Mexborough and Swinton Times, October 26
Denaby Main Co-operative Society.
Centuries of coal to be mined in Yorkshire.
The 68th quarterly meeting of the Denaby Main Corporative Society was held in the Rossington Street Schoolroom, on Saturday evening last.
Mr W.H.Chambers, the president, and general manager and director of the Denaby and Cadeby Colliery Company presided.
Mr T.J.Bayliss, the secretary, read the report and balance sheet which stated that the sales for the quarter amounted to £5632 19s 6d; the profits to be disposed off were £1,277 6s 11d. This enabled the committee to pay a dividend of five shillings in the pound on members purchases, after paying interests on members shares capital, and the usual allowances to the reserve fund, educational fund, depreciation of fixed assets, and non-members dividend, £10 11s 4d to be carried forward to next quarter.
The Secretary drew the members attention to this financial position, and said the subscribed capital amounted to £8,512, reserve fund to £1,044 and educational fund to £148, reserve building fund to £320 and penny bank £388 7s 7d.
This spoke well for the society. The increase in business exceeded any previous quarter by upwards of £500.
Plans had been approved by the Doncaster Rural District Council for the extension of the premises, which would shortly be commenced.
Another matter of great importance to the members was a a loan made by the society several years ago of £5566, which was yielding 5%, and which had been repaid, and was now only yielding bank interest, which meant a loss to the society of £33 per quarter. The committee had notified the members of a proposal for the investment of the received loan capital.
He (Mr Bayliss) said that the committee had had under consideration for some time, the better investment of the surplus capital, and he believed if the members of the looked at the question fairly they would approve the committee’s recommendations, viz, that freehold land in the vicinity of about one and a half acres, be purchased, for the erection of houses for their members, and thus enable members to occupy their own freehold houses, the society promising to give all possible assistance to members designing their independence.
The chairman move the adoption of the report, and assured the members that the committee had their interests at heart, and he believed the proposal of the committee, which had been ably explained by Mr Bayliss, if approved, would be to the advantage of all.
Some people thought that collieries only lasted some 10, 20 or 30 years, but he could assure them that their collieries (the Denaby and Cadeby Mains,) would last for hundreds of years, and therefore members need not fear as regards the mines. They were now only working the Barnsley seam, which in all probability, was the best seam of the district, and that was not yet exhausted, and would not be for some time to come.
In addition to this there were 14 other workable seams, which would produce coal for generations to come.
The committee’s intentions were to put the surplus money to the best possible use; the proposal of the committee was not a new idea, but one which larger societies had approved years ago. (Applause.)
Mr Smethurst, architect, of Conisbrough submitted ground plans of the proposed purchase of the one and a half acres of land, and also sketches of the houses proposed. Each house he said, would be separate and distinct, occupying about 320 yd.²; the probable cost would be about from £200 to £220, six roomed houses (without cellars) and a house that would be a credit to a co-operator.
On the motion Mr H.S.witty. It was unanimously decided that the committee purchase the land proposed, and that they carry out the project forthwith.
Messrs I.Blunt and W.Terry were re-elected members of the committee. A vote of thanks to the Chairman for presiding brought the meeting to a close