to have it made as so large a proportion of the property was unproductive at that time. They therefore decided to delay the matter for twelve months. It was not until the end of 1888 that depreciation was put on a satisfactory basis. AN INVESTMENT. It was during this period that the Scottish Co-operative Farming Association came into being. The Bakery board were supporters of the proposal from the first. In discussing the subject the committee took into consideration the fact that they were spending nearly £200 a quarter for feeding-stuffs and buttermilk for baking purposes, and they thought that if such an association was in existence a large proportion of these articles could be got from the farm. They agreed, therefore, to recommend to the delegates at the quarterly meeting that a special general meeting be held to consider the advisability of becoming members of the Farming Association. When this meeting was held it was agreed that £50 be invested in the funds of the association. Unfortunately, however, the speculation did not turn out a success, as, after struggling on for several years, the association had to succumb to adverse circumstances. For some considerable time there was a certain amount of looseness in conducting the stable, and the result was that finally the committee felt compelled to make a change there by dispensing with the services of the foreman. There was trouble at Hill Street also for a time, but eventually this was overcome. For some considerable time, however, both before and after the opening of the new bakery, the complaints about the quality of the bread, which for some years had been almost negligible, revived, and sometimes the committee at the monthly meetings had letters from as many as a dozen societies. The causes of complaint were various, but seemed persistent for a time. Once before the S.C.W.S. had thought that they had reason to complain of the share of the U.C.B.S. trade in flour which was being put past them, and after two or three years had passed the same subject came up again through a deputation from the Wholesale Society waiting on the Baking Society’s Board. The whole subject was gone into minutely, and the Wholesale deputation were told plainly that while the U.C.B.S. directors had every desire to trade with the Wholesale Society they could not do so while such a discrepancy existed between the prices which the Wholesale Society charged for flours and those at which similar flours could be purchased elsewhere. The result of this first meeting was that a second meeting was arranged between representatives of the two societies, when the whole subject was investigated. Both committees, it is stated, “received from each other much valuable information which would be advantageous to both societies.”