SYDENHAM MONEY CLUB.

Press, Volume LVII, Issue 17221, 11 August 1921, Page 11

SYDENHAM MONEY CLUB.

■ —•"* "~ The half-yearly meeting of the Sydenham and Suburban Co-operative Money Club was held on Tuesday evening, Mr J. Brown (president) being in ihe chair. , The report i was a* follows:—Your committee have much pleasure in placing, before you the .statement of accounts for the six months ending 30th June, 1921. The share list closed with 1229 members, holmng sSdo shares. The number of loans granted was 114, araountinsr to £6036 8s 4d, making the grand total since the foundation of the cluo of r £366,073 8s" 9d. The present number oi borrowers on, the books is 221, and the total amount of interest £1834 17s Bd. The total receipts for the half-year wers £14,424 16s 6d. TBe sum of £3Ol 16s 2d has been d">bu»ed in-payment of accounts, salaries, etc., waving a credit balance of £2024 17s 9d. Jour committee recommend that a ♦ *k the rate of 9d in the pound complete 10s standing to members credit on the-30th June, 1921; that amounts over the £IOO. receive dividends at the rate of* per ctnt. per annum on each complete 10s for the half-year; that £llO be addsdto.the reserve fund; that the committee recede a bjnus.of £43 la and the auditors a bonne o?£ll lie each; and that the bal *°^"l„! paying interest on deposit, be carried lorW The chairman, in moving the °j the. report and .balance-sheet members <ra again receiving a m in the*. In the last seven years the clubs business had increased by 50. per <**•• «£ be trusted that it would continue flourishTto report and oalanoe-abeet were adojjted.