CO-OPERATIVE MONEY CLUB.
« ' The , annual meeting of the Sydenham and Suburban Co-operative Money Club ■was held, in the Sydenham Wesleyan schoolroom last evening. There was ,a moderate attendance, and Mr J. Brunt ! (the president) occupied the chair. . j . The Committee's report showed that there were now 833 members on the share list, holding 2472 shares, an increase of 19 members and 98 shares since the halfyearly meeting. The number of loans granted was 202, amounting to J24152 7s 4d, mating a total since the foundation of the club of .£62,490 5. 4d. The number of borrowers on the books was 318, and the total amount of interest for' the six months was _856G 2s od. The total <jash receipts for *the six months were _e_92o ls lld, an increase of £132 13s 6d for the half-year, and the average weekly turnover was .£227 13s lld. The amount 'of .£179 17s 3d had been paid in settlement of accounts in connection with the working of the' club, and the credit balance was JJ6OS 2s 6d. The committee recommended that adividend at the rate of lOd in the pound, equal to nearly 85 per cent per gnnum, should be added to each complete 10s to the credit of members, and also that the amounts over £100 should receive a dividend at the same rate. I. was also recommended that £40 should be added to ' the reserve of _230 to suspense accounts; that the usual bonuses should be paid to the auditors, the trustee^ and two members of the Finance Committee, and that the balance should be carried forward. The report was adopted, and the following officers were elected for the ensuing year -.—President, Mr J. Brunt; vicer president, Mr J. Brown; trustees, Messrs G. W. J. Parsons and G. Jones ; secretary, Mr T. Barjjy ; treasurer, Mr T. Kershaw ; general committee, Messrs R. Wright, E. fcSvan, W. Millar, C. Cooper, J. Pearson and J. W. Forest; Finance Committee, Messrs R. Wright and J. Pearson ; auditors, Messrs C. Foster and W. D. Marks. The meeting then terminated*
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https://paperspast.natlib.govt.nz/newspapers/TS18980127.2.67
Bibliographic details
Star (Christchurch), Issue 6088, 27 January 1898, Page 4
Word Count
343CO-OPERATIVE MONEY CLUB. Star (Christchurch), Issue 6088, 27 January 1898, Page 4
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