At that meeting a general discussion took place “as to the desirability of opening a branch bakery in Paisley or Johnstone.” The matter ultimately dropped for the time being, but it was left with the committees of Johnstone, Paisley Provident, and Paisley Equitable societies “to make inquiries in their respective localities as to a suitable place for the business, which could be rented, leased, or bought, the probable cost, and all other information that may be necessary, and forward the information obtained at as early a date as possible to the committee.” The Johnstone committee were especially enthusiastic about the proposal, and before next quarterly meeting a report was in the hands of the committee. This report was read to the delegates at the next general meeting of the Society, and a general conversation took place in the course of which the opinion was expressed that however desirable it might be that the Society should branch out in the manner indicated, it was inexpedient that it should be done then in view of the state of the Society’s affairs. The committee of Johnstone Society were, therefore, thanked for the trouble they had taken over the business and for the report which they had prepared. It was also agreed that this report be printed and circulated amongst the members of the Federation, and that the subject be brought up at next quarterly meeting. JOHNSTONE SOCIETY’S REPORT. The report of the Johnstone Society is so interesting and throws so much light on the affairs of the Federation that it is worthy of being printed in full, as issued in circular form by the Bakery committee. _To the Committee of Management and Delegates representing the United Co-operative Baking Society Limited, Glasgow._ GENTLEMEN,—Having been appointed at your quarterly meeting, held 30th November 1872, to report on the results which would be likely to flow from your Society having a branch bakery in Johnstone, we respectfully beg to offer the following for your consideration. The advantages which the promoters of your Society saw in having a “united management, a concentration of labour, and a combined purchasing power,” is nearly, if not altogether, neutralised by the high cost of your productive and distributive departments; ten shillings a sack is, we believe, something unknown in Scotland as the cost of baking and distributing common loaf bread, and in your establishment it cannot be set down even at this high rate, as your auditors at last quarterly meeting _warned us_ that the depreciation of your fixed stock _was not commensurate to its “tear and wear,”_ and we believe investigation during the quarter now ended has brought out that your liabilities _in direct debts_ were greater than was accounted for in your balance of October last.