SYDENHAM AND SUBURBAN MONEY CLUB.

Lyttelton Times, Volume XCVII, Issue 11180, 30 January 1897, Page 3

SYDENHAM AND SUBURBAN MONEY CLUB.

The annual meeting of the Sydenham and Suburban Co-operative Money Club was held last evening in the Sydenham AVesleyan schoolroom. Mr J. R. Brunt, president, occupied the chair, and there was a fair attendance of members. The committee’s report stated that' the year ended with a total of 760 members, holding 2239 shares, an increase of 39 shares. The number of loans granted during the six months had been 174-, amounting to .£2922 14s sd, making a grand total since the foundation of the club of £53,400 2s Bd. The present number of borrowers on the books was 304, and the total amount of interest for the six months was £427 19s 2d. The total cash receipts for tha half year had been £5861 10s 3d, being an average weekly turnover of £225 8s 6d. The amount of £139 12s 5d had been disbui’sed in settlement of rent and gas accounts, stamps, stationery, advertising and cheque book, bonuses to auditors, trustees and two committeemen, and salaries ,to secretary, treasurer and vice-president, leaving * a credit balance of £473 IQs sd. The Committee recommended that a dividend at the rate of 7y per centum per annum, equal to 9d in the pound, should be added to each complete ten shillings standing to members’ credit; that £ls should be added to reserve; that £2O should be added to suspense account; that the usual bonuses should be paid to' the auditors, trustees and the two committeemen acting on the Finance Committee, and that the balance should be carried forward to next half-year. During the half-year the funds had accumulated, and at a special Finance Committee meeting, called in October to consider the matter, the Committee had decided to ballot out the sum of £7OO, and also to pay out all sums over £IOO to members’ credit, together making a total of £989 19s 4d. The Committee recommended this amount ■ should carry the same dividend for the four months. The Chairman moved the adoption of the report and balance-sheet. Mr James Eagle seconded the motion, which, after some discussion, was carried; The election of officers resulted as follows President, Mr J. E. Brunt (reelected) ; vice-president, Mr J. Brown (reelected) ; trustees, Messrs E. Jones and G. W. J. Parsons (re-elected) ; treasurer, Mr T. Kershaw (re-elected); secretary, Mr T. Barry (re-elected); committee, Messrs E. Wright, E. Swan, W. Miller, J. Peayson, C. Cooper and D. Round; finance’committee, Messrs J. Pearson and E. Wright (x-e-elected); auditors, Messrs C. Foster and W. D. Marks (re-elected). The meeting closed with a vote of thanks to the retiring officers and the Chairman.