Denaby Main Co-operative Society – Dividend 22.5%

October 1901

Mexborough and Swinton Times, October 25.

Denaby Main Co-operative Society.

The 72nd quarterly meeting of the Denaby Main Co-operative’s Society was held on Saturday evening at the Rossington Street Schools, Mr W.H.Chambers, president, presiding, was supported by Mr T.J.Bayliss, the secretary, Messes J.Cramp, J.Dixon, J.Hoyle, I.Blunt, Committee and Mr G.W.Roberts, A.C.A. auditor.

Missed it, G.J.Bayliss, the secretary, read the report and balance sheet, which showed that the sales for the past quarter amounted to £6222.18s.5d, being an increase of the corresponding quarter of last year of £700. The profits to be disposed off were £1485 14s 4d, which enables the committee to pay a dividend of 4s 6d in the £ (22.5%) on members purchases, after paying interests on members share capital and the usual allowance to the reserve fund, educational fun, depreciation of fixed start, and non members dividend, £85 14s 4d, being carried forward to next quarter.

The chairman, in moving the adoption of the balance sheet, complemented the members of the society. On their financial position, the Account, as they could see from the balance sheet, stood at £9742 12s 3d, the reserve fund at £1172 7 11d, the educational fund at £182 17s 10d, the penny bank £487 7s 9d, building fund £320, and they had upwards of £8500 invested with the C.W.S

They had paid to the contractor who was erecting the 31 houses for the members on account £2500, a number of them were inhabited by members – (part purchase money having been paid by the occupiers) and the remainder were all spoke for, and be inhabited as completed.

This co-oporative scheme was no doubt a fine thing for co operators. The houses. The Denaby society were building were a credit to their members – you’re working man need wish for a better – they will cost somewhere about £220 per house, which in the committee’s opinion, was very cheap for this class of house. They have been fortunate in securing the land at the price; download to makers adjoining, which they could have at the same price per acre, and he thought they would do well to secure it, and erect 25 more houses. This would bring them than they can get at the bank.

This the meeting endorsed, and the committee were instructed to carry out the same. They had during the past quarter but now and electric light and for the all of their business premises. This, he said, was a step in the right direction, and was answering very satisfactory.

There are also enlarge their business premises during the present year, and he thought it would last for some time to come, although their business was daily increasing (cheers)

in conclusion, he said the committee were delighted to know that the members were taking advantage of the building scheme by procuring free homes for themselves.

Mr G.W.Roberts, one of the auditors, said he had been that afternoon to view the new property, and he was satisfied that it was cheap, well built, and will no doubt prove a boon and a blessing to every member who purchase one. It was a good asset, and one that the society would sound rely upon. As one of the auditors, he would conscientiously stay at their accounts were well-kept, and everything shown to their entire satisfaction. They had a good reserve fund, which was the backbone of a society, and their investments were quite safe. He did not know of any society that still do any better financially than that at Denaby Main (cheers). He hoped they will continue to prosper.

Mr Bayliss (secretary) and of other members of the committee, spoke as to their unique position, which was heartily applauded. The number of members now stood at 437.

The retiring members of the committee were Messes I.Blunt and W.Terry, were elected. A vote of thanks to the chairman for presiding terminated the proceedings.


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