SICK BENEFIT SOCIETY

Evening Star, Issue 21904, 15 December 1934, Page 13

SICK BENEFIT SOCIETY

SAEOOODS BOOT EMPLOYEES

The forty-seventh annual meeting of tiie boot employees of Sargood, Son, and Ewen Ltd. Sick Benefit Society was held in the Trades Hall on Tuesday night. The president (Mr J. Ferguson) occupied the chair, and there was a good attendance of members. The offer of the firm to again make up the balance of the subsidy to £2O was accepted with tbanks, and it was decided to use this money as formerly, by increasing the sick pay allowance by 33 1-3 per cent. The following officers were elected: President, Mr .). Ferguson; .vice-presi-dent, Mr W. Clarksonj secretary and treasurer, Mr J. Kelly; trustees, Messrs S. Ilingrose and J. Ferguson; auditors, Messrs A. Paine and It. Finder; committee—Misses V. Faithful, M. Lockhart, and F. Smith, Messrs S. Ringrosc, It. Finder, A. Mattingly, A. Paine, J. Munn, G. Taylor, and P. May; Visiting Committee —Messrs J. Munn, It. Finder, H. Bennett, J. Anderson, and Misses V. Faithful and M. Lockhart. The annual report stated that the past year had again been most successful. The number of members on the books was'lo7, which was four more than last year. The amount received in subscriptions was £IBO 5s lOd, against £lßl 17s 8d the previous year. Sick pay was paid, out to thirty-two members, totalling £54 8s 4d, compared with an expenditure of £72 4s last year. The reserve fund now stood at £95, an increase of £7 from last year. The committee hoped to soon reach the £IOO which it aimed at when it first started this fund fourteen years ago. The society so far had been fortunate in not having to draw on the reserve. It was not to bo expected that this position would always hold, and it was only when a drain was made on the funds of the society that the wisdom of having an adequate reserve would be recognised. The dividend paid out was equal to .64 per cent, of the amount paid in, and totalled £96 Bs, as against £BS 6s 5d last year. Thanks to the assistance of the firm, the society had been able to subsidise all payments for sick pay by 33 1-3 per cent. The amount paid out was £l6 2s lOd. The bank which was run in conjunction with the society received in deposits £726 8s lid, as against £594 0s 3d last vear, an increase of £132 8s Bd. The toiaf number of withdrawals was 110, amounting to £3OB 5s 8d (last year £240 11s 8d). The amount standing to the credit of the members was £4lB 3s 3d, compared with £353 8s 7d last year. The-report and balance-sheet were adopted, general satisfaction being expressed with the work of the society.