One of the peculiarities of the hosiery trade, as described in the evidence of the merchants, is that they have no profit on the hosiery and fancy articles, which they invoice to merchants in the south at prices either the same as the prices paid for them in goods, or so little higher as only to cover the risk and loss upon damaged articles and job lots. They say that the only exception to this is in the case of fine fancy work, which is often bought for cash, and in selling which they can readily obtain a sufficient profit. There is a good deal of evidence about this which rather tends to show that although dealers in Shetland invoice their goods to trade purchasers in London, Edinburgh, and elsewhere, at such prices as are, upon the whole of their sales, sufficient to keep them free from loss and allow a profit, yet that profit is very small, being at most a small commission for the trouble of getting the goods disposed of; and that they have a much less, but still considerable, trade with private purchasers, in which they realize considerable profit. The inquiry into traders' profits was not prosecuted in a more searching way, by examining themselves and their knitters at length upon invoices and specimens of goods, because the sufficiently intrusive inquiry which was made, and which stands in various parts of the printed evidence, seemed clearly enough to show that the truth as to this collateral question is as I have stated it. [A. Laurenson, 2199, 2264; R. Sinclair, 2525, 3246, etc.; R. Linklater, 2728; J. Tulloch, 2795, etc.; W. Johnston, 2844; T. Nicholson, 3584; M. Laurenson, 7517.] MERCHANTS PRICES FOR GOODS But while the merchants assert that they have no direct profit upon their sales of knitted goods, or at least none but the smallest, they do not deny that, in order to repay themselves for the trouble and risk involved in the two transactions upon which this profit is realized, they charge considerably more for their tea and drapery goods than the ordinary retail price in other districts. In other words, although there is nominally no profit upon the knitted goods, there is a double profit, or a very large profit, on the drapery goods, tea, etc., bartered for it. If, therefore, we calculate what the price of these goods should be at the ordinary retail rate, and deduct the surplus from the nominal price of the knitted articles, we find that the usual percentage of profit is obtained on the latter as well as on the tea and drapery. TWO PRICES FOR GOODS In some places, indeed, there are two prices for goods, according as they are paid for with hosiery or with money; and formerly this was the custom in Lerwick. Mr. R. Sinclair says: