SYDENHAM AND SUBURBAN MONEY CLUB.

Press, Volume LV, Issue 9946, 27 January 1898, Page 3

SYDENHAM AND SUBURBAN MONEY CLUB.

The annual meeting of the Sydenham and Suburban Co-operative Money Club, was held last night. The chair was occupied by Mr J. R. Brunt. The Committee's report congratulated the Club on its continued prosperity. The cix months closed with a share list of 833 members holding 2472 ." shares, bein? an increase of 19 members / and 98 shares. The number of loans granted was 202, amounting to r? £4152 7s 4d, making a grand total since the foundation of the club of £62,490 Sβ 4d. The present number of borrowers on the books was 318, and the total amount of interest for the six months was £566 J2s, Sd. The total cash receipts for the six monthe. were £5970 Is lid, being *n_ increase of £132 13s 6d, and an average weekly turn* over ot £227 13s lid. The amount of £179 17s 3d had been disbursed in settlement of accounts, salaries, &c, and interest on over* draft, leaving a cr. balance of £605 2s 6d. The committee recommended that a dividend at the rate of 10d in the £, equal to nearly 8£ per cent, per annum,'be added to each complete 10e to the credit of members on December 31st, and also that the amounts over £100 receive dividend m% th« same rate; that £40 be added to the reserve and £30 to the suspenee account; that toe usual bonuses be paid to the auditors, trustees and members of the Finance Com* mittee; and that the balance be carried forward. The chairman, in moving the adoption of the report and balance sheet, said that the position of the dab 'wm moot satisfactory. It had been always carried on on the principle of helping those who helped themselves. Mr John Brown, re seconding the motion, said the officers had the utmort confidence in the stability of the club. Hβ complimented the auditor* on their work. The motion was carried unanimously. The election of officers resulted a* follows:— President—Mr J. R. Brunt; Vice-presi-dent, Mr J. Brown; Trustees, Messrs O. W. J. Parsons and E. Jones ; Secretary, Mr T. Barry; Treasurer, Mc T. Kershaw; Committee, Messre R. Wright, fi. Swan, W. Miller, J. Cooper *nd J. W, Forrest; Finance Coraiaittee, Messrs R. Wright and J. Pearson; Aaditore, Medsr* s C. Foster and W. D. Marks. '