The year 1886 passed over uneventfully, and in a routine manner, except in the matter of trade, which continued very much depressed, and wages very low. At the beginning of 1887 the average selling price at the pit mouth was 4s. 5.56d. The Relief Fund (even with the principle of division of income) was in debt to the General Fund £3548, 4s. 11d. as per the balance sheet for quarter ending December 1886. The condition of trade was so bad generally that a Royal Commission was appointed to inquire into it, the present county court judge of Durham being one of the members. He differed from the majority report, and signed a minority report. This objection was in relation to the fragmentary character of the evidence. In the coal and iron industries the witnesses were entirely from the employers. Without stating the whole of his able report, dealing as it did with every phase of our industrial life, a portion may be mentioned. Four causes of depression and low wages upon which he laid emphasis, were the land question and the royalties, way leaves and dead rents. Those who hold the land, claim these from the employers and employed who risk their capital and their lives to get the mineral which he, as landlord, does nothing to assist. In the midst of the dark times the Executive Committee was compelled to face two evils: a small banking account, and a heavy expenditure. The banking account for the quarter ending December 1886 was £16,000, exclusive of the deposit and shares in the Industrial Bank, which amounted to £1841, but which were nominal and, so far as use was concerned, simply on paper. In addition, there was a sum nearing £900 invested in buildings. In a short circular the Committee placed the whole financial position before the members. For the year 1886 the income was £44,506, with an expenditure of £54,126. "You will thus see that we cannot exist long at the rate of £9620 on the wrong side of the ledger. Soon all our funds will be gone, and nothing left for the members who have paid so long." They were compelled by rule to keep £10,000 in the funds, and were therefore driven to consider two propositions: either to increase the subscription by 3d. a fortnight or reduce the benefits. For that purpose they proposed to call a special Council to consider the questions. The reductions suggested would reduce the expenditure by £1600 per quarter. At the Council meeting an all-round reduction of 2s. per week for sickness, breakage, strikes, and sacrificed allowance was made, and £1 off the death legacies, to take place from the rising of the Council, which was held on 9th April. Happily, however, the trade began to turn and the position of the Association to amend, for on August 27th a slip was sent out informing the members "that the funds have so far recouped as to enable the Society to pay all benefits according to rule from Monday the 29th." THE EIGHT HOURS--A RESTRICTION