Co-operative Money Club.

Star (Christchurch), 25 July 1893, Page 2

Co-operative Money Club.

The annual meeting of the Christchurch and St Albans Co-operative Money Club was held in the club-rooms last evening, the President, Mr H. D. Pine, being in the chair. There was a large attendance. The acting Secretary read the report and balance-sheet. The Committee, in its report, drew the attention of shareholders to the very satisfactory result of the last year's operations. The business of the Club showed a very marked increase. The number of shareholders waß still increasing, the Bhare list now standing at 9-1, aB against 864 on Dec. 31. Tbe capital account now stood at £2943 14s 3d, as against £2596 17s lld in the previous b&if-year. During the past term £2952 03 Id had been advanced to members, £2269 10s in loans and £682 15s Id in cash. The average weekly takings now totalled £120. The net profit for the paßt half-year was £164 9s lld. The Committee recommended thai; a dividend at the rate ot 10 per cent per annum should be declared, which would absorb about £145. The balance ie was recommended should be carried to the reserve fund. The President, in moving the adoption of the report and balance-sheet, referred to the rapid progress the Club had made during the past half-year, and to the healthy state of its finances. The motion was seconded by Mr Thornton and carried unanimously. The election of officers resulted as follows :— President, Mr H. D. Pine (re-elected); Secretary, Mr A. C. Birt ; Treasurer, Mr C. AUard ; Trustees, Messrs J. Thornton and J. Evans (reelected) ; Shareholders' Auditor, Mr A. W. Whitaker (re-elected). The meeting closed with a vote of thanks to the Chairman.