works will compel the non-associated masters to reduce wages to the terms offered by the Association, and it is significant enough.