South Yorkshire Times — Friday, 7 September 1934
Pit Pensions
Effect of Dismissals
Denaby and Cadeby Scheme Reviewed
The Mutual Help Fund which has been in operation at the Denaby and Cadeby Main Collieries since 1925, had its financial position reviewed at a mass meeting held in the Denaby Welfare Institute on Sunday.
Mr. Ben Gethen, presiding in the unavoidable absence of Mr. B. H. Pickering, agent to the Colliery Company, said the present position was the worst they had experienced. The reductions in the number of men at both collieries meant that contributions to the fund were considerably less. At present they had 22 applications from men who had reached the age of 65, to come under the scheme, but unfortunately the financial position would not allow their inclusion.
Representations had been made to both branches of the Y.M.A., but neither had been able to reach any decision, while the Colliery Company had stated they could not increase their present contribution of £2,000 a year.
Mr. Gethen said that there were only two alternatives—either the men had to agree to an increase in contributions, or the old workmen shall have their pensions reduced.
Mr. G. T. Worthington, the fund secretary, presenting the financial position, said that the present weekly income was £85 6s. 8d., and the payments £105 1s. 6d., which left a deficit of £19 15s. 10d., which was being advanced by the Colliery Company.
To accept the other 22 applications the weekly payments would be £116 11s. 6d., and the deficiency would then be £31 5s. 10d. If the men agreed to an increase of 2d. per week per man, these applicants could be accepted. They would then realise a weekly income of £116 16s., and payments would be £116 11s. 6d.
In reply to a question regarding the reserve fund, it was stated that at the end of June, 1934, the fund had a reserve of £3,506 5s. 6d., which was invested, but according to the agreement with the Colliery Company 10 per cent. of each weekly contribution was set aside for emergencies.
Mr. J. H. Dunk, secretary of the Colliery Company, said it would be foolish to interfere with the reserve fund.
Mr. Tom Hill, of the Cadeby branch, agreed that a reserve was necessary, and he put forward a suggestion that each man and boy pay a certain sum per week for each £1 he earned.
At this stage the meeting adjourned for a month, the Colliery Company in the meantime to look into the question of operating such a scheme.