Dividend Remains at 1s 2d (6p)

In the Epworth Hall Schoolroom on Wednesday, at the half yearly meeting of the Denaby Main Industrial Cooperative Society Ltd, the President, Mr W Thomas, presided, and the attendance was larger than usual because four members of the Board of Directors were due to retire and six nominations had been received.

The retiring members, Messrs H Brooksbank, A Mason, D Stone (Treasurer) and A Oakley (Vice President), were re-elected.

Owing to an accident sustained at Cadeby Colliery last year, Mr Thomas had been unable to attend any meetings during the six months, and the report was presented by Mr Oakley.

Sales Down

It showed that sales for the half year were £139,539, an average weekly amount of £5,367 4s 2d or a decrease of £200 11s 2d on average weekly sales compared with the corresponding period last year. Average trade per member per week was £1 15s 4d, a decrease of 1s 7d. Share capital of £70,127 was decreased by £1,621.

During the half year 77 new members were admitted but 66 withdrew and present membership is 3035.

10 claims were met under the Collective Life scheme and £138 1s 7d paid out.

The report added “The Directors are pleased to recommend a dividend of 1s 2d in the pound. In common with other societies we continue to experience trading difficulties in some departments, particularly the food trade, and members can assist the Society and themselves by supporting all trading departments. The dividend can only be increased by increased trade.”

Approved

The balance sheet was accepted, and Mr G.R.Symons was re-elected auditor.

The president reported that Mr E Sheldrake, chief executive officer, was making good progress in Sheffield hospital.