CROSS & BEVAN-CELLULOSE AND CHEMICAL NIIUSTRY. 1187 110 might cito tlio wonderful Zoiss Compnny in Jona, nliich appeared to liavo solvcd tho problom of gcttiug C V O ~ porson rownrdcd according to liis deeds, nncl of making him fool tlint ho wns so r o w n d d ; and it \vns not oxnotly tlio fair nllotmont of promotion nnd otlicr ndvnntages tlint told, but tho making 1110 man rcnliso that his ndvnncornont dopondd lipon his work. Mr. EUSTACE CAREY snid tlint tho intcrcsting and suggestivo nddrcss t h y 11ncl licnid tlint owning, romindd liim of Professor Tyndnll's colcbrnt~l ono nt Bolfnst ninny years ngo upon tlio uso of tho imnginntion in scionco. Ho \vw suro JIr. Xuy,)rntt's pnper would lond to otliors of a similnr clinrnctor. 1110 ccssntion of indiridiinl ninnngomcnt nnd individual o\vnorsliip Iind somo drawbncks-n vcr obvious one wns flint tlicro w a j loss porsonnl toucll wit1 the worklieople nnd the staff-but tho bnlnnco of ndvnntngo wns lnrgoly on tho sido of tho corporation. Mr. T. \'. SToan*r cordially ngrccd with all tlint Nr. .\Iuspixtt lind aiitl. 110 Iind vury tlolinito vicws IIH to tho ndvnntngo of n corpornto company ngninst 11 privnto firm iri tho old days. \'lien t h y lint1 1110 opportnnity of coiiipuring costs of ninniifuctiirp. qnnlitv of mnnnfnctiiro, nntl otlior things which constituto good mnnngcmcnt, i t wns a vcry grcnt surpriso to ninny of tlicni to sco in the cnso of inany firms who lind high ropntntions, and otlicr firms wlio lind small ropntntions, what n rovclntioii thoro ivns whon timy \voro put togotlior sidc by sido. Ono of tho grcnt ndvnntngos of a corporntion wns tliu fnct tlint tlioy l i d combind togotlior clovor nion in tlio slinpo of dircctors, officinls. nnd foronion in a wny w11icl1 wns quito impotisiblo in tho old days. Tlioy lind now tho opportunity of sceiiig for thomsolvcs tlio point of pcrfcction to wliicli cost nnd qunlity of ninnnfncturo could bo brouglit, nnd of not only compring ono works wit11 nnotlicr, but nlso of npplying a mnnuftrcturing tonic to oncli works, nnd irll tho works wcro thus broul:litto alorcl bnsis. In tlintwny grcnt corporntions conld ninnufncturo nt nil cnorniously dccrcnscd cost compnrd with individnnl firms. Thus o m of tho grcnt ndvnntngcs of a corporato syatciii wns tho extroinu clicnpness of riinnuftrcturo. Tlioro ivero inon in tliat rooni \vlio woiild support hiin in saying tlint wlicn tlioy looked iipon 1110 costs of 20, 30, 40 ycnrs ago, i t wns pcrfcctly innrvcllons wlint por. fuctiori could bo obtnincd by a corporntion, ns tho rcsiilt of its combined cupitnl, skill nnd rcsonrccs.