Denaby Co-operative Society

The Effects of the Strike

The 78th quarterly meeting was held on Saturday evening. Mr. W. H. Chambers presided, and he was supported by the secretary (Mr. I. J. Baylis), Mr. R. Wright (treasurer), and other members of the committee.

The secretary read the report and balance sheet, which showed that the sales for the past quarter amounted to £2,994 8s. 3d. The profits to be disposed of are £288 6s. 3d. This enables the committee to pay a dividend of 4/- in the £ on members’ purchases. After paying interest on members’ share capital, and the usual allowances to the reserve fund, educational fund, depreciation of fixed stock, and non-members dividend, £18 6s. 3d. being carried forward to next quarter.

The Chairman, in moving the report and balance sheet, drew the members’ attention to the falling off in the sales, which amounted to £1,000 less than the previous quarter, and 50 per cent. less than the corresponding quarter of last year. They had got to the bottom of their difficulty, and had been able to carry themselves successfully through. If some members could have had their way the society would not have stood in the position it stood that day. They had had no difficulty in carrying on their business. They had kept up their stocks, and was equally prepared to cope with the fluctuations which they might be subjected to. He hoped ere the next meeting that they would have reached their nominal condition, and that the dividend would reach its maximum position.

Mr. I. J. Baylis (secretary) read a letter from Mr. G. W. Roberts, A.C.A., one of the auditors, who was unable to attend, pointing out that the society stood financially sound, and that there was nothing specially to draw their attention to, except that there was room for increased business being done.

Mr. Baylis stated that £1,306 14s. 4d. had been drawn by members during the past quarter, and that it had been paid on demand to the members requiring the same. Their share capital stood at £3,778 8s. 3d., the reserve fund at £301 5s. 3d., and the educational fund at £175 7s. 4d., which, on the whole they could not complain very much about.

There was a matter he wished to draw their attention to, and which appeared as one of the notices on the quarterly report and balance sheet, viz.: “That members should nominate some person or persons to receive their shares at their demise.” Questioned as to the amount a member might have in the society, Mr. Baylis said a member could nominate a person to the extent of £50. Above that sum it was necessary to provide trustees, will, etc. The Chairman said they wished to avoid delay, trouble, and expense in these matters wherever they could.

Messrs. J. Dixon and J. Marriott were re-elected members of the committee (without opposition). The number of members now stands at 510, three less than last quarter.