MONEY CLUB

Star (Christchurch), Issue 9918, 5 August 1910, Page 3

MONEY CLUB

SYDENHAM AND SUBURBAN. The half-yearly meeting of the Sydenham and Suburban Co-operative Money Club was held on July 28, Mr John Brown presiding. There were eighteen members present. The committee's report stated that the sharo list had closed with 1592 members, holding 6320 shares. The number of loans granted had been 201, amounting to £BBI3 14s 3d, and the sum of £245,025 10s 6d had been advanced to members since the foundation of the club. There were 325 borrowers on the books and the interest totalled £1629 7s. The receipts for the half-year had been £15,379 19s 8d and tho expenditure £363 13s 6d. leaving a credit balance of £1672 los 6d. The committee recommended that a dividend at the rate of 9d in the pound should be added to each complete 10s standing to members' credit on Juno 30; amounts over £IOO should receive dividends at the rate of 5 per cent per annum for each complete 10s; the sum ■of £25 should be added to tho reserve fund; the auditors and committee should receive the usual bonus, and tho balance should bo carried forward. The report and balance-sheet were adopted, and after votes of thanks had been passed to the officers and thechairman tho meeting closed.