The Early Years of the Huddersfield Building Society (1974) by Trevor H. Hall

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THE EARLY YEARS OF THE HUDDERSFIELD BUILDING SOCIETY (1864-1928)

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BY THE SAME AUTHOR

HISTORICAL INVESTIGATION

The Mystery of the Leeds Library The Strange Case of Edmund Gurney Old Conjuring Books. A Bibliographical and Historical Study Strange Things. The Story of Ada Goodrich Freer (with Dr J. Lorne Campbell) Mathematical Recreations (1633). An Exercise in Seventeenth-century Bibliography

SHERLOCK HOLMES

Sherlock Homes. Ten Literary Studies The Late Mr Sherlock Holmes Sherlock Holmes. The Higher Criticism

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HEnrtr

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The Early Years of the

Huddersfield Building Society (1864-1928)

TREVOR H. HALL President of the Society 1972-4

PRINTED FOR PRIVATE CIRCULATION

HUDDERSFIELD 1974

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© TREVOR H. HALL 1974

Printed in England by W. S. MANEY & SON LIMITED HUDSON ROAD LEEDS LS9 7DL

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TABLE OF CONTENTS

List of Illustrations

Preface .

Introduction .

John Smith 1864-7

Henry Kaye Part I. 1867-82

Henry Kaye Part II. 1883-1912

William Henry Kaye 1912-28 .

Epilogue Appendix I. Appendix II. Appendix III. Appendix IV. Appendix V. Appendix VI. Appendix VII.

Appendix VIII.

Appendix IX. Appendix X. Appendix XI. Appendix XII.

Appendix XIII. Appendix XIV.

Index

Presidents of the Society Vice-Presidents of the Society. Directors of the Society Chief Executives of the Society Trustees of the Society . Head Office Solicitors Treasurers to the Society Arbitrators of the Society Auditors of the Society . Principal Bankers of the Society Bonuses Paid by the Society . Directors' Remuneration Annual and Special Meetings of the Society

Statistical Summary 1864-1928

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II 17 39 101 143 147 148 149 154 155

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PLATE

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LIST OF ILLUSTRATIONS

Frontispiece: Henry Kaye

The Society's Office at 28 King Street (at its junction with Queen Street), Huddersfield in 1864

The Society's Office at 19 John William Street, Huddersfield in 1867 .

The Society's Office at 37 John William Street, Huddersfield in 1882 .

The Society's Office in Britannia Buildings at the corner of St Peter's Street and John William Street, Huddersfield in 1902

William Henry Kaye . The Board Room in 1926

The Society's Office, Britannia Buildings, St George's Square, Huddersfield in 1926

The Banking Hall and General Office of

Britannia Buildings, Huddersfield in 1926

The author in front of Britannia Buildings in 1935

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Preface

HE PURPOSE Of this book is to offer some account of I the progress of the Huddersfield Building Society from its establishment in 1864 to the death of the third Secretary, William Henry Kaye, in 1928. The latter year was the end of an era and a natural milestone in our history, as I hope to show, marking the accumulation of our first nine million pounds of assets, the proud ownership of our new Head Office at Britannia Buildings, Hudders- field and the success of our earliest experiments in Branch Office development. Perhaps even more importantly (from my point of view, at least) 1928 was also a year of anxiety and difficulty for the Society, from which it emerged unscathed, but with a Board determined upon a change from the old ways. The events of 1928 had convinced the Directors that the administrative methods that had served the Society well from its first small beginnings as a local institution, through more than sixty years of growth, were no longer adequate for a large organization operating on a nationwide scale. In the final chapter of this book, 'Epilogue', which looks briefly at the Society in the years following 1928, I have tried to show the significance of this time of change. I believe that I am qualified to do so, for I joined the staff of the Society in 1934 when all this was taking place. I was (to use an expression of C. P. Snow's) one of 'the new men', but I was fortunate enough to gain the friendship and the con- fidence of some of those who had served the Society for many years. Historical investigation is congenial to me, and it was therefore of particular interest to ascertain some details of our earliest years and those Huddersfield Victorians who laid the foundations of our great Society over a century ago. The pleasure of the research, however, was not free from occasional melancholy, for the history of an institution such as ours must inevitably be an anticipation of experience; an account of life and work and the human limitations of both. Men like Joseph Hirst, Frederick Crosland and Henty Kaye became familiar personalities to me, and as the old heroes moved

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viii HUDDERSFIELD BUILDING SOCIETY, 1864-1928

inexorably into the evening of their lives and passed away one by one, to be mourned and replaced by their younger colleagues, it almost seemed as if I was losing a succession of old friends. The principal sources of information upon which I have relied have been our Minute Books and Annual Reports, together with articles in The Huddersfield Examiner and The Building Societies Gagette, and the commercial directories of the period. I have gleaned much information in regard to the movement as a whole from Seymour J. Price's Building Societies. Their Origin and History (London, 1958), a reliable work of reference that it has been an added delight to me to use because my copy was presented to me by my friend the late Andrew Stewart, and bears his inscription and signature. Valuable facts and impressions have come to me from the recollections of former staff colleagues, now mostly retired, with whom I have talked and corresponded. It has been a great pleasure to me to renew old friendships in this way. I have resisted suggestions that I should bring the story of the Society up to date. Adequately to describe the last forty-six years of our history, including the damage and hardships of the Second World War and the far-reaching economic, social and political pressures on building societies that have developed since that immense upheaval, would mean a much larger book than is intended at the present time. Such an extension of the period, moreover, would involve discussion of events and persons that are too recent for any fair and final assessment yet to be made. Lastly (and of least importance) I would face the problem of describing my own work and long association with the Society, which is a difficult assignment for any writer. A second volume would obviously be of great value and interest, but not for some years. It remains my pleasant duty to acknowledge with gratitude the assistance I have received in the preparation of this book. Of our staff, past and present, who have provided me with information I am especially indebted to Mrs Freda Clemence, H. S. Andrews, N. B. Buckley, H. Dransfield, K. Davis, B. Jowett, G. O. Kanight, A. Lodge, A. Porritt, and A. C. Russell. Outside our Society (but still in the orbit of the movement) my obligation to William Robin- son, the General Manager of the Wakefield Building Society, John Hainsworth, the General Secretary of the Halifax Building Society, and Keith Brading, the Chief Registrar, will be apparent in the text. I am grateful to H. F. Longbottom of Armitage, Sykes &

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PREFACE iX

Hinchcliffe, Solicitors, of Huddersfield, who most kindly read and approved my references to his firm, and to Messrs Franey & Co., the publishers of The Building Societies Gazette since 1869, who allowed us access to their early files of that journal, which are now collector's items. Mrs Pat Burke, our General Manager's secretary, has been my right hand in Huddersfield, solving all the diverse problems I sent to her, ranging from the finding of an obscure private Minute Book to the discovery of the death certificate of a nineteenth-century President of the Society. I am most grateful to her for her help, as I am to my own secretary, Mrs Susan M. Spriggs, who took great interest in the work from the beginning and typed with scrupulous care a text not free from intricacies. The book would have been noticeably the poorer without the many suggestions of my friend Hartley Thwaite, a distinguished Yorkshire antiquarian, who for many years was the highly regarded Manager of Lloyds Bank in Huddersfield. The fact that the Society entrusted the entire production of the book to A. Stanley Maney of Leeds, a master of the printer's craft with whom I have worked on other projects, has been a source of great pleasure and assistance to me. My special gratitude is due to my friend Denis K. Macnaught, our General Manager, who has been my kindly and constructive critic from the beginning, patiently reading each instalment of the typescript as it was completed and correcting my frequent errors. He suggested, and has prepared, the Appendices, which are in- valuable adjuncts to the chronological text. My recollection of the many hours we have spent together on the book will always be very pleasant. T.H.H. Brrrannta BuiLpINGS$S HUDDERSFIELD

July 1974

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Introduction

HE PURPOSE of this preliminary chapter is to throw some light I on three matters connected with the early years of the Huddersfield Building Society. When I first encountered them I found them perplexing, and without an assembly of the relevant facts they could be mildly controversial. The initial task of the historian attempting to write an account of the Huddersfield Building Society must surely be to record the date of our establish- ment, which at first sight would seem to present no problem. In the third issue of the Society's published annual Report and Accounts, which was in respect of our financial year ending 2 September 1867, and in those that followed, the phrase 'Established September 5th, 1864" was printed after the name of the Society, which in those days was the Huddersfield Equitable Permanent Benefit Building Society. The two previous Reports had simply stated that the Society was established in 1864. Writing to me on 12 September 1973, the Chief Registrar of Friendly Societies said that 5 September 1864 was 'of course, the date that has been regarded by the Society, over the years, as the date of its establishment'. It is true that this date has lived on during the intervening period of more than a century, and has never previously been challenged. The antiquity of a mistake, however, should not deter the historian from correcting it if this is justified. When I began my work by a preliminary examination of our first Minute Book, I began to entertain serious doubts about the date of 5 September 1864. Through the kindness of the Chief Registrar, Mr Keith Brading, I obtained a xerox of the actual copy of our first printed Rules in the possession of the Registry of Friendly Societies Central Office. This very informative document is a booklet of thirty-two pages, measuring approximately 7 in. X 4 in., the title-page of which reads:

RULES | OF THE | HUDDERSFIELD | EQUITABLE PERMA- NENT | BENEFIT BUILDING SOCIETY. | OFFICES. | KING STREET, CORNER OF QUEEN STREET, | HUDDERSFIELD. |

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2 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

HUDDERSFIELD: | G. WHITEHEAD, PRINTER BY STEAM POWER, NEW STREET. |

These first Rules of our Society, which were quite detailed and comprised 138 numbered paragraphs, were undated but were certainly in print by April 1864.* This is demonstrated by an endorse- ment written inside the rear cover:

Pontefract Sessions, 4 April 1864. Enrolled and confirmed. By the Court [Signed] M. Dixon. Deputy Clerk of the Peace.

Also at the rear of this copy of our Rules are two further endorse- ments, the first of which reads:

The foregoing Rules were agreed upon at a Meeting held at the offices, King Street, corner of Queen Street, Huddersfield, on the nineteenth day of August 1864. [Signed] Frederick Crosland, Henry Shaw Jr, William Henry Woodcock, Directors. John Smith, Secretary.

The other endorsement reads:

I hereby certify that the foregoing Rules are in conformity with law and with the provisions of the Act-6 and 7-Wm. IV-c-32. [Signed] John Tidd Pratt, the Barrister appointed to certify the rules of Savings Banks. London. 31st August 1864.

This endorsed copy of our Rules, which we now know to have existed as early as April 1864, proves that at that date the name of the Society had been chosen and its objects defined.? It is clear that by that date we had secured the tenure of our original modest office,

* At the twenty-ninth Annual Meeting of the Society in 1893 (recorded later in this book) Frederick Crosland recalled that he was by then the only survivor of the three gentlemen who early in 1864 had met morning after morning from 5 a.m. to 8 a.m. to draw up the proposed Rules of the Society, and make the other necessary arrangements for its establishment. * The preamble to the Rules reads: NAME AND OBJECTS OF THE SOCIETY This Society is established by the name of 'THE HUDDERSFIELD EQUIT- ABLE PERMANENT BENEFIT BUILDING SOCIETY; its objects being to raise, by monthly subscriptions, a fund, to enable each or any member to receive thereout the amount or value of his share or shares therein, for the purpose of erecting or purchasing one or more house or houses, or other real or leasehold property, to be secured by way of mortgage to the Society, until the amount or value of such share or shares so received shall have been repaid to the Society, with all fines or other sums of money incurred or payable in respect thereof; and to make advances on mortgage. It may be thought that the phrase 'This Society is is significant, and that the date of the formal Board Meeting at which the Rules were agreed and adopted was the true date of the foundation of the Society.

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INTRODUCTION 3

which was a single first-floor room at 28 King Street, Huddersfield, at its junction with Queen Street. We know (from Rule 8) that at that date it was already proposed that 'The business and affairs of the Society shall be managed and conducted by a President, a Vice- President, a Board of Directors, a Secretary, and a Treasurer'. We know (from Rule 9) that as early as April 1864, it was intended that 'The Board of Directors shall consist of nine members [as it still does today] including the President and the Vice-President; five to form a quorum'. It is a reasonable presumption that these important matters, and all the other detailed proposals for the formation of the Society contained in the Rules, had been agreed after deliberations by the nine gentlemen who were to become the first Board of Directors, and who were listed under Rule 13 as:

Mr. Frederick Crosland, merchant, Byram-street; Mr. James Scholefield, dentist, New North-road; Mr. John Dodds, merchant, John William- street; Mr. Charles Denham, currier, Pack-horse-yard; Mr. Joseph Hirst, woollen draper, Buxton-road; Mr. Richard Roberts, manufacturer, Lockwood; Mr. Henty Shaw, jun., merchant, St. George's-square; Mr. Charles Smeaton,* draper, Kirkgate; and Mr. William Henry Woodcock, bookseller, Westgate.

Rules 14 to 20 inclusive declared that 'the West-Riding Banking Company' shall be the Bankers of this Society', that 'Mr. Jonas Craven, Huddersfield, is hereby appointed to be the Solicitor to this Society', that 'Messrs. John Kirk and Sons are hereby appointed the Architects and Surveyors of this Society',* that 'Mr. John Smith, Accountant, is hereby appointed the Secretary of this Society', that 'Mr. John G. Berry, Banker [of the West Riding Banking Company| is hereby appointed the first Treasurer of this Society',4 that 'Mr. W. E. Thomas and Mr. William Dawson are hereby appointed the Auditors of this Society for one year',5 and that 'Wright Mellor,

1 This was a misprint of Smeeton. * Its full title was the West Riding Union Banking Company. * It is of great interest to notice that Rule 16 went on to say that the Directors could appoint 'for the Branches of the Society's offices, other persons capable of performing the duties of surveyors', thus indicating that from the beginning the Directors intended that the Society's operations would ultimately extend beyond Huddersfield. 4 Neither the Bankers, the Solicitors, the Surveyors, the Secretary nor the Treasurer could be removed from office other than 'by the decision of two-thirds of the Directors present at any meeting of Directors, specially called for that purpose'. 5 The Auditors, who were not professional accountants, were subject to election at each Annual General Meeting.

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4 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

Esq., j.p. and William Mallinson, Esq., shall be the Trustees of this Society'. Other proposals contained in the Rules included the holding of an Annual General Meeting of members in the month of December in every year (Rule 2), the holding of monthly meetings for the receipt of subscriptions 'at Seven o'clock in the evening, at the Offices of the Society', every fourth Monday, the first such meeting to be held on 5 September 1864 (Rule 1), and the holding of Board Meetings 'on the Friday after each Subscription Meeting (or oftener if required) at the Office of the Society, at such hour as shall be fixed, to transact the business of the Society' (Rule 30). Rules 7 and 80, which amplified Rule 1, made it additionally clear that the Subscription Meetings were not Board Meetings, but were simply the opening of the office from 7 p.m. to 9 p.m. once a month for the convenience of members (who presumably were mainly at work during the day) to pay money into the Society. Only one Director (in rotation) attended these Meetings 'to preside over the same during the appointed time for the receipt of subscriptions and repayments', accompanied by the Secretary. It seems conceivable that a mis-reading of Rule 1 in isolation might have led the second Secretary of the Society, Henry Kaye, who was only twenty-three when he was appointed on 29 March 1867 in succession to John Smith, erroneously to conclude that the first Subscription Meeting arranged for 5 September 1864 (the only precise date mentioned in the Rules) was the date of our establishment. We are also entitled to wonder whether Henty Kaye, drafting his first Report and Accounts in September 1867, was additionally misled by something else. It will be recalled in this connexion that it was in this third issue of our Annual Report that 5 September 1864 was first declared in print to be the date of our foundation, following the name of the Society. The young Secretary obviously and naturally used the two previous Reports prepared by his predecessor as a guide, for the format was identical. In the first of these, for which the Auditors, W. Dawson of the West Riding Union Bank and W. E. Thomas, Schoolmaster, gave a date of 16 October 1865, the only other dates printed are those for the cash account, which was stated to be 'from September 5th, 1864 to September 3rd, 1865°. Thus the date mentioned in Rule 1 appeared again in a different context, and may have been accepted by Henry Kaye, who was not employed by the Society in 1864, as the date of

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INTRODUCTION 5

our establishment. Be that as it may, the fact remains, as I hope to show, that the Society was very much in existence in all essentials before 5 September 1864. Our first Minute Book entry was headed 'Special Meeting, Friday, August 19th, Mr Joseph Hirst took the Chair. He was to be elected the first President of the Society on 30 August 1864, not 19 August, as stated in the Minutes of the meeting of 27 May 1881, following his death in office on 1 May 1881. He was supported by Frederick Crosland (who was to succeed Joseph Hirst as the second President of the Society in 1881) and by Henry Shaw, William Henry Woodcock and Charles Denham. At this meeting of 19 August the Society's Solicitor, Jonas Craven, and the Surveyors, John Kirk & Sons, were formally appointed 'according to the Rules'. The latter phrase was appended to all the offices confirmed on this day, which also included that of the Treasurer, Mr Berry of the West Riding Union Banking Company (who were the Society's bankers), the two Auditors, and the Secretary, John Smith. On 30 August 1864, a second Directors' Meeting was held, again under the chairmanship of Joseph Hirst. The Board was strengthened by the attendance of three other Directors, Charles Smeeton, Richard Roberts, and James Scholefield." At this second meeting a number of further important matters were settled. Joseph Hirst and Richard Roberts were elected President and Vice-President by ballot. It was agreed that members of other Building Societies could take an equivalent number of shares in the Huddersfield Equitable Permanent Benefit Building Society 'without being subject to entrance fees and conditionally that the monies withdrawn be deposited on entry'. The important decisions were taken that 'the

* The Rules were adopted on 19 August 1864, but it is of interest to see from the Minutes of the Board Meeting of 17 July 1865, that a Committee of four Directors was appointed to consider their possible revision. The Committee met on 24 July 1865, and resolved that it 'was desirable to postpone any alterations in the Rules to some future time'. The Committee recorded its opinion, however, that alterations were desirable to Rules 2, 9, 10, 30, 49, 50 to 55, and 78. * Since the Directors in these early years received no remuneration of any kind whatever, their diligence, sense of duty and mutual loyalty were remarkable. When Richard Roberts resigned on 16 June 1865 his colleagues recorded their sorrow. ''They would have gladly retained him in his present honourable office', it was written in the Minutes, 'if circumstances would possigly allow him to remain in the neighbourhood; but duty having called him to another sphere, they have no alternative but to accept his resignation, though very reluctantly, with the hope and prayer that he and his family may realize every spiritual and temporal blessing'. This expression was passed unanimously on the motion of F. Crosland, seconded by C. Denham.

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6 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

Investing and Borrowing members be charged two pence in the pound for Office Expenses, the amount to be deducted on withdrawal or on the repayment of sums borrowed' and that 'the expenses for the first year shall not exceed 30/- per cent upon the total receipts for the year'. It was resolved that 'the Secretary shall be paid by Commission and at the rate of 20/- per cent upon the total receipts for the first year'. Other matters agreed at this Directors' meeting of 30 August 1864 included the decision that 'the Office Hours be from ten to four, Saturday ten to one, and on the monthly sub- scription nights from seven to nine'. An important resolution that was carried was that sums of £25 and under could be withdrawn on fourteen days' notice. The next Board meeting was held on 9 September 1864, and it may be thought conclusive that 5 September, the alleged date of the founding of the Society, was mentioned nowhere in the early Minutes, which would have been a startling omission if the Society were really founded on that day. I must say now that on the evidence of the first Minute Book and the endorsed copy of the Rules, which must surely be regarded as the primary sources, I do not think that it can be doubted that the Society was established on 19 August 1864, complete with a Board of Directors, a Solicitor, Auditors, Surveyors, Bankers, and a Secretary. It is noteworthy, moreover, that all these appointments were made precisely 'according to the Rules' formally adopted on that day and so endorsed, and which stated in the opening sentence of the preamble, 'This Society is established [my italics] by the name of "THE HUDDERSFIELD EQUITABLE PERMA- NENT BENEFIT BUILDING SOCIETY" *.* I sent a copy of my notes on these matters to the Chief Registrar, who in his letter to me of 5 October 1973, was kind enough to say that the case I had made for 19 August 1864 as the date of our establishment was as conclusive as could be hoped for on the basis of the available evidence.

* The original name of the Society was used until 1918. The following Certificate is reproduced on page 2 of our current Rules:

Register No. 214 B York. CERTIFICATE OF REGISTRATION OF CHANGE OF NAME. The Registrar of Building Societies in England hereby certifies that the Registered name of the Huddersfield Equitable Permanent Benefit Building Society, established at the Britannia Buildings, St. Peters Street, Huddersfield, in the County of York is changed from the date hereof to the name following :

Huddersfield Building Society. This 18th day of December 1918. (Intld.) G.S.R. ®

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INTRODUCTION 7

Any preliminary study of the early years of the Huddersfield Building Society must, in my view, include the laying of two other ghosts from the past. The first is an assertion in 1953 by the historian of the Halifax Building Society:

The establishment of the Huddersfield branch of the Halifax Building Society antedated the formation of the Huddersfield Building Society by two years.!

This suggestion that the Halifax Building Society had a branch in Huddersfield in 1862 is in my opinion an overstatement, presumably arising from a failure on the part of the historian to distinguish between the accepted meaning in 1953 of a branch (or District Office) as opposed to a part-time agency. I need not present the argument in detail, since I thought it proper to invite the comments of the Chief Administration of the Halifax Building Society upon my notes before publishing my conclusion. In a most agreeable and interesting correspondence Mr John Hainsworth, the General Secretary of the Society, conceded that on the basis of the facts I had assembled it was true to say that until 1871, when George Milner Fisher was appointed the first manager of the Huddersfield branch of the Halifax Permanent Benefit Building Society in Glad- stone Chambers, 23 King Street, Huddersfield, the Society had been represented by part-time agents. My information was ascertained by an examination of the earliest available commercial and street directories of the period, including William White's Directory of Leeds, Bradford, Huddersfield, etc. (Shet- field, 1866),2 The Huddersfield Directory and Year Book (Muddetrsfield, 1867) and Kelly's Post Office Directory of the West Riding of Yorkshire (London, 1871). These works of reference showed that the repre- sentative of the Halifax Society in Huddersfield during the first years of our establishment was Mr Frank Curzon, of 21 King Street, Huddersfield. Mr Curzon was described as an artist, a commission agent, the Secretary to the Huddersfield Art Union, a house and estate agent, the Secretary of the Huddersfield Warehousemen and Clerks' Provident Association, and the Secretary of the Huddersfield Establishment of the Halifax Permanent Benefit Building Society.

* Oscar R. Robson, A4 Hundred Years of the Halifax. The History of the Halifax Building

Society, 1853-1953 (London 1953), p * The half-title was The Clothing DlJ‘tflCf Dzrectorj, and the book was often referred to

by this name. 2

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8 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

In 1871 Frank Curzon disappeared from the scene represented by the directories of Huddersfield, and the Halifax Society established its District Office. The reason for the departure from Huddersfield of this gentleman of many parts is fortunately available to us from Curzon's short autobiography. In his little paper-backed Rem#ntscences of My Life Work published in Leeds in 1904, Frank Curzon recorded his long connexion with the Huddersfield Mechanics' Institute, which led to his appointment as agent to the Yorkshire Union of Mech- anics' Institutes in August 1871, when a farewell dinner was given to him at Huddersfield. This somewhat flamboyant autobiography was concentrated upon Curzon's work as an artist and his devotion to the Mechanics' Institute movement, together with details of many celebrated people with whom he stated he came in contact as a result. He said (p. 36) that in Huddersfield from 1860 to 1870 he painted a large number of pictures which sold very well. In a comment upon the famous people he had known, he remarked (p. 56) that Lord Randolph Churchill 'was thoroughly familiar with all the details connected with Building Societies and other bodies bearing on the social condition of the people'. During the correspondence Mr Hainsworth provided a piece of information that was new to me. He said that Frank Curzon was appointed as the local agent of the Halifax Society in 1863, and that he had replaced the original agent, a Mr John Smith, appointed in 1862. It will be recalled that as early as April 1864 our printed Rules recorded (Rule 17) that 'Mr. John Smith, Accountant, is hereby appointed the Secretary of this Society', and that he occupied this position from August 1864 until the early months of 1867, when his resignation was followed by the appointment of Henry Kaye. Mr Hainsworth wrote:

While it would be difficult to prove that these two John Smiths were one and the same person, I think two facts point to this conclusion, the common interest in building societies and the character trait in common of being 'rolling stones' -a stay of about 1% years with us and 2% years with you. What a pity that our first agent and your first secretary bore such a common name as John Smith. Had they both had an uncommon name like Jabez Bunting Farrar, the actual name of one of our early Directors, we might have said with some certainty that although the Halifax Building Society agent may not have been a founder of the Huddersfield Building Society, at least he was very much involved with the beginnings of your Society!

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INTRODUCTION 9

This attractive speculation is of great interest from the point of view of both Societies. It is therefore unfortunate that despite efforts by both Mr Hainsworth and myself, we have been unable to carry the matter further. In the old records of both Societies, our respective John Smiths are no more than names, and Mr Hainsworth and I have agreed that it is impossible to determine today with certainty that they were the same man. The other ghost that needs to be laid for the benefit of future students of the early history of the Huddersfield Building Society is its possible confusion with another very similarly named organiza- tion, the comparatively short-lived Huddersfield District Permanent Benefit Building Society. In our collection of information preserved in Britannia Buildings we have discovered one of the Minute Books (apparently the last) of the proceedings of the Huddersfield District Permanent from 1880 to 1887, and a set of the Rules of the Society. Why these two documents should have come into our hands I have been unable to discover, for it can be demonstrated that the Society did not specifically transfer its engagements to us when it ceased to operate. Be that as it may, these sources of information tell us, among other interesting matters, that the Huddersfield District Permanent Benefit Building Society was formed on 14 October 1863, at a meeting held at the Wool Pack Inn, Buxton Road, Huddersfield, thus preceding our own establishment by rather less than a year. The Society boasted no less than fifteen impressive 'Patrons', of whom four were clergymen, and seven were Justices of the Peace. Among these Patrons were Wright Mellor, J.P., who was to become one of our Trustees in 1864, and Joseph Hirst, who was to become our first President. These Rules and the commercial and street Directories of the period show that the first Secretary of the Huddersfield District Permanent Benefit Building Society was Charles Kershaw Hare, and that its original office was at 1 New Street, Huddersfield. Between the foundation of the Society and the year 1887, when the Minutes recorded that a committee was appointed to wind up the affairs of the Society, many changes of Secretary were made. Mr Hare was succeeded in turn by James Taylor, Ramsden Ainley, Crossley Cockroft, Joah Jessop, J. L. Barraclough, and William Rippon. During the incumbencies of these seven different Secretaries, the Huddersfield District Permanent Benefit Building Society moved its office first from New Street to 19 Market Place, then back to New

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10 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

Street and finally to 17 Queen Street. During the time of the final location at 17 Queen Street and the employment of the last Secre- tary, William Rippon, the Society even changed its name to the Huddersfield and District Self Help Permanent Building Society. Such a succession of changes of address and chief executives demon- strated a state of affairs that could only have one result, it may be thought. In 1887, on the recommendation of the Committee ap- pointed to wind up the affairs of this unfortunate Society, borrowers who could not afford to repay their loans were asked to transfer their business either to the Halifax Permanent Benefit Building Society or to the Huddersfield Equitable Permanent Benefit Building Society. The Huddersfield District Society terminated in July 1888, and by 1889 the new street directories showed that 17 Queen Street, Huddersfield was occupied only by Sam Chambers, veterinary surgeon, and Joseph Sowden, cart owner.

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John Smith 1864-7

OHN sMITH's tenure of office as the first Secretary of the Society J from 19 August 1864" to 29 March 1867, was clearly the first natural period of our history. It also roughly coincided with our occupation of our original office at 28 King Street, Huddersfield, for at the Board Meeting on 22 March 1867, a Sub-Committee was appointed to inspect the proposed new office at 19 John William Street. A week later, the Sub-Committee was invited to superintend the refitting of the Society's recently acquired and more commod- ious premises. On the face of it, Smith seems to have been a satisfactory and competent executive. When his resignation was formally accepted by the Board on 29 March 1867, the President was asked to write to Smith on behalf of the Directors 'regretting the loss of his services but at the same time wishing him every success in his enlarged sphere of action'. From this it would appear that Smith, who was described as an Accountant in the Rules, had obtained a more lucrative appointment. It would seem, however, that he considerately gave the Directors four months' notice of his intention to leave the Society's service, for as early as the occasion of a Board Meeting held on 6 November 1866, it was resolved that a Sub-Committee be appointed 'to examine into and report on the present state and future prospects of the Society, and also to take into consideration the Secretary's resignation'. As will be seen, this notice was of sufficient length to enable the Directors conveniently to appoint

* The foundation of our Society is not mentioned in either D. F. E. Sykes's The History of Huddersfield and its Vicinity (Muddersfield, 1898) or Taylor Dyson's The History of Huddersfield and District (Muddersfield, 1932). The photograph entitled 'St George's Square' on p. 473 of the latter book could well be called 'The Huddersfield Building Society', for it is as impressive a picture of Britannia Buildings and our splendid front elevation as I have seen. I think it a curious omission that Mr Roy Brook does not devote a few paragraphs to us in his The Story of Huddersfield (London, 1968). When Mr Brook wrote his book, the fact that from our undeniable early place in the social and commercial history of Huddersfield we had grown into a large and important Society with a nationwide presence, was not arguable.

II

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12 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

Smith's successor, Henry Kaye, on the same date, 29 March 1867, as the first Secretary's resignation became effective. During Smith's period as Secretary, the operations of the Society from its single first-floor room in King Street were naturally limited in extent. We had started from nothing, and we faced competition both from the already established Huddersfield District Permanent Benefit Building Society and from the successful agency of the Halifax Permanent Benefit Building Society, run by the locally popular and influential Mr Frank Curzon. Our first trading year ended on 3 September 1865, and our first Report and Accounts, a single quarto sheet printed on both sides and folded in three, therefore makes interesting reading. The first Annual Report showed that we had received 2d. in the Share Department, £2,143.3.4d. in Deposits, and £97.17.8d. on account of Entrance Fees, Pass-Books, Fines and other sundries, making a total gross intake of £4,535.19.2d. Withdrawals amounted to £565.18.2d., which was a very much more satisfactory ratio than that which Building Societies experience today. During the first year, £3,953.14.0d. was advanced to our six borrowing members, and £242 represented the total expenses of running the Society," including the Secretary's commission, fire insurance, printing of pass-books, Rules and stationery, and the purchase of office furni- ture." At the end of our first year's modest activities the remaining cash in hand and at the Bank was £54.7.0d. The assets of the Society at the end of its first year were declared by the Auditors to be £4,044.13.5d., being the total of the mortgage balances, the office furniture and fittings (less 15%, depreciation), and the cash in hand and at the Bank. The Minute Book showed that from the beginning the establish- ment of Agencies, mainly in the villages around Huddersfield, was under constant if cautious consideration by the Directors. As early as the Board meeting of 5 November 1864 the Secretary was - instructed 'to get information respecting the establishment of Agencies'. During the first year an Agency was opened at the

* This seems a modest sum, and to put it into perspective it may be noticed that it was not until the Society's second year and the Board meeting of 5 January 1866, that it was resolved that the two Auditors be paid L2.2.0d. each for their services. The Directors received no financial rewards whatever in the early years. * For some reason the rent of the office was not mentioned among the list of expenses, which was evidently a clerical error since it was included in a similar bulk item in the second Report and Accounts for the year ending 2 September 1866.

Page 24

JOHN SMITH, 1864-7 13

National School at Meltham, launched by means of a public meeting in that village arranged by the Board on 20 May 1865. Our local representative was Mr T. H. Lawford. In the autumn of that year the Directors discussed (or appointed sub-committees to investigate) the possibility of opening Agencies at Stainland and Mirfield, and, more boldly, at Halifax, Dewsbury, and Batley. These further projects were, however, postponed as doubtless too ambitious at such an early stage in the development of the Society. Richard Roberts had resigned from the Board on moving from the Huddersfield district. At the Board Meeting of 9 October 1865, James Scholefield was elected Vice-President of the Society in his place. The first Report and Accounts were presented to an Annual General Meeting of Shareholders on 1 December 1865 held in the Assembly Rooms of the Philosophical Hall in Huddersfield. In the Report of the Directors it was declared by the President, Mr Joseph Hirst, that the first year's operations had been very satisfactory:

They have every confidence that the principles upon which the Society is based will bring matters to a satisfactory issue year by year; but their expectations have been more than realized on finding, after a very careful examination of the books by the Auditors, that, in addition to the interest allowed, at the rate of 5 per cent. on share subscriptions, and 44 per cent. on deposit subscriptions, there is still a surplus sufficient to allow a Bonus of 1 per cent., beside carrying, according to rule, a sum to a Reserve Fund. At the close of next year, your Directors confidently expect to be able to declare a good Bonus upon all shares then in force. The Directors ask for the hearty co-operation of their fellow-members in extending the influence and advantage of the Society.

By 2 September 1866, at the end of its second trading year, the Society had more than doubled its assets, which had risen to £L9,070.13.10d., comprising mortgage balances of £8,701.14.4d., office fixtures and fittings of £129.9.9d. and cash £239.9.9d. During the year, 236 new members had joined the Society. The second Annual General Meeting was held in the Wellington Hall, Queen Street, Huddersfield, on 18 December 1866, with the President of the Society, Mr Joseph Hirst, again in the Chair. In presenting the Directors' Report, Mr Hirst said that it was a pleasure 'to con- gratulate the Shareholders upon the extension and increasing pros- perity of the Society'. Commenting upon the large increase in the mortgage balances, the President emphasized that 'the whole of this

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14 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

sum is secured by good and substantial mortgages, and a good margin between the amount advanced and the market value had been secured'. He remarked:

Your Directors rejoice to contemplate the benefits resulting from the establishment of this Society, and anticipate for it a yet larger extension and success, and hope that those who have reaped advantages from their connection with it, will seek to extend its benefits to all who come under its influence.

During the first two years of its existence, the affairs of the Huddersfield Equitable Permanent Benefit Building Society had gone well. There had, of course, been teething troubles, including the loss of some of the original Directors. On 16 June 1865, Richard Roberts resigned on leaving the district and was replaced on 8 September 1865, by G. Tindall. J. Dodds, who from the beginning was not a very regular attender at Board meetings, appears to have been displaced at the first Annual General Meeting on 1 December 1865 by T. A. Brown, described as a Salesman. It is to be presumed that this gentleman did not feel entirely at ease on the Board, for he remained a Director only six months before resigning. The vacancy was filled by the election of Charles Vickerman.* One month later, on 13 July 1866, Robert Wood joined the Board following the resigna- tion of Charles Denham. Leaving out of account the short stay of T. A. Brown, the loss of three of the founding fathers of the Society in the space of two years was a matter of regret. During the remaining six months of John Smith's two-and-a-half years of office as Secre- tary, moreover, the Society suffered the further loss by resignation on 25 January 1867, of another of the original Directors, Charles Smeeton. On this occasion, however, there were compensations. First, John H. Stuttard, the Director appointed to fill the vacancy, was to give long and outstanding service to the Society, becoming its third President in 1897.3 The other compensation which it is appropriate to mention here, although it actually occurred during - Henry Kaye's first year as Secretary, is that Charles Smeeton rejoined

1 George Tindall was a Printer and Engraver in New Street, Huddersfield. * Charles Vickerman was a Director of Benjamin Vickerman & Sons, Woollen Manufacturers of 53 New Street, Huddersfield and Taylor Hill, Almondbury. It is of interest that the 1871 directories show that by then the firm had moved to Britannia Buildings, which they occupied with Thomas Ramsden and George Crosland & Sons, also Woollen Manufacturers. John H. Stuttard was a Director of Carter and Stuttard, Painting Contractors, of King Street, Huddersfield.

Page 26

JOHN SMITH, 1864-7 1%

his colleagues on the Board on 2 November 1867, following the resignation of Robert Wood after some fourteen months as a Director.) During the latter months of John Smith's employment by the Society some minor amendments to the Rules were made. The only one of importance was a resolution on 6 November 1866, when it was agreed to hold the Annual General Meeting in October instead of December. On 30 November 1866 the Directors encountered trouble with the Society's Solicitor, Jonas Craven, on the matter of his charges, which it is appropriate to notice because the same difficulty was to arise a year later in a more acute form. The following resolution was recorded in the Board Minutes:

On the motion of Mr. Vickerman, seconded by Mr. Crosland, it was resolved that a letter be written to Mr. E. Brook in reply to his of the 24th Nov/66, expressing regret at the exorbitant charges made upon him by the Society's Solicitor on his receiving an advance, and that the Solicitor be also written acquainting him with the complaints made by the Members respecting his extra charges; and that in future all Bills for extra charges be laid before the Board previous to being paid.

The Directors were entitled to be severe, for Rule 57 set out a scale of 'Solicitor's Charges for Mortgages', by which Mr Craven had presumably agreed to abide. Evidently the Board was not severe enough, for the reprimand and the instruction were soon to be ignored, as will be seen. I have tried to give some account of John Smith's period as Secretary of the Society, brief though it was, partly because he was our first chief executive, and partly because it was during his term of office that a very young man entered our service who was to become an outstanding figure in our history. In the obituary of Henry Kaye in The Huddersfield Examiner of 5 March 1913, it was stated:

Mr. Kaye was practically the founder of the Huddersfield Building Society forty-eight years ago. After about eighteen months as clerk in the office he was appointed Secretary - a position he held for forty-five years.

Henry Kaye's employment as a clerk is not specifically mentioned in the Board Minutes, but a close examination of the Minute Books reveal a very interesting fact. It was John Smith's habit to take down

1 Robert Wood was a Shoemaker in Church Street, Huddersfield.

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16 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

the Minutes in rough longhand on separate sheets of lined blue paper (which we have preserved), and then copy them into the Minute Book for the signature of the President. Smith wrote in a good, legible, Victorian hand, but his writing is not to be compared with the beautiful and faultless copperplate in which the Minute Books were written up from 27 February 1865, continuing long after John Smith had resigned, and which may confidently be presumed to be the handwriting of Henty Kaye.

Page 28

Henry Kaye 1867-1912 PART I. 1867-82

ENRY KAYE's long period of service as the chief executive of Hour Society was of the greatest historical importance. His son and successor as our Secretary, William Henry Kaye, in an address delivered to the Annual General Meeting of the Building Societies' Association' held in Huddersfield in May 1913, two months after his father's death, pointed out that the Society's receipts during the first and last years of Henry Kaye's term of office were respectively £9,660.7.11d.* and £258,705.12.2d. These figures speak for themselves. They show that Henry Kaye saw the opportunity presented to the Society in the early years of his appoint- ment, which broadly coincided with the beginning of the period of real impetus in the growth of permanent building societies," from their small local beginnings to the immensely important position they now occupy as part of our social and economic life. For ordinary working men and women the grim poverty of the early nineteenth century had been replaced by a growing con- sciousness, doubtless influenced to some extent by the spread of elementary education as well as improving circumstances, of new

! For simplicity's sake I have used the title 'Building Societies' Association' throughout this book. Originally formed as the Building Societies' Protection Association 86) it became the Building Societies' Association (1886-1926), the National Association of Building Societies (1926-36) and finally in 1936, under new rules, The Building Societies' Association as it exists today. * These were the receipts for the year ending 2 September 1867, during which John Smith was the Secretary for the first half of the Financial Year. % As opposed to terminating societies, typical examples of which are known to have existed as early as 1793 in Horbury (which is in the West Riding of Yorkshire between Huddersfield and Wakefield), in 1795 in Birmingham, in 1809 in Greenwich, and in 1825 in Kircudbright. Both types of Society are defined in the Building Societies Act, 1874. Seymour J. Price places the date of the first small reference to terminating building societies in the Journal of the House of Commons as 2 May 1836, and the beginnings of 'the coming of the permanent type of society' as 1845. The latter development was largely if not wholly due to the work and influence of Arthur Scratchley, the distin- guished actuary and secretary of the old Western Life Assurance and Annuity Society, whose book Treatise on Benefit Building Societies was first published in 1847, its seventh and last edition appearing in 1891. (S. J. Price, op. cit., pp. 77, 80 and 119-21.)

17

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18 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

opportunities and rewards. In the manufacture of woollen and worsted cloth, for which Huddersfield was chiefly noted, hand labour was being displaced by machinery, trade was expanding and wages were increasing. For the first time the man in the street could see that a margin of his growing earnings could be available for saving after the necessities of life had been provided, an opportunity for thrift that could offer some measure of security against the uncertainties of illness and old age. Looking at the complementary aim of the pioneers of the Building Society movement, as exemplified by our original Directors, in the middle of the nineteenth century it was still a fairly revolutionary concept that the ordinary man should own his own house. Such an ideal, however, had established itself in the reforming, humanitarian movement of the period, a movement that found natural roots in the fast-growing, prosperous, industrial towns of the West Riding of Yorkshire, of which Huddersfield, like Halifax, Leeds and Bradford, was entirely typical. Henry Kaye was born of humble parentage in the village of Almondbury, near Huddersfield. It is to be presumed that he was educated at one of the ordinary day schools in the vicinity, for the excellent records of King James's Grammar School, Almondbury, contain no mention of his name. I have not been able to trace any details of his life before he entered the service of the Society as John Smith's assistant some time prior to February 1865, at the age of about twenty-one. When Henty Kaye married Hannah Ibberson, a schoolmistress, at Almondbury Parish Church on 6 September 1871, however, he described himself as an 'Accountant', so that it seems probable that he received some training in that profession before devoting his life to the Building Society movement, and to our Society in particular. In Henry Kaye's obituary in The Huddersfield Examiner of 5 March 1913, it was said that he had lived all his life in Almondbury. He devoted much time to his duties as a churchwarden of the Parish - Church, and he was one of the principal participants in meeting the cost of the church restoration in 1882. Henry Kaye was an honorary manager of the day schools in Almondbury, and honorary treasurer of the Mechanics' Institute. In June 1912 he was presented with an easy chair which had been subscribed by the scholars to mark the

_ 1 C. A. Hulbert, Annais of the Church and Parish of Almondbury (London, 1882), p. 261.

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HENRY KAYE PART I, 1867-82 19

completion of his fifty years' work for the Sunday School at Almond- bury. In the Parish Church there is a memorial window, the inscription of which reads:

To the glory of God and in Commemoration of the life long connection of Henry Kaye of Kirkroyd (1843-1913) and of Hannah his wife (1845- 1914) with the Church and Sunday School of this Parish.

His enthusiasm and devotion to the Society apart, Henry Kaye was a solid man, and I do not think that there can be any doubt that his fine personal character was a contribution of first importance to our early success. Men and women trusted him. It is probably true to say that many of our small investors of those days knew little about business - but they knew Henry Kaye, and that was sufficient. At the meeting of the Building Societies' Association in Huddersfield in May 1913, to which I have already referred, the toast of 'The Huddersfield Building Society' was proposed by the late David Lewis, 1.p., of Cheltenham," who said of the town and our Society:

As regards respectability, it needs no words of mine to say that that is the very mildest term that could be used to describe the people we meet. In such a soil it would perhaps be almost inevitable that Building Society work should flourish; and when the time came, and the man was found in the person of the late Secretary, Henry Kaye, to commence the work of this Huddersfield Society, success was certain. One has only to talk with those who worked with him to hear of the labour, the interest, and the enthusiasm that he put into the work, and if it can ever be said that the Secretary made the Society, I believe those who worked with Henry Kaye would be the first to acknowledge that his influence had perhaps more to do with the building up of this great Society than almost any other factor that was called into operation. We have but to look at the figures showing the growth of this Society during the last ten years to see what wonderful progress has been made.

Unfortunately, we have now no word picture of Henty Kaye in his early years available to us, but some stories of him have been recalled by old friends of mine, now retired, from my own days on the staff of the Society long ago. It was said of Henty Kaye that he constantly strove with energy and persistence to attract investing accounts to the Society, and that this unrelenting pursuit included both small savers and their children. It was said to be fatal for a

1 David Lewis, who died in 19 23091 the age of 85, was the sometime Secretary of the Cheltenham and Gloucester Building Society, and ultimately its President. He was a member of the Council of the Building Societies' Association from 1898 to 1934.

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20 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

member to bring an infant into the office, for if the Secretary failed to persuade the parent to open a savings account for his or her child, Henry Kaye would issue a pass-book himself then and there with a shilling out of his own pocket. Withdrawals were a different matter. In every case the member was seen by the Secretary and invited to confide in him why the money was needed, with the suggestion that a smaller amount would suffice. It is actually said of Henry Kaye (admittedly third-hand) that if the proposed sum was small and the case was needy, he would sometimes give the member money out of his own pocket rather than record a withdrawal from the Society's funds. Henry Kaye must have greatly impressed the Directors by his personality and his work as John Smith's assistant to cause them to appoint him as Secretary of the Society in March 1867, when he was still in his early twenties. The Board, however, did take some precautions 'to lessen the responsibility' of so young a Secretary, as it was tactfully resolved at a Board Meeting held on 10 September 1867. The instruction was given that whenever the amount of money in the hands of the Secretary reached £30 (and on Saturdays irrespec- tive of the amount) it should forthwith be paid into the Bank. Money received on the monthly subscription nights, the Board decreed, must be taken to the Bank on the following morning by a Director. The day book was to be balanced every night, and no alteration was to be made in the method of keeping the Society's books of account without the permission of the Board. The new Secretary was required to find security in the sume of £600. The Minutes do not record the date of the move to the Society's new and larger first-floor offices at 19 John William Street, but it was presumably shortly after Henry Kaye's appointment.! We were certainly installed there when our third Annual Report was drafted. We had three fine windows, facing what in 1867 were the premises of Messrs Thomson & Dodds, Woollen Manufacturers, and at least two rooms. ‘ It will be recalled that during John Smith's period of employment there had been some changes in the composition of the original Board. On 29 March 1867, when Henry Kaye became the Secretary, Messrs Hirst, Crosland, Scholefield, Shaw, and Woodcock remained

* The accounts for refitting the new office and the removal were passed for payment in June 1867. They included an amount of 8s. for 'cleaning and moving safe'.

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HENRY KAYE PART I, 1867-82 21

of the earliest Directors, augmented by Messrs Tindall, Vickerman, Wood, and Stuttard. On 16 May 1867, Henry Shaw, another of the original Directors, resigned from the Board and was replaced on 24 June of the same year by H. G. Duggan." The Society's third Financial Year closed on 2 September 1867, the assets having risen to over £13,000, including mortgage balances of slightly over £12,500 and cash in the Bank of over £370. It was reported that 224 new members had been enrolled during the year. The Annual General Meeting was again held in the Wellington Hall, Queen Street, Huddersfield, under the chairmanship of the President, Joseph Hirst. It is of interest to notice that the new Secretary, despite his youth, was allowed to read the Report and Accounts, after which the Chairman 'made a few observations respecting the steady progress made by the Society during the past year'. In accord- ance with Rule 9, which required the retirement of four Directors at each Annual General Meeting in rotation, Messrs Hirst, Crosland, Vickerman, and Tindall retired but were re-elected. The operation of Rule 9 seems to have depended upon a simple vote and was not devoid of hazard, as was to be demonstrated on a later occasion. As I have mentioned, Robert Wood resigned and Charles Smeeton came back on to the Board on 2 November 1867 under Rule 12, which allowed the Board to fill vacancies during the year by co-option. On 29 November 1867, a somewhat ominous, if guarded, Minute recorded that the five Directors present felt that before any action was taken in regard to the Society's Solicitor, as many members of the Board as possible should meet on 11 December to consider the matter. The latter meeting was a special one to deal with this single item, which was again to consider complaints by borrowing members in regard to 'private bills' presented by Mr Jonas Craven 'over and above the authorised charges for examination of Title and drawing up Mortgages'. It was decided that in two cases the Solicitor had 'exceeded his duty in causing expense to the parties without first being authorised by the Board of Directors'. It was resolved 'that in future no action shall be taken by the Solicitor to the Society causing expense to any Borrower, without the direction of the Board, but the Solicitor shall in all cases report upon the Title Deeds as handed to him by the Secretary of the Society'. This moderate resolution,

* H. G, Duggan was a Flock Dealer at 15 Market Street, Huddersfield.

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22 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

it may be thought, showed considerable tolerance on the part of the Board, for it will be recalled that only a year previously in the face of a similar complaint the Directors had decreed that all Mr Craven's bills for extra charges' should be submitted to the Board. Jonas Craven must have been a capable lawyer, persuasive and disarming in defending his position, for he continued to serve the Society as its Solicitor for many years to come, on terms of restored mutual goodwill with the Board. On 16 June 1868, the Board suffered the loss by resignation of G. Tindall, and the vacancy was not filled until 27 October, the date of the fourth Annual General Meeting of the Society. The meeting was again held, as it was to be held for many years to come, in the Wellington The President, who was now referred to with added deference as 'Mr. Councillor Joseph took the Chair. It will be recalled that as early as 24 July 1865, the Sub-Committee appointed to examine the Rules had expressed some concern over Rule 9, and the fourth Annual General Meeting underlined its dangers. The principal matter of note about this meeting, which marked the end of a successful if fairly uneventful year of 'steady and satisfactory progress', in the words of the President, was the election of no less than four new Directors, J. E. Webb,* J. Sykes,$3 W. Faw- cett,4 and T. Armitage.5 These gentlemen displaced Messrs Duggan, Scholefield (the Vice-President), and Woodcock, and filled the vacancy caused by the resignation of G. Tindall. Fortunately, this was the last of these early upheavals on the Board. In the event, the future stability of the Board was assured by the regular re-election of the President, Joseph Hirst, the two future Presidents, Frederick Crosland (who was elected Vice-President on 30 October 1868) and John H. Stuttard who, with C. Vickerman and C. Smeeton formed what might be termed the 'old guard' of the Board and tended from then on to dominate its proceedings, assisted as the years passed by the increasing influence of the Secretary.

* The locations of the Annual and Special Meetings of the Society are tabulated in Appendix XIII. * J. E. Webb was a Woollen Merchant in Station Street, Huddersfield. * J. Sykes was probably a Woollen Merchant. This initial and name was very common in Huddersfield in 1868. 4 W. Fawcett was a Timber Merchant in Viaduct Street, Huddersfield. 5 T. Armitage was a partner in Lidster & Armitage, Plumbers, of John William Street, Huddersfield.

Page 34

PLATE 1

The Society's Office at 28 King Street (at its junction with Queen Street), Huddersfield in 1864

Page 35

The Society's Office at 19 John William Street, Huddersfield in 1867

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HENRY KAYE PART I, 1867-82 23

The continued expansion of the Society evidently began to cause problems in office space. On 27 November 1868, the President was asked 'to wait upon Mr. Wright, the Landlord, for the purpose of taking the whole of the premises into the Society's hands'. If this suggestion had borne fruit and we had additionally acquired the ground and second floors of 19 John William Street, it is interesting to speculate how long we might have remained at that address instead of moving to 37 John William Street in 1882. Mr Hirst was unsuccessful in his mission, however, for a Mr Jubb had forestalled us by taking a lease of the premises. This disappointment (which was to be repeated in a few years in curious circumstances) did not deter the Society from a determination to enlarge its operations, and on 6 August 1869, a Committee was formed consisting of the President, the Vice-President and the Secretary to consider 'the Society's present advertisements in local papers, with regard to the alteration thereof, and to take any further steps they may deem advisable in order to bring before the public the many advantages of the Society'. ' The fifth Annual General Meeting was held on 26 October 1869 'when a larger number of members was present than on any previous occasion', according to the Minutes. The assets of the Society were now over £21,000, and the Secretary was highly complimented 'on the creditable manner in which the books were kept'. The Board, evidently now enjoying the. complete confidence of the members, encountered nothing but calm water and the retiring Directors, Messrs Hirst, Crosland, Vickerman, and Stuttard, were unanimously re-elected. A month later, on 26 November 1869, W. Fawcett attended his last Board Meeting. His death is only indirectly recorded in the Minutes of the meeting of 22 April 1870, when it was resolved 'that Mr. Joseph Radcliffe! be appointed a Director of this Society in place of Mr. William Fawcett, Mr Fawcett, it will be recalled, was one of the four Directors elected together under Rule 9 at the Annual General Meeting on 27 October 1868. John H. Stuttard was Mr Radcliffe's principal sponsor, so that it may be presumed that he was acceptable to the senior Directors.

1 Joseph Radcliffe was a partner in the firm of John Radcliffe & Sons, the Huddersfield building contractors. At his death in 1872, his brother and partner William succeeded him as a Director of the Society. In 1897 William Radcliffe's son Lewis, a future Presi- dent of the Society, was elected to the Board. My friend and fellow-Director, Herbert Radcliffe, is the grandson of William Radcliffe and the nephew of Lewis Radcliffe.

3

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24 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

During the ensuing Financial Year, the Board became dis- satisfied with what were considered to be the excessive charges made by the West Riding Union Banking Company for the conduct of the Society's account, and critical Minutes on the subject were recorded on 21 January, 22 February, and 22 March 1870. Negotia- tions with the Bank were attempted by the President, but the Bank proved obdurate. On 24 March 1870, by a resolution of the Board, the Society's account was transferred to the Huddersfield Banking Company. In retrospect, the obstinacy of the Society's original Bankers over the amount of their charges seems surprising, since it resulted in the loss of a customer whose business was increasing every year. By 31 August 1870, the end of the Society's sixth Financial Year, the assets had increased to nearly £25,000. At the Annual General Meeting on 25 October, Frederick Crosland, the Vice-President, deputised for the President who was indisposed. In presenting the Annual Report and Accounts, Mr Crosland observed that the year had been 'one of unprecedented success'. Once again the Secretary was praised for his work, and the four retiring Directors, Messrs Smeeton, Armitage, Webb, and Sykes, were unanimously re-elected. Mr Jonas Craven, our Solicitor, who had survived the criticisms of his charges two years previously, proposed a vote of thanks 'in complimentary terms' to all concerned. As had now become customary, Joseph Hirst and Frederick Crosland continued as President and Vice-President. The seventh Annual Report and Accounts, presented by Joseph Hirst at the Annual General Meeting on 31 October 1871, was clearly regarded by the Board as a natural milestone in the affairs of the Society. The President observed with pride that the Society had 'completed its seven years apprenticeship, without having incurred one penny of loss'. No specific claim was made for the operations of the seventh year itself, other than that there had been 'an increase in each department of the Society's business' whilst withdrawals were satis- factorily down by approximately £1,000 compared with the previous year. What was claimed, and in my view rightly claimed, was that 'every year of the Society's history has been one of steady progress'. A new feature of the printed Report was headed 'Progress of the Society from its showing each year's increasing gross intake of investments. The assets were nearly £32,000 and 'the Society was never in a more prosperous condition than at present'.

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HENRY KAYE PART I, 1867-82 25

Almost as a matter of routine, it would now seem, the retiring Directors, Messrs Hirst, Crosland, Vickerman, and Radcliffe, were re-elected 'with acclamation'. b During this seventh year of the life of the Society, one or two matters of interest had been recorded in the Minutes, together with one hitherto unsolved mystery in connexion with the Society's premises. On 17 March 1871, the Board showed commendable compassion in a serious eight months arrears case of a borrower named Sims, where the stage had been reached of stern letters from the Society's Solicitor. On learning that Mr Sims was recovering from an illness, the Board instructed Mr Craven 'to desist from further action'. Advertising the facilities of the Society continued to occupy the attention of the Directors and on 12 May 1871, the Secretary was instructed to prepare 'a placard suitable for posting in order to bring the Society more prominently before the public'. On the other hand, an application by a Mr Thomas Jessop 'for an Agency at Kirkheaton [was] declined, as the Directors are of opinion that it would not be desirable to open a branch of this Society there at present'. On 15 August 1871, the following important Minute was recorded :

On the motion of Mr. Vickerman, seconded by Mr. Stuttard, resolved that Messrs. J. Hirst and F. Crosland be deputed to wait upon Mr. Wright [the Society's landlord] and ascertain the lowest terms upon which he will let to the Society the shop and cellar underneath also our present offices and the rooms over, the whole of which is now let for £72 per annum. Should Mr Wright decline to reduce the present rent the said deputation are hereby empowered to offer £65 per annum and if this offer be refused then other premises for the Society are to be looked out for.

Since the Accounts showed that the Society was paying £30 for its first-floor offices, the balance of £42 that Mr Wright was receiving for the basement, the ground floor shop and some second-floor accommodation may, in retrospect, be thought to have been exceed- ingly reasonable. However that may be, the Directors considered

* This interest in advertising was continuous, and on 24 November 1871, it was resolved that a card be designed 'suitable to hang in Mills or any public place in order that the advantages of this Society may be more generally known'.

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26 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

that £65 per annum for the whole property was enough.! On 1 September the President reported that he and his co-Director 'had waited upon Mr. Wright on Tuesday evening, the 29th August, 1871 when Mr. Wright informed them that he would be glad to accept the Society either for the rooms they now occupy or the whole of the premises'. It was resolved that the deputation 'be again requested to wait upon Mr. Wright and take the whole of the premises on the best terms they could'. As the Board's authority to settle the terms for the Society's occupation of the whole building, including the all-important ground floor, was open-ended, it is most difficult to understand why agree- ment was not reached with Mr Wright. That it was not is demon- strated by the fact that the Accounts show that the Society continued to pay the original rent of £30 per annum. More perplexing still is that no further reference of any kind to the matter was made in the Minutes. As had been previously demonstrated in the case of W. Fawcett, it was not the habit of the Board in these early years to record with precision the deaths of Directors in the Minutes. Thus the passing of C. Smeeton (whose last attendance had been at the seventh Annual General Meeting) was first mentioned in a resolution on 19 January 1872, that the President and Vice-President 'be deputed to wait upon Mr. T. K. Mellor and request him to become a Director of this Society in the place of Mr. C. Smeeton, deceased'. On 16 February it was reported that Mr Mellor (who was to be a future President of the Society) felt himself unable to accept a seat on the Board at present, and Joseph Goodwin was therefore elected as a The date of death of J. Radcliffe was similarly not recorded. It evidently occurred shortly before 30 August 1872, for on that day it was resolved 'that a letter of condolence be sent to the Widow of our late Director Mr. Jos. Radcliffie'. At the same meeting it was

* The Board could apparently be stubborn over money matters. On 15 August 1871, for example, it was decided to explore the possibility of having 'a knife-and-fork tea' for the nourishment of those who attended the forthcoming Annual General Meeting. On 22 August the New Market Dining Rooms quoted a price of 1s. 6d. per head. It was firmly resolved on 1 September that this was a heavy charge, and the idea was abandoned. On the other hand, on the 29th of the same month, the Secretary was empowered to purchase an umbrella stand and a rug for the office. * Joseph Goodwin was a Director of William Goodwin & Sons, Slate Merchants, of Chapel Hill, Huddersfield.

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HENRY KAYE PART I, 1867-82 27

resolved that 'Mr. William Radcliffe be elected a Director in the place of his brother Jos. Radcliffe, deceased'. At the eighth Annual General Meeting held in the Wellington Hall on 29 October 1872, Joseph Hirst said from the Chair that it was a source of considerable satisfaction to the Directors that they could come before the members yet again with such a good report on the position of the Society. The assets were now nearly £37,000, and not one penny had been lost during eight years of ever-increasing operations. One of the auditors, W. E. Thomas, reported 'that the books of the Society were kept in admirable order and reflected great credit on the Secretary, Mr. Kaye'. It would seem that the Society's solicitors (now Messrs Craven & Sunderland, Jonas Craven having taken in a partner) had completely emerged from the past troubles over their fees. In seconding the resolution to adopt the Report and Accounts, F. Crosland remarked that the solicitors' charges 'were the lowest of any Society in the neighbourhood'. Messrs Stuttard, Webb, and Goodwin were re-elected to the Board but J. Sykes, one of the four Directors elected under Rule 9 at the Annual General Meeting in 1868, was himself displaced at the 1872 meeting by J. In general terms, however, the existing order of things persisted and at the Board Meeting on 22 November 1872, J. Hirst and F. Crosland were re-elected President and Vice- President without any other nominations. The ninth Annual General Meeting was held on 31 October 1873. The assets had risen to nearly £42,000. Mr Hirst, in moving the adoption of the Report and Accounts, spoke with satisfaction of the high standard of the Society's securities, which he described as the keystone of its excellent position. The President claimed that there was not a healthier Building Society than the Huddersfield, for out of some £66,000 advanced to borrowers since the commencement of the Society's operations, not one penny of loss had been incurred. A member of the Society, Mr John Dawson, wished to know (against the background of this prosperity) when the Directors proposed to declare a bonus, as the surplus in the accounts was nearly £1,000. Answering for the Board, Mr Crosland said that in view of the Society's turnover, the Directors did not consider that a reserve of £1,000 was too high, but that he and his colleagues would be

1 J, Christie was a Builder and Joiner in West Parade, Huddersfield.

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28 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

willing to declare as profits any amount over that sum in the future." Mr Vickerman also made some 'very appropriate observations with reference to the reserve fund, and remarked that the Directors had never received or wanted to receive one farthing for their services'. Mr W. E. Thomas, responding to a vote of thanks to the Auditors, observed that he had served the Society in this capacity since its establishment, and 'expressed his unqualified satisfaction with the accounts of the Society, and the admirable manner in which the books were kept'. An agreeable feature of the ninth Annual General Meeting was that Wright Mellor, J.P., one of our two Trustees, was present in his dual capacity as Mayor of Huddersfield.® Messrs Hirst, Crosland, Vickerman, and Armitage were re-elected as Directors, and at the next Board Meeting, Messrs Hirst and Crosland were reappointed as President and Vice-President. An informative feature of the Minutes of both the years 1873 and 1874 was that the Secretary's remuneration was capable of precise calculation. At Board Meetings on 29 August 1873 and 28 August 1874, it was resolved that the Secretary's commission should be at the rate of 15s. per cent on the total receipts of the Share and Deposit departments. Henry Kaye's remuneration for these two years would therefore amount to £178 and £228 per annum respec- tively, which one supposes was not unreasonable for a man of thirty in the second half of the nineteenth century. The tenth Annual General Meeting was held as usual in the Wellington Hall, on 27 October 1874. The assets of the Society were now over £51,000. The President announced that the Directors had pleasure in recommending a bonus of 2s. in the pound on the interest for the past year to be paid equally to investors and borrowers. The payment of the bonus would still leave a reserve fund of over £1,000. T'wo members of the Society, Messrs Holland and Ellam, respectively proposed and seconded a vote of thanks to the Board, coupled with a resolution that a present of £20 be made

! This undertaking was honoured the following year, but not without careful prepara- tion. On 28 August 1874, the Secretary was requested to visit both the Leeds and Bradford Building Societies in order to ascertain their method of declaring profit. At the next Board Meeting on 25 September a sub-committee was formed to decide the amount of bonus to be declared in the tenth Annual Report. * Alderman Wright Mellor, J.p., p.., was the Managing Director of Wright Mellor & Co., Woollen Manufacturers and Merchants, of Northumberland Street, and one of the leading citizens of Huddersfield. He was President of the Chamber of Commerce, President of Huddersfield College, a County and Borough magistrate, and Chairman of the Huddersfield School Board.

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HENRY KAYE PART I, 1867-82 29

to the Directors for their valuable and efficient service to the share- holders. Replying for the Directors, J. H. Stuttard said that both he and his fellow members of the Board respectfully declined any payment for their work. Speaking for himself, Mr Stuttard said that so long as it was the pleasure of the members that he should hold the appointment of Director, he would endeavour to do his best for the Society. Together with Messrs Webb, Goodwin, and Rad- cliffe, he was unanimously re-elected, and at the Board Meeting on 22 November 1874 the President and Vice-President were re- appointed. The Society continued its steady and uniform progress, and at the eleventh Annual General Meeting held on 29 October 1875, Joseph Hirst was constrained to say, after reporting an increase in assets to over £62,000:

From its establishment the career of the Society has been so uniformly progressive, and at the same time so absolutely free from loss, that each Report has been very like its predecessor.

The President added that on this occasion, however, there were some new features which the Directors considered were worthy of special notice. In cases of instalment advances on houses in course of construction it seemed that some Societies were charging interest on the whole advance sought from the date of the first instalment, whereas our Society was charging interest only on the amounts actually received. An innovation was the examination of every title- deed held by the Society by the two Trustees, Wright Mellor and William Mallinson, and their certificate formed part of the printed Report. As at the end of the previous year a bonus was declared for the benefit of both investors and borrowers, this time of 10% on the interest during the year." Messrs Hirst, Crosland, Vickerman, and Christie were unanimously re-elected as Directors, and the President was especially thanked 'for the care and attention he had bestowed on the Society from its commencement in 1864'. The Society's new year started quietly and traditionally with the re-election of the President and Vice-President on 19 November 1875. At the next Board Meeting on 18 December it was resolved

* A bonus of 10% on interest during the year was paid to investors and borrowers from 1875 to 1890 inclusive, and need not be mentioned in the reports of the Annual Meetings. The bonuses paid by the Society are tabulated in Appendix XI.

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30 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

that the village of Shelley be visited at the earliest opportunity to report on the establishment of an Agency, and this task was under- taken on 30 December by the President, the Vice-President, and the Secretary. A meeting was arranged at the Shelley Liberal Club Rooms, and the portents were considered favourable. A suitable agent, Mr Wright Barden, was available, and the Society's second Agency duly opened at the Liberal Club Rooms on 28 February 1876. At a Board Meeting on 14 January 1876, the fact that Thomas Armitage was no longer a member of the Society and therefore was unqualified to sit on the Board, was noted with regret. This was a sad business, for Mr Armitage had been a Director since his election at the Annual General Meeting on 27 October 1868. George Slater! was co-opted in his place, and took his seat on the Board on 11 February 1876. During the year the Society's advertising was increased to weekly notices in The Huddersfield Examiner (from advertisements in alternate weeks) and the Secretary was asked to draw up a new Prospectus of the Society. A shrewd resolution was adopted on 23 September 1876, that no bonus be allowed to borrowers whose arrears were brought to the notice of the Board, unless these were paid off previous to the Annual General Meeting. The twelfth Annual General Meeting, marking a rise in the assets of the Society to nearly £74,000, was held on 31 October 1876. Joseph Hirst presided, but was described as not being in a good state of health, and in consequence the Vice-President moved the adoption of the Report and Accounts after these had been read, as always, by Henry Kaye. A noteworthy observation was that 3,447 members had joined the Society since its inception, and that the past year had shown a greater increase than on any previous occasion. The members were urged to assist the Directors particularly in attracting new borrowers to take advantage of the facilities offered by the Society, which now included a repayment term of up to twenty-four _ years. Messrs Stuttard, Goodwin, Webb, and Slater were unani- mously re-elected Directors. A suggestion with which the Board had previously dallied, as will be recalled, was now publicly proposed by Jonas Craven, the

* George Slater was a Master Plumber of Horsfall's Yard, Huddersfield.

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HENRY KAYE PART I, 1867-82 31

Solicitor, and James Kirk, the Surveyor. This was that the next Annual General Meeting should be preceded by a knife-and-fork tea. On this obviously popular proposal being put to the meeting, it was carried with applause. It is appropriate in this context to look ahead to the next (thirteenth) Annual General Meeting of the Society held on 27 October 1877, and to notice that it 'was the best attended and most successful meeting ever held in connexion with the Society', according to the report in The Huddersfield Examiner of 30 October 1877. - The year leading up to this meeting had not been eventful. The assets amounted to over £87,000 and there was a corresponding increase in the turnover of every department of the Society's business. After an absence of several months, possibly connected with the indisposition mentioned in the report of the twelfth Annual General Meeting, Joseph Hirst resumed his attendance and chairmanship of the Board Meetings on 29 June 1877, and presided over the thirteenth Annual General Meeting on 27 October. He remarked with satis- faction that the introduction of the longer repayment term of twenty- four years had attracted more borrowing members, and that most of the surplus funds had now been advanced. Messrs Hirst, Crosland, and Vickerman were unanimously re-elected to the Board, but J. Christie was displaced by Anthony Huddleston.* Mr Heywood, in moving a vote of thanks to the Directors, paid a high compliment to the Board for the manner in which they con- ducted the affairs of the Society. He further observed that the thanks of the members ought to take a more substantial form, and therefore had great pleasure in pressing that a present of twenty guineas be accep- ted by the Directors and Officers for them to spend as they thought fit. Mr Charles Vickerman, replying for the Board, spoke of the way in which the Society encouraged to the greatest possible extent habits of thrift, upon which the working classes must greatly depend for provision against sickness and old age. He made an urgent appeal for more people to join the Society and commence saving, be it

* The only parallel to this provision of food and drink for supporters of the Society in the pattern of our current activities nearly a century later, is on the occasion of the opening of new branches. As an old Building Society man I can claim to have a large experience of these festivities, and I think it only fair to record that enthusiasm for them among our professional and business friends does not seem to be limited to solicitors and surveyors. * Anthony Huddleston, who later became a Councillor, was a Director of Wilson, grlaavis & Co., Carriage Manufacturers, of Brook Street and Fountain Street, Hudders- eld.

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3 2 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

ever so small, as it was only a beginning that was required. In so doing they would not only contribute to their own interest, but would encourage in others those habits of thrift and self-dependence which lie at the very foundation of a man's success in life. In paying a compliment to the Surveyors, Mr J. H. Stuttard referred to the large amount of business Mr John Kirk had himself introduced to the Society, and concluded by moving that the best thanks of the meeting be tendered to his son, Mr James Kirk, for the very great care he exercised in preparing the valuations of properties, on which the Directors made advances. The President, in reply to a vote of thanks to himself, remarked that he had been the President of the Society from its commencement, and that so long as it was the pleasure of the members to elect him, he would con- tinue to do his best for the Society. As was now a matter of routine, the President and Vice-President were re-appointed at the Board Meeting on 14 December 1877. It may be thought that the ultimate decision on the spending of the twenty guineas voted to the Directors and Officers of the Society was perhaps tinged with a lack of gallantry. On the other hand business was business (especially in hard-headed Huddersfield) and even in 1878 there were limits on what could be done with twenty guineas if it was to be assumed that in no circumstances were the Directors to spend any money of their own. The first decision at a Board Meeting on 31 May was that the money be spent on a visit to Fountains Abbey, each gentleman to take a lady. A sub-committee appointed to make the arrangements, met on 4 June 1878, however, and decided to recommend that in addition to the Secretary and the Surveyor, the Auditors, the Treasurer, and the Meltham and Shelley Agents, and not the ladies, should accompany the Directors on the excursion. At a special Board Meeting on 7 June it was resolved that the latter recommendation be accepted, and that the portion of the Minute of the earlier Board Meeting relating to the ladies be rescinded. ' The visit to Fountains Abbey on 28 June 1878, was reported at length in The Huddersfield Examiner of 6 July. All nine Directors and seven officers left Huddersfield at 6.347 a.m. in perfect weather and travelled to Ripon in a private saloon railway carriage. They were driven in two wagonettes from Ripon station to the Crown Hotel, where a hearty breakfast was taken. After an inspection of the Cathedral, the party proceeded in its wagonettes to Studley Royal

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HENRY KAYE PART I, 1867-82 33

and Fountains Abbey. After lunch, a visit was made to Hackfall. Dinner was also served at the Crown Hotel, Ripon. The somewhat flamboyant report contributed to The Huddersfield Examiner was unsigned, but I suspect that the author may have been James Kirk, the Society's Surveyor, to whom the arrangements had been entrusted and whose interest in food and drink had already been demonstrated by his recommendation of a knife-and-fork tea at the Annual General Meeting. Referring to the dinner party at Ripon it was said::

How we dined on viands rich and rare - how we toasted the Queen and the Royal Family - what speeches were made by Mr. Fred Crosland, Vice-President, Mr. Jonas Craven, Solicitor of the Society, and others - how success was drunk to the Society, to the Town of Huddersfield &c. cannot now be narrated. How a number of middle aged and elderly gentlemen renewed their youth on the home journey, and sang songs that were popular in the days of poor Delavanti, and have never been heard in public since - all these are things which words are inadequate to describe. And when these ebullitions of a revival of youthful feeling had subsided, and the speech making was once more resumed, and the Society's prospects were reviewed, every one felt strengthened and encouraged in his resolve to labour still more earnestly in future for the promotion of societies which have done such an immense amount of good in encouraging habits of thrift, economy, and foresight among the middle and working classes of this district. This first holiday, during a period of fourteen years, had been a genuine holiday, and had proved an un- bounded success. May the next be equally successful and equally well deserved.

The Society's fourteenth Annual General Meeting was held on 26 October 1878. The printed Report and Accounts had been doubled in size, and for the first time the names of the Directors and Officers were listed. The assets had risen to over £99,000. It was noticed with satisfaction that the Meltham agency had now 194 members and that the new Shelley agency had already attracted forty-four members in that village. The Directors urged upon the members present the importance of inducing new borrowers to avail themselves of the advantages of the Society. £6,000 was available for immediate lending, and in view of the period of repayment now being as long as twenty-four years, coupled with the bonus and the very reasonable solicitors' and surveyors' charges, it was felt that there should be no difficulty in finding new mortgagors. All the retiring Directors were re-elected unanimously and a vote of thanks to the Chairman, Mr Joseph Hirst, referred as usual to the interest

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34 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

he had manifested in the Society from its first establishment. It was resolved as at the previous Annual General Meetings that the sum of twenty guineas be presented to the Directors and Officers to spend as they wished. The Minutes of the period showed that the Board were constantly seeking to improve the offices of the Society. At a Board Meeting of 7 February 1879, Messrs Hirst and Radcliffe were invited to enquire about the adjoining premises occupied by Messrs Bentley & Shaw as it was understood that this firm might be giving up posses- sion on 1 June. Unfortunately, at the following Board Meeting of 7 March it was reported that Messrs Bentley & Shaw proposed to continue their occupation. This was a disappointment, because the Society would have been willing to take the additional accommoda- tion on a lease of up to ten years. At the same Board Meeting the resolution on the Secretary's commission showed that Henty Kaye's remuneration had now risen to over £400 per annum. After discussions at Board Meetings on 30 May and 17 June 1879, it was decided that the Directors and Officers would visit the Dukeries on 25 June, travelling by private saloon railway carriage and taking refreshments at either the Lion or the Station Hotels at Worksop. Unfortunately, if this visit was reported in The Huddersfield Examiner, no cutting has been preserved in our Minute Book and we can only assume therefore that the day's holiday was enjoyable and successful. The fifteenth Annual General Meeting was held on 25 October 1879 and can be regarded as a milestone in the Society's affairs in that the assets, now over £110,000, had reached six figures. The retiring Directors were unanimously re-appointed, and the now customary twenty guineas was voted to the Directors and Officers for their annual trip. Mr W. Mallinson, one of the Trustees, remarked that he had every confidence in the Society, and complimented the Directors on being able to place before the members in difficult times so highly satisfactory a report. He considered, however, that. the time had arrived when the Directors should make every effort to find more suitable premises than those now occupied by so successful a Society. At the Board Meeting of 28 May 1880, it was resolved that the Directors and Officers should spend the twenty guineas voted to them on a visit to Chatsworth House on Wednesday, 16 June, and a report of this excursion appeared in The Huddersfield Examiner.

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HENRY KAYE PART I, 1867-82 35

The President was not able to accompany the party because of illness, and Frederick Crosland therefore presided over the day's activities. The party of fourteen gentlemen left Huddersfield at 6.50 a.m. in a first-class saloon railway carriage bound for Sheffield, and left that town for Derbyshire in two wagonettes amid a continuous drizzle, which changed to a Scotch mist when Bakewell was reached. It was remarked in the press report that 'the Society exists for the sake of making provision for a rainy day in a metaphorical sense, and on Wednesday the first of the kind was encountered literally'. Breakfast at the Rutland Arms no doubt restored the cheerfulness of the travellers before the visit to Haddon Hall and Chatsworth House. The report said that 'good humour was the order of the day, possibly to compensate for the dampness of the atmosphere'. The party returned to the Rutland Arms at Bakewell, where 'a superb dinner was placed on the table'. At six o'clock the party once more took the road to Sheffield and the reserved saloon carriage to Huddersfield. It was said in the report that every single member of the party made one speech at least (and some more than one) and that the day came to a happy end amidst mutual good wishes and an increased desire on the part of all present to do their utmost for the best interests of the Society. It may seem remarkable to us, living nearly a century later, that a day's excursion of this kind could be arranged at a total cost of well under £2.00 per head. The Directors' decision that 1s. 6d. was too high a price to pay for a knife-and-fork tea will be recalled in this context, however, and it is of similar interest to read a Minute of the Board Meeting of 23 July 1880. The stewards at Meltham, through the agent, Mr T. H. Lawford, had petitioned for an increase in remuneration at the subscription meetings, because of the enlarged membership. It was resolved by the Board that the stewards' fees should be raised from 1s. to 2s. per night, commencing at the beginning of the Society's financial year in September. At the Board Meeting on 20 August 1880, it was resolved that F. Crosland and W. Radcliffe be asked to make enquiries regarding the ground-floor premises 37 John William Street, at the corner of St Peter's Street [obliquely opposite our present rear entrance to Britannia Buildings], occupied by John Chapman & Son, music dealers. The Directors considered that the position of this excellent ground-floor property was very suitable for the Society should it become vacant.

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36 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

The sixteenth Annual General Meeting was held on 30 October 1880. Although Mr Joseph Hirst had been absent from a number of Board Meetings, due to ill-health, he did take the Chair at the Annual General Meeting. In consequence, however, of his 'not being in a good state of health', Mr F. Crosland, the Vice-President, moved the adoption of the Report.! The assets of the Society had risen to over £123,000 and the Chairman thanked the members for the manner in which they had responded to his appeal for an increase in borrowers at the previous Annual General Meeting. All the retiring Directors were re-elected, and Charles Vickerman, who was to be the next Vice-President of the Society, was now referred to as Mr Councillor C. Vickerman. A sad note at this meeting was the retirement of the auditor, Mr W. E. Thomas, who had served the Society in this capacity since 1864. His place was filled by the appoint- ment of Mr J. Bate. Once again, twenty guineas was voted to the Directors for their summer excursion.

The following Minute was recorded at the Board Meeting of 27 May 1881: ‘

Death of President. The Directors regret to have to record the decease on 1 May of their esteemed President, Mr. Councillor Joseph Hirst, who was one of the founders of this Society and was appointed its first President on 19 August 1864,* which office he held up to the time of his death. The Directors feel that they cannot pay too high a tribute to the memory of one whose sound judgment and business qualities have been of so much value to the Society in aiding it in its early struggles and guiding it to its present success. They would also tender to his widow and family their sincere sympathy and condolences on their sad bereavement. Copy of the above sent to Mrs. Hirst on 28 May 1881. Election of President and Vice-President. On the motion of W. Rad- cliffe, seconded by G. Slater, resolved that F. Crosland (present Vice- President) be elected President (in place of Joseph Hirst deceased) and on the motion of J. H. Stuttard, seconded by W. Radcliffe, resolved that C. Vickerman be appointed Vice-President.

Shortly before the seventeenth Annual General Meeting, held on | 29 October 1881, a printed circular dated 16 September was pasted

* This was to be Mr Hirst's last Annual General Meeting. His courage and his devo- tion to the Society, which he served to the end of his life, cannot be doubted, for in his last years he must have been a very sick man indeed. He was to die on 1 May 1881, at the age of 57, of 'Bright's kidney disease, anasarca [dropsy] and epilepsy', according to his death certificate. * This was not quite right. Joseph Hirst was in the Chair at the meeting on 19 August, and was elected President on 30 August 1864.

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HENRY KAYE PART I, 1867-82 37

into the Minute Book. It had been sent to all members over the name of the Secretary, and said that in consequence of the long and continuing cheap rate of money, the Directors had resolved to reduce the rate of interest on Deposits from 3%$% to 3%. That this adjustment was necessary was demonstrated by the Society's large balance of £6,757 at the Huddersfield Banking Company. Frederick presided at the Annual General Meeting. He reported a rise in assets to nearly £132,000, and in declaring the usual bonus of 10% on interest to investors and borrowers, observed that nearly £2,730 had already been paid to the shareholders in this way. The members were urged to do their best to introduce new borrowers. Messrs Crosland, Vickerman, and Huddleston were re-elected as Directors, and William Roberts* was appointed to fill the vacancy on the Board caused by the death of Joseph Hirst. The now customary twenty guineas was voted to the Directors and Officers for their annual excursion, which in the event was a visit to Welbeck on 12 July 1882. The matter of the proposed move by the Society to 37 John William Street appeared again in the Minutes of the Board Meeting of 3 February 1882. Matters had evidently progressed favourably since the first mention of the proposal on 20 August 1881, for it was resolved that the President, the Vice-President and W. be appointed to wait upon the owner of the property, Joseph Crosland, 'with reference to the taking of his premises, now occupied by Messrs Chapman, which will become vacant in June next'. That the Society's tenure was satisfactorily negotiated (although not reported in the Minute Book) was demonstrated by a report of the Board Meeting of 12 July 1882, when it was resolved 'that the work required to be done in altering and fitting out the new offices be let to the following contractors, under the direction and supervision of James S. Kirk, the Society's Surveyor'. Among the five contracts, the tenders for the mason's, plumber's and painter's work by the firms owned by three Directors of the Society, respectively W. Radcliffe, G. Slater, and J. H. Stuttard, were evidently the most competitive and satisfactory. The alterations were completed and the removal accomplished in good time for the eighteenth Annual

1 Frederick Crosland was to be the President of the Society from 1881 to 1897, only one year less than his predecessor Joseph Hirst. * William Roberts was a Leather Merchant and Currier in John William Street, Huddersfield.

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38 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

General Meeting, held on 28 October 1882. This is demonstrated by the fact that the printed Report and Accounts, circulated before that meeting, bore the new address, together with the following announcement:

The Society has now removed to ground floor premises 37 John William Street. The Directors readily seized the opportunity which so good a position offered, and many members have expressed themselves highly satisfied with the new offices, which are easier of access and otherwise more suitable to the requirements of the Society.

The year 1882, when we established ourselves in our new ground floor offices in a commanding position in John William Street, seems to me to be a natural milestone in the history of our Society. It is a point in our affairs at which to pause, before taking up the story of the remaining thirty years of Henry Kaye's period as our chief executive. Joseph Hirst, our first President, had died in office during the previous year, after leading the Society with distinction for seventeen years. He had lived to see the Society achieve its first £100,000 of assets, which in those far-off days of small beginnings doubtless seemed an impressive and magical figure. He had lived to see, probably with mingled feelings, the members of the original Board disappear one by one until only he and Frederick Crosland remained of the nine Directors appointed under the Rules in 1864. Our first two Presidents had survived the test of this entirely natural period of evolution and selection in the Society's affairs, and had been joined on the Board by equally solid men, typified by Charles Vickerman, John H. Stuttard, and William Radclifie. Henty Kaye, a young man in his twenties with only two years' experience in the Society's service when the Board took the decision to appoint him as Secretary in 1867, was now, at the age of nearly forty, a skilled and devoted chief executive whose experience and ability was to grow concurrently with the progress of our Society, which he was to serve until 1912.

Page 52

A.

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wallet mei... Se see

The Society's Office at 37 John William Street, Huddersfield in 1882

" w a

WMJWINGW nim s saa

* nfil

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The Society's Office in Britannia Buildings at the corner of St Peter's Street and John William Street, Huddersfield in 1902

Page 53

PLATE 4

HEnrRyr Kay®

Page 54

Henry Kaye 1867-1912

PART II. 1883-1912

HE SOCIETY commenced its nineteenth year of operations with I assets of over £135,000, mortgage balances of over £128,000 A and a membership of 2,670. The annual receipts were now neatly £54,000. The Society was established in its new, excellent ground-floor office at 37 John William Street with agencies at Meltham and Shelley. Both the President and the Secretary enjoyed the advantage of many years of experience in our service. The Minutes of the Board Meetings of 5 January, 2 March and 30 March 1883, show us that the annual rental of our new office was £80 per annum and that we had spent £434.6.6d. in the necessary alterations and improvements. There is no doubt that a most careful watch was kept on our outgoings. We had an agency of the Scottish Provincial Assurance Co., who had been contributing £5 per annum towards our previous rent of £30 and it was decided that this must be increased, since the Society had 'removed to ground floor premises and spent a large amount in fitting up the same and at nearly three times the rent of their previous office'. The Assurance Co. agreed to raise their contribution to £15 per annum, thus reducing our net rental liability to £65 per annum. An offer by the landlord, however, to grant the Society a lease for fifteen years (in place of an annual tenancy) at a fixed rent of £90 per annum was declined by the Directors, who evidently had no misgivings about inflation in 1883. It is interesting to notice that faulty construction existed at this period and that the Society was not prepared to tolerate it. On 20 July 1883 it was resolved that 'in consequence of the bad quality of building and the "jerry" manner in which R. Stringer is erecting his property at Bramley that no advance be made thereon, and that the surveyor's charges be paid out of the {2.0.0d. he left with the Secretary and the balance, if any, be returned to Mr. Stringer'. At the nineteenth Annual General Meeting on 27 October 1883, Frederick Crosland reported that the assets had risen to over

39

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40 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

£141,000. All was well with the Society, except that more borrowers were required to absorb some of the surplus funds. The retiring Directors were all re-elected, and a high compliment was paid to Henry Kaye for his management of the Society's affairs. During the ensuing year the Directors were determined to achieve the incorporation of the Society under the provisions of the Building Societies Act, 1874, and at the same time to revise the Rules to enable the Board to reduce the existing lending rate of 5% in order to attract more borrowers. A Special Meeting of members was convened by a printed letter dated 17 January 1884, over the names of the President and Secretary, and this took place on 16 February at the Wellington Hall. This was the first of two Special Meetings arranged at this time and was devoted to obtaining the consent of the members to incorporation, and in this it was successful. The follow- ing resolution was carried unanimously:

That the Huddersfield Equitable Permanent Benefit Building Society carrying on business at Huddersfield in the county of York be forthwith incorporated under the Building Societies Act 1874 and that authority is hereby given to the President to make application accordingly to the Registrar for the time being of Friendly Societies in England for a Certi- ficate of Incorporation in accordance with the provisions of the Building Societies Acts and to do and perform all acts and things which shall be requisite or expedient for carrying this Resolution into effect.

One of the effects of incorporation was that the services of the two Trustees would be almost unnecessary in the future. Mortgages would be prepared in the name of the Society alone, and when the debt was paid off the release would require the corporate seal of the Society instead of the signatures of the Trustees. It is pleasant to record that after the resolution had been carried and an obviously sincere vote of thanks accorded to Wright Mellor and William Mallinson for their work as Trustees of the Society for neatly twenty years, these highly respected gentlemen were asked if they would allow their names to remain on both the Rules and the prospectus of the Society. On page 838 of our continuously paginated Minute Books, the following was recorded, under the heading 'Certificate of Incorporation':

The following is a copy of the certificate, and there is also impressed upon it the seal of the Royal Arms in which is included the words Registry of Friendly Societies. Central Office.

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The copy of the certificate in the Minute Book reads:

The Registrar of Building Societies in England hereby certifies that the Huddersfield Equitable Permanent Benefit Building Society established at Huddersfield in the County of York is incorporated under the Building Societies Act 1874. This third day of March, One Thousand Eight Hundred and Eighty Four. (Seal).

The second Special Meeting of members during these important early months of 1884 was held on 3 May, for the purpose of adopting the amended Rules. The proposed alterations had been prepared by the Society's solicitor, Jonas Craven, and a sub-committee of Directors, and had been approved by the Board. The appropriate procedures of circularizing all members and making the amended Rules available for inspection at the Society's office had been followed. The meeting was successful in its object, and the amended Rules were unanimously adopted. The President then observed that over a considerable period the Board of Directors had experienced great difficulty in finding sufficient borrowers, and that because of this the surplus funds now amounted to £15,000. Frederick Crosland said (very fairly, it may be thought) that under the amended Rules the Directors would have power to reduce the existing mortgage rate of 5%, and that it was their intention to lower it to 4%, provided that there was a favourable expression of opinion from the present Meeting on the matter. It was proposed by Mr Henry Holland, seconded by Mr Fred Pullan and carried unanimously 'that it be a recommendation from this Meeting of Members to the Directors to take into consideration the propriety or otherwise of reducing the present rate of Interest to Investing and Borrowing Members'. There was naturally a fair amount of work to be done as a result of the adoption of the amended Rules and of the incorporation of the Society under the Building Societies Act, 1874. At Board Meetings from May to October 1884, the necessary printing was put in hand, and the Society's seal was prepared and quite elaborate security arrangements for its use were authorized. The reduced interest rate required new tables, and these were prepared. The amended Rules required that the Society should have ten Directors, and Henry Holland was elected to the Under the Building Societies Act of 1874 five Arbitrators were required in case of dispute and five

* The only Henry Holland I can find in the directories of this period is described as a Foreman of Gledholt Bank, Huddersfield.

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names were chosen for submission to the next Annual General Meeting.) The Certificate of Registration of the amended Rules was sought and obtained from the Registrar of Building Societies. It is pleasant to record that during all this activity the Directors and Officers of the Society (still without the company of ladies) continued to enjoy the relaxation of their annual outings. So far as the Directors were concerned, these day excursions remained the sole reward for their services to the Society. In 1884, for example, Duncombe Park and Rievaulx Abbey were visited. This was, in fact, the last of these exclusively male outings. If we look forward a year to the Boafd Meeting of 22 May 1885, when a visit to Castle Howard was being arranged, we see that it was resolved 'that the Secretary and Mrs. Kaye along with the Solicitor and Surveyor be invited to join the Trustees and Directors and their wives on this occasion'. At the twentieth Annual General Meeting of the Society, held on 22 November 1884, the President observed that the assets had reached over £145,000, and the Society had now 2,800 open accounts. The reduction in the mortage interest rate had already resulted in a lowering in the level of our surplus funds by over £5,000. The five retiring Directors were re-elected and high compliments were paid to the President, the Board and the Secretary. In continuing to record the Society's ever-increasing advertising of its facilities, it is of additional interest to notice occasional references to costs. On 2 January 1885, it was resolved that the Society should advertise in every number of The Week/y News for the whole of the ensuing year, the notice to be in different wording in each insertion at a charge of 1s. 3d. per week. This was comple- mentary to the Society's weekly advertisement in The Huddersfield Examiner. On 22 May 1885, the resignation of Anthony Huddleston was accepted by his colleagues with regret. Mr Huddleston (who had also ceased to be a Town Councillor) had written to Henry Kaye to say that his increased business activities had made it difficult for him to _ attend to the work of the Society. On 9 October the Board suffered a further loss by the resignation of W. Roberts, because of ill-health and his consequent inability to attend the evening Board Meetings. It was decided to fill these two vacancies by extending invitations to

_ 1 The Society's Arbitrators (whose services were happily never required) are listed in Appendix VIII.

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Thomas K. Mellor (who was to be a future President of the and James Haigh* to become Directors. The twenty-first Annual General Meeting, held at the Assembly Rooms in Queen Street, on 21 November 1885, marked the attain- ment of the Society's majority, as Frederick Crosland observed in his Presidential address. It also marked the occasion of the total assets of the Society passing the level of £150,000. It was pointed out that the policy of reducing the borrowing rate had continued to prove to be effective, the surplus funds having been further reduced to less than £5,000. Messrs Crosland, Slater, and Holland were re-elected to the Board, and the appointments of Messrs Mellor and Haigh as Directors were made. A pleasant feature of the meeting was the attendance of the Mayor of Huddersfield, Alderman J. Varley. Both the Trustees wrote to the President to congratulate the Society on the completion of its twenty-first year of operations. Wright Mellor said that this was 'indeed an eloquent eulogium upon the solid judgment of those who laid the foundations of the Society, and upon the energy and skill of those who assisted in building the edifice'. He added:

No doubt in conducting the business of so important a concern as yours there will be sunshine and shade, good times and bad, but you have accumulated a large fund of experience, which will enable you to adapt your measures to these various circumstances.I hope, therefore, that as prosperity has smiled upon you to the attainment of your majority, it may still continue to shine in an equal or greater degree until your jubilee year.

It is noteworthy that Wright Mellor said that his relations with the official staff of the Society had always been of the most agreeable character. William Mallinson® said that the continued prosperity of the Society must be gratifying to all connected with such an 'admirably conducted institution, affording as it does a safe plan of Investment for the smaller class of investors, and also giving ready and cheap

1 Thomas K. Mellor was the Managing Director of T. K. Mellor and Co., Woollen Manufacturers, of Market Street, Huddersfield. * James Haigh was a Director of Thornton, Varley and Haigh, Cloth Finishers, of Globe Works, Colne Road, Huddersfield. 3 William Mallinson was the Managing Director of the firm of Woollen Merchants in St Peter's Street bearing his name, and was the Vice-President of Huddersfield College.

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facilities for those who wish to enter into larger operations in build- ing houses or business premises'. He added:

Our duties as Trustees are now only nominal, but I may say that at all times it has been a pleasure for us to be associated with the Board of Directors and Officers in this work, and I hope we may long still continue in a small way to render service to your excellent Society.

As an indication of the Society's confidence in its progress (and as confirmation that the Board continued closely to watch expenses) it is of interest to notice the decision taken at the Board Meeting on 31 December 1885. It was resolved that an order for the printing of 2,000 passbooks 'be given to Alfred Jubb, providing that he will agree to execute the work at the same price as that which was paid to him for the last lot of similar books'. Alfred Jubb & Son Ltd, as this old-established firm became, have continued to do printing work for the Society from those far-off years to the present time. There can be no doubt that Henry Kaye put in very long hours at the office in his work as Secretary of the Society. On the front page of the printed twenty-first Annual Report it was stated that the office was open to the public daily from 10 a.m. to 5 p.m., and on Mondays and Saturdays from 10 a.m. to 8 p.m. My old friend, Arthur Lodge, our highly regarded District Manager at Liverpool and Wallasey for many years before his retirement, was engaged as a junior clerk by Henry Kaye in 1911 and has told me that the Secretary was always in the office before 9 a.m. On my calculation it would seem that Henry Kaye worked at least a fifty-four hour week, leaving out of account his extraneous duties, even on the assumption that he left the office concurrently with its closure to the public at the end of the day, which seems improbable. In March 1886 the Society's first surveyor died. He was John Kirk, the senior partner of John Kirk & Sons, who had been appointed under the Rules in 1864. His son James had been preparing the - valuations for the Society for a number of years, but the Directors appreciated the work of their old servant and mourned his passing. It was agreed that the President should write to Mrs Kirk, which he did in the following terms:

I am instructed on behalf of the Directors of this Society to express their deep concern at the lamented decease of your respected husband, who has for so many years taken a personal interest in the welfare of the Society.

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They desire me to convey to you and the rest of his family their united sympathy in your sad bereavement and their respectful tribute to his memory.

As the twenty-second Annual General Meeting drew near, the Secretary was instructed to insert a notice of it in every local news- paper. In addition, James Kirk was invited to make a sketch of a 'model cottage' to be used at the head of a special notice and adver- _ tisement in The Daily Advertiser. The meeting, which was an impor- tant one as a progress report, was held in the Assembly Rooms on 20 November 1886. The President was able to record an unusually large rise in assets to over £160,000, and a further satisfactory reduction in the surplus funds to under £3,500. The mortgage balances were £156,000 with total arrears of under £300. The Society had now 3,148 open accounts, and had received £67,000 in investments during the year. The working expenses did not exceed 1% of the turnover. The retiring Directors were re-elected and the usual compliments and votes of thanks were carried with acclamation. At the Board Meeting on 20 May 1887, an important point of principle was established, in circumstances which may have been embarrassing to the Directors because of the Board's long personal relationship with Wright Mellor. Alderman Mellor, who had given his services to the Society as a Trustee without financial reward since its foundation, was Mayor of Huddersfield in this Royal Jubilee year. A letter had been received from him which tacitly assumed that the Society would subscribe to the Jubilee celebrations in Huddersfield, and invited the Board to say whether their donation should be applied to the Imperial Institute, the Huddersfield Infirmary, the Technical School or to 'local rejoicings'. The Minutes of the meeting recorded:

Resolved that in reply to the Mayor's circular, the Secretary write and state that the Directors most respectfully beg to decline to subscribe towards the celebrations of Her Majesty's Jubilee, as they consider that they have no power to apply the Society's funds toward any of the objects asked for in the annexed circular.

The decision was possibly a painful one in the circumstances, but there can be no doubt that the Board acted properly. We still apply the principle today in replying to approaches from charitable organizations.

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In August 1887, we lost by resignation the services of Wright Barden, who had been our Agent at Shelley for eleven years. Mr Barden was retiring on account of ill-health. The Directors were anxious to preserve the goodwill shown to the Society in Shelley, and called an evening meeting of our members in the Independent Schoolroom (from which our Agency was conducted) in that village. High compliments were paid to Mr Barden for his promotion of the Society's interests over many years, and the members were invited to suggest a successor. This ultimately resulted in the appointment of Mr George Cook as the new Agent at Shelley." In this connexion there is another fascinating sidelight on costs in the late nineteenth century recorded in the Minute Book at this time, reporting that the Trustees of the Independent School at Shelley had confirmed that the new Agent might continue to use the accommodation 'for the sum of 15s. od. per annum to include both fire and gas both inside and for the lamp outside the school'. A pleasant domestic note was evident in the Minutes of the Board Meeting of 9 September 1887. James Kirk, our surveyor, had married, and was evidently proud of both his bride and his house, Ing Lees at Marsden, and wanted the Directors to see both. He respectfully approached the President, inviting the Board to take tea with the newly-weds at Marsden on Saturday, 17 September, a suggestion that the Directors accepted with pleasure. The twenty-third Annual General Meeting was held on 12 November 1887, and like its immediate predecessor was another milestone in the Society's progress. The large annual increase in assets to give a total of £175,000 was a record, whilst the successful mortgage policy had reduced the cash surplus to £250. The profit for the year was £1,025.6.9d., and the President said that the Board were considering the forming of a reserve fund of £5,000 in future accounts. A member of the Society, Mr John Dawson," was critical of so large a sum as £5,000 being put to reserve, suggesting that something lower, coupled with the distribution of a larger bonus, would spread the fame of the Society 'throughout the length and breadth of Huddersfield'. Frederick Crosland, a firm and capable

* George Cook was our successful Agent in Shelley for 10 years. When he retired in September 1897 he was succeeded by Walter Emmott, who continued to conduct the Agency from the Independent School. * It will be recalled that it was Mr John Dawson who raised the question of a bonus at the ninth Annual General Meeting held on 31 October 1873.

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President, was not impressed by this suggestion, and the motion to set aside £5,000 as a reserve was carried. The President told the meeting that there were now 2,307 Building Societies in the country incorporated under the Act of 1874, and that 122 of these were in Yorkshire, of which our Society was the sixth in size. There were two larger Societies than ours in Bradford, two in Leeds and one in Halifax. At the Board Meeting on 30 December 1887, it was resolved that the Society's third Agency should be established at Slaithwaite, 'as the Directors considered it one of the most thriving villages in the locality of Huddersfield'. This decision was implemented by the holding of a public meeting in the Mechanics' Hall at Slaithwaite on Saturday evening, 4 February 1888. The President took the chair, supported by the Vice-President and seven Directors, the Surveyor, James S. Kirk, and Henry Kaye. Messrs Crosland, Vickerman, Stuttard, and Webb, spoke of the advantages of membership of the Society, and from the meeting Benjamin Grange and Thomas Cox proposed and seconded a motion that the Directors be requested to establish an Agency at Slaithwaite, which was carried unanimously. As a result, Mr Grange was appointed as the Society's Agent, and in September 1888 a room was taken for the monthly meetings at the premises of the Huddersfield Bank, Carr Lane, Slaithwaite, at an inclusive rental of 2s. 6d. per night for the monthly subscription meetings." 'A man, Sit, should keep his friendships in constant repair', said Dr Samuel Johnson in 1755.2 The Directors of the Society followed this admirable precept in regard to their existing Agencies, and a public meeting was arranged at Shelley on the evening of 28 February 1888, to hear a lecture by the Rev. Thomas Newton, the Vicar of Shepley, on 'Thrift', preceded by a short opening address by Frederick Crosland on the advantages of membership of the Society.

* I think that the statement in the printed twenty-fourth Annual Report that the Slaithwaite Agency was established in February 1888 was a mistake. In a letter to Henry Kaye as late as 7 June 1888, Mr Grange was still inclined to haggle over the offer of the Agency, on the grounds that his required investment of £100 with the Society as security would only carry 4% interest instead of the 5% he was receiving for it elsewhere, and that 'at 4% for commission I should scarcely make my own out of it at the end of the year'. The matter was evidently amicably settled, for on the front page of the twenty- fourth Annual Report, Benjamin Grange was shown as the Slaithwaite Agent. * James Boswell's Life of Samuel Johnson (L. F. Powell's revision of J. B. Hill's edition),

I, p. 300.

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The President was supported by six Directors, together with the Secretary, the Surveyor, and the Shelley Agent. A similar meeting to promote the interests of the agency was held at Meltham on 24 March, when a not dissimilar lecture was delivered by the Rev. B. J. Holmes, the Vicar of New Mill. Frederick Crosland was unable to attend the meeting and the chair was taken by the Vice-President, Charles Vickerman, supported by four Directors, the Secretary, the Surveyor, the Solicitor and the Meltham Agent, Mr T. H. Lawford. Mr Lawford gave a brief account of the progress of the Agency, which had started in 1865 with 22 members. He said that there were now 230 members of the Society in the village, and since the establishment of the Agency no less than £39,707 had been invested in the Society by the working men and women of Meltham. Henty Kaye closed the meeting with a short address on the objects of the Society, remarking that the need was still for more applications for mortgages. On 19 February 1888, George Slater died. He had been a Director since 1876, and a faithful attender at the Board Meetings. The vacancy was filled by the election of John Greenwood, a 'Paper Hanging Merchant' of High Street, Huddersfield, on 15 June 1888. An interesting point of policy arose at the Board Meeting on 23 March 1888, which demonstrated that 86 years ago the Directors still regarded the Society as essentially local in its operations, in contrast with our ever-increasing nationwide presence today of 39 fully- manned branches and over 360 agencies. An application for a loan of £450 on a "villa residence' at Llandudno, introduced by Mr W. H. Woodcock, a former Director of the Society and the brother of the applicant, was considered by the Board. It was decided that problems might arise over surveyors' and solicitors' charges on an advance so far away from Huddersfield, 'and that Llandudno was altogether outside the scope of the Society's operations'. The application was declined. If the reader of this account of the early years of the Huddersfield. Building Society considers that my interest in costs in the latter half of the nineteenth century is obsessive, I tender my apologies. I confess that the subject fascinates me. When I read, therefore, that on ; October 1888 it was solemnly resolved by the Board that George Cook, our Shelley agent, should be allowed 1s. 2d. per month for railway fares (presumably for journeys between Shelley and Hudders- field) I cannot resist the temptation to record it.

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Our twenty-fourth Annual General Meeting was held on 10 November 1888. Frederick Crosland was able to report a rise in assets to over £189,000 and a total of 3,561 open accounts. The receipts of over £83,000 and the mortgage advances of over £42,000 in the year were both records in our history. For the first time a reserve fund of £5,000 was shown in the accounts. The President reported that £6,756.8.od. had already been distributed as bonus, and that for the fourteenth year in succession the Directors were declaring a bonus of 10%. The customary agreeable compliments were paid to the Board and to the Secretary, and the five retiring Directors were all re-elected. The progress of the three Agencies was reflected in the following figures of receipts for the year:

Meltham. £2,816 from 233 members. Shelley. £782 from 55 members. Slaithwaite. - £131 from 26 members.

A Mr Moore suggested from the Meeting that the Society should establish an agency in Holmfirth. The tenure of office of Benjamin Grange as our Agent at Slaith- waite was short-lived, for his death was reported at the Board Meeting of 22 March 1889. It was resolved that a letter of condolence be sent to his widow and that until another agent could be appointed the Secretary and the clerks should manage our affairs in Slaith- waite." At the Board Meeting of 9 August 1889 it was resolved that C. Lewis Berry be appointed as the Society's agent at Slaithwaite in place of the late Benjamin Grange, subject to his depositing £100 with the Society as security for the proper and faithful discharge of his duties. That this was done was demonstrated by the next printed Annual Report, which showed Mr Berry iz si¢z at Slaithwaite.® At the same Meeting a loss of another valued servant of the Society was recorded with sorrow. It will be recalled that in 1872 the Society's solicitor, Jonas Craven, had taken a young solicitor into

* As the appointment of junior staff was not recorded in the Minutes of the Board Meetings, the use of the plural 'clerks' in this Resolution was informative, indicating that by 1889 Henry Kaye had more than one assistant. A Minute two years later, as will be seen, demonstrated that by then the Secretary was assisted in his duties by a senior clerk and two junior clerks. One of the latter was William Henry Kaye, the Secretary's son, who had entered the service of the Society on leaving King James's Grammar School, Almondbury in 1887. The assertion that W. H. Kaye joined the staff as a junior clerk in 1890, contained in his obituary in The Huddersfie/!d Examiner of 1 November 1928, was erroneous. * Mr Berry was our Slaithwaite Agent until 1898, when he retired and was replaced by Mr C. W. Sykes.

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partnership and the firm had become Craven & Sunderland. Mr C. S. Sunderland had died suddenly and prematurely 'in the prime of his manhood' to the distress of both his partner and the Board, who regarded him as 'an able adviser and most sincerely devoted to the interests of the Society'. It was resolved that a deputation should attend the funeral, and that letters of condolence should be sent to Mr Sunderland's father and Mr Craven. The twenty-fifth Annual General Meeting of the Society was held on 16 November 1889. Mr Crosland was able to report the passing of yet another milestone, in that the assets of the Society were now over £204,000, with 3,879 open accounts. The receipts during the year of over £90,000 were a new record. The President said that the Society was in as sound and healthy condition as it could possibly be. All the retiring Directors were re-elected. On 29 Novenber 1889 it was decided that the President, the Vice- President and T. K. Mellor should meet Mr Benjamin Allen, the Manager of the Huddersfield Banking Company, to negotiate if possible more advantageous terms for the Society's account. This deputation reported to the Board on 13 December that the Bank had agreed to allow 34% on credit balances of £3,000 and more, and 24%, when the balance was below £3,000. The Bank was to be allowed a commission of 2s. per £100 on the turnover. These were regarded as excellent arrangements, and the three gentlemen respons- ible for their negotiation were congratulated on the success of their mission. At the same Board Meeting of 13 December 1889, it was reported that the President had received a letter from a member of the Society, Mr John Whiteley, suggesting that in order to attract borrowers the Society might pay the costs of preparing mortgages. In retrospect this turned out to be a significant event, but naturally the Directors were not prepared to take a decision without advice and further information. At a meeting on 27 December the Secretary reported that he had learned that one Yorkshire building society prepared its mortgage deeds in such a form as to allow borrowers to obtain further advances without incurring legal charges. It was resolved that the Society's solicitor be instructed to look into the whole matter, as the Directors were anxious to offer every possible facility to borrowing members. It is of interest to record that at the Board Meeting on 24 January 1890 it was resolved that the Secretary should order for the use of the

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Directors The Building Societies Gazette, a magazine devoted to the principles of thrift and home-ownership, which Messrs Franey & Co. had been publishing in London since 1869. The supplying of this valuable journal to the members of the Board each month has continued to the present day. The beginning of a historical change in the auditing and prepara- tion of the Society's accounts occurred on 21 February 1890, when the question of employing professional accountants was discussed for the first time, on this occasion in a special context. The minutes of the Board Meeting recorded the following:

Special Audit in addition to usual Audit

In consequence of the serious frauds which have recently been dis- covered in connection with several Building Societies throughout the country, the Directors of this Society have resolved that at the next balancing of the books (Sept. 1890) a Special Audit be made by an expert in Building Societies accounts in order that the members may have an additional proof that this Society is quite safe, of which fact neither the Directors or the Members have ever had the slightest reason to doubt.

On 18 April, the President and Vice-President were asked to discuss the matter with Armitage and Norton, chartered accountants, of 234 John William Street, Huddersfield, and to report back to the Board at its next meeting on 16 May. The Directors were told that Armitage and Norton would charge between £30 and £50 for the Special Audit, and it was resolved that they be instructed to proceed. On 31 October 1890, a fortnight before the twenty-sixth Annual General Meeting, the Report of the Special Audit (which was entirely satisfactory, as will be seen) was available to the Direc- tors, and a sub-committee consisting of F. Crosland, C. Vickerman, J. E. Webb, and T. K. Mellor, was appointed to examine the Report on behalf of the Board. In the Minute Book is a letter from Armitage and Norton dated 13 November 1890, addressed to the President and Directors of the Huddersfield Equitable Permanent Benefit Building Society. It is a historic document, being the first professional pronouncement of its kind upon the Society's accounting methods, its financial position and the diligence and skill exercised by the Directors and the

* The partners were William Henry Armitage and George Pepler Norton, the latter being the grandfather of the present senior partner, George Pepler Norton, M.A.,

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Secretary in their management of the Society's affairs, and is therefore worth reproducing:

Dear Sirs,

In accordance with your instructions we have made a thorough investi- gation into the books of the Society, upon which we have reported to you in detail. We have much pleasure in stating that we are fully satisfied with the methods adopted in conducting the Society's affairs and we believe that its financial position would compare favourably with any similar institution in the country. It is remarkably free from the most frequent sources of weakness in Building Societies, and the accounts show that the greatest care must have been exercised by the Directors in selecting borrowers. The mortgage deeds held as security for monies advanced to borrowers have been exhibited to us in the presence of the Society's solicitor and found to be in order. We think it right to say that the duties of the Secretary, upon whose diligence the success of the Society so largely depends, appear to have been fulfilled by Mr. Kaye in the most careful

and energetic manner. Yours faithfully,

Armitage and Norton.

Turning back to matters of less magnitude decided in 1890, the Society continued to increase its publicity during the year, and on 21 March, it was resolved additionally to advertise our facilities for one year in The County Advertiser. Another important move forward was taken on 18 April, when the Board resolved that the Society should join the Building Societies' Association and that the annual subscription of two guineas should out of the contingency fund. A Special Board Meeting was held on 14 October 1890 to examine the possibility, which we recall had already been the subject of some preliminary discussion, that the Society should have the right to pay the legal and valuation costs of mortgages, in order to increase the number of borrowing members. The Directors unanimously favoured the proposal, which it was hoped would help to reduce. the surplus fund of £10,000 in the Huddersfield Bank, and the Society's solicitor was made aware of this decision. On 18 October Jonas Craven recommended that an added Rule (No. 221) should be made, which would read:

The Directors shall in their discretion have power to pay the whole or any part of the fixed charges of the solicitor and surveyor out of the contingency fund of the Society.

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It was decided, on the advice of Mr Craven, to call a Special Meeting of members at the close of the next Annual General Meeting to consider and (if agreed) to adopt the proposed new Rule 224. In the early years two non-professional auditors, one of whom was a schoolmaster, had been appointed to act for the shareholders, an arrangement that had been entirely satisfactory when the Society's operations were limited. It had now become obvious, however, that in the face of the Society's expansion, John W. Sykes and Joseph Bate, the present auditors, could not be expected to carry such an increasing responsibility. It seems probable that an ingredient in this decision was the calibre of the Special Audit prepared by Armitage and Norton. Be that as it may, although the Society's Accounts from 2 September 1889 to 1 September 1890 were signed by John _ W. Sykes and Joseph Bate on 15s October 1890, the Notice dated 21 October 1890 of the twenty-sixth Annual General Meeting to be held on 1s November 1890 included in the business an item covering the election of W. H. Armitage and G. P. Norton, who had been nominated as the Society's Auditors. The twenty-sixth Annual General Meeting was held on 15 Novem- ber 1890. Frederick Crosland reported that the assets had risen to nearly £217,000. The President was frank to say that the Board was anxious to see the cash surplus of £10,000 taken up by new borrowers, and that further steps were being taken to stimulate the flow of new mortgages. He reported on the special Audit prepared by Armitage and Norton, and read the report of that firm to the meeting. Mr Crosland spoke warmly of the able and faithful manner in which Henry Kaye had performed his duties as Secretary during the last 23 years, a compliment that was greeted with applause. J. W. Sykes, one of the two retiring Auditors, complimented the Society upon the neat and admirable manner in which the Accounts were kept. He further observed that both he and Mr Bate were of the opinion that the Society had now become so large and important that the auditing should be in the hands of professional accountants, and therefore had great pleasure in moving that W. H. Armitage and G. P. Norton be appointed Auditors, which was seconded by Mr W. Bower and carried unanimously. Mr George P. Norton acknowledged the appointment of his firm, and reiterated his praise of the manner in which the Society was managed. J. H. Stuttard moved that the best thanks of the meeting be given to the retiring Auditors for the great care they had exercised in the discharge of

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their duties over a period of many years, and that the meeting desired to place on record its deep sense of the valuable services rendered to the Society by these gentlemen. J. E. Webb seconded the motion which was carried with applause. The Special Meeting followed and after a short discussion the new Rule 22A was un- animously adopted. The other retiring Auditor, Joseph Bate, was unable to attend the Annual General Meeting due to indisposition, but I think that his letter to the Secretary, written on the same evening, should be recorded:

Dear Mr. Kaye, 1;th November, 1890

I very much regret that I cannot attend your Meeting tonight, I have had a sore throat the last three days and it would be unwise for me to venture out tonight. Had I been able to be with you I should have been pleased to have proposed that Messrs. Armitage and Norton be appointed the Auditors to the Society. The fact is the Society has become so large and important and its transactions so numerous that I deem it most desirable that the Accounts should be audited by professional accountants. The very careful, neat and accurate manner in which all the books and deeds have been kept, and the strict economy and great efficiency displayed in the management of the Society reflect the highest credit on yourself, your assistants and on the Board of Directors. To me, and I may venture to say to my colleague, Mr. Sykes, also, it has been a real pleasure to audit the accounts for so many years and I sincerely thank the Members of the Society for the confidence they have so long reposed and I believe, continue to repose in us. The work of auditing and the responsibility connected therewith have so much increased that I could not possibly spare the time necessary to discharge the duties any longer. The well-known reputation of the firm of Armitage and Norton will, I am sure, commend them to every Member of the Society, and I have no doubt their appointment will be unanimous and hearty. With kind regards and earnestly hoping that the Society will not only continue to hold its high position but become increasingly useful and successful.

I am, yours truly, JosEpn Bate.

An interesting reflection of the Directors' devotion to duty was contained in a Resolution at the Board Meeting of 28 November 1890, when the next meeting was fixed for 7 p.m. on Christmas Eve, 24 December. The Minutes of the latter show that it was by no means a short meeting, and that among other matters, it was decided that the Society should advertise the advantages to prospective borrowers

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of the new Rule 221. At the Board Meeting of 20 March 1891, it was resolved that some minor alterations to the Society's book- keeping system, recommended by Armitage and Norton, should be adopted, and that a clerk from that firm should be temporarily em- ployed by the Society to prepare indexes for the investors' and borrowers' ledgers. The Directors' excursions continued to be a regular event, and in June 1891, a visit was made to Newstead Abbey. At the Board Meeting of 15 May, however, it was resolved that out of the amount voted to the Directors for the outing at the Annual Meeting, 20s. should be paid to the office staff, being 10s. to the senior clerk and 5s. to the two junior clerks. One of the latter, as I have mentioned eatrlierinanother context, was the Secretary's son, William Henry Kaye. At a Special Board Meeting on 9 October 1891, it was resolved that the method used since 1875 of paying a bonus of 10%, on annual interest should be amended to an allowance of 2s. 1d. per borrowing or investing share. It was also resolved that no bonus would be paid to any member who had not been a shareholder for a full financial year. This arrangement was to continue until 1907 inclusive. The twenty-seventh Annual General Meeting was held on 14 November 1891. The President reported an increase in assets to over £233,000 and explained the new and more convenient basis on which bonus was to be paid. Mr Crosland was able to report that receipts were up and withdrawals down. In the printed Report it was noteworthy that Armitage & Norton were shown as the Society's Auditors, and that the certificate of the examination of the mortgage securities was signed by them. The last Board Meeting in 1891, like that of 1890, was held at 7 p.m. on Christmas Eve. J. H. Stuttard gave notice that at the next Board Meeting on 22 January 1892, he would propose that £5 be donated to Huddersfield Infirmary out of the honorarium voted to the Directors for their annual excursion. 'This Resolution was carried. I do not think that this decision was necessarily at variance with the Board's earlier refusal to make any contribution from the Society's funds to the Royal Jubilee, since the money spontaneously voted to the Directors each year was expressly for their private use. On the other hand, the Board Meeting of 22 January was marked by a definite change of policy in regard to operations distant from Huddersfield, for it will be recalled that in 1888 an application for a mortgage in Llandudno had been turned down out of hand. George

5

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P. Norton, one of the partners of Armitage & Norton, sought an advance for himself on a house in Bournemouth. It was resolved that subject to Mr Norton paying a fee to Mr J. S. Kirk to overlook the matter, together with a fee to a surveyor in Bournemouth to be chosen by Mr Kirk, the Board would give the application favourable consideration. The formal offer of the advance was made in February 1892. The Annual General Meeting of the Building Societies' Associa- tion was held at the Westminster Palace Hotel in London on 3 February 1892. J. E. Webb, a Director of the Society, who was in London on business at the time, attended as the Society's representa- tive. He reported to the Board that he had been impressed by the care with which the Association was watching any legislative measure affecting building societies that might be placed before Parliament. This reassurance was opportune, in view of the ominous events in the immediate future that were to lead directly to the Building Societies Act, 1894. On 22 March 1892, Jonas Craven died. Mr Craven had been the Society's Solicitor since its establishment in 1864. At the Board Meeting on 23 March high tribute was paid to Jonas Craven's work for the Society over nearly thirty years. It was resolved that as many Directors as possible would attend the funeral, and that the President would write to Mrs Craven. Thirteen Huddersfield solicitors applied to succeed Mr Craven, and on 13 April it was decided to appoint Mr Joseph Bottomley of 52 New Street, Huddersfield. A condition imposed by the Board, which Mr Bottomley accepted, reflected the Directors' concern for the widow of a man who had served the Society for more than a quarter of a century. We may presume that Jonas Craven's death, following so closely on that of his younger partner, caused the extinguishment of the firm of Craven and Sunderland. Be that as it may, Mr Bottomley agreed to allow Mrs Craven £100 per annum for five years from the fees he received from | the Building Society. Inevitably the appointment of a new solicitor brought new ideas, and on 5 August 1892, it was resolved that Joseph Bottomley be allowed to have the Society's mortgage deeds printed rather than written out individually as Jonas Craven had done. It was, however, decided that tradition should be followed to the extent that the printed deeds would still be on parchment. The twenty-eighth Annual General Meeting was held on 5 November 1892. The President reported that the assets had risen to

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neatly £247,000. The receipts for the year had been over £99,000, which was a record in the history of the Society, and 594 new members had been enrolled. The mortgage balances had risen to _- over £237,000. The five retiring Directors were re-elected after a ballot with acclamation, despite an unsuccessful additional nomina- tion of a Mr D. D. Shirtclifie. It was noteworthy that the following announcement appeared in large print on the last page of the report:

IMPORTANT TO BORROWERS. NEW AND SPECIAL FEATURE AND ONE PECULIAR TO THIS SOCIETY. ADVANCES MADE FREE OF SOLICITORS' CHARGES, AS THE SOCIETY NOW PAYS THE COST OF THE MORTGAGE DEED.

In the early months of 1893 the Society lost the services of two more of its oldest servants. Wright Mellor and William Mallinson, who had been the Trustees of the Society since its establishment in 1864, both expressed a wish to resign on account of advanced age and impaired health." T. Walker Brooke, Esq., j.p.2 and J. E. Willans, Esq., j.p.3 were appointed in their stead at the Board Meeting of 17 March 1893, when it was agreed that a copy of the following Resolution, signed by the President, should be sent to the two retiring Trustees:

The Directors learn with deep regret that Messrs. Wright Mellor and William Mallinson, owing to failing health and advancing years, are no longer able to continue to act as Trustees to this Society, both gentlemen having cheerfully acted as Trustees to the Society since its commencement in 1864. The Directors desire to place on record their high appreciation of the valuable services rendered by them and to convey to them their best and warmest thanks for their wise counsel and help for so long a period.

At the Board Meeting of 7 July 1893, it was resolved that the Secretary ascertain the cost of fitting up the offices with 'the Electric Light' (as it appeared in the Minutes). The ultimate estimate, to include the outside lamp in John William Street, was and this was accepted in September and the work put in hand. The Building Societies Association meeting in London on 13 July was attended by 160 delegates including Frederick Crosland,

* Wright Mellor died on 17 May 1893. * T. Walker Brooke of Fieldhead, Mirfield, was a distinguished County Magistrate. } James E. Willans was the Chairman of William Willans Ltd, Wool Merchants and Importers of 32 Market Street, Huddersfield. He was a Borough Magistrate.

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Charles Vickerman and John E. Webb from our Society." The gathering was an important one, to consider the amendments to the Bill which was to become the Building Societies Act, 1894, especially the clauses relating to the publication of advances over £5,000, borrowers in arrear and properties in possession. At the Board Meeting on 1 September the following was unanimously resolved:

This Society is averse to the publication of the full particulars and details of individual properties in possession, as such publication would have disastrous effects. It would, however, have no objection but would ap- prove of the publication of the aggregate amount of properties in posses- sion, believing that the publication of the aggregate amount would be sufficient for all practical purposes. Resolved that a copy of the above Resolution be forwarded to Mr. Binyon," Chairman of the Building Societies' Association and to the Editor of the Building Societies Gazette.

Before I give an account of the Annual General Meeting of the Society in November 1893, it is appropriate for me to refer briefly to the momentous events that had caused such damage to the building society movement at this time and had led directly to the Act of 1894. Unlike some others less fortunate, our Society weathered the storm, as will be seen, due to the essential soundness of its finances, its high reputation and (I am convinced) to the courage and frankness of Frederick Crosland's speech to the shareholders at the Annual General Meeting. The collapse of the Liberator Permanent Benefit Building Society in 1892 was the largest catastrophe in building society history. It is true to say that in its later years it was only minimally involved in genuine building society operations, its 200 or so borrowing members accounting for less than £65,000 (representing less than 2%,) of its 'mortgage assets' of £3,432,000 shown in the last pub- lished balance sheet. The rest had gone in wildly speculative ven- tures by such companies as the Lands Allotment Co., the House and Land Investment Trust, the Building Securities Co. Ltd, J. W. Hobbs & Co. Ltd, and the Real Estates Co. Ltd, in all of which the - dominant and controlling figure was Jabez Spencer Balfour, the founder and managing director of the Liberator Permanent Benefit Building Society.

* The three delegates' expenses totalled £4.9.6d. * Charles Binyon (1825-1906) was the second Chairman of the Building Societies' Association from 1883 to 1903.

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Balfour was convicted and given two consecutive sentences of seven years' penal servitude for making secret profits by fraud, and issuing false accounts and balance sheets. Although it was recognized that the Liberator disaster was not the collapse of a true building society but of a company engaged in highly speculative ventures, it was natural that dismay and consternation was caused throughout the building society movement. Within a year the membership of incorporated building societies decreased by over 50,000 (8%), whilst the total assets of £51,000,000 decreased by over £8,000,000 ~(16%). According to one authority, 'it was not until two or three decades had passed that it could be said with assurance that the movement had fully recovered, and surpassed, its 1891 position'." The twenty-ninth Annual General Meeting was held on 11 November 1893. The President was able to report a very modest rise in assets to over £251,000, despite the fact that there was a decrease in receipts and an increase in withdrawals. Against the background of the situation of the movement as a whole, however, the Society's performance in a difficult year was very satisfactory. The total membership of the Society now stood at 4,442 open accounts. Mr Crosland said that the Board had decided to increase the reserve fund to £7,000. He reported the representation of the Society at the meeting of the Building Societies' Association, and referred to the proposed legislation which would amend the Building Societies Act, 1874, and give increased protection to members. He was frank to tell the meeting of the attitude taken by the Board in regard to the Government's proposals that details of possession cases and other matters of obvious delicacy should be published. Mr Crosland said that in any event at the end of the Financial Year the Society had only three properties in possession with an estimated debt of £2,150, covered by securities valued conservatively at £3,150. One of these properties had since been satisfactorily sold. These observations by the President were received with applause. Mr Crosland said that our Society was one of the soundest in the kingdom, and that the Board was determined to maintain that position. He spoke in the highest terms of his colleagues on the Board, who were all men of wide experience, and of the Society's excellent staff, led by Mr Henty Kaye. The President said that

1 S, J. Price, op. cit., p. 306.

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although times were difficult nationally, and trade was depressed in the Huddersfield area, he had no fear for the future of the Society. He added that if the published accounts of the Liberator Society had presented the same scrupulous adequacy of information in regard to its affairs as we did, that ill-fated organization would have collapsed a dozen years ago. Mr Crosland successfully moved the adoption of the Report amid applause, seconded by Mr Vickerman. In replying to a vote of thanks to him, the President revealed a fact of historic interest. After referring to himself as the only Director left of the original Board, he said that he was also the only survivor of the three gentlemen'* who early in 1864 had met morning after morning from 5 a.m. to 8 a.m. to draw up the original Rules of the Society and make all the other necessary arrangements for its establishment. The Board's confidence that all was well with the Society was exemplified by a Resolution at the Board Meeting of 21 December 1893, when the printing of 10,000 new prospectuses of the Society was approved. The printers, Alfred Jubb & Son, had quoted a price of £7, which was accepted. 1894 was a year of comparative quiet in the Society's affairs. On 10 May the President, already in London on business, prolonged his stay to attend the Annual Conference (as it was now called) of the Building Societies' Association. The Association was giving its final consideration to the Bills now before the House of Commons in connexion with building societies. At the next Board Meeting Mr Crosland was thanked for his trouble in attending the Conference, and the Directors invited him to accept £1 as a contribution towards his expenses. The thirtieth Annual General Meeting was held on 10 November 1894. Frederick Crosland observed that against a background of depression of trade in the district a diminution in receipts of £6,000, such as the Society had experienced during the year, was not un- expected. Equally, the fact that there were about 2,000 empty properties in the Borough and that the building trade was virtually at a standstill, accounted for a drop in mortgage lending of £10,000. The assets, however, had been maintained at rather over £252,000 and the profit allowed the Directors once more to declare a bonus of 2s. 1d. per share.

1 One of whom was presumably the late Joseph Hirst.

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The President read to the Meeting a letter from Mr G. P. Norton of Messrs Armitage and Norton, which contained the following paragraph: The Society's books have been exceedingly well kept this year, and the condition of the Society's investments is very satisfactory. I think that when the new forms of accounts are settled (that is, in accordance with the new Act of Parliament) there will be few Building Societies who will show up so well as the Huddersfield Equitable Permanent Benefit Building Society. Mr Crosland observed that the Annual Report before the Meeting was the thirtieth, and that he considered that thirty years of steady progress showed that the Society had a sound constitution. His own personal investment in the Society had never been higher than at present, and he was very satisfied that this should be so. Looking back over the life of the Society, he had found that it had been the medium in helping Huddersfield people to save £1,500,000 in the last thirty years, which divided by a population of 100,000 amounted to £15 per man, woman and child. The President concluded by referring to the Building Societies Act, 1894, which was now on the Statute Book and which offered sound protection of the interests of shareholders. Mr Herbert Sykes of Messrs Armitage and Norton said that the new Act would cause little alteration in the Society's accounting system, since the existing procedure embodied most of the legal requirements. Mr J. E. Willans, J.p., one of the Society's Trustees, remarked that the new Act was nothing less than a considerable compliment to the Huddersfield Society, incorporating as it did so many of our Rules. Joseph Bottomley, the Society's Solicitor, said that if the members took the trouble to go through the 1894 Act and compare it with our Rules and the Annual Reports that had been presented to them over the years, they would find that what Mr Sykes and Mr Willans had said was no empty boast. All three gentle- men bore testimony to the deep debt of gratitude the Society owed to Frederick Crosland for his devoted work during 13 years as President. In his reply, Mr Crosland said that he was proud to understand that the drafting of the 1894 Act had been largely based on the Rules and methods of the Halifax, Leeds Permanent and Huddersfield Societies. The year 1895 started sadly for the Society. At a Special Board Meeting on 9 January it was moved that the Board was distressed to

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record the deaths of two Directors since the Board Meeting of 21 December. Henry Holland, who had joined the Board on 18 July 1884, died on 26 December 1894. John Greenwood, who died on ; January 1895, had been a Director since 15 June 1888. The Board felt that they had lost the services of two valued friends of great experience who had been devoted to the welfare of the Society. The President undertook to write to Mrs Holland and Mrs Greenwood. The third blow fell when Charles Vickerman, the Vice-President of the Society (who had been president at the Special Meeting on 9 January) died suddenly on 26 January. At a Board Meeting on 15; February it was moved that a copy of the following Resolution be sent by the President to Mrs Vickerman:

The Directors earnestly desire to express their heartfelt sorrow at the loss of one who had been to them for more than 28 years a highly valued and much esteemed friend. Mr. Vickerman, who died on 26 January 1895, was appointed a Director of this Society on 15 June 1866, and Vice- President on 27 May 1881. The Directors feel that they cannot pay too high a compliment to the memory of one who was ever by their side, and whose wise counsel and sound judgment has been of so much value to the Society, aiding it in its earlier struggles and guiding it to its present success. The Directors also gratefully acknowledge his uniform courtesy and kindness, and desire to tender to his widow and family their deep sympathy with them in their sad bereavement.

At the same meeting John H. Stuttard was appointed Vice-President, and it was resolved that Messrs Richard Riley, Richard S. Dyson, and Alfred Jubb be appointed Directors to fill the three vacancies caused by the deaths of Charles Vickerman, Henry Holland, and John Greenwood." As I have had occasion to remark, the Minutes of the Board Meetings in the early years were not informative about the staff, and I have not been able to discover any earlier reference to the name of the chief clerk until 5 July 1895, when his departure from the Society after 14 years service was recorded:

The Secretary reported that his head clerk, Thomas Leigh, who had been in his service over fourteen years and served him most faithfully, had

1 Charles Vickerman died at the age of 73 of 'Natural causes. Probably heart disease', according to the Coroner's Inquest held on 29 January 1895. * Richard Riley was a Director of J. A. Riley Ltd, Boiler Makers, Manchester Road, Huddersfield, and Alfred Jubb has already been mentioned as the Society's printer. Richard S. Dyson was the founder of R. S. Dyson & Sons, Ltd, Provision Merchants, New Street, Huddersfield.

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received a better appointment in the Bradford Bank with effect from 1o June 1895. Mr. Kaye also stated that he had promoted his son William Henry Kaye to be head clerk, he having been in the office next to Mr. T. Leigh for eight years, and so fill up the vacancy thus caused with a junior clerk.

This Minute shows that William Henry Kaye entered the Society's service in 1887, the year in which he left King James's Grammar School, Almondbury* at the age of 16, and not 1890, as was stated in his obituary in The Huddersfield Examiner on 1 November 1928, headed 'Thirty-Eight Years with Huddersfield Building Society'. William Henry Kaye's period of service was 41 years. At the Board Meeting at 2 August 1895 an application for an advance in London was declined. It did not seem that this decision was necessarily taken because of the London location per se, since the security was not a very desirable one. It was described as a ware- house in Bermondsey, held on a ground lease which had only 65 years to run and was subject to a ground rent of £150 per annum. A Special Board Meeting was called by the President on 8 August 1895 to consider a demand for income tax made on the Society for the first time in its history. The amount involved was £33.6.8d., being at the rate of 8d. in the pound on an assessment of £1,000. This is not the place to record the complicated story of the early years of Building Society taxation, which is readily available in the literature of the movement as a whole." Suffice it to say that Mr

* This information was kindly supplied from the school register by the present Headmaster, Mr D. A. Bush, B.A. Our third Secretary, 'the son of Henry Kaye, of Croft House, Almondbury', entered the school in September 1881 and left in the summer of 1887. * See, for example, S. J. Price, op. cit., pp. 483-506. An early document in favour of the movement was a letter from Somerset House of 11 July 1866 in regard to the Sunder- land Working Men's Benefit Building Society in which it was conceded 'that a Building Society worked in the ordinary course . . . has no annual profits chargeable under the Act, and has consequently no power to deduct duty in respect of interest on sums advanced to it'. This preliminary unequivocal statement that Building Societies were not liable to taxation or required to deduct income tax from interest paid to members gave much satisfaction to the movement, although the rate of tax in 1866 was only 4d. in the £. It was unfortunately not the end of the matter, however, for the success of individual Societies and the growth of the movement continued to attract the attention of the Inland Revenue during the next three decades, and matters became exceedingly com- plicated as income tax demands on certain Societies continued to be made by individual Surveyors of Taxes, and fiercely contested. A reasonable compromise was worked out in 1894 (which was known as the ©1895 scheme' because it became operative in that year) after long discussions between representatives of the Building Society movement and the Inland Revenue. It was withdrawn as such in 1932, but its basic principles have continued. Our Society was more fortunate than some others, in that we received no unwelcome attention from the Inland Revenue until the ©1895 scheme' became operative.

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Crosland reported that he had already consulted the Secretary of the Halifax Building Society, to find that no decision had been taken in regard to a similar demand. The Leeds Permanent Building Society, for its part, was threatening ultimately to resist a demand for tax by taking the matter to the House of Lords if necessary. In August Mr Crosland headed a deputation to interview the Sur- veyor of Taxes, who explained the negotiated alternative taxation requirements available to societies under the '1895; scheme', but enquiry showed that none of the larger Yorkshire societies had yet been persuaded to accept either. One imagines that the Surveyors of Taxes must have regarded these West Riding building society men as intransigent persons with whom to deal. The building society leaders, on the other hand, argued that profit was not their primary aim, and that few Directors in the movement received any financial reward for their services. The protracted difficulty experienced at this time by our Society in obtaining sufficient borrowers to absorb the large flow of invest- ments had resulted in the accumulation of surplus funds of over £30,000, which had produced an attendant problem of its own. On 2 September 1895, the Manager of the Huddersfield Bank gave notice to Henty Kaye that he had no alternative but to reduce the interest on the Society's credit balance over £3,000 from 3%$% to 3%. In the face of these circumstances, a Special Board Meeting was called on 31 October 1895, so that careful but urgent consideration could be given to the matter of interest rates. It was decided that in view of the continued cheap rate of money and the large surplus lying idle at the Bank at a reduced rate of interest, the depositors' rate should be reduced to 2$%,, and both the investors' and borrowers' rate to 3$%,. The local press reports on this decision were favourable. The Huddersfield Examiner applauded the reduction in the mortgage rate as realistic in the prevailing circumstances, and remarked of the investing rate that it still compared very favourably with that of other institutions when the factors of the 'unimpeachable security of the Society and the regular distribution of bonus were properly taken into account. The thirty-first Annual General Meeting of the Society was held on 9 November 1895. The President was able to report a substantial rise in assets to nearly £270,000, and an increase in receipts of nearly £6,000 to over £90,000. Withdrawals were reduced by over £12,000 compared with the previous year. The Society had 4,467 open

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accounts. Mr Crosland was frank to say that the Board was still concerned over the large surplus funds, but that it was hoped that the reduction in interest rates combined with recommendations from existing members to prospective borrowers would remedy the situation. The President referred to the imposition of income tax upon building societies, including their own. He said that after constant | correspondence and several interviews with the Surveyor of Taxes, the Directors believed that they had come to an arrangement that would be satisfactory to the members, having done their best under the present regulations. The agreement they had made was to pay income tax on half the amount of interest allowed to investors and depositors, which would exempt all these members from payment of income tax on their investments with the Society. The President said that borrowers were also exempt from property tax in respect of interest paid to the Society, if their income from all sources did not exceed £160 per annum," adding that if any of the members had difficulty in the matter, Mr Kaye would be pleased to give themadvice on the subject. In conclusion the President remarked that the year had not been free from anxiety, but that they were glad to be able to report progress. Mr G. P. Norton, in responding to a vote of thanks to the Auditors, congratulated the Directors and Staff on the excellent way in which the affairs of the Society were managed. A hearty vote of thanks was accorded to the Chairman for presiding, and for the deep interest he had taken in the Society from its establishment over thirty-one years ago. The retiring Directors were all re-elected, and at the next Board Meeting it was resolved that Frederick Crosland be re-elected President as usual, and that John H. Stuttard be re- elected Vice-President. An interesting Minute was recorded at the Board Meeting on 10 April 1896, which indicated the affectionate esteem in which both Henry Kaye and his son were held by the Board:

Resolved in consideration of the Secretary's long services to the Society that his son William Henry Kaye, who is now head clerk in the office, be admitted to the Board Meetings. This step is taken to give 'Willie' a little experience as to how the meetings are conducted, and to enable him to report the proceedings, should his father at any time not be able to attend.

*! The cost of these arrangements to the Society in the first year's liability was £129.6.0d. and this sum was authorized for payment at the Board Meeting of 17 January 1896.

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The thirty-second Annual General Meeting was held on 7 Novem- ber 1896. The President reported that the assets had risen to over £279,000. Notwithstanding the reduction in interest rates, the receipts in both the deposit and share departments had increased. The lowering of the mortgage rate had caused the hoped for rise in lending, and at the date of the Meeting the surplus funds were down to £17,000. Mr Crosland observed that 871 properties were in mortgage to the Society and that only one of these was in possession, whilst only five were subject to arrears of over twelve months. Alderman F. Calvert, who seconded the adoption of the Report, paid a high compliment to the President for the care and thought he continuously bestowed on the affairs of the Society. All the retiring Directors were re-elected. It was remarked in The Huddersfield Examiner of 14 November 1896:

Few more prosperous institutions can be found, considering the scope of its operations, than the Huddersfield Equitable Permanent Benefit Building Society. The past year's working, as the results were tabled at the Annual Meeting on Saturday evening, shows how thoroughly sound is the condi- tion of the Society, and how efficient and business-like the management.

At a Special Board Meeting on 29 January 1897, an application for a mortgage was considered for a loan of £600 on a chemist's shop and house at Boscombe, Bournemouth. The precedent of Mr G. P. Norton's earlier mortgage in the same town was followed, and favourable consideration was undertaken by the Board subject to valuation fees being paid both to Mr Kirk to overlook the matter, and to a surveyor in Bournemouth to be appointed by Mr Kirk. At the same meeting the view was expressed that the fire insurance premiums paid by members each year was far in excess of the claims made, and that it would be profitable for the Society to become its own insurers 'in order to receive the benefits which have been so long enjoyed by the insurance company'. The President and T. K. Mellor (with commendable patience, it may be thought) promised to look into this suggestion. The death of the President within a matter of weeks naturally interrupted considerations of this kind, but it can be said now that the Registrar of Friendly Societies pointed out that 'a Building Society cannot lawfully carry on the business of fire insurance', and that the idea was abandoned. March 1897 was a tragic month for the Society. At the Board _ Meeting on 12 March it was moved by Mr Crosland and seconded

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by Mr Stuttard that a copy of the following Resolution be sent to Mrs Goodwin:

The Directors very much regret to have to record the death of Mr. Joseph Goodwin, which sad event took place on 3 March 1897. Mr. Goodwin was appointed a Director of the Society on 16 February 1872, which office he continued to hold up to the date of his death. He was at all times courteous and genial, and most regular in his attendances at the Board Meetings. The Directors feel that they have lost the services of a true and valued friend, and one who had the welfare of the Society at heart. They desire to tender to his widow and family their sincere sympathy in their sad and painful bereavement.

During the same month the Society also suffered the grievous loss of its President. A Special Board Meeting was held on 27 March, the day following Frederick Crosland's death, when it was recorded:

This meeting was called to make arrangements with respect to attending the funeral of the Society's highly esteemed President, Mr. Councillor Frederick Crosland, whose death took place on Friday morning, 26th instant, after a short illness." Resolved that the Directors be requested to attend at the office on Tuesday morning 30 March at 10 o'clock in order to accompany the remains of the deceased gentleman to their last resting place at Huddersfield Cemetery, and that the Secretary be instructed to send a wreath on behalf of the Directors as a further token of their respect and esteem.

At the regular Board Meeting on 9 April 1897, the Minutes recorded: A

It is with deep regret that the Directors have to record the death of their highly esteemed President, Mr. Councillor Frederick Crosland, which sad event occurred on Friday morning, 26 March 1897. He was one of the founders of the Society and at its establishment was enrolled as its first subscribing member. He was appointed a Director at its commencement, and remained on the Board up to the date of his death. Mr. Crosland was made Vice-President on 30 October 1868 and President on 27 May 1881, which latter office he continued to hold until the time of his death. Resolved that a letter of condolence be sent to Mrs. Crosland.

It was resolved that John H. Stuttard, the Vice-President, be elected President of the Society, and that the election of the new Vice- President be postponed until the next Board Meeting.

* Frederick Crosland, a 'Retired Wollen Merchant', died at the age of 64 of 'Acute Periostitis' (inflammation of the bones) and 'Exhaustion' after an illness of 9 days, accord- ing to his death certificate.

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Pasted into the Minute Book is a letter dated 13 April 1897 from Frederick Crosland's daughter, Mrs S. L. Dyson. She wrote:

Dear Mr. Kaye,

Will you kindly convey to the Directors of the Building Society my mother's most sincere thanks for their expressions of sympathy with her in her great desolation. It has been a comfort to us in our sorrow to receive the many testimonies of esteem and affection for my dear father from his fellow workers. We rejoice in all that he has been enabled to do. We who know him best alone know how much this has been, and how faithfully and cheerfully and with what quiet laying aside of self it has been done. We thank the Directors also for their gift of flowers a fort- night ago, and we thank you for your own personal true words of sorrow and sympathy. I am, yours very sincerely, S. L. Dyson.

The Directors had held Frederick Crosland in the highest regard and affection, as was shewn by their decision to have a portrait of their late President prepared by Mr John E. Shaw, at a cost of twelve guineas, to be hung in the office in memory of a man who had served the Society with devotion for over thirty-two years. At a Special Board Meeting on 23 April 1897, John E. Webb was elected Vice-President of the Society following John H. Stuttard's appointment as President. At the same meeting four gentlemen were suggested as being suitable and eligible persons to become Directors of the Society in connexion with the two vacancies on the Board occasioned by the deaths of Frederick Crosland and Joseph Goodwin. They were Lewis Radcliffe, Robert Nelson," James Brook and J. Stottart. Messrs Radcliffe and Nelson were elected and attended their first Board Meeting on 17 June 1897. The Directors continued to concern themselves with the good appearance of the offices in John William Street. In August 1897 steps were taken to remove loungers who were in the habit of sitting and smoking on our window-sills, and in September it was resolved that the offices should be thoroughly cleaned, painted and papered by Mr Stuttard's firm. The Directors, as always, continued to keep a close watch on costs. At the Board Meeting on 22 October, 1897, it was resolved that to save postage as many of the printed Annual

1 Lewis Radcliffe, a future President of the Society, was the Managing Director of John Radcliffe & Sons Ltd. ___ * Robert Nelson was a Director of Nelson & Woolgar, Shippers, St John's Road, Huddersfield.

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Reports as possible should be handed to the members by the auditors on the last subscription day in the Financial Year. The thirty-third Annual General Meeting was held on 6 November 1897. The new President, John H. Stuttard, was able to report on the operations of the most successful year in the history of the Society. The assets had risen to over £282,000, and for the first time the receipts were over £100,000. The advances of nearly £69,000 during the year were also a record, proving the success of the Board's mortgage policy by the reduction of the surplus cash (other than the reserve fund of £7,000) to under £3,300. The President reported with justifiable pride that the Society had not a single property in possession. Mr Stuttard spoke of the deaths of Frederick Crosland and Joseph Goodwin, and paid high tribute to the work of the late President. He said that the Society's present position was due in no small degree to Frederick Crosland's tact, sound judgement and untiring devotion, and that the Directors felt that they could not pay too high a tribute to his memory. The retiring Directors were unanimously re-elected. Mr G. P. Norton spoke in the most com- plimentary terms of the work of Henry Kaye, and observed that he had never audited books that were more accurately kept. The meeting was an historical one in that it was proposed and carried unanimously that the Directors should be paid an honorarium of a hundred guineas for their services, which it was agreed at the next Board Meeting should be divided as to £15 for the President and £10 each for the other nine Directors. These modest fees remained constant from 1897 to 1904. At the Board Meeting on 17 December 1897, the resignation from the Board of John E. Webb was accepted with the utmost regret. It was resolved that a letter should be written thanking Mr Webb for the service he had given to the Society over a period of 29 years, and expressing the sorrow of the Directors that the claims of business

! John E. Webb, who died in 1927 at the age of 83, was a distinguished citizen of Huddersfield, a pillar of the Conservative Party and a man of great energy and ability. His ultimate appointment as President of the Society would have been assured, it may be thought, had not his increasing involvement in business and public affairs made his resignation from the Board inevitable. A man of wide interests, John Webb delivered a number of papers to that most critical of audiences, the Union Discussion Society of Huddersfield, which was established in the same year as the Huddersfield Building Society. Webb was a founder member, and held the unique record of being elected President of the U.D.S. five times, with the final appointment of Hon. Life President. Other members of the U.D.S. who have served on the Board of our Society include T. K. Mellor, J. D. Eaton Smith, T. P. Downey and myself.

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had become too exacting for Mr Webb to continue as a member of the Board. He had been replaced as Vice-President by T. K. Mellor during the previous month. At a Special Board Meeting on 28 January 1898, it was resolved that James Brook be appointed a Director in place of John E. Webb. At the same meeting the resignation from the Board of Alfred Jubb, on account of increasing pressure of business, was accepted with regret. At the Board Meeting on 11 March 1898 the resignation of C. Lewis Berry, our Slaithwaite Agent, was accepted, and the selection of a suitable successor was left with the President and Vice-President. Alderman Richard H. Inman, a Mineral Water manufacturer (who was to be a future President of the Society) was elected a Director in place of Alfred Jubb at the Board Meeting of 7 April. From 1869 to 1897 the Annual Conferences of the Building Societies' Association had always been held in London. In 1898, however, the meeting was to take place on 11 May in Bradford, and at our Board Meeting on 7 April it was resolved that the President and Vice-President be appointed as the Society's delegates to attend the conference. At the Board Meeting on 6 May 1898, on the recommendation of the President and the Vice-President, Charles W. Sykes was appointed as the new Agent of the Society at Slaithwaite. Mr Sykes was required to invest £100 with the Society as security for the faithful discharge of his duties. It was additionally resolved that an advertisement of the Agency should be inserted in The Slzithwaite Guardian. On 30 June 1898, William Henry Kaye, the Head Clerk in the office, had married Louisa Longbottom. At the close of the Board Meeting on 29 July 1898, the President, on behalf of the Board, presented W. H. Kaye with a handsome mahogany bureau to mark this happy event. It was recorded in the Minutes that he thanked the Directors not only for the generous gift, but also for the kindly feeling towards him that was expressed by the President and other Directors when the presentation was made. The thirty-fourth Annual General Meeting of the Society was held on 5 November 1898. Mr Stuttard was able to report that the Society was continuing 'its upward course of prosperity and success', with record receipts of over £105,000 and assets of over £287,000. Over £47,000 had been advanced during the year, and the President was again able to report the absence of any properties in possession.

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Mr J. E. Willans, j.r., one of the Trustees, remarked upon the sound and flourishing condition of the Society, its admirable manage- ment, and the guarantee of the 'eminent auditors' that all was in order. The usual compliments were paid, and all the retiring Direc- tors were re-elected. At the next Board Meeting on 18 November the President and Vice-President were re-appointed. A Special Board Meeting was called on 24 February 1899 to consider a letter from the Society's Surveyor, James S. Kirk, on the subject of his scale of fees, which had remained constant since 1864. Comparisons were made with the fees paid by five other Yorkshire societies, and it was agreed that Mr Kirk should be paid on a more generous basis. On 6 August 1899, Joseph Bottomley, the Society's Solicitor, died suddenly in Kendal. He had no partner, and a Special Board Meeting was called on 21 August, to consider 24 applications for the appointment from Huddersfield solicitors. It was decided to employ Messrs Armitage, Sykes & Hinchcliffe, of 13 Westgate, Huddersfield, subject to three months' notice of termination of the appointment at any time. The partners in the firm were James Sykes and Arthur E. T. Hinchcliffe, and in the Minute Book is a letter from the Solicitors dated 28 August 1899 accepting the terms of the engagement, and stating that Mr Hinchcliffe would be mainly respon- sible for the work of the Society. The tenure of office of James Brook as a Director of the Society was a short one. He was appointed, it will be recalled, on 28 January 1898. At the Board Meeting on 22 September 1899 the President read a letter from Mr Brook tendering his resignation owing to his continued and prolonged absences from Huddersfield on business, and his consequent inability to attend the meetings. The resignation was accepted with regret. The thirty-fifth Annual General Meeting of the Society was held on 11 November 1899, and Mr Stuttard was able to report another year of progress, and record receipts of over £107,000. The assets had risen to over £296,000. Over £58,000 had been advanced on mortgage during the year, and the Society had no property in possession on its books, and no borrower whose payments were 12 months in arrears. The President said that in order to strengthen still further the position of the Society, the reserve fund had been increased from £7,000 to £10,000. All the retiring Directors were re-elected, and among the compliments paid, Mr Herbert Sykes of

6

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Armitage and Norton said that the position of the Society must be the envy of all other building societies. At the Board Meeting of 17 November 1899 J. H. Stuttard and T. K. Mellor were re-elected as President and Vice-President, and it was decided to fill the vacancy on the Board caused by the resigna- tion of James Brook by extending an invitation to Alderman William H. Jessop to become a Director of the Society." In view of the number of mergers taking place among building societies as this paragraph is written (December 1973) it is of interest to record another matter mentioned at this meeting, despite the fact that in the event, nothing came of it. A letter had been received from Alfred Pontefract, the Secretary of the Huddersfield and County Permanent Building Society, a small local organization which was evidently in difficulty and wished to transfer its engagements to our Society. A Special Board Meeting was held on 13 November 1899 to receive a deputation of two Directors and the Secretary from the Hudders- field and County, who 'explained the position of their Society'. They were courteously received by Mr Stuttard, but it was decided at the next Board Meeting on 15 December 1899 that all that could be offered was a willingness to consider individual applications from borrowing members of the Huddersfield and County Building Society as if they were new intending mortgagors of our Society. It will be recalled that the same procedure was adopted in earlier years in the matter of the Huddersfield and District Self Help Perma- nent Building Society, to use its final title before it was wound up. At the Board Meeting of 6 April 1900, the important decision was taken to raise the deposit rate to 2$%,, and to meet the cost by suspending the payment by the Society of the legal charges on mortgages. This was a re-orientation of policy, aimed at increasing investment intake and damping down the demand for mortgages. It is interesting to record that an operation of this kind (which is all too frequently needed today through no fault of the building society | movement) was necessary as long ago as the turn of the century. The reason for it was that the Society had attracted so much mortgage business that it was having to receive some support from the Bank, which had been willingly given. It was resolved, however, at the Board Meeting of 1 June 1900, that the President, the Vice-President and J. Haigh should see Mr T. H. Stott, the Huddersfield Manager

* William H. Jessop, a Borough Magistrate, was a Director of Graham & Jessop, Contractors, Builders and Quarry Owners of Moldgreen, Huddersfield.

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of the London, City and Midland Bank (which had taken over the old Huddersfield Banking Company Ltd) with a view to improving the terms of the Society's account. The meeting with the Bank took - place on 20 June, and the deputation reported a satisfactory outcome to the Board on 29 June. The Society was to receive 3% on credit balances of £3,000 and over, and 24% when the balance was under £3,000. When the Society's account was overdrawn, the Bank would charge 4%, over bank rate, with a maximum of 4%. The Bank agreed to reduce its commission on turnover from 2s. to 1s. per £100, and to continue to pay for the printing and stamping of the Society's cheques. _ The thirty-sixth Annual Meeting was held on 3 November 1900. Mr Stuttard was able to report record receipts of nearly £108,000, and total assets of over £307,000. The Society had 5,869 open ac- counts held by 1,502 depositors and 3,771 borrowing and investing members, showing that the practice of members having more than one account was developing. There were no properties in possession and no borrowers' accounts 12 months in arrear. The retiring directors were unanimously re-elected. In replying to a vote of thanks to the auditors Mr G. P. Norton was reported in The Huddersfield Examiner of 5 November 1900, as saying that he 'personally wished to suggest that as far as possible the directors should throw more responsibility on the shoulders of Mr Henry Kaye's son, though of course he hoped that the present secretary would have health and strength to fill the office for some years. He thought that the infusion of young blood would be beneficial'. It may be thought that a public Annual Meeting was hardly the time and place for an opinion of this kind to be voiced by the Society's Auditor, particularly in view of the fact that Henry Kaye, despite his long service to the Society, was still under sixty. However that may be, the President was reported by The Huddersfield Examiner as replying that 'the question raised by Mr Norton had not been lost sight of and in fact was being taken into consideration by the Directors on the lines indicated by Mr Norton'.* It was reported for the first time that the Directors' honorarium of one hundred guineas was free of income tax.

* In the event, nothing was done in this regard until Henry Kaye (following his own serious illness in the autumn of 1901) requested that his son be appointed Assistant Secretary. It is worthy of mention that at the Annual Meeting in 1907 Mr Norton was reported by The Huddersfield Examiner as declaring that 'In Mr Henry Kaye the Society had a Secretary in a thousand'.

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The first Minute of the Board Meeting of 8 February 1901 was headed 'Death of Queen Victoria, Tuesday, 22 January, 1901'. It read as follows:

Previous to commencing the business of the meeting, the President referred to the great loss the country had suffered by the death of our beloved Queen. He observed that they had all reason to be thankful for having had the privilege of living under her rule. Never could they recollect such a life of long and unbroken devotion to duty as Queen Victoria's, and the reward had been the love of her people which was more than a mere expression of loyalty. The President concluded his remarks by moving that the Board require to place on record their pro- found sorrow at the irreparable loss the country has sustained in the death of their late, revered and dearly loved Sovereign Lady Queen Victoria, and to express their sincere sympathy with the members of the Royal family in their overwhelming sorrow. 'The Vice-President in a few appropriate remarks seconded the Resolution, and it was carried in silence by all standing.

At the Board Meeting of 28 June 1901, the Directors resolved that the deposit rate should be raised to 3%, the second increase in little over a year. At the same meeting the question of the fire insurance of properties mortgaged to the Society was again raised. All the busi- ness went to the North British and Mercantile Insurance Co., who in return made a contribution of £25 to the Society's office rent. The County Fire Office was anxious to secure the Society's fire insurance business, and it was resolved that the Secretary should write to the Leeds Manager of the North British and Mercantile Insurance Co. to ascertain if the annual payment of £25 could be increased. It was recorded at the Board Meeting of 26 July 1901 that the Directors 'were not pleased' at the response of the North British and Mercan- tile, and the President, Vice-President, Secretary and Solicitor were invited to negotiate a settlement with the Manager of the County Fire Office. As a result, the latter company agreed to pay to the Society at seven-year intervals 25% of all fire premiums remitted through the Society during that period. These terms were accepted, and the Society's fire insurance business was transferred to the County Fire Office. It was resolved at the Board Meeting of 23 August 1901, that the resignation of Mr T. H. Lawford, the Society's Agent at Meltham, be accepted. Mr Lawford, who was 83 years of age, was the first Agent appointed by the Society, his 36 years employment dating back to 1865, during the short tenure of office of the first Secretary,

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John Smith. The Society had always appreciated (as it continues to do today) the devotion of its old servants, and it was resolved that the following letter to be sent to Mr Lawford: In accepting your resignation, the Directors desire to express their appreciation of your 36 years efficient and faithful service. They have been very much pleased with the interest you have always evinced in the welfare of the Society, and the painstaking way in which you have carried out the duties of agent. Your unvarying punctuality and accuracy in all matters of accounts and details have won you their respect and regard, and they hope you may yet be spared for some years to come to enjoy your well-earned rest. It was resolved that Mr William Carter, an architect and surveyor in Meltham, be appointed as Mr Lawford's successor, subject to his entering into the usual bond for the faithful discharge of his duties. In the autumn of 1901 Henry Kaye, who had never missed a Board Meeting since his appointment in 1867, was unable to attend the office on account of illness. At a Special Board Meeting called on ; September it was resolved that William Henry Kaye be empowered to act as Secretary and to sign and endorse all cheques and other negotiable instruments until further notice, as a result of the Sec- retary's illness and consequent inability to attend to business. By November 1901, Henty Kaye was restored to health, but at the Board Meeting of 15; November he requested that his son should be appointed Assistant Secretary. It was resolved that the matter be left in the hands of the President and Vice-President, who made their recommendation a week later on 22 November. It was that William Henry Kaye be appointed Assistant Secretary at a salary of {200 per annum, and that the sum of £1,936.9.o0d. standing to the credit of Henry Kaye with the Society should stand as joint security for both the Secretary and Assistant Secretary. The Directors accepted the recommendation, subject to the formality of an Agree- ment being prepared by the Society's Solicitors and approved by the Board. It may be thought that the series of events recorded in the Minutes suggest that W. H. Kaye owed his appointment to his father, and to the accident of Henry Kaye's illness," rather than to * When Henry Kaye died at the age of 70 on 4 March 1913, the causes of death were stated to be 'Cerebral atheroma (some years), and cerebral thrombosis (one month)'. In his obituary in The Huddersfie/d Examiner of 5 March 1913, it was said that Mr Kaye had suffered from strokes 'during the last six years'. The nature of his illness in 1901 is not recorded in the Minutes, but it may be that his state of health thereafter was an ingredient in the reason for his request for his son's appointment, and in the fact that

from 1904 onwards W. H. Kaye often deputized for his father at the Annual Meetings of the Building Societies' Association.

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the suggestion made by Mr G. P. Norton a year previously at the Annual Meeting. The thirty-seventh Annual Meeting of the Society was held on 30 November J. H. Stuttard was supported by the whole Board and by Alderman E. Woodhead, the Mayor of Huddersfield. The President was able to report a rise in assets to over £333,000 and record receipts of over £120,000. The membership had increased to 6,282 open accounts. The mortgage balances totalled over £333,000, the Society having no properties in possession, no bor- rowers twelve months in arrears, and no mortgage exceeding £5,000. Mr Stuttard remarked that in circumstances where difficulties had to be glossed over and losses explained the task of a Chairman could be a difficult one. In the case of the Society, however, where every department was in the best possible condition and could scarcely be better for the wishing, the President's duty was greatly simplified. He referred with thankfulness to Henry Kaye's recovery from his recent illness, and to the appointment, at the Secretary's request, of W. H. Kaye as Assistant Secretary. All the retiring Directors were re-elected, and the Mayor of Huddersfield con- gratulated the members on such a splendid Report as that placed before them. He added that in some quarters it was said that Hudders- field was on the decline, but that it seemed to him that on the basis of the state of the Building Society, the Borough was going up and going forward. The Society's move in 1902 into part of Britannia Buildings in St George's Square, backing on to St Peter's Street, was fortuitous, in that it was precipitated by the receipt of a six months' notice to quit dated 30 December 1901, served upon the Secretary by the owner of 37 John William Street. At the Board Meeting on 15; January 1902, it was resolved that a Committee, consisting of the President, the Vice-President, R. Riley, and W. H. Jessop, be invited 'to look out for suitable premises, and make the best arrangement they can to - secure the same'. On 15; January the Committee inspected available properties in New Street, Kirkgate and elsewhere, but came to the conclusion 'that the most suitable offices for the Society were those occupied by the Commercial Union Assurance Co. across the way in St Peter's Street, and the Secretary was instructed to write and ask

* The coincidence of the similarity of the figure of mortgage balances with that of assets (using approximations to the nearest £1,000) is due to the fact that on this occasion the Society's overdraft equalled the assets other than the mortgage balances.

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what they would require for the ground floor and basement portion only'. The Committee met again on 20 January 1902, to consider the response to Henry Kaye's letter, which was an offer of the required part of the ground floor and basement of Britannia Buildings at a rental of £150 per annum for the unexpired six years of the existing lease, the Society to be responsible for rates. The Committee was empowered to settle the matter by its terms of reference, and as the proposed terms were considered to be satisfactory the Secretary was instructed to accept them, and to confirm that the Society's liability for the rent would commence on 1 July 1902. The historic move to Britannia Buildings apart, 1902 was an active year for the Society. Its continuing expansion involved the negotia- tion of an increased audit fee, and this was settled at 70 guineas with Armitage and Norton and approved by the Board on 4 April. On 2 May the Board resolved that new Agencies be established at Honley and Marsden as soon as possible. John Thornton, a news- agent of 21 Westgate, Honley, was considered to be a satisfactory Agent, and at the Board Meeting of 22 August 1902 he was appointed with effect from 12 September. The opening of the Honley Agency on the latter date was preceded by a public meeting in the Co- operative Hall in that village, John H. Stuttard taking the Chair. The President spoke with pride of the 38 years of the Society's progress, exemplified by the receipt of investments of £2,250,000 over the period, and mortgage advances of over £1,000,000. Of Henry Kaye it was said that he had given his life to the work of the Society, and that his son, as Assistant Secretary, was following in his father's footsteps. John Thornton was described as a man qualified in every way to occupy the position of trust as the Society's Agent in Honley. The thirty-eighth Annual General Meeting of the Society was held on 29 November 1902. Mr Stuttard reported that the total assets were now over £354,000 and that receipts for the year were over £142,000, representing a record increase of over £21,000 compared with the previous year. Mortgage advances were over £57,000, and once again the President was able to report that there were no properties in possession, no borrowers twelve months in arrear and no mortgages over £5,000. The mortgage balances were now nearly £340,000. The President commented on the Society's move during the year 'to more commodious premises in Britannia Buildings, St Peter's

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Street', and said that the Board had decided to open more Agencies, exemplified by Honley. William H. Armitage, the senior partner of Armitage and Norton, said that the Society was one of the soundest in the United Kingdom. He was reported in both The Huddersfield Examiner and The Huddersfield Chronicle of 1 December 1902, as saying that 'he knew personally the auditors of five building societies, and not one of them came up to the Huddersfield'. The retiring Directors were all re-elected. A Special Board Meeting was held on 28 January 1903, following the death of T. Walker Brooke, j.p., one of the two Trustees of the Society. The number of Trustees was increased to three by the elec- tion of W. Wrigley, j.p. and T. K. Mellor, the distinguished Vice- President of the Society. J. E. Willans, j.p. continued as the third Trustee. A further Special Board Meeting was called on 12 June 1903, to consider Agency development. The President, Vice-President, R. Riley, and L. were invited to visit Barnsley to report back to the Board on the possibility of opening an Agency in that town.2 It was resolved that Mr C. A. Goodall be appointed as the Society's Agent at Marsden, with accommodation at the Congrega- tional School.} On 3 July the now traditional public meeting was held at the Mechanics' Institute, Marsden, and the new Agency was duly launched with effect from 17 July 1903. The thirty-ninth Annual General Meeting of the Society was held on 28 November 1903. John H. Stuttard reported a rise in assets to nearly £386,000, and total receipts for the year of over £155,000. The amount lent on mortgage was over £87,000, an impressive increase of £30,000 on the performance of the previous year. Once again, the Society had no properties in possession, no twelve-month arrears cases and no mortgage in excess of £5,000. The President remarked on the progress made in the establishment of new Agencies, which was constantly under review by the Board. Mr Stuttard said that the Directors had decided to strengthen the - position of the Society and the shareholders by investing the Reserve

! William Wrigley of Bent House, Meltham, was a distinguished County Magistrate. * The Sub-Committee, after interviews with the Barnsley Manager of the London City and Midland Bank, a local auctioneer and estate agent and a building contractor in Barnsley, recommended to the Board on 26 June that no further steps be taken in the matter for the time being. 3 The Agency was moved to Towngate a few months later.

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Fund of £10,000 in carefully selected Trustee Securities," rather than retaining it in the Society's account. High compliment was paid to the memory of the deceased Trustee of the Society, T. Walker Brooke, j.p., and pride expressed in the fact that a Director of the Society, Alderman Richard H. Inman, had been elected Mayor of Huddersfield for 1903-4. The retiring Directors were re-appointed. It is of interest to record that not a single question was asked at the Meeting in regard to the Report and Accounts. At the Board Meeting of 11 December 1903 it was resolved that the Society's advertisements should be considerably enlarged, and that a new prospectus be issued. The question of an Agency at Barnsley was again discussed, together with the possibility of one at Doncaster. An application for an Agency was received from a Leeds firm of Solicitors, but at the next Board Meeting it was decided that this should be declined in view of the number of Leeds building societies in active operation. The resignation of William Radcliffe, for reasons of advancing age and infirmity, was regretfully accepted at the Board Meeting on 8 January 1904. The Directors placed on record their sorrow at losing the invaluable services of so old a friend. William Radcliffe had been a Director for over 31 years, having been appointed in August 1872. John J. Booth, a Huddersfield auctioneer and surveyor, was appointed a Director to succeed Mr on 4 March 1904, and attended his first Board Meeting on that day. For many years James S. Kirk, like his father before him, had served the Society as its Surveyor, enjoying an excellent relationship with the Board and with no record in the Minutes of any criticism of his work. At the Board Meeting of 5 February 1904, however, the first of two adverse comments was made. The Secretary was instructed to write to Mr Kirk drawing his attention to the con- siderable divergence between his valuation and the purchase price in connexion with a mortgage application by a Mrs Crisp. On 30 March a more serious criticism was recorded. Mr J. D. Barlow had applied for a mortgage of £300 on four houses in course of construction in Blackhouse Road, Fartown. Mr Kirk had provided an interim valuation, and Mr Lewis Radclifie expressed the opinion that Mr

1 On 12 December 1902, a Sub-Committee consisting of T. K. Mellor, J. Haigh, and R. Riley had been appointed to implement the decision. The Reserve Fund was invested in Railway Debentures, Manchester and Leeds Corporation Stock and Consols.

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Kirk's estimate of the value of the work done was too high. It was resolved that no grant be made until an inspection of the property had been made by Mr Radcliffe and Mr Booth. Mr Kirk was vindi- cated, for according to the Minutes there had been some confusion as to the identity of the properties concerned. At the Board Meeting of 27 May 1904 it was resolved that the Assistant Secretary, W. H. Kaye, should accompany the President and the Vice-President to the Annual Meeting of the Building Societies' Association to be held in Leeds on 8 and 9 June. At the same Board Meeting it was resolved that from 1 June the traditional practice of charging 'office expenses' on investing shares would cease. To meet the expense of this abandonment of a source of revenue enjoyed by the Society since its establishment, it was resolved to raise the mortgage rate to 4%, also with effect from 1 June. As a further example of the gradual but purposeful change of attitude of the Directors towards the operations of the Society in regard to properties distant from Huddersfield, it was resolved at the same Meeting that an application for a mortgage on a house in Reading by Mr Herbert Taylor be accepted, subject to a satisfactory valuation by a local surveyor of good standing. The Board Meetings of 22 July and 16 September 1904 were concerned with a suggestion that the mortgage deeds might be prepared in such a way that further advances could be made at little or no expense to the borrower, following the reported example of the Leeds Permanent Building Society. The Society's Solicitor, Mr Hinchcliffe, said that in his view it was illegal to make further advances without incurring stamp duty. It was resolved at the July meeting that the Solicitor and the Secretary should investigate the matter and report to the Board. At the September meeting it was disclosed that five Head Offices had been visited by Mr Hinchcliffe and Mr Kaye, being those of the Leeds Permanent, Leeds and Holbeck, Leeds Provincial, Bradford Second Equitable, and Bradford Third Equitable Societies, and that in each case both the Secretary and the Solicitor to the Society had been interviewed. Only the Leeds Permanent was in the habit of making further advances without taking any memorandum or paying duty, the sole charge being a 5/- Solicitor's fee. The other four Societies were following the same procedure as ourselves. It was resolved that no alteration be made in our existing practice of having the memoranda of further advances prepared by the Solicitor and duly stamped.

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The fortieth Annual Meeting was held on 26 November 1904. John H. Stuttard reported a rise in assets to nearly £425,000, and record receipts of over £168,000. Another record was that of mort- gage advances, which totalled over £101,000 during the year. The President was again able to claim that the Society had no properties in possession, no twelve-month arrears cases and no mortgage in excess of £5,000. It was noteworthy that the new Marsden Agency had done extremely well, having slightly exceeded the Honley Agency in both membership and receipts. Compliments were paid both by the President and the Vice-President to William Radcliffe for his devoted service to the Society over so many years, and a welcome extended to the new Director, John J. Booth, of whom it was said that 'no man could have a better knowledge of the value of property'. Richard Riley, in supporting the adoption of the Report, said, amidst applause, that Henry Kaye had been the Secretary for nearly 40 years, and had been assisted by his son for 19 years. Both the President and the Surveyor seem to have been carried away by these adventures in nostalgia. Mr Stuttard said that he was the only person living who was on the first Board of Directors," whilst James Kirk claimed that he had been the Society's valuer for over 40 years.3 Be that as it may, the meeting was highly successful. All the retiring Directors were re-elected, and the Board's fee was raised to £200, free of tax, with acclamation. This level of remuneration was to continue for six years. In April 1905 John Stuttard's only son died. At the Board Meeting of 28 April the Directors resolved to write a letter to the President expressing their sorrow and sympathy in this 'heavy bereavement'. Whether this tragedy was an ingredient in John Stuttard's relinquish- ment of the Presidency at the end of the year I do not know, but it can be said that from April 1905 Mr Stuttard played a less active part

* These statements were well meant, but were scarcely precise. Henry Kaye was appointed Secretary in 1867, and William Henry Kaye joined the Society on leaving school in 1887. * J., H. Stuttard was appointed a Director in 1867. His belief that he was one of the original Directors was evidently an entrenched false memory, for at the next Annual General Meeting in November 1905 (the last over which he presided) he was reported in The Huddersfield Examiner of 27 November 1905 as stating that 'he was the only surviving founder of the Society'. . 3 Leaving John Kirk, James Kirk's father and our first Surveyor, out of account, the Society had been established precisely 40 years in 1904.

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in the affairs of the Society than had been his habit. When, at the Board Meeting on 23 June 1905, it was resolved to appoint Mr Harry Lockwood of Town End, Golcar, as our Agent in that village, the President and Vice-President were invited to make the necessary arrangements. The Minutes indicate, however, that Mr Stuttard took little part in the establishment of the Agency. The President did not attend the Annual Meeting of the Building Societies' Association, which was held in Bristol in 1905. Lewis Radcliffe, accompanied by the Assistant Secretary, represented the Society. When, at the Board Meeting of 28 August, the important policy decision was taken actively to seek an Agent in Doncaster, the Sub-Committee appointed consisted of T. K. Mellor, L. Radcliffe, and J. J. Booth. It was T. K. Mellor and Richard Riley, moreover, who negotiated the agreement for a new lease of the portion of the ground floor and basement of Britannia Buildings occupied by the Society. In the latter connexion it will be recalled that the Society held its offices under an existing lease due to expire on 31 December 1907, a date that was not too distant. At the Board Meeting of 10 Novem- ber 1905, Messrs Mellor and Riley reported the result of their dis- cussions with the owner, T. P. Crosland. They had suggested that the landlord should agree that from January 1908 he would grant the Society a new lease for 7 years at the existing rent of £150 per annum, with an option to renew for a further 7 or 14 years at the will of the Society, without any increase in the rent. The owner was willing to accept this proposal, subject to the rent during the future (possible) 21-year term being £170 per annum. In the event, the agreement for the lease was settled at £160 per annum, after discussions extending into December and culminating in the landlord attending a Board Meeting. The owner additionally agreed that the Society could construct a strongroom in the basement in which to store its mortgage deeds and other securities, which he would take over 'at a valuation' should the Society ever vacate Britannia Buildings.? V

* J. H. Stuttard died on 25 November 1907 at the age of 72. The causes of death were 'Prostatic Hypertrophy (for some years), Chronic Pancreatitis (nine months) and Ex- haustion'. It would seem probable that he was an increasingly sick man for some years before his death. * The strongroom was designed by James Kirk, and at the Board Meetings of 6 and 27 April 1906 tenders for the mason's work (£247) from John Radcliffe & Sons Ltd, and for the door (£42.11.6d.) from Milner Ltd, were accepted.

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At the same Board Meeting of 10 November 1905, it was resolved that Mr F. J. Clarke, Accountant, of Oriental Chambers, Doncaster, should be appointed as the Society's Agent in that town. This was a significant milestone in the Society's development, since all the earlier Agencies had been established in villages around Hudders- field. It was also resolved that T. K. Mellor, L. Radcliffe, and J. J. Booth should continue to act as a Sub-Committee for the appoint- ment of new Agents 'in such suitable places as they think best'. This active trio followed their instructions by appointing forthwith a Barnsley firm of auctioneers and valuers, A. E. Wilby & Son, as the Society's Agents for the area containing the villages of Denby Dale, Scissett, Clayton West, Skelmanthorpe, and Penistone, all within reasonable reach of Huddersfield. The forty-first Annual Meeting of the Society was held on 25 November 1905. John H. Stuttard, presiding for the last time, reported a rise in assets to neatly £445,000, and receipts of over £161,000, being a slight reduction on the previous year's record performance. Advances were also reduced to rather under £69,000, with total mortgage balances of nearly £428,000. For the eighth year in succession, the President was able to report that the Society had no properties in possession, no borrowers 12 months in arrear and no mortgage in excess of £5,000. The President drew attention to the fact that of 1,423 properties mortgaged to the Society, no less than 1,215 of these were under £500 in amount, 'thus proving that the Society is carrying out its main object of helping a man to own his own house rather than pay rent'. Mr Stuttard also reported that the investments comprising the reserve fund had appreciated during the year by £217. All the retiring Directors were re-elected. At the Board Meeting on 8 December 1905, Thomas K. Mellor, the Vice-President of the Society, was elected President," and was

* The Directors obviously attached proper importance to the success of the Society's first Agency in a sizeable town, situated some thirty miles from Huddersfield. Great care was exercised in the choice of a Surveyor for the Doncaster area. Mr H. J. Ward was only appointed after he and Mr F. Earnshaw, another applicant, had been interviewed by T. K. Mellor, L. Radcliffe and J. J. Booth. * Thomas K. Mellor was a man of great ability and wide interests. He enjoyed the distinction, alone among the members of the Board, of being one of the three Trustees of the Society as well as a Director. He was a prominent member of the Union Dis- cussion Society of Huddersfield, before which he delivered three learned historical papers in 1873, 1881 and 1883 respectively, concerned with the Civil War, the character and government of Napoleon III, and Henry VIII and the Reformation.

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succeeded by James Haigh as Vice-President. John H. Stuttard remained a Director. This was a climacteric in the life of the Society, for it was the first occasion upon which a President's term of office had terminated except by death. The Minutes were silent both as to the reason for this change in Board policy and as to any future intentions, but it can be said now that T. K. Mellor and his six successors as president were each to hold their high office for a period of two years. The warm thanks and high appreciation of his fellow Directors to John Stuttard for successfully guiding the fortunes of the Society since 1897 were recorded in the Minutes. At the same Board Meeting it was resolved that the President, the Vice-President, R. Riley, R. S. Dyson, and L. Radcliffe should form an Emergency Committee empowered to deal with urgent mortgage applications and other routine matters between the monthly meetings, should it be inconvenient to summon the whole Board. The Annual Meeting of the Building Societies' Association in 1906 was held in Newcastle-upon-Tyne on 20 and 21 June, and at the Board Meeting of 27 April it was resolved that the President, Richard Riley and the Assistant Secretary should attend as representatives of the Society. At the Board Meeting of 25 May 1906, the matter of the Auditors' fees (against the background of the Society's continuing expansion) was discussed, following correspondence with Armitage and Norton. Increased fees for 1906 and 1907 were agreed, together with an arrangement thereafter which linked the fee on scale to the Society's turnover, the formula being entirely acceptable to Armitage and Norton. Due to the significantly reduced lending in the previous year's operations, the Society was again faced in 1906 with the problem of surplus funds. In consequence it was resolved at a Special Board Meeting on 3 July (following correspondence with the Borough Treasurer of Huddersfield culminating in a letter from him on 2 July) that the Society should lend Huddersfield Corporation £20,000 at 3§%, for one year certain, thereafter subject to six months' notice on either side. By August 1906, the strong-room in the basement of Britannia Buildings was completed. At the Board Meeting on 17 August it was resolved that the boxes of securities in the custody of the London City and Midland Bank be lodged in the Society's strong-room. It was an historic removal, for it meant that after 42 years in the bank

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vaults the mortgage deeds and other securities would henceforth be kept on the Society's own premises. This is not the place to offer any account of the history of leasehold tenures in Huddersfield and their ultimate acquisition by the Cor- poration. Suffice it to say that in 1906 much leasehold land in the town was held on 99 years' leases from the estate of Sir John W. Ramsden. The Directors realized that property subject to leases of this kind would depreciate in value as the leases progressed, and the matter was discussed at the Board Meeting of 9 November 1906. It was resolved that the Halifax Building Society should be reminded of the situation, so that a joint approach might be made to the Ground Landlord.) The forty-second Annual Meeting of the Society was held on 24 November 1906. It started sadly, for the President, T. K. Mellor, said that before dealing with the business of the meeting it was his sorrowful duty to report the death that morning of Robert Nelson, a member of the Board. After paying a high tribute to an old col- league and a devoted servant of the Society, the President asked the members to join in a resolution expressing regret at Mr Nelson's death, and of sympathy with Mrs Nelson and the family. T. K. Mellor reported a rise in assets to over £493,000 and record receipts of almost £188,000. Nearly £92,000 had been advanced on mortgage during the year. For the ninth year in succession, the Society had no properties in possession, no borrowers who were twelve months in arrear and no mortgages in excess of £5,000. For the thirty-third year in succession a bonus to borrowers and investors was declared, and as had been customary for a considerable period the rate was at 2s. 1d. per share. Despite the moderate increase in mortgage business the Society still had surplus funds of over £6,000 in the bank, in addition to the Huddersfield Corporation loan of £20,000 and the reserve fund. In order to remedy this situation, it was announced that the Board was prepared to consider applications for non-reducing mortgages at simple interest only at a rate of 4%, and it can be said now that for a few years a limited amount of such business was transacted. As

1 Our Society took the initiative, and the President and Vice-President discussed the matter with Mr Beadon, Sir John Ramsden's Agent. They were successful in making out a case for the difficulty of both disposal and mortgage of short leaseholds. The Agent subsequently said that Sir John had invited him to prepare a procedure for the changing of such tenures to 999 year leases.

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matters turned out this additional outlet for surplus funds proved unnecessary. All the retiring Directors were re-elected. Despite the silence of the Minutes on the subject, in moving a vote of thanks to T. K. Mellor for presiding J. Sykes, one of the Society's Solicitors, revealed that the Board 'had adopted the principle of letting the office of President rotate, hence they might see a succession of Presidents, as there were fully qualified and capable men on the platform'. T. K. Mellor, in his reply, said that he would be very pleased to see others occupy the position of President. At the next Board Meeting on 7 December T. K. Mellor and J. Haigh were re-elected President and Vice- President. At the Board Meeting of 4 January 1907, Percy F. Holmes was appointed a Director of the Society to fill the vacancy caused by the death of Robert This was the beginning of a year of high activity in the Society's affairs, including a welcome and very con- siderable upsurge in mortgage lending and some Agency develop- ment. On 1 February, following the death of our Shelley Agent, his son Harold Emmott was appointed as his successor. Ata Special Board Meeting called on 14 February, it was resolved that George H. Beall be appointed as the Society's Agent in Darlington, with Messrs Kitching and Lee of the same town as the Surveyors. The former appointment was, unfortunately, doomed to early disaster. At the Board Meeting of 27 March it was resolved that the indefatigable Agency Sub-Committee should visit Stockton-on-Tees to prepare the ground for establishing an Agency in that town. On 26 April 1907, as a result of the Sub-Committee's report, Richard Jewitt was appointed as the Society's Agent in Stockton-on-Tees, Ralph Apple- ton and Son of the same town being appointed as the Surveyors. At the same Board Meeting the Assistant Secretary reported that the father of the newly-appointed Darlington Agent had become bankrupt, and that in the circumstances W. H. Kaye had suggested that in the Society's interests George Beall should resign as Agent. Mr Beall had written to the Board seeking to retain the Agency, but the Directors accepted the Assistant Secretary's recommenda- tion, subject to Mr Beall being caused as little embarrassment and inconvenience as possible.

___ 1 Percy F. Holmes was the Chairman of W. C. Holmes & Co. Ltd, Engineers, of Turn- bridge, Huddersfield.

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At the same meeting it was reported that the Annual Meeting of the Building Societies' Association in 1907 would take place in London. It was resolved that the President and the Assistant Secretary would attend as the Society's representatives. On 24 May Watson & Heslop, Accountants, of 8 Priestgate, Darlington, were appointed as the Society's new Agents in that town. It was also resolved that ten guineas be paid to the unfortunate George H. Beall in recognition of his brief services to the Society. As I have indicated, 1907 was a year of highly successful mortgage lending, which meant that if the Board had been given the capacity to foresee the future the loan of £20,000 to Huddersfield Corporation would not have been necessary. As matters stood, the Society was considerably overdrawn at the Bank, and in consequence two decisions were taken at the Board Meeting on 21 June. It was agreed that the President and R. Riley should see the Bank Manager to ascertain by what ultimate amount the Society's account could be overdrawn on the existing terms. It was also resolved that a letter should be written to the Borough Treasurer explaining the Society's position, and asking if the Corporation would be willing to repay part or the whole of the loan without insistence on the agreed terms of notice. At a Special Board Meeting on 26 June a further corrective measure was discussed. It will be recalled that from the date of the first decision to pay an annual bonus, this had been distributed to borrowers and investors alike. It was now decided that no bonus should be paid to new borrowers from 1 December 1907, and that steps should be taken to revise the Rules to give the Directors full discretionary power to deal with surplus profits as the situation demanded. Whilst it could be urged that subsequent events proved that the decision to invest £20,000 with Huddersfield Corporation in 1906 was an error of judgement on the part of the Directors and the Officers of the Society, it has to be remembered that over a long period of years the Society had become conditioned to an ever- recurring problem of surplus funds (the precise opposite of the difficulty encountered by the movement today) and that the sudden reversal of the situation in 1907 could scarcely have been foreseen. However that may be, both the Corporation and the Bank clearly entertained the highest regard for the Society, and were very willing to be helpful. On 28 June 1907 the Borough Treasurer wrote to Henry Kaye to say that in the circumstances his Committee had

7

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authorized him to say that the whole £20,000 would be repaid to the Society on 1 July, subject only to our paying the Stamp Duty of £25, because the period of the investment had been less than a year. The relevant part of the letter from the Manager of the London City and Midland Bank of 6 July to Henry Kaye is worthy of reproduction, since it demonstrates the trust placed in the Society's financial situation: Dear Mr. Kaye, Adverting to my conversation with your son as to overdraft, I recently fixed with my Board a limit of £15,000, which I thought might cover your requirements. You will no doubt remember that we have not hesi- tated to allow you more than this recently, and if the above limit does not cover your requirements, I shall be quite willing, as I told you, to grant further sums if you need them. The ever-increasing business of the Society resulted in an impor- tant decision at the Board Meeting of 19 July 1907. From the establishment of the Society in 1864 the Directors had met once a month, but it was now agreed that it was necessary for the Board Meetings to be held once a fortnight. The forty-third Annual Meeting was held on 23 November 1907. T. K. Mellor reported a rise in assets to over £539,000, with record receipts of nearly £191,000. Most satisfactory of all, however, was the rise in mortgage advances during the year to over £142,000, an increase of nearly £51,000 on the figure for 1906. Despite this greatly enlarged lending, giving mortgage balances of over £530,000, the President was able to report that for the tenth year in succession there were no properties in possession, no borrowers who were twelve months in arrear and no mortgages over £5,000. The retiring Directors were all re-elected. On the subject of the Society's finances, The Huddersfield Examiner of 25 November reported the President as saying: The principal difference from last year was that the Society had advanced very much more money. At the last Annual Meeting they had £20,000 invested with the Corporation of Huddersfield, and a fair bank balance. Early in the year the Board had tried to find some use for that money, and ultimately they found that in the Stockton and Darlington districts there were not many building societies and a good demand for money. They had established branches there, and were doing a very nice business at Doncaster, where they had established a branch the year before. It had had one effect - they had got rid of the surplus funds and had had to go a

little on the other side; but seeing that their monthly income would pay _ off the bank in two months that did not cause the Directors any anxiety.

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The Huddersfield Examiner also reported some remarks by the Auditor:

Mr. G. P. Norton, in returning thanks, said the books and accounts of the Society were as near perfect as they could be. In Mr. Henry Kaye the Society had a Secretary in a thousand. The auditors and their clerks made the most careful scrutiny that could possibly be made, and their difficulty was to find anything wrong. There were 1,618 documents of securities, all of which had to be gone through by the Society's solicitors and auditors, and they were absolutely in perfect order.

It can safely be said, I fancy, that at the close of a not uneventful year, all was well with the Society. At the next Board Meeting on 6 December 1907, the death of John H. Stuttard two days subsequent to the Annual Meeting was recorded with warm tributes to the former President, and a resolution that a letter be sent to Mrs Stuttard expressing the Board's deep sympathy with her and her family in their sad bereavement. In accordance with the principle of rotation agreed upon, Richard Riley was elected President of the Society, James Haigh continuing as Vice-President. Although the Minutes are silent on the point, I think we must assume that James Haigh (like my old friend the late Colonel Reginald Rippon, j.r.) was either too modest to accept the high office of President of the Society, or was possibly experiencing the early stages of the deterioration in health that was to lead to his retirement from the Board in 1909. It will be recalled that James Haigh, appointed to the Board concurrently with T. K. Mellor in 1885, was a Director ten years senior to Richard Riley, who joined the Board in 1895. It was resolved at the same meeting that T. H. Moore, J.P., be appointed a Director in place of the late John H. Stuttard.* Yet another Board Matter was decided on 21 February 1908, when it was resolved that only two Directors (or three at most) should retire each year, instead of five. A point of principle in connexion with mortgage advances (which has been standard practice ever since) was established at the Board Meeting of 24 April 1908. It was resolved that the Surveyor must satisfy himself that streetage charges had been paid in cases where the road was not adopted, and that if necessary the Secretary should

* Thomas H. Moore was a Director of William Willans, Ltd, Wool Merchants and Importers of 32 Market Street, and was thus associated in business with J. E. Willans, J.P., one of our Trustees.

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retain such a sum from the advance as in the opinion of the Surveyor would cover any such future liability. At the next meeting on 24 May the Minutes recorded that this procedure 'was intended to apply particularly to speculative builders'. At the same Board Meeting of 24 May 1908, the Society's Solicitor attended to go through the proposed alterations to the Rules, which were approved by the Directors. It was resolved that the Secretary should convene a Special Meeting of members to obtain the neces- sary approval, and that a draft of the proposals be sent to the Chief Registrar for his examination and approval before the meeting. At the same Board Meeting it was resolved that the President, accompanied by T. K. Mellor and the Assistant Secretary, should represent the Society at the Annual Meeting of the Building Societies' Association at Halifax on 24 and 25 June 1908. The Special Meeting of members was held on 30 July 1908, and the proposed alterations to the Rules were presented and explained. They were few and simple in character. In the main, they consisted of the retirement of two instead of five Directors each year, the granting to the Board of the right to issue Paid Up Shares, and the power to determine how much of the profit at the end of each year should be added to the reserves and to distribute the residue 'by way of bonus amongst the members, or any class of members, in such manner as [the Directors] may in their discretion think fit'. The last clause was the most significant, in view of the Board's ultimate determination to limit the bonus to investing members. A formal alteration was the change of address of the Head Office from 37 John William Street to 'Britannia Buildings, St. Peter's Street, Huddersfield'. The proposals were submitted to the meeting and carried unanimously. At the Board Meeting of 9 October 1908, it was resolved that the Directors would henceforth retire in order of seniority, and since under the new Rules only two Directors would retire, T. K. Mellor and J. Haigh would do so at the next Annual Meeting. The forty-fourth Annual Meeting was held on 21 November 1908. Richard Riley, the President, said that the year had been one of the most successful in the history of the Society. The assets had increased to nearly £560,000, and the receipts had reached a new record of over £213,000. Almost £105,000 had been advanced on mortgage during the year. For the eleventh year in succession, these results had been achieved without any properties in possession,

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arrears cases of twelve months or mortgages exceeding £5,000. At the date of the Annual Meeting the Bank overdraft had been paid off. High tribute was paid to the late J. H. Stuttard's work for - the Society. The two retiring Directors were re-elected, the usual compliments were paid and the Board awarded its customary £200. At the Board Meeting on 31 December 1908, the final stage of the Board's policy in regard to the payment of bonus to borrowers, fore- shadowed in November 1907, was implemented. It was resolved that the payment of bonus should henceforth be made only on investing shares, that is, subscription shares. Thus ended a procedure that had been followed during a long period of the Society's history. A Minute of the Board Meeting of 29 January 1909 disclosed that our Surveyors in the Huddersfield area, John Kirk & Son, had hitherto been paid on a scale based on the amount of the advance and not upon the figure of valuation. This had been a not uncommon practice in the early days of the movement, but the unfairness and lack of logic of this basis of fees was being recognized by the larger Societies, including our own. It was resolved that in the future the fee collected from the applicant would be based on the valuation, with a minimum charge of 10s. 6d. On 25 March 1909 the Board accepted with regret the resignation of our Agent at Honley. John Thornton, who had represented the Society in that village since September 1902, had been appointed Rate Collector for the district, and was not allowed to follow any other employment. His successor, Percy Charlesworth, was appointed on 5; May. At the following Board Meeting on 20 May 1909, it was resolved that Robert Craig & Son, Accountants, of 20/22 York Street, Sheffield, be appointed our Agents in that city. It would seem that the health and energy of Henry Kaye was restored in 1909 for we may notice that he, and not the Assistant Secretary, accompanied the President to represent the Society at the Annual Conference of the Building Societies' Association. The Meeting was held at Ramsgate. In April 1909 Richard S. Dyson died. He had been a Director since 1895. T'wo months later the Society suffered a further loss, for at the Board Meeting of 17 June the resignation of James Haigh for reasons of failing health was accepted with great regret. At the same meeting it was resolved that Edward J. Bruce, j.p.' and Joseph

1 Edward J. Bruce was a Director of Crowther, Bruce & Co., Woollen Manufacturers, Bank Bottom Mills, Marsden.

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Blamires! be appointed to the Board, and that Lewis be elected Vice-President in succession to James Haigh. From the earliest years of the Society's history the Board had met in the evenings, and it can therefore be said that 1909 was a signifi- cant year of recognition of the ever-increasing pressure on the Directors of the work of the Society, and a move towards present- day procedure. On 15 July it was resolved that from thenceforward the Board Meetings (which it will be recalled had been held fort- nightly since 1907 instead of monthly) would take place at 4.30 p.m. The Agency Sub-Committee continued to be active and successful in extending the operations of the Society into other districts, and at the Board Meeting of 12 August 1909 it was resolved that James Gibson, Accountant, of Regent Street, Barnsley and H. G. Liver- sidge, Accountant, of Main Street, Rotherham, be appointed our Agents in those towns. The Board most properly continued to give the closest attention to the employment of suitable surveyors to report on properties offered as mortgage securities in the new loca- tions of our activity. At the Board Meeting of 7 October 1909, for example, a Sheffield Surveyor, H. L. Paterson, was invited to attend. Only after he had been interviewed and asked to retire to allow the Directors free discussion of his experience and qualifica- tions, was he formally appointed as the Society's valuer for Sheffield and Rotherham. As a sidelight on central property values in 1909 it is of interest to notice that at a Special Board Meeting on 14 October an application for a loan on the security of Britannia Buildings by the owner, T. P. Crosland, was considered. He sought to borrow £12,700 at interest only at 4%. Since 1907, the year when earlier difficulties in finding sufficient outlets for mortgage advances had vanished, the Board had ceased (in general terms) to grant this type of mortgage. In the case of Britannia Buildings and their own landlord, however, they offered to meet the application by advancing £10,000 on interest only for five years and the balance of £2,700 on an ordinary reducing mortgage, 'subject to the Surveyor's Valuation being satisfactory'. In the event, this offer was not accepted by Mr T. P. Crosland. The forty-fifth Annual Meeting of the Society was held on 20 November 1909. The President, Richard Riley, reported a rise in

__ 1 Joseph Blamires was a Director of T. & H. Blamires Ltd, Woollen Manufacturers, Phoenix Mills, Huddersfield.

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assets to over £592,000, with total receipts of over £218,000 and mortgage advances of over {L101,000. The mortgage balances totalled over £569,000, and for the first time for many years the Society suffered the casualty of a single property in possession. It was, in fact, an awkward case in that it was an instalment advance on a property in course of construction, and when £900 had been advanced on our ultimate valuation on architect's plans of £2,740, the borrower was unable to complete the building. High tributes were paid by the President to the work of James Haigh and R. S. Dyson. The two retiring Directors, R. Riley and L. Radcliffe, were re-elected. At the next Board Meeting on 2 December, following the policy of a two-year rotation, Lewis Radcliffe was elected President of the Society and Richard H. Inman, Vice-President. It was resolved that an invitation be sent to the Building Societies Association' to hold the Annual Conference at Huddersfield in 1911, a suggestion that in the event was not to be accepted until 1913. The widow of the late Richard S. Dyson had presented the Society with a portrait of her husband, and it was resolved that this should be hung in the Board- room. The matter of the issue of Paid Up Shares, provided in the new Rules, was discussed at the Board Meeting of 28 January and 24 February 1910, and the Secretary and the Solicitor recommended that sums of not less than £500 be accepted in the first instance at 34$%, and that subsequent additions be in sums of not less than L100. If the money was invested with the Society for less than a year, the interest would be reduced to 3%. At a Special Meeting on 28 Feb- ruary the recommendation was accepted, but subsequent experience showed that the minimum initial figure of £500 was too high, and it was ultimately reduced by stages to £100. In 1910 the Annual Conference of the Building Societies' Associa- tion was held in Bradford. It was resolved on 19 May that the President, Vice-President and Assistant Secretary should attend as the Society's representatives. The year was to be a record in mortgage advances, and as early as 15; June it was resolved that against a background of heavy demands for mortgage accommodation, applications from Agencies in excess of £500 per case should be declined. The complementary need to encourage investments was reflected in the decision on 14 July to reduce the required initial payment in Paid Up Shares to £300. By 6 October 1910 the situation

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was sufficiently acute for the Board to resolve as a matter of tem- porary expediency that no further applications from the Agencies be entertained, an embargo that was in fact lifted in a matter of weeks. The forty-sixth Annual Meeting of the Society was held on 22 November 1910. The President, Lewis Radcliffe, was able to report that the assets of the Society had risen to nearly £670,000, the mort- gage balances having increased by nearly £91,000 during the year to a record figure of over £660,000. The amount advanced during the year was nearly £161,000, an increase of over £59,000 on the previous year. The receipts were nearly £219,000. All this had been accomplished at the expense of only one property in possession and one account over 12 months in arrear. High compliments were justifiably paid and acknowledged, and the two retiring Directors were re-elected. It was proposed, seconded and carried that the Board's fee be increased to £400 free of tax, which was to continue for four years. This is not the place to discuss in any detail the effect of the Finance Act of 1910 upon the Building Society movement. It has been written of it:

The questions which posed the most difficult issues for building societies, and even threatened the calm of directors' boards and annual meetings of societies, were those which arose from what was popularly described as the 'People's of 1909-10, a Budget which set out to raise an addi- tional £16,000,000 in revenue, mainly to pay for dreadnoughts and old age pensions . . . It contained four exceedingly complicated taxes on land values, viz. a development tax of {d. in the £ on the added value realized by the sale of land where this added value resulted from the activity of the community, a 20 per cent. tax on increment value, a reversion duty of 2/- in the £ on the enhanced value of property when it reverted at the end of a lease and a mineral duty of 1/- in the £.

* S. J. Price, op. cit., pp. 357-8. The author added that as a result of these proposals 'the house-property market, which had been in a depressed state, suffered a further decline in values, and building society surveyors told their directors that the times required great care in surveying, and great discrimination in advancing'. This ridiculous piece of legislation proved unremunerative, the assessments were difficult in operation and the whole clumsy and ill-conceived tax structure was repealed in 1920, when such duty as had been collected was refunded. The sheets of the 1/500 edition of the Ordnance Survey, specially enlarged and printed for the purpose of the valuations the Act . envisaged, are now valuable collector's pieces mainly to be found only in the drawing- offices of ancient firms of chartered surveyors such as my own.

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At the Board Meeting of 29 December 1910 a letter from the Rock Permanent Building Society of Newcastle upon Tyne, in which our support was sought in opposing some of the proposals in the 1910 Act, was considered. It was resolved that our Society should co-operate with the Rock Permanent in the matter, and that a letter, to be drawn up by the President, the Secretary and the Solicitor, be sent to the Secretary of the Building Societies' Association. It is to be presumed that this action was an ingredient in the decision to hold a special conference of the Association in London devoted to this single subject, to which our Society was invited to send a delegation consisting of the President, the Vice-President, and the Secretary. The conference achieved some of its objects, for the Annual Report of the Association for 1910, prepared by the Chairman, Edward Wood," and the Secretary, Robert Marsh," contained the following sentences:

This association, throughout its history, has carefully refrained from identifying itself with any political party or organisation, and men of very decisive views on political questions have worked, and do work, together harmoniously on its committee. The Finance Act has not been received by them as the last word in political wisdom, but, it having become law they feel that more good is to be done by courteously calling attention to the unintentional hardships inflicted by it, or defects in its administration as they come to light, than by denouncing it roundly from section 1 to section 96, in season and out of season. Essential modifications have already been secured in its administration, and amendments in certain

! Edward Wood (1846-1930) who succeeded Charles Binyon in 1903 as the Chairman of the Building Societies' Association after serving on the executive committee for sixteen years, was recognized by all as the ablest man of his day in the movement. A mining agent by training, he was soon attracted to building society work, and in 1882 was elected a Director of the Temperance Permanent Building Society, and became its chief executive in 1887. He was appointed a magistrate for Surrey in 1888, and for the County of London in 1889, serving as Chairman of the Wandsworth Bench for 25 years. Wood was an eloquent and convincing speaker and writer, and used his great skill in both these fields for the benefit of the movement with considerable effect. The late Sir Harold Bellman graphically recorded Wood's leadership of a deputation from the Association to protest to the Right Hon. Joseph Chamberlain against certain clauses in the Small Houses Acquisition of Ownership Bill in 1899. 'Edward Wood spoke, and developed the case against the Bill. They had heard many admirable speeches from him, but that speech was a masterpiece. By the time he had finished it was obvious that the Bill would have to be amended. And it was. The danger which threatened building societies was removed'. (S. J. Price, op. cit., p. 341.) * Robert Henry Marsh (1856-1942) was the Secretary of the Building Societies' Asso- ciation from 1888 to 1936.

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96 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

directions are promised, as the result of repeated interviews with the heads of departments and two conferences with the Chancellor of the Exchequer."

At the first Board Meeting in 1911, on 26 January, the final stage of the amendments of the original proposals in regard to Paid Up Shares was reached. It was resolved that the lower limit of the initial investment be reduced to £100, to which sums of £10 and upwards might be added. On 15 March, the Society suffered the loss by death of an old friend and servant, James S. Kirk, the Hudders- field Surveyor. It was resolved at the Board Meeting of 23 March that a letter of condolence be sent to his widow. James Kirk's firm, founded by his father John Kirk, had been the Society's valuers since our establishment in 1864. The remaining partner, Frederick Kirk, James's brother, continued to act for us until his death in 1914. At the Board Meeting of 18 May 1911 a letter from the Secretary of the Huddersfield Incorporated Law Society was considered. This communication complained (a) that our Solicitors' special scale of charges for conveyances and mortgages completed at the same time was too low and (b) that business was being diverted to our Solicitors by undue influence on the part of the Society's Officers. The Direc- tors were asked to receive a deputation to enlarge on these matters. The complaint was dealt with briefly. It was resolved that a letter of reply be sent saying (a) that the scale of charges would not be altered, for this would be at the expense of the members (b) that the charge of undue influence was without foundation in fact, and (c) that the Directors were not prepared to receive a deputation from the Huddersfield Incorporated Law Society. The Minutes do not record any subsequent reference to the matter. At the same meeting it was resolved that the Society would be represented at the Annual

1 Edward Wood's restraint and ironical subtlety with words in this official report are to be admired, for we are fortunate in our awareness of his views on the combination of ignorance and arrogance with which politicians of both the leading parties have criti- cized and interfered with the work of the building society movement from Wood's time to the present day. Wood expressed his opinion on the occasion of the Annual Meeting of the Association held in Huddersfield in 1913, when the members learned with the deepest regret that he proposed to resign from the Chairmanship at the close of the Conference. He said, 'Many of my friends think I am a calm, cool, unemotional man. They are quite mistaken. Numberless nights when I ought to have been sleeping I have been tossing about in my bed chafing at the impossibility of breaking through the crass stupidity of politicians. They not infrequently regard themselves as the very embodiment of the wisdom of the ages, even at a time when they are attempting to legislate upon subjects of which their knowledge is of the most flimsy ancf3 superficial character'. (S. J. Price, op. cit., p. 364.)

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Conference of the Building Societies' Association, to be held at Burnley, by the President, accompanied by W. H. Jessop and the Assistant Secretary. The forty-seventh Annual Meeting of the Society was held on 21 November 1911. The President, Lewis Radcliffe, reported a rise in assets to over £725,000 and receipts that constituted a record in the history of the Society, totalling over £246,000. Mortgage balances had risen by nearly £57,000 to over £717,000. Due to the alteration of the Paid Up Share limits, following the lesson of experience, the receipts in this department had more than doubled, and the balances now totalled over £141,000. High tribute was paid to the memory of James Kirk. The two retiring Directors, J. J. Booth and P. F. Holmes, were re-elected. W. H. Armitage of Armitage and Norton said that the Society was unquestionably one of the best in the country and that no society was better managed, whilst Alfred Sykes said that Henry Kaye had read the notice convening the meeting at every Annual Meeting of the Society, which was well meant if not entirely accurate. At the Board Meeting on 30 November 1911, Richard H. Inman and William H. Jessop were elected President and Vice-President of the Society. At the same meeting a further extension of the Society's investment facilities was discussed. It was resolved that information in regard to 'Home Safes' be obtained for examination at the next Board Meeting, and in the event a Home Safe department was opened, with a preliminary order of 250 such safes at a cost of 3s. 3d. each. A further supply of 250 was ordered on 18 April 1912. On 28 December, 1911 it was resolved that the President, the Vice- President, L. Radcliffe and J. J. Booth form a Sub-Committee to interview the Surveyor, Frederick Kirk, 'with reference to his Valuations, which the Directors consider in several cases are too high'. The meeting took place on 4 January 1912 when Mr Kirk was instructed to bear in mind the following points, the third of which reads oddly in the light of the original criticism:

More information to be given to help the Board to form their opinion of the property. To differentiate between the properties of speculative builders and ordinary purchasers of property as an investment. Valuations to be based on a nett higher rental return, than has been the case up to now.

At the Board Meeting of 25 January 1912, the resignation of Percy Charlesworth, our Agent at Honley, who was removing to

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98 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

Holmfirth, was accepted. A letter from Mr Arthur Smith, offering to open an Agency at Longwood, was considered. It was resolved that the application be accepted, and that the Agency be opened as soon as the necessary arrangements could be made. A pleasant domestic note was recorded in the Minutes of this meeting, when it was resolved that a present of £5 be made to Harold L. Haigh, a clerk in the office, on the occasion of his marriage. 1912, Henry Kaye's last year as the Secretary of the Society, was a period of quiet progress in our affairs. He was evidently in reason- able health, despite his affliction, for happily he was able to accom- pany the President and Vice-President to the Annual Conference of the Building Societies' Association, held in Cardiff on 29/31 May. It was on this occasion that the Association accepted our invitation to hold the Conference in Huddersfield in 1913, a long awaited event that Henry Kaye, sad to relate, did not live to see. The Board continued to interest itself in Agency affairs, and on 16 May resolved to extend the operations of our Marsden Agency by the establishment of sub-agencies at Delph, Saddleworth, and Upper Mill. Mr P. A. Hinchcliffe, a Barnsley surveyor, had applied to act as our valuer in that area, and after he had been interviewed by the President and Vice-President, who declared him to be 'emi- nently suitable for the position', Mr Hinchcliffe was appointed as the Society's surveyor for Barnsley and district on 13 June 1912. On 11 July, following the retirement from practice of H. J. Ward, our surveyor at Doncaster, P. A. Hinchcliffe was also invited to act as our valuer in that town and district. At the Board Meeting of 13 June 1912, the almost perennial question of the terms offered by the London City and Midland Bank was raised, with particular reference to our credit balances. Dis- cussions with the Manager seem to have continued from June to October without any result that satisfied the Board. Finally at a Special Board Meeting held on 22 October 1912, the decision was taken to transfer the whole of the Society's business to the Bradford District Bank Ltd, which offered better terms. It is interesting to reflect that this change resulted in the National Westminster Bank (which as the National Provincial Bank took over the Bradford District Bank) being our principal Bankers today.

1 Mr T. H. Smith was appointed as our Honley Agent on 18 April 1912.

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The forty-eighth Annual Meeting of the Society was held in Huddersfield Town Hall on 20 November 1912. The President, Alderman Richard H. Inman, offered the congratulations of the meeting to his colleague on the Board, Councillor Joseph Blamires, on his election as Mayor of Huddersfield. The President then referred with great warmth of feeling to the work of Henry Kaye. It was said in the printed Report, over the signature of the President:

The Directors profoundly regret that since the last Annual Meeting Mr. Henry Kaye, feeling himself unequal, by reason of advancing years, to the ever increasing duties and responsibilities of the office of Secretary, has asked to be relieved of it. They reluctantly acceded to the request, but are glad to state that they have arranged to retain his services in the interests of the Society." The members will recognize, as the Directors do, that the progress of the Society throughout the long period of over 45 years during which Mr. Kaye has been Secretary, and its present high standing, are largely due to his unwearied devotion and faithfulness to the interests of the members. The Directors have been pleased to appoint his son, Mr. W. H. Kaye, as Secretary in his place.

Henry Kaye was presented by the Directors with a large framed portrait of himself and a silver rose bowl. In his thanks, he said that he would like the picture to be hung in the offices of the Society, in which he had worked for so long. Mrs Kaye was presented with a silver salver and an afternoon tea service. Many sincere tributes were paid to the retiring Secretary, both at the Meeting and in the Press. The Huddersfield Chronicle said:

Mr. Kaye has grown up with the Society from its infancy. He has watched over it with almost parental affection, and has seen the organisation which commenced operations on a very small scale nearly half a century ago grow into a great business concern with a turnover of a quarter of a million annually, and with over 7,000 investing members who, as a result of their experience, have long regarded the Society as a sound organisation in which absolute reliance can be placed. Mr. Kaye always seemed part of the Huddersfield Building Society, and though his son (Mr. W. H. Kaye) who succeeds him, will naturally follow the sound lines laid down by his predecessor, the Directors have exercised a wise discretion in retaining Mr. Kaye's services in the interests of the Society ... We congratulate Mr. Kaye on his long and honourable connection with the Society, and trust that the new arrangement will be beneficial alike to him and to the organisation he has done so much to build up.

! He was appointed 'Actuary of the Society' at a salary of £300 per annum.

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The figures for the year reported by the President were almost an anti-climax, and were in themselves a tribute to Henry Kaye. By a happy coincidence the receipts exceeded a quarter of a million pounds for the first time, being nearly £259,000, whilst the assets had risen to over £772,000 and the mortgage balances to over £742,000. The comparison between the receipts at the beginning and end of Henry Kaye's period of service as Secretary of the Society was made in his obituary in The Huddersfield Examiner of 5 March 1913, the day following his death. It is, however, appropriate to use the words of W. H. Kaye, his son and successor, in the final sen- tences of his address to the Annual Conference of the Building Societies' Association at Huddersfield in May 1913. I paraphrased them in the first paragraph of my account of Henry Kaye, and I offer no excuse for now quoting them verbatiw. W. H. Kaye said:

In conclusion, you will, I trust, forgive me introducing a personal matter. It is interesting to observe that although the Society has been established for over 48 years, except for the first two years the office of Secretary was held by my late father during the whole of its existence until he retired last year, when I succeeded him. He did not enjoy his retirement for long, as he died on 4th March last. When it is considered that his first year's receipts were £9,660.7.11d.,* and the receipts for his last year of office amounted to £258,705.12.2d., it must be admitted that 'his labour has not been in vain'.

* This figure actually included the bank balance brought forward from the previous year of L£239.9.9d.

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William Henty Kaye 1912-28

HEN W. H. KAYE became Secretary of the Society in 1912 he ‘2 s/ was forty years old. It will be recalled that he had joined . the Society as a junior clerk in 1887, and had been pro- moted to Head Clerk in 1895. In the following year he had been admitted to the Board Meetings, and in 1901 he had been appointed Assistant Secretary. His experience and ever-increasing knowledge of the Society's work therefore extended over quarter of a century, and his appointment as chief executive in succession to his father was entirely justified and appropriate. He enjoyed the full confidence of the Board. In the earlier sections of this work the information I was enabled to give in regard to the staff of the Society was limited entirely to very occasional references to employees in the Minute Books, from which some legitimate inferences could be made. I was fortunate enough in regard to the period covered by the present chapter to discover from a Minute in 1912 that in that year W. H. Kaye started a separate Minute Book devoted to staff matters, which has been preserved. We know therefore that the new Secretary commenced his duties at a salary of £700 per annum free of tax, and that his principal assistant was the Managing Clerk, Lewis Blackburn, who received £200 a year. There were six other clerks, ranging downwards from H. L. Haigh at £144 per to W. Lodge, the most junior clerk, at £24 a year. In November 1912, the monthly salaries of the office staff, excluding the Secretary, totalled £56.13.4d. Of the four intermediate employees, I later came to know three extremely well. Frank Nether- wood (a considerable organist) was Chief Cashier when I joined the Society in 1934, whilst Stanley Lockwood" was the Manager of

* It will be recalled that in January 1912, Harold L. Haigh was presented with £5 by the Board on the occasion of his marriage. * Stanley was a fierce, intolerant and completely charming little man, immensely popular with all the staff and part-time agents. We shared an office and were firm friends during the whole six years I spent as the Society's Head Office Surveyor from 1934 to 1939. This was in some ways a surprising alliance, because like most senior building society men of the nineteen-thirties who had started in the movement as boys 'stoking the boilers' (as Stanley typically described what he regarded as part of the essential

101

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Branches. Arthur Lodge (the only survivor, alas, of these three old friends) was our District Manager at Liverpool. The staff was exclusively male. Thanks to another old colleague, A. C. Russell, now retired, who joined the staff in 1927 and ultimately became our District Manager at Stockport, we have available to us a first-hand word-picture of William Henry Kaye at the height of his career with the Society. He was above average height, distinguished in appearance and with prominent features. He wore a pince-nez, and favoured suits of medium grey and a high, white stiff collar. Typically of that period in the movement, neither W. H. Kaye, nor any of his staff, possessed any professional qualifications. ©Chris' Russell tells me that one of W. H. Kaye's impressive traits was to appear wherever help was needed. If, for example, the counter was busy he would be found working among the cashiers. The old heavy Paid Up Share and Deposit Ledgers, leather bound and measuring approximately 30 inches by 18 inches, now curiosities of former days and methods, were his especial pride and they are full of his clear and distinguished writing and figures. The staff was devoted to him, and there can be little doubt that two ingredients in this loyalty and affection were W. H. Kaye's invariable kindness and courtesy, and his readiness to work as hard as any member of the staff. If he required the attention of any employee, the calling of his or her name in the General Office (there were no inter-office tele- phones in those days!) was invariably accompanied by the phrase 'when you've a minute'. At the time of the annual balance and audit (in the absence of mechanical aids) overtime was normal until 11 p.m. each night in return for 'tea-money', and Chris Russell recalls that on one occasion work went on throughout the night. W. H. Kaye himself led these marathon labours, and one remark attributed to

1 A, C. Russell tells us in his essay, 'The Good Old Days' in the first issue of our house magazine, Britannia, that by 1927 the staff had grown to about 25, including 7 ladies.

training I had missed) he was sometimes outspoken in his lack of enthusiasm about the invasion of building societies at that period by chartered accountants and chartered surveyors, who I am sure he regarded in general terms as incompetent and conceited persons. I profited immensely from his wide experience, and I am happy to have this opportunity to pay a tribute to an old and valued friend. When I was appointed to the Board in 1958 Stanley had long since retired and was far from well, but he was one of the first to telephone his congratulations.

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WILLIAM HENRY KAYE, 1912-28 103

him at the time is still remembered. 'If we can dance until 3 a.m. in the morning, we should be just as able to work.' _ Returning to the last months of 1912 and the chronological account of the progress of the Society, on 28 November Richard H. Inman and William H. Jessop were re-elected President and Vice- President. At the Board Meeting of 23 January 1913 a small change was made in the hours in which our office was open to the public. From 1 March the office would be open daily during the week from 9.30 a.m. to 5 p.m. and on Saturdays from 9.30 a.m. to 12.30 p.m. and 6 p.m. to 8 p.m. It will be recalled that the Building Societies' Association had accepted our invitation to hold the Annual Conference in Hudders- field in 1913. The provisional programme was discussed at the Board and Emergency Committee Meetings of 20 and 26 February, and on 10 March it was resolved that the detailed arrangements be left with the President, the Vice-President, Lewis Radcliffe, and the Secretary. At the Board Meeting of 18 March it was resolved that the President, on behalf of the Board, would write to Mrs Kaye offering deep sympathy to her and the family on the passing of Henry Kaye on 4 March, coupled with the Board's high appreciation of the late Secretary's life-long devotion to the Society. At the Meeting of 4 April it was learnt that Edward Wood, the distinguished Chairman of the Building Societies' Association, proposed to retire at the end of the Conference, and it was agreed that we should subscribe towards a Testimonial. A further resolution at the same meeting threw some interesting light on the cost of our Agencies in those far-off days. F. J. Clarke, our Agent in Doncaster, had applied for an increase in his part-time salary. The President reported 'that he had gone into the matter of this Agent's request for an increase of £10 or £15 in his remuneration. After comparing his receipts with those from other Agencies and then comparing the remuneration, he had arranged for Mr Clarke to have an increase of £15, thus making his allowance £40 per year'. On 14, 15 and 16 May 1913 the long awaited Annual Conference of the Building Societies' Association was held in Huddersfield, the Directors of our Society acting as the hosts. It will be recalled that by a happy coincidence a member of our Board, Councillor Joseph Blamires, J.P., was the Mayor of Huddersfield at this time. I repro- duce below from the printed brochure the official programme of the proceedings:

8

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104 HUDDERSFIELD BUILDING SOCIETY, 1864-1928 BUILDING SOCIETIES' ASSOCIATION

PROGRAMME OF PROCEEDINGS

Wednesday, May 14th.

An Informal Reception of Delegates and their Ladies by the Local Committee in the MAYOR'S RECEPTION ROOM, TOWN HALL, from 7.30 to 10 p.m. Morning Dress. Music.

Thursday, May 15th.

io a.m. - ANNUAL MEETING in the TEMPERANCE HALL, PRINCESS STREET, HUDDERSFIELD, under the Presidency of EDWARD WOOD, ESQ., J.P., London, Chairman of the Association.

Paper by Mr. Hodgson, of the Isle of Thanet Permanent Benefit Building Society, Ramsgate, on Forws of Morigage. 1 p.m. - Delegates assemble in the COUNCIL CHAMBER at the TOWN HALL.

Introduction of the Delegates by Mr. ALDERMAN R. H. INMAN, J.P., Chairman of the Huddersfield Building Society. '

Welcome by HIS WORSHIP THE MAYOR, MR. COUNCILLOR J. BLAMIRES, J.P. 1.30 p.m. - LUNCHEON in the TOWN HALL.

Leave for GREENHEAD PARK, where the BESSES O'TH BARN BAND will play from 3 to 5. Afternoon TEA any time from 3 to 5 in the enclosure.

7 p.m. - ANNUAL DINNER in the TOWN HALL (Evening Dress optional). EDWARD WOOD, ESQ., J.P., Chairman of the Association, will preside. Music.

Friday, May 16th.

9.30 a.m. - ANNUAL MEETING continued. Paper by Mr. W. H. KAYE: A Short History of the Huddersfield Building Society. Paper by Mr. A. E. T. HINCHCLIFFE, LL.B. (Armitage, Sykes & Hinchcliffe, Solicitors to the Huddersfield Building Society), on Freeholds and Leaseholds, with particular reference to Building Society Mortgages.

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WILLIAM HENRY KAYE, 1912-28 105

Consideration so far as time allows of subjects suggested by Delegates, of which notice has been previously given to the Association Secretary, Mr. R. H. MARSH.

2 p.m. - Motors leave St. George's Square for a tour on the Moors.

On the way, the Reservoirs of the Huddersfield Corporation will be passed.

5 p.m. - Tea in a Marquee on the Moors. Huddersfield will be reached on the return journey about 7 o'clock.

Earlier in this account of the early years I have quoted from the speech of David Lewis, of Cheltenham, and I think that some further informative comments on the situation of the Building Society movement in 1913 made by him at the Annual Dinner on 1; May are worthy of reproduction:

I was fortunate enough to get the figures of the six leading Societies in this district - the Bradford Second and Third, the Halifax, the two Leeds Societies, and the Huddersfield Society - and I find, sir, that the increase in the assets of these six Societies in the last five years amounts to no less than £2,333,000;, and this, sir, during a period when, to many of our friends, it has appeared as though Building Societies were under a cloud. There is nothing in those figures which would justify such a belief, and I think the Huddersfield Society, as well as the other Yorkshire Societies, may look forward to a period of still greater prosperity. We believe that the best is yet to come, and, as more than one speaker has said this evening, the Building Society movement and work is but yet in its infancy. We remember a number of men who had to do with the founding of Building Societies in this part of the Kingdom. I remember Mr. Binns, of Bradford; Mr. Fatkin, of Leeds; Mr. J. D. Taylor, of Halifax; our friend Mr. Walbank, of Bingley; and Mr. Kaye, who has so ably represented the Huddersfield Society - men who, I believe, went into the Building Society movement, not for what they could get out of it, but with the idea of helping their fellows to improve their conditions, and to raise their intellectual and material status in the world. (Hear, hear.) And, sir, so long as the Building Society keeps this object in view, we may, with confidence, believe that the toast we are asked this evening to drink will be more than realized, especially when we find Societies officered by men such as those

1 Of these four distinguished leaders of the early days of the movement, only the name of Nicholas Hudson Walbank, the Secretary in the Bingley and District Building Society and a member of the Executive Committee of the B.S.A. at the turn of the century, is listed in 'Personalities of the Past' in the current issue of Building Societies Who's Who. This is surprising in my view. Joseph Arthur Binns was the Secretary of the Bradford Third Equitable and a Vice-President of the B.S.A. from 1896 to 1902. Thomas Fatkin was the Manager and Secretary of the Leeds Permanent and Jonas Dearnley Taylor was the first Secretary of the Halifax Permanent Benefit Building Society.

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with whom we have been in contact -the worthy Alderman, whose silvery tones and native eloquence adorn all the speeches he has made today, and the able solicitor, whose exposition of the Land Registry Act at Cardiff last year still lingers in the minds of those who had the pleasure of hearing him. We also find that Huddersfield has been fortunate in securing as a successor to their late Secretary a worthy son of a worthy sire - one who has been brought up in the office, who knows all the conditions of the Society, and whose aim, we believe, will be to justify the confidence that has been reposed in him, and to carry on the work that his late father commenced. (Hear, hear.) Sir, I remember, when I was a great deal younger than I am now, that it used to be the fashion to exhort us young people to attempt to carry on great work, and there was an old illustration that I do not hear much used nowadays. You remember, sir, the illustration that was at one time used of the youth of Sparta - how we were told of the procession that used to pass before the Rulers on Feast Day. First came the old men, who said, 'We have been brave'; then those who were the warriors who said, 'We are brave'; and then the young men who chanted as they passed by:

at our country's call We promise to excel you all."

I am sure, sir, that the best wishes of this meeting will go out to the new and young Secretary of this great Society - (hear, hear) -and that the hope will be felt by us all that the measure of prosperity that has attended the Society in its previous years will be still greater and more marked during the term of office which he has now commenced. (Cheers.)

Our Secretary's paper 'A Short History of the Huddersfield Building Society' consisted of four pages of the printed brochure devoted to the town of Huddersfield and twelve pages about our Society. It was of interest to discover from the first section that the Vice-President of the Society, Alderman W. H. Jessop, j.pr. and a former Mayor, was the Chairman of the Gas Committee and the 'Father' of the Town Council. The President, Alderman R. H. Inman, J.P., was the Chairman of the Sewage Works Committee of the Council. W. H. Kaye's account of our Society from its first beginnings was not intended to be detailed, but contained some interesting figures and not unamusing anecdotes suited to the occasion. T'wo examples of each are sufficient to indicate the style of the Secretary's address:

A Building Society is of incalculable benefit to a town. For instance, during the past three years 964 houses have been built in this town, and of this number 624 houses, of a total value of £165,895, have been erected with the assistance of this Society, which shows very clearly what a - valuable asset the Society is to this town and district in which it operates.

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That a Building Society can also materially help the individual might be shown by numberless cases, but the following example of what has been done by one of our oldest members will be sufficient. He joined the - Society over 46 years ago as a shareholder, and with the money thus saved, purchased, with the help of the Society, his first lot of property. At that time he was earning 24s. a week. He continued buying and mortgaging property, and allowing the rents to pay the subscriptions (always allowing his weekly wage to suffice, without taking anything from the rents) until for many years his repayments for loans amounted to {142 a year. He admits unreservedly that he has to thank this Society for his independence, and he is constantly impressing on others that there is no reason why they should not do as he has done. Speaking of tables reminds me of one of our borrowers (a lady) who, shortly after mortgaging her property, applied for a further advance of £160, and when I gave her the cheque at the completion, she said: 'I wish to pay this £160 off the mortgage, and thus I shall owe that amount less." Gentlemen, we consider that legislation for our Societies as ordered by our sex is not by any means perfect, but if we had -no, I will not continue. For many years the Directors gave their services, and then they received £20, subsequently increased to £25, and then £30, at which figure it remained for many years. This money was spent on a day's outing together, along with their wives ... A rather amusing incident occurred at one of these latter excursions. They had decided to go by wagonette to Dunford Bridge, a favourite place for such excursions, away on the Moors. After they had had tea, and as they were preparing to leave the hotel, the land- lady stopped them, and would not allow even the ladies to go. She charged them with stealing her silver spoons, and then locked the doors and sent for the police. Of course, it is not necessary to state that it was a mistake on the landlady's part, but what a shock it must have given those gentlemen to be charged with such a mean offence, when they had con- ducted the Society's business for 26 years without the loss of a single penny to the Members.

After the Conference was over the Sub-Committee appointed to make the arrangements, consisting of the President, the Vice- President and L. Radcliffe, reported that an examination had been made of the accounts and that the cost to our Society amounted to £L173.17.30. At the Board Meeting of 14 September 1913, the death of C. A. Goodall, our Agent at Marsden since 1903, was reported. It was resolved that a letter of sympathy from the Directors be sent to his widow. On 2 October it was resolved that the appointment of a successor to Mr Goodall be left to W. H. Jessop and E. J. Bruce.

* An honorarium of £30 (out of which £5 was paid to Huddersfield Infirmary) was paid to the Board from 1892 to 1896.

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On 14 October, the two Directors met Frederick Russell of Market Place, Marsden, and agreed that he should take over the Agency on the same terms as Mr Goodall. The forty-ninth Annual Meeting of the Society was held on 19 November 1913. The President, Alderman Richard H. Inman, J.P., reported a rise in assets to over £848,000 and record receipts of over £290,000, the latter being an increase of over £31,000 compared with the previous year. Mortgage balances had risen to neatly £815,000. The President referred to the great success of the Building Societies' Association Conference, and to the deaths of Henry Kaye and C. A. Goodall. The retiring Directors were re-elected. At the Board Meeting on 27 November 1913 Alderman W. H. Jessop and J. J. Booth were elected President and Vice-President. It was resolved that the Secretary's salary be increased as from 1 September 1913 to £800 per annum, with yearly increases of £50 until £1,000 per annum be reached. It was becoming increasingly clear that the Society needed more office space, and at the Board Meeting on 23 December 1913 it was resolved that the Secretary should write to the owner of Britannia Buildings, T. P. Crosland, to say that the Society would be willing to take over the office occupied by the Royal Insurance Company at the expiry of the lease, at the same rent. On 22 January 1914, it was resolved that the President, the Vice-President, and L. Radcliffe form a Sub-Committee to meet Mr Crosland, and this was arranged on 1o February. At the end of an agreeable discussion it was settled that the Society could have the extra accommodation sought, plus the offices it already occupied, without any increase in the rents currently paid, for a new period of 21 years without a break, and with an option for the Society to renew the lease for a further seven years, again without any increase in rent. Mr Crosland's solicitor prepared a draft lease incorporating these arrangements, and it was approved, after slight amendments, on 26 March 1914. During the years from 1910 to 1914, as building societies success- fully pursued their encouragement of thrift and home-ownership, the international situation steadily deteriorated, culminating in the first war against Germany in August 1914. For a short time optimism in regard to an early victory prevailed, and the slogan 'Business as Usual became popular. The raising of bank rate from 3% to 4% on 30 July, to 8% on 31 July and temporarily to 10% on 1 August 1914, however, caused wide disorganization in the financial system. The

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Banks and Stock Exchange were kept closed, by Government edict, for three days beyond the normal August Bank Holiday, and the Government declared a moratorium of a month (extended for two - further months) which ultimately became applicable to all liabilities exceeding £5. The Courts (Emergency Powers) Act, 1914, passed by Parliament at the end of August in that year, made the recovery of debts extremely difficult. Building Society leaders faced the situation with quiet determina- tion and confidence. Most societies re-opened immediately after the Bank Holiday, and refused to take advantage of the Government's moratorium. With the banks closed, the societies paid out reasonable withdrawals without notice, thus providing their members with the cash which they could not obtain from the banks. By this action the building societies relieved the anxiety of their members, and helped to restore public confidence generally. By midsummer 1915 this was almost wholly accomplished. How did our Society fare? Since our financial year-end was 31 August, our 5oth year of operations was only minimally affected by the War. The Minutes of the Board Meetings between the end of the financial year and the Annual Meeting, moreover, showed only occasional indications of changing conditions. At the Board Meeting of 1 October 1914, for example, it was noted that one of our Auditors, G. P. Norton, had been called to active service. It was resolved that W. H. Hughes, of Armitage & Norton, be appointed in his place. It was also resolved that as one of our clerks (the first of half our staff) had left us for the same reason, a replacement be engaged. At the same Board Meeting, the Society suffered a loss not attribut- able to the War in the news of the death of Frederick Kirk, our Huddersfield Surveyor, and the last survivor of the old firm of John Kirk & Sons, who had served us faithfully as Valuers since 1864. A Special Board Meeting was held on 5 October 1914 to appoint a new Surveyor. Out of six applications, it was resolved 'that Mr John J. Booth (of the firm of Eddison, Taylor & Booth) be appointed Valuer for the Society, and accordingly ceases to be a Director. The appointment is to be subject to six months' notice, and in accordance with an agreement to be drawn up by the Society's Solicitors'. At the Board Meeting of 29 October 1914, it was resolved that the mortgage rate be forthwith raised to 412% for all advances, an inevitable result, it may be thought, of the general increase in interest rates. The Directors were still thinking in terms of enlarged

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representation and progress, however, for at the same Board Meeting the question of opening an Agency at Cleckheaton was discussed. The fiftieth Annual Meeting of the Society was held on 18 Novem- ber 1914. The President, Alderman W. H. Jessop, reported that the Society's 'Jubilee Year' had been the most successful in its history. The assets had risen to nearly £922,000, with record receipts of over £337,000, an increase of over £47,000 on the previous year. Mort- gage balances were over £898,000, with only one property in posses- sion and no arrears cases in excess of twelve months. The two retiring Directors were re-elected. The Board was voted an increased honorarium of £500 free of income tax.! The Huddersfield Examiner commented:

There is a great amount of satisfaction to be obtained from the success of institutions which enable thrifty people to build up their own position and the stability of the country. Especially is this the case when these institutions, at a time when the black shadow of war might have led observers to expect a great falling off in their prosperity, are seen to be holding their own and even making advances in soundness and strength. The year's results of the working of the Huddersfield Permanent Benefit Building Society, as indicated by the report presented at the annual meeting on Wednesday evening can give rise only to the most satisfactory reflections. We must refer our readers to the report of the meeting for the figures, but on those figures [we] may remark that they show the Society, after all the progress of the recent years, to have had still another record year. It is a remarkable fact that the receipts at the present time, when war is upon us, are a thousand pounds a week more than they were last year. In ten years the Society has almost doubled its operations, and it is a fact worthy of note that the withdrawals since the war commenced are con- siderably less than they were during the same period last year, when our country was enjoying the blessings of peace."

At the Board Meeting of 27 November 1914, W. H. Jessop was re-elected President. Following the resignation from the Board of John J. Booth on his appointment as Surveyor, T. H. Moore was elected Vice-President in his place. The President reported that he and the Secretary had interviewed George B. Hartley of Cleckheaton,

* This increased honorarium was to continue for four years. * It is of interest to consider the last sentence against the comment of one authority on the fate of the movement as a whole at this time. 'The balance sheets of most societies showed that during the first seven months of 1914 they had experienced their usual progress, advances having been in excess of the amount advanced in the corresponding period of the preceding year, while the receipts on shares and deposits were substantially larger than the withdrawals. The outbreak of war changed all, and the last months showed heavy withdrawals, a decline in mortgage advances, a reduced investment income, and depression in the house property market'. (S. J. Price, op. cit., p. 369.)

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and had appointed him as our Agent in the Spen Valley, the remuneration for the first three years to be £40, £45 and £50 per annum. On 23 December the effect of the general rise in interest rates was again demonstrated by the decision to offer 4%, interest on a new 'Class C Share for sums of £1,000 and more, to be invested for a minimum of three years. At the first Board Meeting in 1915, on 22 January, Arthur E. Walker was appointed a Director of the Society in place of John J. Booth. In March, Richard Riley, one of the most senior Directors, had the great misfortune to lose his wife, and became ill as a result. The Directors expressed their deep concern for him at the Board Meeting on 19 March, and an appropriate letter was written. Happily, Mr Riley was able to attend the next Board Meeting on 16 April 1915. At the same meeting a resolution was passed, resulting from war conditions, which foreshadowed a significant change in the com- position of the staff in the years to come. The President and the Vice-President had released two more of the clerks for active service and had temporarily engaged two ladies in their place. The Board approved the action. For the first time in the history of the Society the tradition of an exclusively male staff had been broken. At the same meeting a further resolution indicated the inevitable decline in mortgage applications due to the War. It was decided to invest £25,000 in Huddersfield Corporation at 4% for six months, and afterwards at one month's notice. Further effects of the War were evident in the Minutes of the Board Meeting of 14 May 1915. It was reported that no Annual Conference of the Building Societies' Association would be held in 1915. The Secretary explained, moreover, that the usual practice of handing out the Annual Statements to members would not be possible due to the absence on active service of members of the staffs of both the Society and the Auditors. It was resolved that in this situation all the State- ments would be sent by post. Authority was given for the engage- ment of a third lady clerk. More difficulties became evident at the Board Meeting of 11 June. The Solicitor reported that several actions against borrowers in arrear had resulted (as a result of the Courts (Emergency Powers) Act, 1914) in the Court merely ordering the arrears to be added to the debt. Despite the loan to Huddersfield Corporation our bank balance continued to grow, and it was resolved to move £10,000 to a Deposit Account.

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Interest rates continued generally to increase, and at the Board Meeting on 6 August, it was decided to continue to charge 44% to occupier-borrowers' but to charge in all other cases. On 3 Sep- tember 1915, a letter was considered from our Doncaster Agent on the subject of his remuneration of £40 per annum against a back- ground of rising costs and of his receipts of £6,000 a year. The President and Vice-President were empowered to settle the matter, and Mr Clarke's fee was doubled to £80 per annum. Increased running expenses were also evident in a cheque drawn on 29 October 1915 for £108.18.4d. in respect of one month's office salaries, com- pared with £56.13.4d. in 1912. On the same date it was resolved that because of War conditions the office would be closed at 4 p.m. instead of 5 p.m. until further notice. The fifty-first Annual Meeting was held on 17 November 1915. The President, Alderman W. H. Jessop, was indisposed and the Chair was taken by T. H. Moore, J.r. The assets had risen to over £961,000, with mortgage balances of over £912,000, the unusually wide gap being accounted for by the reserve fund, the loan to Huddersfield Corporation and a large bank balance. Receipts had receded minimally to nearly £332,000. It was, it may be thought, a remarkable performance after over a year of war, when to the figures recorded are added the facts that the number of shareholders had increased during the year from 8,913 to 9,521 and the Society had successfully sold its only property in possession. Mr Moore reported that five members of the office staff were now on active service, and that their places would be held open for them pending their return. Everything that was possible to make their minds easy had been done. The retiring Directors were re-elected. At the Board Meeting on 26 November 1915, T. H. Moore, j.p. and E. J. Bruce, j.r. were respectively elected President and Vice- President of the Society, following the agreed procedure of a two-year rotation. The question of the large and constantly increasing bank balance and dearth of mortgage applications was discussed, and it was agreed to consider a further reinvestment. As a result, on 34 December £15,000 was deposited with the Union of London and Smith's Bank at 44%, free of tax for not less than three months and subject to 28 days' notice. On 28 January 1916 a further £15,000 was

* It is noteworthy that as from 23 November 1915, the loan to Huddersfield Corpora- tion of £25,000 was renewed for six months at an increased interest rate of 44% , identical with that paid by occupier-borrowers.

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invested with the same bank on the same terms, and our Deposit Account with our Bankers was increased to £50,000 at 4%$% with effect from 1 January 1916. The War was again in evidence at the Board Meeting on 18 Feb- ruaty 1916. The Secretary reported that he had discussed with the President the advisability of asking each Borrower to insure against damage by aircraft. It was resolved that this should be done, and that the Secretary should arrange with our Insurance Company to keep all the mortgaged properties covered as an interim measure. A Minute at the same meeting was both written and signed by the President and read as follows: As Chairman I mentioned the long hours now being worked by the Secretary and the consequent strain upon his health. It was unanimously resolved that he should be instructed to take one extra afternoon per week

for outdoor recreation. The Secretary was informed and instructed accordingly. (Signed) T. H. Moore.

Arthur Smith, the Society's Agent at Longwood, had offered his resignation on account of ill-health in February 1916. On 14 April, it was resolved that he be replaced by Abraham Brook at a salary for the first three years of £25, £30 and £35. A Special Board Meeting was called by the President on 15 Sep- tember 1916, to give urgent consideration to the Society's now large investments. Our Deposit Account with our Bankers, the Bradford District Bank, now amounted to £70,000. The Bank was willing to pay us an increased interest rate of 5%, free of tax, and it was resolved that this be accepted. We had £30,000, it will be recalled, invested with the Union of London and Smith's Bank, who offered to raise the rate to 4$%, free of tax, subject to bank rate remaining at its present level of 6%. These terms were also accepted. On the other hand, whilst the Huddersfield Corporation was paying us 5% on our investment of £25,000, this was subject to tax, and it was resolved that the required one month's notice be given to withdraw the whole amount. It was resolved to invest in £70,000 of twelve months' Treasury Bills (purchase price £65,800) in the names of the President, the Vice-President and the Secretary. These large dealings in our surplus funds were augmented on 29 September by a resolution to purchase £25,000 worth of six months' Treasury Bills (purchase price £24,314.6.6d.) in the same three names. Amid all this necessary financial activity brought about by the War, which had so greatly reduced our normal business of mortgage

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lending, the Society continued to look to the future. At the Board Meeting of 24 November, the question of establishing an Agency at Wallasey was discussed. The fifty-second Annual Meeting of the Society was held on 29 November 1916. It was an historic occasion, for our assets had passed the milestone of a million pounds. The actual figure, as reported by the President, Thomas H. Moore, was nearly £1,106,000, with record receipts of nearly £414,000, an increase of over £82,000 on the previous year. On the other hand, as a result of the decline in lending, the gap between our total assets and our mortgage balances, represented mainly by our investments and cash, was more than £197,000. The President was reported by The Huddersfield Examiner of 30 November 1916, as saying:

Members would notice that the Society had no properties in possession, and no borrowers twelve months in arrear. Other building societies saw copies of our reports, and as we were on friendly terms with our com- petitors, if he might so call them, we had received a number of con- gratulatory letters, entirely unsolicited. He would quote one as an example of the rest. The Secretary of a large building society in the north of England had said, 'It is just about as sound a balance-sheet as I have seen, and I consider it very remarkable that a society of the dimensions of yours should be absolutely free of properties in possession'.

At the Board Meeting on 22 December 1916, T. H. Moore and E. J. Bruce were re-elected President and Vice-President. A letter was read from Richard Riley tendering his resignation from the Board after nearly twenty-two years as a Director. It was resolved that a letter be written to him expressing his colleagues' appreciation of his long service to the Society. The Secretary reported on a visit to Wallasey in connexion with our proposed Agency in that town. He recom- mended the appointment of C. B. Collinson & Son, Accountants, of 4 Church Street, Wallasey, and it was agreed after an interview at Huddersfield on 2 February 1917, with the President and three Directors, that this firm should become our Agents, at a commencing salary for the first three years of £40, £50 and £60 per annum. At the first Board Meeting in 1917, on 19 January, the Directors resolved that our Bankers be instructed to invest £50,000 in the New War Loan on the instalment system. As a complementary arrangement, it was resolved on 16 February that notice be given to

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the Union of London and Smith's Bank Ltd to withdraw our invest- ment of £30,000 (plus interest), to be placed to the credit of our Bank account. Interest rates continued to rise, and on 16 March 1917 the Board resolved that in the Paid Up Share Department 44%, would be paid free of tax to both new and existing members with accounts of £250 and upwards. It was also resolved that the mortgage rate for occupier-borrowers be increased to 423%, and to 5% for all other borrowers. Costs were also rising, and by April 1917 the monthly salaries of the staff totalled £136.8.4d. The War continued to have its effect, and in 1917 the Minutes contained many resolutions that mortgagors in difficulties be allowed to pay interest only 'for the duration'. In May the son of Arthur E. Walker, j.r., a member of the Board, was killed in action. The Society still looked to the future, however, and at the Board Meeting on 31 August 1917, it was resolved that the President, L. Radcliffe and W. H. Jessop form a Sub-Committee to arrange the alterations and extensions of the offices, consequent upon the extra accommoda- tion having been obtained in Britannia Buildings. The fifty-third Annual Meeting of the Society was held on 27 November 1917. The President, T. H. Moore, 3.p., reported a rise in assets to over £1,153,000 and a new record of receipts of over £422,000. Mortgage balances, which had risen modestly by nearly £27,000, totalled over £935,000, the remainder of our assets being almost wholly represented by some £218,000 of investments and cash in the Bank. The President said that when members wished to withdraw money to invest in War Loan, the normal notices had been suspended. The Society itself had invested £50,000 in this way. The retiring Directors were re-elected. At the Board Meeting of 19 December 1917 Percy F. Holmes was elected President, E. J. Bruce remaining Vice-President. It would seem that strict seniority was followed as regards the election of the President. P. H. Holmes had joined the Board in 1907, two years before the appointment as Directors of E. J. Bruce and J. Blamires.* Local 'Tank Weeks' were in vogue at this time to encourage investment in 5%, National War Bonds repayable in 1923, and at the suggestion of our Agent in Doncaster the Society invested £10,000 in this way during the Doncaster 'Tank Week', which was 22-29 April. A sign of better times to come was indicated by the renewal

* E. J. Bruce was to be the next President.

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in a subdued fashion of the Annual Conference of the Building Societies' Association for the first time since the beginning of the war. It was a two-day meeting in London on 23-24 May 1918, and was attended only by W. H. Kaye as the Society's representative. Money continued to flow plentifully into the Society (our total receipts for the year were to be an all-time record of over £600,000) and on 7 June 1918 it was resolved that we should invest no less than £200,000 in 5%, National War Bonds repayable in 1923. As early as February 1918 the question of preparing revised rules had been discussed, and our Solicitor had been given preliminary instructions in the matter. A controversial point was a proposal that the Board should be empowered on occasion and at its discretion to employ what the Minutes termed 'outside Valuers', if such 'outside Valuers' introduced business to the Society." At the Board Meeting on 5 July 1918 the matter (which had clearly become an issue) was fully discussed, following a proposal by the President, Percy F. Holmes, that the Board should be given such power. The resolution was carried on a majority vote, L. Radcliffe dissenting and R. H. Inman remaining neutral. It is the first Minute I have discovered in a period of fifty-four years recording a disagreement between the Directors. The meeting ended, however, on a pleasant domestic note, with everyone in complete accord. In 1917, when he was President of the Society, T. H. Moore had suffered the cruel misfortune of the death of his wife. At the close of the meeting of 5 July 1918, Percy F. Holmes, 'on behalf of the Directors and Secretary, had the pleasure of handing to Mr Moore a silver rose bowl! (on the occasion of his marriage) as a slight token of their esteem and regard for him'. The Society continued to support the war effort. On 10 July 1918 it was resolved to invest a further £25,000 in War Loan during War Weapons Week, and £5,000 in support of Aeroplane Week at Honley. The Directors learnt with sadness on 30 August that Stanley Wilkinson, one of our clerks on active service, had died of wounds in a French military hospital. A letter of condolence was written to his parents. On a happier note, on 27 September his colleagues were able to congratulate Alderman W. H. Jessop on being made a Freeman of the Borough of Huddersfield. At the Board Meeting on 1 November 1918 the Directors discussed the proposed new Rules, which were generally approved after some

* The expression referred to Surveyors other than those appointed to act for us regularly, such as John J. Booth.

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amendments. A Special Board Meeting was called on 8 November to record the great loss to the Society by the death on 5 November of Alderman Joseph Blamires, J.r., who had been a Director since 1909. At the same meeting it was resolved that the Society should support the 'Feed the Guns' week in Doncaster by a further invest- ment of £10,000 in National War Bonds. A similar amount was invested on 22 November in support of a similar 'Feed the Guns' week in Meltham. The fifty-fourth Annual Meeting of the Society was held on 28 November 1918. The President, Percy F. Holmes, j.r., referred with feeling to the death of Alderman Joseph Blamires. The assets of the Society now totalled over £1,441,000, whilst the receipts were over £607,000, an increase of nearly £185,000 over the previous year. Mortgage balances amounted to nearly £980,000, the difference between this figure and the total assets being mainly the Society's large holding of War Loan and Bonds of £400,000, which the Chairman announced would be increased by a further £50,000 in the coming week. The Society had only one property in possession. The President announced that under the new Rules the name of the Society would in future be simply "The Huddersfield Building Society'. The retiring Directors were re-elected, and the Board was voted an increased honorarium of £1,000 free of tax." At the end of the Annual Meeting a Special Meeting was held to obtain the approval of the members to the revised Rules, which had been on deposit at the office for inspection. The alterations were brief and simple, and were passed unanimously. Rule 1, as I have fore- shadowed, said that 'The name of the Society (which was established in the year 1864, under the title of the Huddersfield Equitable Permanent Benefit Building Society) shall be "The Huddersfield Building Society'". Its chief office shall be at St. Peter's Street, Huddersfield, in the County of York, or at such other place as the Directors shall from time to time determine'. Rule 111 said that the Annual General Meeting would in future be held in March, the reason being that it was the intention to make the Society's financial year end 31 December. Rule v said 'The Seal of the Society shall bear the name of the Society and the device of the coat of arms of the County Borough of Huddersfield'. Rule xix provided that the

* The Board's fee year by year is tabulated in Appendix XII. After the War more frequent alterations were made.

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Board would consist of not less than seven nor more than nine Directors including the President and Vice-President. At the Board Meeting on 20 December 1918, Percy F. Holmes and Edward J. Bruce were respectively re-elected President and Vice- President. At the first meeting of the Board in 1919, on 17 January, a letter was read from the Bradford District Bank Ltd, informing the Society that our Bank had now amalgamated with the National Provincial and Union Bank of England Ltd, and that our account would continue under the same terms and conditions as before. A letter from our Doncaster Agent, F. J. Clarke, was considered, suggesting that the Society open an Agency at Scunthorpe, under his management. It was agreed that the Secretary should visit Scunthorpe, and report back to the Board. On 31 January 1919, it was resolved that Horace Broadbent be invited to become a Director of the Society in place of the late Alderman Joseph Blamires, The Secretary reported on his journey to Scunthorpe, and it was resolved that the Society's first post-war Agency be established there under F. J. Clarke, the arrange- ments to be left with the Secretary." At the Board Meeting on 28 February 1919 a letter was read from a Solicitor in Scunthorpe, a Mr Symes, which foreshadowed events in future years. Mr Symes said that unless Solicitors willing to introduce applications for mortgage were allowed to act for the Society 'all through', business could not be expected from the legal profession in Lincolnshire. It was resolved that in the circumstances Scunthorpe solicitors introducing applications be allowed to act for the Society, subject to the Title being found satisfactory by Armitage, Sykes & Hinchcliffe. On 11 April 1919 the Secretary suggested that as a matter of policy and where possible, new Agents should be Surveyors and Estate Agents, since what was required was mortgage business. This was good advice and one wonders why so many of our early Agents were accountants, since in those years we only infrequently

* Horace Broadbent was a Director of Thomas Broadbent & Sons Ltd, Engineers, Central Ironworks, Huddersfield, and the father of my friend and co-Director, Brian Broadbent, a former President of the Society. * The end of the war and the anticipation of a steady expansion of the Society's activities also meant the recruitment of new staff, as well as the return to Huddersfield of those who had fought for King and country. Looking over the old Staff Minute Book of those immediate post-war years, it was of the greatest interest to me to see the names of Tom 'Willy' Brook, Leslie Barrow, Norman Brook, and Harold Dransfield, all of whom joined us about that time and whom I came to know extremely well.

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experienced difficulty as regards our investment intake. However that may be, it was resolved that T. Turnbull & Sons, a firm of Estate Agents of repute with an office at 88 Mosley Street, Man- chester, should be appointed as our Agents in that city. At the Board Meeting on 23 May the question of the alteration in our financial year was discussed. The Secretary reported on his correspondence with the Chief Registrar, who had suggested that the new arrangement should run from 1920, with an additional four months of operations and a consequent Annual General Meeting after sixteen months of trading in March 1921. It was resolved that this recommendation be accepted and that 1919 would therefore be our last financial year ending on 31 August. On 12 and 13 June 1919 the President, Vice-President and the Secretary attended the Annual Conference of the Building Societies' Association at Cheltenham. Both our staff and their salaries continued to increase, and the monthly cheque approved at the Board Meeting on 26 September 1919 amounted to £285. The Society had received a letter from the Huddersfield Incor- porated Law Society on the subject of the Society's 'Scale of Charges at present in force for Conveyances and Mortgages as they are of the opinion that the same is now inadequate by reason of the great increase in office and general expenses'. The matter was considered by the Board on 10 October, and the following Minute was recorded:

The Secretary reported that he had made further enquiries, and in cases where the Solicitors introduced the business it was left to them to make their own charges as regards the Conveyance or Assignment. Resolved that the Solicitors be allowed to do this where they introduce the business to the Society. Regarding the other items in the letter, the reply be in the negative.

At the Board Meeting on 7 November 1919 it was resolved that the minimum rate of interest to be charged to new borrowers be 54% for advances up to £1,000, and 54% for advances over £1,000 and not exceeding £2,000. Applications in excess of £2,000 were to be treated as inquiries. It was also decided that 4$% interest be allowed on Paid Up Share accounts of £1,000 or more. Our Doncaster Agent had died suddenly early in November 1919, and at the Board Meeting on 21 November it was resolved that Mr Clarke's partner, F. Mahon, be appointed in his stead. At the same meeting the mortgage rate for all new advances not exceeding £2,000 was fixed at It was also resolved on this date that the

9

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future tenure of office of the President would be one year instead of two. The fifty-fifth Annual Meeting of the Society was held on 27 November 1919. The President, Percy F. Holmes, reported a rise in assets to over £1,880,000, and greatly increased mortgage balances totalling nearly £1,205,000. The bulk of the remaining assets was represented by the Society's large investments in War Bonds repay- able in 1923. Fortunately for our mortgage lending, the receipts for the year constituted a new record of over £869,000, an increase of £262,000 on the previous year. The Society had one property in possession, and no arrears cases over twelve months. The retiring Directors were re-elected. In December 1919, it became increasingly obvious that the Society had invested so much money in 1923 War Bonds in its support of the war effort that our ability to meet the post-war mortgage demands made upon us was being seriously impeded. It is a duty and a pleasure to record that the Bradford Second Equitable Building Society willingly offered to help us out of this temporary embarrassment by providing us with £50,000 for a minimum period of three months at 5%. We deposited a certificate for £70,000 worth of 1923 War Bonds with that Society as security. This circumstance was recorded in the Minutes of the Board Meeting of 19 December, at which it was also resolved that Percy F. Holmes should continue in office as President until the end of March. At the Meeting on 19 January 1920, cheques totalling nearly £32,000 were drawn in respect of mortgage applications, which indicates the level of lending at this time. At the Meeting of 16 February the corresponding amount was over £53,000, including Further Advances. On 1; March 1920, it was resolved that the rate of interest in the Paid Up Share department be increased on a sliding scale to a record interest rate of 5%, free of tax for amounts over £3,000. At the same meeting it was resolved temporarily to reduce mortgage demands by taking no applications at our Agencies. These corrective measures had their effect, and on 29 March we were able to record our repay- ment of the temporary loan of £50,000 to us by the Bradford Second Equitable Building Society in December, coupled with our sincere expression of thanks. At the same meeting E. J. Bruce and L. were elected President and Vice-President. A coming event cast its shadow at the Board Meeting of 12 April 1920. It was resolved that the President, the Vice-President, W. H.

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Jessop and P. F. Holmes form a Sub-Committee to discuss the pur- chase of Britannia Buildings. On 17 May it was reported that the owner, T. P. Crosland, had said 'that unless the Directors would give him his price, that is £36,000, it was no good going into the matter'. It was resolved not to proceed further at that time, but as some years later a bargain was concluded, I think it right that the Board's early interest in so important a milestone in our history should be recorded. Turning to a matter which was by now almost routine, the Secre- tary reported on 19 July 1920 that he had received a letter from the Huddersfield Incorporated Law Society asking the Directors to receive a deputation to discuss the question of fees. It was resolved 'that a letter be sent stating that as the Board had no intention of altering the Scale of Charges, they considered that no useful purpose would be served by receiving a Interest rates continued to rise, and on 20 August 1920, the Society raised its mortgage rate to new borrowers to 64%. On 9 September, after advice from our Bank Manager, the decision was taken to convert as necessary sections of our War Loan into Bearer Bonds, for which cash could more readily be obtained, and this procedure was commenced by a resolution on 13 September that £20,000 of War Loan should be so converted. A complementary decision taken at the same meeting was to allow our Doncaster Agency to start lending again with a preliminary limit of £1,000 per month. On 20 September it was resolved to convert an additional £30,000 of War Loan to Bearer Bonds. On 8 September there was a further amelioration of the restricted lending policy. It was, however, at a price. It was resolved 'that a limited number of applications for advances up to £500 from the Agencies be entertained at 7%. Favoured treatment was still extended, however, to applications in the Huddersfield area, where the rate remained at 64%. It was of great interest to me to see that on 31 January 1921, an application for £5,600 by Thomas L. Ramsden on a 'Leasehold Residence known as Broomfield, Fixby, was con- sidered. Broomfield was subsequently the home of the late Andrew Stewart for all but a few years of his whole period in Huddersfield. I had the privilege of preparing a report, valuation and plan of the house for him in the 1930s, and in the later years of our friendship of nearly forty years I spent many pleasurable hours at Broomfield.

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The Secretary's suggestion that where possible new Agents should be Surveyors, Valuers and Estate Agents was followed at Southport, where Ball & Percival of 132 Lord Street were appointed to repre- sent us. Soon after becoming our Agents at the beginning of 1921 this firm introduced to us a Manchester organization known as the Equitable House Property Co. Ltd, trading in mortgages and insurance. A suggestion that we might purchase the company was declined by the Board. The fifty-sixth Annual Meeting of the Society was held on 31 March 1921. The Report and Accounts covered a period of sixteen months from 1 September 1919 to 31 December 1920. The President, E. J. Bruce, reported a rise in Assets to over and mort- gage balances of nearly £2,000,000. Receipts had risen to nearly £1,575,000 over the extended period. Since the last Report the Society's only property in possession had been sold with an excess of L435. The Huddersfield Examiner of 2 April 1921, reported:

The President, in moving the adoption of the Report said it was the most successful the Society had ever put before its members. Building societies were now firmly established and were a great national asset, as they tended to stability, kept down extravagance and promoted economy in living. The advantages the Society offered were appreciated both in the town and the country.

The retiring Directors were re-elected, and at the next Board Meeting Lewis Radcliffe and Richard H. Inman were elected Presi- dent and Vice-President. On 26 August, Alderman William H. Jessop died. The President and Vice-President, supported by T. H. Moore, E. J. Bruce, the Secretary, Solicitor and Surveyor represented the Society at the funeral. The following tribute was included in the Annual Report:

The Directors have, with very deep regret, to report the loss of one of their colleagues, Mr. Alderman W. H. Jessop, j.r., who was appointed a Director on 15; December 1899,' and had served the Society with marked ability for nearly twenty-two years. His sound practical knowledge and unfailing genial and kindly nature will long be remembered not only by his fellow Directors, but by all who came in contact with him.

The spring and summer of 1921 had showed an easing on the restrictions that had been necessary on lending," and applications

1 W. H. Jessop was in fact appointed a Director on 17 November 1899. * Bank Rate fell from 7% to 5%% in August.

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from our Agencies were now received without embarrassment. On 12 September 1921, for example, substantial advances were approved on properties at West Derby, Sheffield, New Brighton, Sutton, and Carshalton. At the same Board Meeting it was resolved that we sell £60,000 worth of 1923 5% National War Bonds at roof, which with interest less brokerage, increased our Bank Balance by £60,376.13.3d. At the Board Meeting on 7 November I921, the mortgage rate was reduced to 6% to local occupier- borrowers on advances not exceeding £1,000 and 64%, in all other cases, with effect from 1 January 1922. In November 1921, our Agent at Cleckheaton, G. B. Hartley, had died suddenly. At the Board Meeting on 16 December, it was reported by the Secretary that A. France & Co., Accountants, of Leeds had acquired our late Agent's business and wished to continue our representation in the Spen Valley area. It was resolved that A. France & Co. be appointed on the existing terms." At the first Board Meeting in 1922, on 2 January, the Board approved the action of the President in allowing £30 to be divided among the staff at Christmas. A further measure of goodwill was demonstrated in the matter of Harold L. Haigh, a married clerk in the office whose name has been mentioned before in these annals of our Society. Haigh had been guilty of insubordination to the Secretary and discharged from our service. It was properly decided that he could not be reinstated, but in recognition of his twenty years work for the Society a grant of £100 was made to him. At the same meeting the Directors were shown our Coat of Arms, mounted and in oxydized silver at a cost of £3.3.0d., to be hung in the Board Room. The trend of reduced interest rates continued. At the Board Meeting on 30 January 1922 it was resolved that 6%, be charged on all advances to occupier-borrowers, both locally and at the Agencies. On 21 February the Secretary reported that the National Provincial and Union Bank had reduced the rate of interest on our Deposit Account from 44% to 4% from 16 February, the date of the reduc- tion of Bank Rate to 4%. The fifty-seventh Annual Meeting of the Society was held on 21 March 1922. The President, Lewis Radcliffe, in moving the adoption of the Report, said that notwithstanding the considerable

1 A. France & Co. subsequently became our first Agents in Leeds.

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depression in industry, the Accounts were the most satisfactory in the history of the Society. Assets had risen to over £2,710,000, and the total receipts exceeded £1,186,000. Mortgage balances had risen to nearly £2,337,000. Over £115,000 stood to our credit at the Bank, and our investments, although being steadily reduced from the abnormal figures at the end of the war, were still large. We had no properties in possession. The President paid a moving tribute to the memory of Alderman W. H. Jessop. The retiring Directors were re-elected. At the Board Meeting on 27 March 1922, following the agreed procedure of yearly rotation, Richard H. Inman and Percy F. Holmes were elected President and Vice-President of the Society. At the same meeting an important financial decision was taken on the advice of our stockbrokers, Robert Ramsden & Co., and our Bank Manager. We still held £250,000 worth of 5% National War Bonds, repayable in 1923 at 102 as against their worth of 103 in March 1922. It was resolved that this investment be transferred to £150,000 5% National War Bonds 1929 and £100,000 5% War Stock 1929-47, the profit on the transaction amounting to £7,869.7.6d. It was also decided at the same meeting that the President, the Vice-President, L. Radcliffe, and the Secretary would attend the Annual Conference of the Building Societies' Association at Margate on 7-9 June. As the year 1922 advanced, interest rates continued to fall, and in consequence it was resolved on 24 April that 54% be charged on new advances to occupier-borrowers not exceeding £1,000. On 1 May the National Provincial and Union Bank reduced our Deposit rate from 4% to 3$%. On 19 June it was resolved that mortgage rates would be reduced in the case of local occupier-borrowers to 59%, up to £1,000 and 54% over £1,000. Advances at our Agencies would be at 54% up to £1,000 and at 54%$% for larger sums. At a Special Board Meeting on 5 July the Directors interviewed R. J. Speechley, Accountant, of Penthyn Road, Colwyn Bay, who was appointed our Agent in that town." '

! This appointment was a departure from the inclination at this period to choose Estate Agents, who could introduce mortgage business more easily than Accountants. The late R. J. Speechley (whom I knew) was, however, a most successful representative of the Society in North Wales, and his successors are still our Agents in Colwyn Bay today. It was a great pleasure to me, and a link with the past, to have Mr Gerald Speechley (the son of our former Agent), sitting at my right hand at a luncheon at Xgich I1 presided on 1 November 1973 to celebrate the opening of our District Office in ergele.

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At the Board Meeting of 14 August 1922 a letter was read from T. P. Crosland, offering to reduce the price of Britannia Buildings to £35,000. The total net rental was stated to be £1,640. It was resolved that the price was still too high, and that a letter be sent to Mr Crosland stating that the Society was willing to discuss purchase at 'a fair market price'. As early as 30 March 1922, James Burns, an Estate Agent and Valuer, of 5 Birley Street, Blackpool, had been referred to in the Minutes as 'Mr. Burns our Blackpool Surveyor' in connexion with an application for £25,000 on properties in Talbot Square, Blackpool, which was granted on the basis of Mr Burns's valuation of £45,000. For some reason the date upon which James Burns's employment by the Society was extended to that of Agent is not recorded, but by 29 January 1923 he was described without ambiguity as our 'Black- pool Agent' in connexion with an advance of £16,000 on a shop property in Talbot Square, Blackpool 'on his valuation of £25,000. It would seem from this that Mr Burns was acting in the dual capacity of Agent and Surveyor in Blackpool. Such an appointment, which at Buxton a few years later helped to make possible the fraudulent conduct of our Agent, would not be tolerated today. At the same Board Meeting of 29 January 1923, a letter was read from our distinguished Director and Trustee, Thomas K. Mellor, who had served the Society for 37 years and was a Past-President. The Board learnt with sorrow that their old colleague had moved from the town, was not in good health and wished to offer his resignation as a Director, which was accepted with deep regret. At the same Board Meeting the Minutes showed that the partner of Eddison, Taylor & Booth of Huddersfield, responsible for our local valuations, was E. G. R. Sykes! and no longer J. J. Booth. The fifty-eighth Annual Meeting of the Society was held on 23 Februaty 1923. The President, Richard H. Inman, spoke with esteem and affection of Thomas K. Mellor and his very long period of service with the Society. Mr Inman was able to report another record year, with a rise in assets to over £3,205,000 and mortgage balances of nearly £2,854,000. The gap between these two figures had been greatly reduced by increased mortgage lending and a much lower bank balance of £93,000 in consequence. Receipts had

* E. G. R. Sykes, r.A.1., later became a Director of the Society and sat with Andrew Stewart when I was interviewed for the position of Head Office Surveyor in 1934. When Mr Sykes died in 1958 I was appointed to the Board in his place.

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increased by nearly £208,000 to over £1,394,000. The Society had no properties in possession. The President said that the Huddersfield Building Society was one of the strongest and most progressive societies in the country, and had entirely fulfilled the objects for which it was established in 1864. G. P. Norton, for the Auditors, paid tribute to the efficiency and courtesy of the Secretary and his staff. The retiring Directors were re-elected, and the usual compliments were paid and acknowledged. At the Board Meeting of 26 February 1923 the yearly change of President was implemented, and P. F. Holmes and H. Broadbent were elected President and Vice-President. It is of interest to notice that the increased level of lending resulted in advances being approved at this meeting of over £115,000. On 12 March it was resolved that the Society should take steps to open an Agency in Bournemouth, and at the Board Meeting on 26 March it was resolved that the Secretary should visit Grimsby to report on the possibility of our being successfully represented in that town. In the event, the latter project did not materialize for some years. An unusual mortgage application was approved, subject to valua- tion, on 23 April 1923. Marsden Urban District Council sought to borrow £18,000 on fifty freehold Council houses costing this amount, offering as collateral security a charge on the rates. At the same Board Meeting it was resolved that the President and the Vice-President, accompanied by L. Radcliffe, R. H. Inman, and the Secretary, would attend the Annual Conference of the Building Societies' Association at York on 23-5 May. At the Board Meeting on 4 June 1923 the death of our Agent at Meltham was reported, together with an application by his son, William R. Carter, who had assisted his father in our work for a considerable period, to continue as our Agent. It was resolved that William R. Carter be appointed. The establishment of our Bourne- mouth Agency was approved, our representative being a Solicitor, N. H. Arter, with Jackman & Masters as our Surveyors.! A letter was read from T. P. Crosland's Solicitor in regard to Britannia Buildings (the Minutes were not informative in regard to its contents) which resulted in a Sub-Committee being formed to deal with the matter of purchase. The members were the President, the Vice-President and L. The Sub-Committee met on 15; June 1923 'and after

1 Jackman & Masters later became our Agents in Bournemouth.

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considering the matter fully, decided that an offer of £21,500 be made'. At the Board Meeting of 18 June Lewis was appointed a Trustee of the Society in place of T. K. Mellor, who had submitted his resignation. At the following meeting on 2 July, J. J. Seal, a conveyancing clerk with a leading firm of solicitors in Oldham, was appointed as our Agent in that town.! On 30 July 1923 the response to the offer of £21,500 for the purchase of Britannia Buildings was placed before the Board. Through his solicitor, T. P. Crosland replied 'that the offer of £21,500 was quite out of the question, and that the minimum figure Mr Crosland will accept is £30,500°. The Sub-Committee was invited to continue to give consideration to the matter. In view of the difference in the figures it is perhaps not surprising that the Sub- Committee made no further report to the Board during 1923. The last half of the year was not distinguished by any major events. Lending continued actively both in the Huddersfield area and throughout the Society's now sizeable network of Agencies. A pleasant Minute on 19 November recorded the congratulations of the Board to Lewis Radclifie on his appointment as a Justice of the Peace." At the second Board Meeting in 1924, on 28 January, it was reported that the President, the Vice-President and L. Radclifie had again discussed the purchase of Britannia Buildings with T. P. Crosland, who had finally agreed to accept a price of £30,000. The contract was signed, and completion fixed for 1 March 1924. A letter from Armitage and Norton saying that Herbert Sykes, one of our Auditors, had retired from the firm due to ill-health, was considered. It was resolved that another partner in the firm, G. F. Douglas Walker, should be appointed as joint Auditor with G. P. Norton. On 11 February it was resolved that the forthcoming completion of the purchase of Britannia Buildings be financed by the sale of £30,000 of War Stock. The fifty-ninth Annual Meeting of the Society was held on 7 March 1924. The President, Percy F. Holmes, reported a rise in assets to over £3,960,500, with greatly increased mortgage balances of nearly £3,702,000, an upsurge of over £848,000 due to active

1 J, J. Seal, whom I knew well, later became our Oldham Manager. ® It is of interest to notice that the next (fifty-ninth) Annual Report showed that with the exception of Horace Broadbent, every member of the Board was a J.P.

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lending throughout the year. This had been accomplished without any property in possession having to appear on the schedule. The receipts had increased to over £1,747,000. It was a record year of achievement of which the Society had every reason to be proud. The retiring Directors were re-elected. At the Board Meeting of 10 March 1924, Horace Broadbent and Arthur E. Walker were elected President and Vice-President of the Society. It was of interest to see from a Minute of 24 March that the monthly salaries of the staff, excluding the Secretary, now amounted to £360. On 5 May it was decided that the President, the Vice- President and the Secretary would attend the Building Societies' Association Conference at Birmingham on 11/13 June. It was also resolved at the same meeting that the President, the Vice-President, L. and P. F. Holmes would form a Sub-Committee to deal with the alterations to Britannia Buildings, now owned by the Society. On 30 June Messrs Paul & Michael Waterhouse and Messrs Stocks, Sykes and Hickson were jointly appointed as the Society's Architects in connexion with the extensive alterations that were contemplated. At the Board Meeting of 25 August 1924, however, it was resolved to dispense with the services of P. & M. Waterhouse, and to employ Stocks, Sykes and Hickson exclusively.) During 1924 the appointment of new Agents was not recorded in the Minutes, and it may well be that the Board was willing to allow the Secretary to use his now very experienced judgement in the matter. Be that as it may, the first mention of 'our London Agents' (unnamed in the Minute) occurred in connexion with an application in the record of the Board Meeting of 1 December 1924. My friend H. S. Andrews, our Southern Regional Manager, has told me that in 1924 Mr J. Howard Smith, a Solicitor in Finsbury Square, was appointed as Agent to represent the Society in London. He sub- sequently went into partnership with a Mr A. Skelt and, under the style of Howard Smith & Skelt, they moved to offices in City Road. On 1 July 1929, on the opening of the Society's full branch office in Holborn Viaduct, the agency was cancelled. The printed Report for 1924 featured for the first time a full list of our 29 Agencies, which included not only the entry 'LONDON - Agent: Mr J. Howard

1 The late Clifford Hickson of this old-established firm ultimately became a Director of the Society. He and I served together on the Sub-Committee appointed to superin- tend the building of our present London Office in The Strand.

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Smith, 20 Finsbury Square, E.C.2' but also the following, all of whom I fancy were appointed by the Secretary during 1924:

BOLTON - Agent: Mr Thomas Hudson, 15 Nelson Square. BUXTON - Agents: Messrs Hayes & Son, 3 The Quadrant.

EARLESTOWN - Agents: Messts Hardie & Bullough, 58 Market Street.

NOTTINGHAM - Agents: Messrs R. Bavin & Co., 11 Victoria Street.

SCUNTHORPE - Agent: Mr W. H. Buttrick, 109 High Street. [Mr Buttrick had evidently replaced F. J. Clarke.]

ST ANNES-ON-SEA - Agent: Mr R. H. Greenwood, 1 Orchard

Road. STOCKPORT - Agents: Messrs Ford & Rimington, 59 Wellington Road South. WAKEFIELD - Agent: Mr A. Hampshire Lee, 25 Barstow Square.!

WIGAN - Agents: Messrs James Lowe & Sons, 13 King Street.

In December 1924 Thomas K. Mellor died, and the Board mourned the loss of their old colleague, who had given 37 years of distinguished service to the Society as a Director, and had been both a President and a Trustee. On 15 December it was resolved that a letter of sympathy be sent to Mrs Mellor from the Directors. On 26 January 1925 a letter from a London firm of Solicitors, Brown, Quayle & Co., acting for the National Association of Local Government Officers (N.A.LG.O.) was considered. We were asked whether we could offer special terms to members of this organization who wished to buy their own houses, on the assumption that we in return would secure much good mortgage business from salaried persons. On 9 March, Mr Quayle met the Board at Hudders- field and explained that N.A.L.G.O. had a membership of 40,000 all over the country, and that it was desired as a matter of convenience to place all applications for mortgage through one Building Society.

* The late Arthur Hampshire Lee was a chartered surveyor, land and estate agent and valuer in practice in my native city of Wakefield. My articles with him (and therefore my first connexion with the Society) started on 1 January 1929. Mr Hampshire Lee was the Receiver for two properties in possession of the Society at 7 and 8 Church View, Crofton, a village some four miles from Wakefield, and one of my earliest duties in his office was to collect the weekly rents from these two houses, the journey being made each Monday on my bicycle in all weathers. It would be an agreeable fiction to say that I had a premonition that every stroke of the pedals during this weekly task brought me nearer to the Presidency of the Society 43 years later. In fact, as the final stage of the journey involved the ascent of Church Hill, my feelings at the time about the Society and its property at Crofton were not complimentary.

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It was resolved that favourable consideration would certainly be given to this interesting proposal, and that the Secretary of the Society would arrange to meet the N.A.L.G.O. officials to discuss the details. The sixtieth Annual Meeting of the Society was held on 11 March 1925. The President, Horace Broadbent, reported a rise in assets to over £4,841,000, and mortgage balances of over £4,537,000, the latter being an increase of over £835,000 on the previous year. The Society had no properties in possession. For the first time our assets proudly included Britannia Buildings at £30,000. The receipts were again a record of over £2,336,000, an increase of nearly £589,000. Our position was exceedingly fluid, with investments of nearly £228,000 and nearly £46,000 in the Bank. On the subject of Britan- nia Buildings the President was reported by The Huddersfield Examiner of 14 March, as saying:

During the year the Directors had purchased the building in which the Society's head offices were situate, and were at present engaged in organizing alterations to the entire block which would, when completed make it one of the most modern and up to date in the West Riding.

The retiring Directors were re-elected. At the Board Meeting of 23 March 1925 Arthur E. Walker and Thomas H. Moore were elected President and Vice-President of the Society. The silence of the Minutes in regard to Agencies in 1924 had been broken on 9 March 1925 by the approval of the appoint- ment of J. William Johnson of the firm of Speakman & Hill, Solicitors, as our Agent at Crewe. The resumption of the recording of these new Agencies was continued on 6 April by the appointment of W. E. Randall & Sons, Auctioneers and Valuers, as our Agents in Chatham and Gillingham. At the same meeting a cheque for £5,000 was drawn in connexion with the alterations to Britannia Buildings, additional to the initial expenditure of £5,150 shown in the 1924 Accounts. On 6 April, also, it was reported that we were offered a transfer of engagements by the Stockton-on-Tees Equitable Building Society." On 20 April 1925 the Secretary reported that he had met the officials of N.A.L.G.O., and it was decided to operate a 'N.A.L.G.O.

* It was resolved on 4 May 1925, following an investigation by the Secretary, that no action be taken in view of the severe trade depression in Stockton.

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Agency' attached to our existing representation in London. It will be recalled that N. H. Arter, a Solicitor, had been appointed as our - Bournemouth Agent. On 4 May the Secretary reported that he had visited Bournemouth and 'was not at all satisfied with our representa- tion there'. It was resolved that our Surveyors, Jackman & Masters, who had offices in Bournemouth, Southbourne and Milford-on-Sea, should be appointed as our Agents in that district, in place of N. H. Arter. Two Minutes of the Board Meeting of 18 May 1925 are indicative of the constant expansion of the Society at this time. It was resolved that in respect of new applications and further advances approved on that day cheques amounting to £127,480 be drawn, and that a cheque be signed for for the monthly salaries of the staff, excluding the Secretary. The planning of the alterations to Britannia Buildings went on apace. Previously our office had fronted on to St Peter's Street and John William Street, but what was now proposed was a magnificent fagade commanding the entire St George's Square frontage of Britannia Buildings, which would be the first feature of Huddersfield to be seen by the traveller emerging from the Station into the Square. The central entrance would give access to the Banking Hall and Offices, which were described in The Building Societies Gazette of 1 April 1926:

The walls of the principal offices are to be covered from floor to ceiling with panelling of Italian, French and Belgian marbles, carefully selected to obtain the maximum of reflection of light. The walls of posting rooms and typists' offices will be panelled in mahogany up to dado height, with white marble above the same up to the ceiling. The new ceiling will be of enriched and moulded plaster of simple and dignified design, to harmonise with the marble wall panelling. The existing cast-iron columns are having a fireproof casing put around which will be covered with marble facings; the capitals to these columns and to the pilasters on the walls are of Corinthian design, executed in bronze.

This was the Head Office as I first knew it in 1934. One wishes that our pioneers like Frederick Crosland and Joseph Hirst, who started in one first-floor room in King Street, could have seen it. The total cost of the alterations was estimated at about £40,000, and on 21 September 1925 a cheque for £5,000 was drawn for interim payments to the contractors. Cheques of like amount for the same purpose were approved on 14 December 1925, 8 March, 12 April, 31 May, 23

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August and 1 November 1926, as the work proceeded to com- pletion. On 24 November 1925 the Secretary reported his dissatisfaction with our Agency at St Annes-on-Sea. The Directors accepted his criticisms, and left it to him to suggest what re-arrangements should be made in due course. This was an important decision, for in my view it ultimately set in train the establishment of our District Office in Blackpool, where we were transacting a very large amount of mortgage business. In the early months of 1926 the Directors continued to give close attention to estimates and materials for the alterations to Britannia Buildings, and to receive progress reports from the Architects. The sixty-first Annual General Meeting of the Society was held on 9 March 1926. The President, Arthur E. Walker, j.p., reported a rise in assets to over £5,741,000 with mortgage balances of nearly £5,280,000, the latter being an increase of over £742,000 on the previous year. The receipts, constituting a new record, were over £2,831,000, an increase of over £495,000. Our investments totalled nearly £381,000 and our bank balance was over £40,000. The President reported that the Board had allocated £5,000 to form the nucleus of a Staff Superannuation Fund. The retiring Directors were re-elected. At the Board Meeting on 22 March 1926, following for the last time for many years the principle of annual rotation,' T. H. Moore and E. J. Bruce were elected President and Vice-President. The important decision was taken to dispense with all Sub-Committees, and to allow the full Board to deal with every item of business at this period. On 3 May 1926, the Secretary reported that the premises occupied by our Blackpool Agent were now inadequate for the volume of business transacted. He said that the owners were willing to sell the whole building at 5 Birley Street, Blackpool, for £4,500 with vacant possession. A Special Board Meeting was called on 7 May to consider this single matter, when it was resolved that the President and the Secretary be empowered to purchase the property on the best terms they could negotiate.

* In 1972 it was resolved that the Presidency should be on a two-year rotation in the future.

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WILLIAM HENRY KAYE, 1912-28 133

At the meeting of 3 May another matter was considered, but no decision was taken. A letter was read from our Solicitor, A. E. T. Hinchcliffe, complaining that some of the Society's legal work was not being sent to him, and that in particular business was being given to a solicitor, formerly in his employ, who was now in practice on his own account. This may have been the beginning of some personal feeling between Mr Hinchcliffe and W. H. Kaye which had un- fortunate results. On 17 May 1926 the death of J. E. Willans, who had been one of the Society's Trustees for many years, was reported. It was unanimously agreed that R. H. Inman be appointed in his place. On 31 May, Parish & Clarke, Accountants, of 3 Branch Road, Batley, were appointed as our Agents in that town. At the same meeting it was reported that the President and the Secretary had visited Black- pool and purchased 5 Birtley Street for £4,000, completion to be on 24 June. On 14 June 1926 our connexion began with the Legal and General Assurance Society, which we still enjoy today. A letter was read from that Society regarding the 'Combined Scheme', in which a single life insurance premium was added to the mortgage, enabling the title-deeds to be handed over to the widow in the event of the death of the mortgagor during the repayment term. It was resolved that a representative of the Legal & General should meet the Board to discuss the details of the scheme. As a result, G. W. Bridge, then the Agency Manager of the Legal and General,* attended our Board Meeting on 28 June, 'and fully explained the combined scheme of mortgage insurance. Questions were asked and the matter fully gone into, and it was decided that the matter be considered for a fortnight by the Directors and a decision come to at the next Meeting'. The decision taken at the Board Meeting of 12 July, was that the Legal and General 'Combined Scheme' of insurance mortgage be adopted by the Society. The slogan, if my memory serves me, was 'A Home that will always be At the Board Meeting of 26 July 1926, samples of a proposed brochure, A Record of Progress, to be published in commemoration of

1 I knew the late G. W. Bridge, who was a distinguished insurance man. When I was invited to join the old Northern Counties Board (now the Northern and Scottish Board) of the Legal and General Assurance Society in 1962, G. W. Bridge was Deputy Chairman of the main Board.

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134 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

the completion of the Society's new Head Office, were considered by the Board. On 20 September it was agreed that the sample booklet and estimate of £663 from Burrows and Son Ltd, be approved. The complaint by A. E. T. Hinchcliffe that some of the legal work of the Society was being given to a Solicitor formerly with his firm came at a time when the Board was already taking the view that the establishment of a panel of solicitors (following the precedent, already discussed, of the use of 'outside Valuers' who could introduce business) might be of greater advantage to the Society than the employment of a single firm. As a result, after some correspondence between Mr and the Secretary of the Society, which did not improve the situation, Armitage, Sykes & Hinchclifie's appoint- ment as Solicitors to the Society was terminated on 4 October 1926. In consequence, in a difficult matter that arose between the Society and its former Bournemouth Agent, N. H. Arter, the Board sought the advice of another Huddersfield Solicitor, J. D. Eaton Smith, who established a close connexion with the Society, and subsequently became a Director. On 1; November payment for the alterations to the Blackpool Office began with the drawing of a cheque for £500, the first of several sums of money devoted to the improvement of 5 Birley Street, Blackpool, the first premises owned by the Society outside Huddersfield. A further £700 was drawn on 10 January 1927. At the Board Meeting on 21 January 1927, the following Minute was recorded:

The Secretary mentioned that our Blackpool Offices were nearing completion and stated that the present arrangement of the Agency should be altered as the business was now so important that the dual office of Valuer and Agent should not be held by one man. He also suggested that the whole area should be under the control of Head Office and a repre- sentative appointed, and he further asked the Board to allow his son to have the appointment. It was arranged for the Secretary to go over and make arrangements in accordance with these suggestions and then report.

On 7 March 1927, the Secretary reported 'that he had been over to Blackpool and arranged matters in accordance with his suggestions of 21 February, and it was resolved that these arrangements be approved and that the usual power be given to the Representative to sign the necessary cheques'. This meant that James Burns's duties were limited to those of surveyor, and that the Secretary's

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WILLIAM HENRY KAYE, 1912-28 135

son, H. S. Kaye," was henceforward in charge of our Blackpool office and of the sub-Agencies at Fleetwood and St Annes-on-Sea. The sixty-second Annual Meeting of the Society was held on 9 March 1927. The President, T. H. Moore, J.r., reported a rise in assets to neatly £6,757,000 with mortgage balances of over £6,105,000, the latter being an increase of over £800,000. The receipts were over £2,790,000. Referring to the arrangement with the Legal and General Assurance Society, the President said:

The Directors have, during the year, adopted a Combined House Purchase and Life Assurance Scheme whereby borrowing Members of the Society may, at the cost of a slight addition to their mortgage repayments, effect an insurance which will, in the event of the death of the Borrower during the currency of the Mortgage, repay the whole of the mortgage debt and enable us to hand over the deeds to the next-of-kin freed from all mortgage liability.

The President declared the customary Investors' bonus, with the observation that this was the 53rd year in succession that the Society had paid a bonus. The two retiring Directors, T. H. Moore and P. F. Holmes, were re-elected, and two newly-nominated Directors were elected to the Board to make the number up to nine, the maximum under the new Rules. The two new Directors were Sir H. Gordon Kaye, jJ.p., M.A., the Chairman of Kaye and Stewart, Ltd, Woollen Manufacturers of Broadfield Mills, Huddersfield and W. H. Kaye, the Secretary of the Society." It must have been a proud moment for the Secretary to know that his work for the Society had been recognized in this way, and one hopes that the memory of it helped to carry him through the trials that awaited him during the short nineteen months of his life that remained. At the Board Meeting of 21 March 1927, E. J. Bruce was elected President of the Society, a position he was to occupy until 1931. Lewis Radcliffe was elected Vice-President. There is no record in the Minutes of any of the ensuing meetings of an official opening of

* Henry Singleton Kaye was born on 6 January 1902, and was therefore 25 at the time of his appointment in 1927. He left the service of the Society in February 1929, shortly after the late Andrew Stewart's appointment as General Manager, thus severing the last link of the Kaye 'dynasty' with the Huddersfield Building Society, to join the staff of the Wakefield Building Society. I am indebted to my friend William Robinson, the General Manager of that old established Society in my native city, for much informa- tion about H. S. Kaye. * This precedent has been followed. Both the late Andrew Stewart, c.B.E., c.A., and our present General Manager, Denis K. Macnaught, c.a., were elected to the Board after a few years' service.

10

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136 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

the new Head Office. The last substantial cheque in payment for the alterations appears to have been drawn on 25 July, with a final payment of a few hundred pounds as late as 15; October 1928. In July 1927 an Agents' Conference and Luncheon had been held at the suggestion of the President. A Minute on 25 July recorded the Board's satisfaction at the success of this important event, which was the first of its kind in the history of the Society. On 14 November T. H. Moore reported the result of his visit to Halifax, accompanied by H. Broadbent and the Secretary, to explore the possibility of our opening a District Office in that town. It was agreed that the matter be left in the hands of these members of the Board. On 2 December 1927, the question of our Manchester Agency was also raised, regarding the desirability of our moving into a very suitably situated prominent ground-floor office in Mosley Street. The matter was left in the hands of T. H. Moore and W. H. Kaye. As the year 1927 drew to its close, it seemed that all was well with the Society, and that 1928 promised nothing but further progress. Our Agent at Buxton was Victor Hayes, aged 41, an Auctioneer and Estate Agent practising under the style of Hayes & Son at 3 The Quadrant, Buxton and also at New Mills and Marple. Hayes was well known and highly respected in the district. The fact that both the Board and the Secretary reposed complete confidence in Hayes's integrity was demonstrated by the fact that he had authority to cash cheques drawn by the Society up to a limit of £2,000. He had been our representative in Buxton since 1924, and acted in the dual capacity of Agent and Valuer. Early in 1928 an observant clerk at Head Office noticed something that was to reveal what was described during the subsequent proceedings as 'one of the most wholesale and systematic frauds that could be imagined'. A letter addressed to a presumed Buxton borrower from Head Office was returned by the Post Office 'address unknown', and an investigation was commenced. It was found that in 12 cases in January 1928 cheques had been issued in respect of mortgage advances on Certificates of Title apparently signed by a Solicitor in Buxton. The Title Deeds had not been received by the Society, and the Solicitor whose name had been forged was entirely without knowledge of the cases. On the morning of Sunday, 12 February 1928, Hayes was inter- viewed in his office at Buxton by W. H. Kaye, accompanied by L. Blackburn, the Managing Clerk, and Stanley Lockwood, who

Page 152

WILLIAM HENRY KAYE, 1912-28 137

later became Manager of Branches. A Special Board Meeting was called on the following day, 13 February, to enable the Secretary to present a report, recorded in the following Minute:

This Meeting was called in order that the Directors may know what had taken place at Buxton. The Secretary reported that on the previous Friday several cards of Solicitor's Certificates had been brought before him, and that he had visited Buxton on Sunday morning to interview our Agent to ask for an explanation as to why so many cards were outstanding, and although no Deeds had come through in respect of these Certificates the _ cheques had gone through the Bank. Previous to calling on the Agent he had kept an appointment to see the Solicitor in question, and the Solicitor denied signing the Certificates. At the subsequent interview with the Agent, the latter acknowledged that he had signed them and used the money, and that in two further cases where money had been received to pay off mortgages, he had used that money also. The Secretary then left the Agent and went to the Police Station, where on a signed statement from the Solicitor he had applied for a warrant for our Agent's arrest, and this had been effected. The Directors approved of the Secretary's action, and resolved that in the future no person or firm should act as both Agent and Valuer to the Society."

On the same day that this report was received by the Board, 13 February 1928, Victor Hayes appeared in the dock at the Magi- strates' Court at Buxton charged with 'forging twelve documents (Certificates of Title) relating to property with intent to defraud at Buxton between 2 January and 11 January 1928'. There were the usual remands, and Hayes made his final appearance before the Buxton Magistrates on 7 March 1928. At this hearing evidence was given by W. H. Kaye and S. Lockwood, both of whom were severely cross-examined at length by Hayes's Counsel. There can be no doubt from the reports of the case in The Buxton Advertiser & Herald, that W. H. Kaye in particular was subjected to great strain in the witness- box. Hayes was committed for trial at Derbyshire Assizes on bail of £1,000 and two sureties of £500 each. At his trial Hayes pleaded guilty to nine charges of forgery and false pretences, and was sentenced to four years penal servitude. The total loss suffered by the Society from Hayes's crimes was £14,408, and this considerable sum of money (by 1928 values) was

1 This resolution was amplified on 27 February 1928, when it was decided that in future no dual position should be held at any Agency, and that there should always be a separate Agent, Valuer, and Solicitor, together with other protective measures including regular visits to all Agencies by Stanley Lockwood, who was henceforward to devote his whole time to this work.

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138 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

ultimately wholly recovered from the North British & Mercantile and Liverpool & London & Globe Insurance Companies, and the National Provincial and Midland Banks. The Banks did not admit any liability in the matter of the cheques converted by Hayes, but made an ex gratia payment of £3,000. Inevitably the pursuit of these claims involved the Secretary in heavy labour and much anxiety. The settlements were, moreover, exceedingly time-consuming, and were not in fact finally achieved until February 1929, a date which W. H. Kaye tragically did not live to see. In 1928 the Society continued its normal routine of work and progress, and the sixty-third Annual Meeting was held on 1 March. The President, E. J. Bruce, reported a rise in assets to over £8,000,000, with mortgage balances of nearly £7,268,000, the latter being an increase of nearly £1,163,000 on the previous year. The receipts constituted a new record of nearly £3,396,000, an increase of over £605,000 on the previous year. The President said that during the year a further £100,000 had been put to reserve, making the liquid assets nearly £766,000. Out of a total of 14,940 mortgages, 14,136 (or neatly 95%) were in respect of loans under £1,000. Mr Bruce remarked:

Naturally, with the vast increase of business came increasing responsi- bilities, and the Directors wished to assure the members that they were completely alive to those responsibilities, and as a result had had further to increase the precautions they took to safeguard their interests by way of increasing the amounts of insurances they had in connexion with all officials at Head Office and branches who were in any way connected with the business of the Society.

As our former Buxton Agent was not even to be committed for trial until six days later, the case of R. v. Hayes was sub-judice. It may be thought, however, that the President's assurance was not un- connected with the Buxton affair, and was both timely and entirely justified in the event, since the Society suffered no loss. G. P. Norton, also possibly significantly, said 'that the Society, in an emergency,. could put hands on close on a million pounds of cash, and from the point of view of depositors and investors that was a very strong feature'. The Meeting was a success, and the retiring Directors were re-elected. At the Board Meeting of 5 March 1928, E. J. Bruce was re-elected President, thus ending the annual rotation, and R. H. Inman was elected Vice-President. Agency development continued, and on

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WILLIAM HENRY KAYE, 1912-28 139

19 March the Board approved the appointment of Frank Shuffle- botham as our new Agent in Buxton, A. France and Co. as our Agents in Leeds! and Joseph Binns as our Agent in Mirfield. On 2 April the Secretary reported that in company with Stanley Lock- wood he had visited Coventry and Derby. In the former town J. W. B. Crompton was to be our Agent, and Marston & Sons would act as Surveyors. In Derby our Agent would be T. Stevenson McIntyre, and Richardson and Linnell were appointed as our Surveyors. Both our Agents in Coventry and Derby were chartered accountants, but I can say from my own experience not many years later that T. S. McIntyre was a remarkable producer of mortgage business, principally from builders among his large clientele. Our interest in opening a District Office in Halifax was still evident at the same Board Meeting of 19 March, but the rental quoted for the property in which we were interested was considered too high. On 11 June 1928, however, the rental sought for the accommodation we required in Somerset House, a fine position in the centre of Halifax, was reduced substantially to £150 per annum on a seven-year lease. It was resolved that the Society should enter into a lease, and that estimates be obtained for the necessary altera- tions. The draft lease was finally approved on 23 July. On 25 June it was resolved that the Society should open an Agency in Grimsby, and that Baguley (1926) Removals Ltd, of West St Mary's Gate, would represent us in that town. It was further resolved on 9 July that we should be represented in Stoke-on-Trent, and Sidney R. Williams of Glebe Buildings, Glebe Street, was appointed as our Agent. It seems probable that this rapid expansion was assisted by the devotion of Stanley Lockwood's whole time to the Society's activities outside Huddersfield. However that may be, at the Board Meeting of 20 August 1928 John Thornley & Son, of 1 Mawdsley Street, Bolton, were appointed as our Agents in that town. On 5; October 1928, we opened our District Office at Somerset House, Halifax. The following account appeared in The Building Societies Gazette of 1 November 1928:

* It will be recalled that this firm of Accountants were already our Agents in Cleck- heaton. My own firm, V. Stanley Walker & Son (which I did not join until my demobilization in 1945), were appointed Surveyors to the Society in Leeds concurrently with the establishment of the Agency.

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140 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

The Huddersfield Building Society, which was established on September 5th, 1864, and has now between 50 and 60 branches,* has opened offices at Somerset House, George Street, Halifax. A special approach has been made to the suite of offices, combining public office, manager's room and clerks' office. The premises have been well furnished and artistically decorated. There was no ceremony in connection with the opening, though the President of the Society, Mr. E. J. Bruce, J.P., was present along with other Directors, and the Secretary, Mr. W. H. Kaye, to welcome friends old and new. One of the Officials of the Society said that they had come to Halifax, having had many invitations to do so, and they were hopeful of doing good business. It is recorded in a history of the Society that it was born 64 years ago in zeal for social improvement and human betterment, and it has made steady and even progress. With the exception of the first two years, the office of Secretary has been held continuously by father and son. Mr. Henry Kaye was Secretary for 46 years and Mr. W. H. Kaye now holds that office.

My old friend Arthur Porritt (now retired and happily pursuing his avocation as a noted antiquarian) was our highly regarded Manager at Halifax from 1 January 1931 for the remainder of his working life. He tells me that George R. Cartmel was in charge of the new office for a few months before the advent of Henry Gibson in 1929. Arthur Porritt took over from the latter when Henry Gibson became our first Manager at Bristol. The Board Meeting of 15 October 1928 was the last to be attended by W. H. Kaye. It is of melancholy significance that the Minutes recorded three matters connected with the principal results of his life's work for our Society. The first was the approval of cheques totalling £123,673 in respect of advances and further advances approved at that fortnightly meeting, which we can relate to the major ingredient of the Society's total assets, the mortgage balances. It will be recalled that when Henry Kaye retired in 1912 the assets of the Society were rather over £772,000. At the last Annual Meeting of the Society attended by William Henry Kaye in March 1928, sixteen years later, the assets had grown over tenfold to a total in excess of £8,000,000. When Henry Kaye retired in 1912 the Society had (in addition to 7 local Agents in villages around Hudders- field) 6 Agencies at Doncaster, Darlington, Stockton-on-Tees, Sheffield, Rotherham and Barnsley. On 15 October 1928, S. Murray & Haldane, Estate Agents, of 5 Halford Street, Leicester, were

1 This was an over-statement.

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WILLIAM HENRY KAYE, 1912-28 141

appointed as the Society's Agents in that town, with Andrew & Ashwell as our Surveyors. It was to be the last of many such recom- mendations made by W. H. Kaye and approved by the Board. The | establishment of the Leicester Agency meant that by 1928, in addi- tion to the local Agencies, the Society had 2 District Offices, 2 sub-Offices (at Fleetwood and St Annes-on-Sea) and 33 Agencies in England and Wales. Finally, on 15 October 1928 a last cheque for £403.11.1d. was drawn to complete the payment for the re-modelling of Britannia Buildings, purchased by the Society during W. H. Kaye's tenure of office, resulting in a Head Office of which we were justifiably proud. During the next two weeks W. H. Kaye entered a Nursing Home in Trinity Street, Huddersfield, to undergo an operation. He died on 31 October 1928, the cause of death being certified as embolism following operation for inguinal hernia'. He was 56 years old. The informant to the Registrar was 'H. S. Kaye. Son. Stanleigh, Warbreck Hill Road, Blackpool'. The Board met on 1 November, deeply shocked by the unexpected death of the Secretary. A letter was written to Mrs Kaye and the family, and it was resolved that the office be closed from 11.15 a.m. on Saturday, 3 November for the funeral, which was attended by the Directors and the staff. After a service at Holy Trinity Church, where W. H. Kaye had been churchwarden, he was laid to rest in the same grave as his father at Almondbury. At the sixty-fourth Annual Meeting of the Society, held on 1 March 1929, the President, E. J. Bruce, spoke of the late W. H. Kaye. He was reported by The Huddersfield Examiner as saying:

Before the ordinary business of the meeting was transacted, the Presi- dent referred to the loss which the Society had sustained in the death of Mr. W. H. Kaye, their late Secretary. Mr. Kaye and his father, said Mr. Bruce, had seen the Society grow from small beginnings to large dimensions. A great deal of the Society's success was due to the energy and activity of Mr. Kaye. It represented practically his life work. His death was practically unexpected, and he (Mr. Bruce) was sure the meeting would wish him to express sympathy with Mrs. Kaye and the family. Those present showed their respect by standing.

The Vice-President, R. H. Inman, was reported as saying:

I desire to join in the expression of regret at the loss we have sustained by the passing of our late colleague and Secretary Mr. W. H. Kaye, who for a considerable period served the Society with conspicuous ability, and

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142 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

under whose guidance the business has increased in both magnitude and usefulness. Whilst we mourn his loss, we recognise with gratitude the value of the service he rendered, not only to us, but to the Building Society movement in which we are all so deeply interested. It may be some consolation to his family to know that he had the confidence of all those with whom he was associated.

Page 158

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Page 159

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Page 160

The Banking Hall and General Office of Britannia Buildings, Huddersfield in 1926

Left to Right: H. Dransfield, Arthur Lodge, T. W. Brook, Harold Lucas, Frank Netherwood, C. C. Sykes (cashiers). W. H. Kaye (Secretary)

PLATE 7

Page 161

PLATE 8

The author in front of Britannia Buildings in 1935

Page 162

Epilogue

to an end in 1928 of an era in the history of the Huddersfield Building Society, a conclusion that was finally marked by the death of William Henry Kaye. In the nineteen-twenties, not many Building Societies had expanded their activities as rapidly as we had done by the vigorous establishment of Agencies operating over large areas of the country. For W. H. Kaye's vision and immense industry in this connexion one can have nothing but praise. Totally honest himself and a member of a deeply religious family, he con- fidently expected the same virtues in others, and in every Agency appointment he made except that of Victor Hayes his faith in his fellow-men seems to have been justified. On the other hand, it must be conceded that the permitting of Agents to be also Valuers (the hazards of which Kaye himself recognized at Blackpool a year before the Buxton imbroglio) and the evident lack of regular and adequate Agency inspection before 1928 were defects in our administration in those years of early expansion that made it possible for Hayes to defraud the Society. It can properly be urged that it is greatly to the credit of the Sec- retary and his staff that Hayes's misappropriations were discovered so quickly and such prompt and effective action taken, and that the Society did not suffer one penny of loss. On the other hand, over £14,000 was stolen by an appointed Agent. It was a traumatic experience that greatly disturbed the Board. As a direct consequence, 1928 marked the end of the exclusive employment by our Society of men who had grown up with us, and who relied for their skill wholly upon long experience in building society work. It is significant in this connexion that the Board appointed as W. H. Kaye's successor Andrew Stewart, who was not a building society man but was, at the age of 34, a highly qualified and experienced chartered accountant. In the account of our Annual Meeting on 1 March 1929 in The Building Societies Gazette of 1 Aptil, E. J. Bruce was reported as saying 'that in appointing a successor to

THE BUXTON affair was an important ingredient in the bringing

143

Page 163

144 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

Mr. Kaye, they felt it necessary to engage a gentleman who had been engaged in large financial affairs'. When I joined the staff in 1934, the new General Manager had already appointed five chartered accountants to the Head Office staff. The late Thomas Duncan was the Head Office Manager, assisted by Stanley Smith! and Frank Tetley. The late T. Douglas Bisiker® was the Internal Auditor, and the late Sydney M. Cartmel® was the Mortgage Manager. As early as 17 May 1929, moreover, David Somers, a young chartered surveyor, had been appointed as Head Office Surveyor to advise the Board on the appointment of panel surveyors and upon new proposals of magnitude or complexity throughout the country.4 It can be said, therefore, that after 1928 the recruitment to our staff of professionally trained and qualified persons, generally without previous building society experience, was purposeful and by no means uncommon. The position is somewhat different today, in that employees joining our staff from school are encouraged to study and qualify by examina- tion for professional membership of the Building Societies Institute. That organization, however, was not established until 1934. In parenthesis, it is interesting to notice that over the years the same process of change has gradually taken place in the composition of the Board of Directors. In the early years of the Society the Board consisted exclusively of Huddersfield businessmen, many of whom were Aldermen, Councillors, and Justices of the Peace. The first Director to be drawn from the professional classes was a valuer, John J. Booth, forty years after the establishment of the Society. When I joined the staff in 1934, however, the Board already included a solicitor, the late J. D. Eaton Smith (who became President in 1934 and retained that position for 23 years), a valuer, the late E. G. R. Sykes, r.a.1., and Andrew Stewart, a chartered accountant. Today, whilst we still take pride in the fact that we boast five distinguished Huddersfield businessmen among our number (one of whom is a chartered accountant), the Board is completed by two solicitors, our General Manager (who is a chartered accountant), and a chartered surveyor. It may be thought that in modern conditions this makes an admirably balanced group of Directors.

1 Stanley Smith later became Head Office Manager. % Douglas Bisiker later became Manager of Branches. 3 Sydney Cartmel later became London Manager. 4 When David Somers was posted to our London Office I replaced him.

Page 164

EPILOGUE 145

When W. H. Kaye died, our Society already had two fully-manned District Offices in Blackpool and Halifax, so that it cannot be said that the move towards solid expansion in this way, as opposed to the comparative simplicity, rapidity and cheapness of Agency development, had not started in 1928. Blackpool and Halifax were successful, and had demonstrated that despite the fact that even in those days it took time and money to establish a District Office, the effort was justified. In 1929 we opened our first London Office, with sub-offices at Chingford and Leigh-on-Sea, and converted our sub- office at St Annes-on-Sea into a full Branch. This impetus continued in the following year, when six new District Offices were opened in Bristol, Doncaster, Edinburgh, Liverpool, Manchester, and Stock- port, with sub-offices at Elland, Gillingham, and Wallasey. It is, in my view (admittedly with the advantage of hindsight) a great pity that the depression of the nineteen-thirties, followed by the paralysis of the Second World War, seemed unduly to slow down the branch expansion programme for which we seemed so admirably poised in 1930, when central properties in large towns could still be bought at modest prices, and the planners were not yet so completely our heavy-handed masters. We have, however, made up in recent years for some of that slackening of momentum in the years of caution and economy, as our 39 excellent District Offices and 2 sub-branches demonstrate today to the visitor to many important towns and cities throughout the United Kingdom.

Page 166

AppEnpIx I

PRESIDENTS OF THE SOCIETY

1864-1928 Joseph Hirst 1864-188 1* Frederick Crosland 188 1-1897* John Henry Stuttard 1897-1905 Thomas K. Mellor 1905-1907 Richard Riley 1907-1909 Lewis Radcliffe 1909-1911 Richard H. Inman I9II-I913 William H. Jessop 1913-1915 Thomas Henry Moore 1915-1917 Percy Frederick Holmes 1917-1920 Edward J. Bruce 1920-1921 Lewis Radcliffe 1921-1922 Richard H. Inman 1922-1923 Percy Frederick Holmes 1923-1924 Horace Broadbent 1924-1925 Arthur E. Walker 1925-1926 Thomas Henry Moore 1926-1927 Edward J. Bruce 1927-1931

*died in office

147

Page 167

AppEnpiIx II

VICE-PRESIDENTS OF THE SOCIETY

Richard Roberts James Scholefield Frederick Crosland Charles Vickerman John Henry Stuttard John E. Webb

Thomas K. Mellor James Haigh

Richard S. Dyson Lewis Radcliffe Richard H. Inman William H. Jessop John J. Booth

Thomas Henry Moore Edward J. Bruce Lewis Radcliffe Richard H. Inman Percy Frederick Holmes Horace Broadbent Arthur E. Walker Thomas Henry Moore Edward J. Bruce Lewis Radcliffe Richard H. Inman

1864-1928

1864-1865 1865-1868 1868-188 1 1881-1895 1895-1897 1897-1897

1897-1905 1905-1908

1908-1909 1909-1909 1909-1911 I9II-I913 1913-1914

I914-191$ 1915-1920 1920-1921 1921-1922 1922-1923 1923-1924 1924-1925 1925-1926 1926-1927 1927-1928 1928-1931

148

(resigned as a Director) (not re-elected as a Director) (elected President) (died in office) (elected President)

(resigned as a Director on 17.12.1897) (elected President)

(resigned as a Director on 17.6.1909) (died in office) (elected President) (elected President) (elected President)

(retired to take up duties as Society's Surveyor)

(elected President) (elected President) (elected President) (elected President) (elected President) (elected President) (elected President) (elected President) (elected President) (elected President) (elected President)

Page 168

AppEniprIx III

DIRECTORS OF THE SOCIETY

1864-1928

Fredrick Crosland, Woollen Merchant Byram Street, Huddersfield

James Scholefield, Dentist New North Road, Huddersfield

John Dodds, Merchant John William Street, Huddersfield

Charles Denham, Currier Pack Horse Yard, Huddersfield

Joseph Hirst (Councillor), Woollen Draper Buxton Road, Huddersfield

Richard Roberts, Manufacturer Lockwood

Henry Shaw Jr, Merchant St George's Square, Huddersfield

Charles Smeeton, Draper Kirkgate, Huddersfield

William Henry Woodcock, Bookseller Westgate, Huddersfield

George Tindall, Printer and Engraver New Street, Huddersfield

T. A. Brown, Salesman at Armitage Bros

Charles Vickerman (Councillor) Director, Benjamin Vickerman & Son, Woollen Manufacturers New Street, Huddersfield

149

1864-1987 (died in office) 1864-1868 (not re-elected)

1864-1865 (not re-elected but believed to have resigned)

1864-1866 (resigned) 1864-1881 (died in office)

1864-1865 (resigned - moved from neighbourhood)

1864-1867 (resigned) 1864-1867 (resigned); 1867-1872 (died in office) 1864-1868 (not re-elected)

1865-1868 (resigned)

1865-1866 (resigned)

1866-1895 (died in office)

Page 169

150 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

AppEnpIx III - continued

Robert Wood, Shoemaker Church Street, Huddersfield

John Henty Stuttard (Councillor)

Director, Carter & Stuttard, Painting Contractors, King Street, Huddersfield

H. G. Duggan, Flock Dealer Market Street, Huddersfield

John E. Webb, Woollen Merchant Station Street, Huddersfield

Jos. Sykes, Woollen Merchant

William Fawcett, Timber Merchant Viaduct Street, Huddersfield

Thomas Armitage Partner, Lidster & Armitage, Plumbers, John William Street, Huddersfield

Joseph Radcliffe Partner, John & Sons, Building Contractors, Huddersfield

Joseph Goodwin (Councillor) Director, William Goodwin & Sons, Slate Merchants, Chapel Hill, Huddersfield

William Radcliffe (Councillor) Partner, John Radcliffe & Sons, Building Contractors, Huddersfield

J. Christie, Builder and Joiner West Parade, Huddersfield

George Slater, Master Plumber Horsfalls Yard, King Street, Huddersfield

1866-1867 (resigned)

1867-1907 (died in office)

1867-1868 (not re-elected)

1868-1897 (resigned - claims of business)

1868-1872 (not re-elected)

1868-1870 (died in office)

1868-1876 (disqualified - not a member)

1870-1872 (died in office)

1872-1897 (died in office)

1872-1904 (resigned - _

age and infirmity)

1872-1877 (not re-elected)

1876-1888 (died in office)

Page 170

APPENDIX III 15 I AppEnpIx III - continued

Anthony I. Huddleston (Councillor) 1877-1885 (resigned - Director, Wilson, Travis & Co., business reasons) Carriage Manufacturers of Brook Street and Fountain Street, Huddersfield

William Roberts, Leather Merchant and 1881-1885 (resigned - Currier, John William Street, failing health) Huddersfield

Henry Holland, Master Joiner and Builder _ 1884-1894 (died in office) of Gledholt Bank

Thomas K. Mellor 1885-1923 (resigned - Managing Director, T. K. Mellor removed to Grange- and Co., Woollen Manufacturers, - over-Sands, also Market Street, Huddersfield advancing years and ill-health) James Haigh 1885-1909 (resigned -

Director, Thornton Varley and Haigh, failing health) Cloth Finishers, Globe Works, Colne Road, Huddersfield

John Greenwood, Paper-Hanging Merchant, 1888-1895 (died in office) High Street, Huddersfield

Richard Riley (Councillor) 1895-1916 (resigned) Director, J. A. Riley Limited, Boilermakers, Manchester Road, Huddersfield

Richard S. Dyson 1895-1909 (died in office) Director, R. S. Dyson & Sons, Ltd, Provision Merchants, New Street, Huddersfield

Alfred Jubb 1895-1898 (resigned) Managing Director, Alfred Jubb & Son Ltd, Printers and Bookbinders, Station Street, Huddersfield

Lewis Radcliffe, JP 1897-1934 (died in office) Managing Director, John Radcliffe & Sons Limited, Building Contractors, Huddersfield

11

Page 171

152 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

AppEnipIx III - continued

Robert Nelson

Director, Nelson and Woolgar, Shippers, St John's Road, Huddersfield

James Brook, Occupation not known

Richard H. Inman, jp (Alderman) (Mayor) Mineral Water Manufacturer, Firth Street, Huddersfield

William H. Jessop, jp (Alderman) (Mayor) (Freeman), Director, Graham and Jessop, Contractors, Builders and Quarry Owners, Moldgreen,

Huddersfield

John J. Booth

Partner, Eddison, Taylor and Booth Auctioneers and Surveyors, High Street, Huddersfield

Percy Frederick Holmes, jp Chairman, W. C. Holmes & Co. Ltd, Engineers, Turnbridge

Thomas Henry Moore, Jp

Director, William Willans Limited, Wool Merchants and Importers, 32 Market Street, Huddersfield

Edward J. Bruce, Jp

Director, Crowther Bruce & Co., Woollen Manufacturers, Bank Bottom Mills, Marsden

Joseph Blamires, jp (Alderman) (Mayor of Huddersfield), Director, T. & H. Blamires Limited, Woollen Manufacturers, Phoenix Mills, Huddersfield

1897-1906 (died in office)

1898-1899 (resigned - continued and prolonged absence from home)

1898-1933 (died in office)

1899-1921 (died in office)

1904-1914 (retired to take up duties as Society's Surveyor)

1907-1941 (died in office)

1907-1939 (died in office)

1909-1931 (died in office)

1909-1918 (died in office)

Page 172

APPENDIX III 153

AppEnipIx III - continued

Arthur E. Walker, jp 1915-1931 (died in office) Director, Edwin Walker & Co. Ltd, Woollen Manufacturers, Field Mills,

Huddersfield Horace Broadbent 1919-1942 (resigned - Thos. Broadbent and Sons Limited, ill-health) Engineers, Central Ironworks, Huddersfield Sit Henry Gordon Kaye, Bart, Jp, MA 1927-1956 (resigned - Chairman, Kaye and Stewart Limited, difficulty of attending Woollen Manufacturers, meetings after moving Broadfield Mills, Huddersfield to South of England) William Henry Kaye 1927-1928 (died in office)

Secretary of the Society

Page 173

AppEnpIx IV

CHIEF EXECUTIVES OF THE SOCIETY

1864-1928 John Smith (Accountant) 1864-1867 (resigned) Secretary Henry Kaye (Accountant) 1867-1912 (retired as Secretary Secretary and appointed Actuary until his death on 4 March 1913) William Henry Kaye (Assistant 1912-1928 (died in office) Secretary of the Society) Secretary

154

Page 174

AppEnpIx V

TRUSTEES OF THE SOCIETY

1864-1928 Wright Mellor, pr, jp (Alderman) 1864-1893 (resigned (Mayor of Huddersfield) because of ill-health and age) William Mallinson 1864-1893 (resigned -__ because of ill-health and age) T. Walter Brooke, jp 1893-1903 (died in office) James E. Willans, Jp 1893-1926 (died in office) W. Wrigley, JP 1903-1917 (retired) Thomas K. Mellor 1903-1923 (resigned) Lewis JP 1923-1934 (died in office) Richard H. Inman, jp (Alderman) 1926-1933 (died in office)

(Mayor of Huddersfield)

Note: One of the effects of the incorporation of the Society in 1884 was that the services of the Trustees were subsequently almost unnecessary. Thereafter, except in a few special cases of copyhold securities (and certain investments), mortgages were prepared in the name of the Society alone and when the debt was paid off the release required the Corporate Seal of the Society instead of the signatures of the Trustees. At the Annual Meeting on 16 February 1884 high tribute was paid to the Trustees and it was said that, although their services would only be required on special occasions, they be requested to remain upon the Rules, Reports and Prospectus of the Society. Both Trustees, writing on 19 March 1884, from the Victoria and Albert Hotel in Torquay, said that it was a pleasure to be associated with such a valuable institution and authorized the continued use of their names.

155

Page 175

AprpEnpIx VI HEAD OFFICE SOLICITORS

Jonas Craven 1864-1892 (died in office) (From 1872 Craven and Sunderland, Solicitors, Huddersfield, when C. S. Sunderland became a partner. The latter died in 1889)

Joseph Bottomley (Borough Prosecutor) 1892-1899 (died in office) 52 New Street and 1 Union Bank Yard, New Street, Huddersfield

Armitage, Sykes & Hinchcliffe 1899-1926 13 Westgate, Huddersfield

Arthur Edward Townend James Sykes, ur.B. (died 1921)

In October 1926 the Directors decided to discontinue the appointment of an official solicitor and to establish a panel of solicitors throughout the country. After 1926 the main legal work for the society was conducted by Eaton Smith & Downey, Solicitors, of Huddersfield, until 1962.

Page 176

AppEnpIx VII

TREASURERS OF THE SOCIETY

John G. Berry 1864-1870 (change of Banker, West Riding Union Bank) Banking Company' Charles William Sikes (later Sir Charles) 1870-1889 (died in office)

Manager, Huddersfield Banking Company Limited

Benjamin Allen 1889-1898 (retired) Manager, Huddersfield Banking Company Limited (later Huddersfield Manager, London & Midland Bank Limited)

Thomas H. Stott 1898-1912 Huddersfield Manager, London City & Midland Bank Limited

The last record of the appointment of Treasurer was in the 1912 Annual Report for the year ended 31 August. The Rules of 1864 made it obligatory for the Society to appoint a Treasurer who had the duty to attend every subscription meeting. If he was unable to attend through illness or other reasonable cause he had to provide an efficient substitute. It was the Treasurer's task to receive from the Stewards (being two or more members elected at the General Meeting for twelve months)® the subscriptions paid during the evening and pay the amount to the Society's bankers on the following day. It will be readily understood therefore why (as was noted in the Minutes in 1898) the Treasurer had always been the Manager of the Bank at which the Society had done its business. There is no record of the appointment commanding any fee and the first Rules contain provision only for imposing a fine of five shillings for failure to carry out the specific duties of Treasurer. On 22 October 1912, it was resolved to transfer the Society's account to the Bradford District Bank Limited and it would appear that no appoint- ments as Treasurer were made subsequent to that date.

* The first Rules and the Minutes of 19 August 1864, wrongly described the Bank as the West Riding Banking Company. ® It is interesting to note that the Stewards were responsible both for the quantity and quality of the money received until paid over to the Treasurer.

157

Page 177

158 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

AppEnpix VII - continued

It is doubtful, however, whether over the years the Treasurer did in fact attend the Subscription Meetings. It seems probable that in due course the Secretary of the Society took over the responsibility of collecting and banking the money, with the title of Treasurer continuing as a courtesy until it went out of use in 1912.

Page 178

AppEnpiIx VIII ARBITRATORS OF THE SOCIETY

The following arbitrators were appointed by the Directors on 9 September 1864 subject to their acceptance. There is no record of acceptance or any changes until five new arbitrators were appointed twenty years later:

Richard Armitage Iron Founder, New North Road Robert Deake Gooch Accountant, New Street William Henry Aston Cloth Finisher, South Parade James Broman Wallpaper Merchant

Charles (later Sir Charles) William Sikes Huddersfield Banking Company

(The last named was the manager of the Huddersfield Banking Company Limited, and was Treasurer to the Society from 1870 until his death in 1889.)

After the incorporation of the Society in 1884 five arbitrators were appointed (pursuant to the Building Societies' Act 1874) to act as referees in case of dispute. Further appointments were made up until 1910 as follows:

Joseph (later Sir Joseph) Crosland, jp _ 1884-1904 (died in office) Edward Armitage, JP 1884-1907 (died in office)

John (later Sir John) Arthur Brooke, jp _ 1884-1921 (died in office)

James Drake, JP 1884-1908 (died in office) Joseph Dyson Butler 1884-1896 (died in office) Alfred Walker, jp (of Lindley) 1896-1910 (died in office) Frederick Eastwood, JP 1904-1911 (resigned due to

serious illness) John H. Sykes, Jp 1907-1919

159

Page 179

160 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

AppEnipIx VIII - continued

John Fisher 1908-1919 (last record) Alfred Sykes, jp 1910-1915 (died in office) Notes:

1. In the 1910 Annual Report it was stated that in the 46 years of the Society's existence, no dispute had arisen requiring the services of the arbitrators.

2. On 25 January 1912, the Minutes record that as the Rules do not make it compulsory for the Society to have five Arbitrators, it was resolved not to fill the vacancy caused by the resignation of Mr Frederick Eastwood.

3. The Society's new Rules in 1918 provided that in case of dispute, reference shall be made to arbitration, pursuant to the Building Societies' Act 1874. The question of appointing likely gentlemen to fill the vacancies was raised at a Board Meeting in January 1919, but in view of the fact that no disputes had arisen over the years it would seem likely that the Board decided to take no further action.

Page 180

AppEnpIx IX

AUDITORS OF THE SOCIETY 1864-1928

W. E. Thomas Schoolmaster of Spring Street 1864-1880 (retired)

William Dawson West Riding Union Banking Company 1864-1866 (Received £1 out of fee of L2.10.0d. for the year 1866)

A. Campbell 1866-1868 (Received L1.10.0d. out of fee of £2.10.0d. for the year 1866)

David Johnston 1868-1871 J. K. Glaisyer 1871-1873 (died in office) John William Sykes Clerk at Messrs Starkey Bros 1873-1890 Joseph Bate 1880-1890 (retired) William Henry Armitage, rca 1890-1912 (retired) George Pepler Norton, FCA 1890-1912 Gilbert Paul Norton, FCA 1912-1914 (war service)

re-appointed 1921-1956 (retired)

Herbert Sykes, FCA 1912-1923 (retired - ill-health) Wilfred Horsfall Hughes, FCA 1914-1921 G. F. Douglas Walker, rca 1924-1948

(The foregoing six gentlemen were all partners in the firm of Armitage and Norton, Chartered Accountants, of Huddersfield.)

161

Page 181

APPENDIX X

PRINCIPAL BANKERS OF THE SOCIETY

1864-1928 Date of Appointment West Rropmnc Unton Banking 1864 The Society changed bankers because of excessive charges to Banking Company LimtrED 1870 which was taken over by Lonxnpon anp Mipranp BAnKk LimtrEp 1897 which changed its name on a merger with the City Bank Limited to T'xr Loxnpon CirTr anp Mipranp Bank LintrEDp 1898 (Huddersfield Bank Branch) The Society changed bankers for better terms to T'ur Braprorp BANK LimntrED 1912

which amalgamated with

Tur Provinctatr aAnp Unton Ban or Encranp LimtrEp (Bradford District Bank Branch) 1919 which changed its name to

NarTroNAL Provinctar BANK LintTED 1924 (Westgate Branch, Huddersfield)

162

Page 182

AppEnpIx XI

BONUSES PAID BY THE SOCIETY 1864-1928 '

1874 (Annual Report for year ended 31 August 1874) The Directors recommended that a bonus of TWO SHILLINGS IN THE POUND on the interest for the past year be divided amongst the shareholders (investors and borrowers equally) still leaving the reserve fund upwards of £1,000.

1875-1890 inclusive (Annual Report for year ended 31 August 1875) 10% on the interest for the past year. Borrowers shared equally with investors in this bonus.

1891-1907 inclusive (Minutes page 1286 - 9 October 1891) No member shall be entitled to receive a bonus unless he has been a shareholder for a full financial year. Resolved that a bonus of 2s. 1d. per share be recommended out of the profits of the past year.

(Minutes page 354 - 27 August 1897) Resolved that investors and borrowers who have been members during the whole of the financial year and who withdraw or pay off between the close of the year and the Annual Meeting (that is from the end of August to November) be allowed to share in the bonus which may be declared at the Annual Meeting. The method of carrying out this arrangement to be left with the auditors and Messrs Riley and Nelson, Directors.

1908-1917 inclusive (Minutes page 1or9 - 8 November 1907) The Board considered the question of the distribution of bonus for the coming year and it was thought that it would be inequitable for borrowers in the future to participate in the surplus profits. Mrt Hinchcliffe, Head Office Solicitor, reported that he had laid a case before Counsel for his opinion as to the appropriation of the surplus profits and the case and opinion were read to the Board. Resolved that from 1 December next the announcement that bonus would be paid to investing and borrowing members equally be withdrawn; that the practice of paying bonus to existing borrowers be continued, but that as to all loans made on and after 1 December next the question of allocating bonus to such borrowers shall be considered annually by the Board after the expiration of each financial year. In the opinion of the Board, having regard to present financial conditions, it will be equitable to allocate the bonus for the current year without any payment thereout to future borrowers. It was also

163

Page 183

164 HUDDERSFIELD BUILDING SOCIETY, 1864-1928 AppEnpIx XI - continued

resolved that a notice be placed upon the application for advances to the effect that on and after 1 December 1907 no bonus would be paid to new borrowers.

(Sub-Committee 21 February 1908) 'Our system of paying bonus to investors at so much per share per annum (we pay 2s. 1d. at present) is not considered the best method. It is better to have a graduated scale (increasing each year) and thus make it an inducement for the investor to allow his money to remain. In future the bonus will be at the rate of $%, on the total yearly subscriptions commencing when the first year's subscriptions have been in the Society for 12 months.'

(Minutes 31 December 1908) The question of borrowers and their bonus was considered, and also the resolution of $ November 1907 relating to the payment of bonus to borrowers. Resolved that the paying of bonus to any of the borrowers be dis- continued and that the bonus be paid to investing members as before and in accordance with the resolution of 21 February 1908.

(Minutes 13 April 1917) The question of increasing the rate of bonus allowed to investors was considered. It was decided for future business that one per cent be allowed instead of $ per cent as previously.

1918-1927 inclusive One per cent to investors on their subscriptions.

1928-1932 (Minutes 1 March 1929) One and a half per cent to investors on their subscriptions.

Page 184

APPENDIX XII DIRECTORS' REMUNERATION

Directors' fees as such were not paid until the year 1897-8. Prior to 1897 the Board was voted a sum of money to spend as the Directors thought fit. The following were the amounts recorded and were spent on one or two excursions during the following years:

Years ended 31 August 1878-1884 L21 Presumed paid (expended in the following year). 1885-1889 £25 1890 £30 - To include the two retiring Auditors. 1891 £25 Out of which the Directors paid £5 to the I 89 2-I 896 £ 30 Huddersfield Infirmary C

By a resolution at the Annual General Meeting on 6 November 1897 it was decided that in future Directors' fees be paid. The following table sets out the fees paid and distributed for each qualifying year.

For year ended 31 August Distributed 1897 £105 1 @ £15 9 @ £10 1898 £105 1 @ £15 9 @ £10 1899 L105 1 @ £15 8 @ L11.5.0d. 19oo ___ £105 1 @ £13 9 @ £10 gor __ £105 1 @ £15 9 @ £10 1902 £105 1 @ £15 9 @ £10 1903 £105 1 @ £15 9 @ £10 1904 £200 10 @ £20 1905 £200 10 @ £20 1906 £200 10 @ £20 1907 £200 10 @ £20 1908 £200 10 @ £20 1909 £200 8 @ £20 4 @ £10 1910 £400 10 @ £40 1911 £400 10 @ £40 1912 £400 10 @ £40 1913 £400 10 @ £40

165

Page 185

166 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

AppEnpix XII - continued

For year ended 31 August - continued

1914 __ £500 191; =_ £500 1916 £500 1917 £500.0.6d. 1918 £1,000.0.3d. 1919 £1,000.1.2d.

For year ending 31 December

1920 £1,350 1921 £1,350 1922 £1,350 1923 £1,500.0.3d. 1924 £1,500.0.3d. 1925 £1,500.0.3d. 1926 £2,000 1927 £2,599.19.9d. 1928 £2,700

10 @ £50 10 @ £50 10 @ £50 9 @ £55.11.2d. 9 @ L111.2.3d. 8 @ L118.1.3d. 1 @ {£55.11.2d.

Distributed

9 @ £150.0.0d. 8 @ £156.5.0d. 1 @ £100.0.0d. 8 @ £168.15.0d. 7 @ L214.5.9d. 7 @ L214.5.9d. 7 @ L214.5.9d. 6 @ £297.12.6d. 1 @ £L214.5.0d. 9 @ £288.17.9d. 9 @ £300.0.0d.

Page 186

Po:

APPENDIX XIII ANNUAL AND SPECIAL MEETINGS OF THE SOCIETY 1865-1928

Friday 1.12.1865 Assembly Room, Philosophical Hall

Tuesday 18.12.1866 Wellington Hall, Queen Street Alteration of Rules (Certified 14.1.1867)

I0.

12. 13. 14. 1%. 16. 17. 18. 19.

20. 21. 22. 23. 24. 25.

26.

12

P Pu $ _

Tuesday 15.10.1867 Wellington Hall, Queen Street Tuesday 27.10.1868 »» »» »» »> Tuesday 26.10.1869 »» »» »> »> Tuesday 25.10.1870 »» »» »» »> Tuesday 31.10.1871 o 5» »> »> Tuesday 29.10.1872 $> $» »> »> Friday 31.10.1873 »» »> »> »> Tuesday 27.10.1874 »» e »> »» Friday 29.10.1875 »» »> »» »> Tuesday 31.10.1876 »» »» »» »> Saturday 27.10.1877 > »> »» »» Saturday 26.10.1878 o »» »» »> Saturday 25.10.1879 »» »» »> »> Saturday 30.10.1880 $> »» »> »> Saturday 29.10.1881 »» »» »> »> Saturday 28.10.1882 »» »» »» »» Saturday 27.10.1883 »> $» »> »> Saturday 16. 2.1884 o e »» »> Saturday 3. 5.1884

Two Specials - Adoption of new Rules and Incorporatlon

under Act of 1874.

Saturday 22.11.1884 Wellington Hall, Queen Street Saturday 21.11.1885 Assembly Rooms, Queen Street Saturday 20.11.1886 »» »» »> »> Saturday 12.11.1887 »> »» »» »> Saturday 10.11.1888 »» C »> »> Saturday 16.11.1889 »> s» »> »> Saturday I 5 11.1890 »> »» »> »> Saturday 1890 s» »> »>

Special - Addltlonal Rule 224

167

Page 187

168 HUDDERSFIELD BUILDING SOCIETY, 1864-1928 AppEnpIx XIII - continued

27. Saturday 14.11.1891 Assembly Rooms, Queen Street

28. Saturday $.11.1892 »» s» »> »> 29. Saturday II.11.1893 e $» »> »» 30. - Saturday 10.11.1894 »» »» »> 31. - Saturday 9.11.1895 »» e »> »» 32. Saturday 7.11.1896 »» »» »> »> 33. Saturday 6.11.1897 »» »» »» »> 34. Saturday $.11.1898 > r »» »> 35. - Saturday »> »» »> »> 36. Saturday 43.11.1900 »» »» »> »» 37. Saturday 40.11.1901 »> »> »> »> 38. Saturday 29.11.1902 - Lecture Hall, YMCA, King Street 39. Saturday 28.11.1903 s» »» »» ee 40. - Saturday 26.11.1904 New Temperance Hall, Princess Street 41. Saturday 25.11.1905 - Parochial Hall, George Street 42. Saturday 24.11.1906 »> »» »> »> 43. Saturday 23.11.1907 »» »» »> »> Thursday 30.7.1908 »» »» »>

Special - Alteration of Rules 44. Saturday 21.11.1908 - Parochial Hall, George Street

45. - Saturday 20.11.1909 $> »» »> »» 46. Tuesday 22.11.1910 r »» »> »» 47. Tuesday 21.11.1911 o $p ss s»

48. Wednesday 20.11.1912 Reception Room, Town Hall 49. Wednesday 19.11.1913 Parochial Hall, George Street 50. Wednesday 18.11.1914 Temperance Hall, Princess Street $1. Wednesday 17.11.1915 Parochial Hall, George Street

52. Wednesday 29.11.1916 »» »» »» »» 53. - Tuesday 27.11.1917 o »» o »» $4. Thursday - 28.11.1918 $> »> C »»

Thursday _ 28.11.1918 Special - Change of name and adoptlon of new Rules

55. Thursday - 27.11.1919 Parochial Hall, George Street

Thursday - 27.11.1919 »» »» Special - Altered financial year to 31 December

Thursday 9.9.1920 Britannia Buildings, St Peter's Street Special - Alteration of Rules

Page 188

APPENDIX XIII

AppEnpIx XIII - continued

56. Thursday 31.3.1921 Parochial Hall, George Street

57. - Tuesday 21.3.1922 »» Pee »> 58. Friday 23.2.1923 > »> »» »> 59. - Friday 7.3.1924 > »» »» »» 60. Wednesday 11.3.1925 »» »» »» »> 61. Tuesday 9.3.1926 »» »» »> »> 62. Wednesday - 9.3.1927 »» »> »> »>

"63. Thursday 1.3.1928 »» »» »» »»

Page 189

Year or Period

5.9.1864 to 3.9.1865 4.9.1865 to 2.9.1866 4.9.1866 to 2.9.1867 3.9.1867 to 31.8.1868 Year to 31.8.1869 1870 1871 1872 1873 1874 1875 1876 1877 1878 1879

APPENDIX XIV

STATISTICAL SUMMARY 1864-1928

Shares

£ 1,704 4,405 8,362 11,299 13,592 17,461 21,576 20,533 32,070 40,607 48,214 61,679 68,186 74,426

Deposits

£ 1,976 4,358 5,812 5,230 8,418 9975 12,601 14,358 14,287 17,762 19,945 23,885 23,655 29,013 33575

INVESTORS' BALANCES, LIABILITIES AND RESERVES

Other

Liabilities General Reserve

Provisions and and Balance Special Reserves Carried Forward

£ £ 339 26 274 34 1,424 48 382 115 1,264 204 980 339 *1,186 534 733 997 1,382 1,530 1,604 1,748 1,935

2,089 *loan from bank

Percentage

of Total Assets

0.6 0.4 0.4 0.8 1.0 1.4 1.7 2.0 2.4

2.7 2.5

2.2 2.0 2.0

1.9

170

HUDDERSFIELD BUILDING SOCIETY, 1864-1928

Page 190

APPENDIX XIV - continued

INVESTORS' BALANCES, LIABILITIES AND RESERVES - continued

Year or Period

Year to 31.8.1880 188 1 1882 1883 1884 1885 1886 1887 1888 1889 1890 1891 1892 1893 1894

1895 1896

Shares

£ 79,042 84,828 91,554 97,103 98,815 92,183 91,781 96,117 100,5 5 I 107,095 112,098 119,618 123,697 124,100 123,295 129,905 134,737

Deposits

£ 41,436 44,05 2 39977 39,830 41,703 53,763 63,116 73>334 80,872 90,842 96,998 106,017 114,707 118,469 119,785 130,290 134,589

Other Liabilities

Provisions and Special Reserves

*1,502

*loan from bank

General Reserve and Balance Carried Forward

£ 2,416 2,971 3,649 4,238 4,654 4,938 5,300 5,782 6,281 7,014 7-519 7,838 8,248 8,686 9,198 9-749 9,846

Percentage

of

Total Assets

2.0 2.3 2.7 3.0 3.2 3-3 33

3.3 3 4 3-5 3-4 3-3 3+5 3.6 3.6

3-3

APPENDIX XIV

171

Page 191

APPENDIX XIV - continued

INVESTORS' BALANCES, LIABILITIES AND RESERVES - continued

Year or Period

Year to 31.8.1897 1898 1899 1900 1901 1902 1903 1904 1905 1906 1907 1908 1909 1910 I911I 1912 1913

Shares

£ 132,897 136,846 137,291 140,643 140,579 145,333 149,375 156,279 169,716 182,068 189,561 199,789 204,990 280,129 363,134 431,144 506,754

Deposits

£ 138,870 139,500 147,468 154,533 166,856 195,963 222,289 245,164 260,713 296,104 314,923 335,299 367,124 341,676 321,748 312,176 308,931

Other

Liabilities Provisions and Special Reserves

*13,042

"9,927 *18,989 *7,196

*24,021 *14,666

*loan from bank

General Reserve and Balance Carried Forward

£ 10,517 10,762 11,349 11,95 5 12,753 12,954 13,315 13,199

14,064

15,010

15,939 17,712 20,230 23,215 26,204 29,256 32,381

Percentage

of

Total Assets

3+7 3+7 3.8 3-9 3.8 3-7 3+5 3.1 3.2 3.0 3.0 3.2 o 3+5 3.6 3.8 3.8

172

HUDDERSFIELD BUILDING SOCIETY, 1864-1928

Page 192

APPENDIX XIV - continued

INVESTORS' BALANCES, LIABILITIES AND RESERVES - continued

Year or Period

Year to 31.8.1914 191% 1916 1917 1918 1919 16 months to 31.12.1920 Year to 31.12.1921 1922 1923 1924 1925 1926 1927 1928

Shares

£ 575,603 620,333 170,266 835,727 1,090,742 1,423,573 1,875,334 2,155,874 2,621,634 3,267,229 4,172,700 4,765,240 5,427,396 6,300,079 7,408,516

Deposits

£ 309,997 298,659 289,409 265,491 292,945 344,671 435,633 433,491 427,129 433,356 461,054 733,502 1,057,112 1,413,605 1,678,841

Other Liabilities

Provisions and Special Reserves

*¥46,462

*79,822 3,000 16,000 25,000 30,000

36,609

*loan from bank

General Reserve

and Balance

Carried Forward

£ 36,369 42,630 46,204 52,073 57-775 65,418 90,38 1 121,111 156,333 180,101 201,523 210,574 222,191 237,016 250,310

Percentage

of

Total Assets

3-9 4.4 4.2 4.5 4.0 3-5 3.8 4.5 4.9 4.5 4.2 3-7 3 3 2.6 2.7

APPENDIX XIV

173

Page 193

APPENDIX XIV - continued

Year or Period

5.9.1864 to 3.9.1865 4.9.1865 to 2.9.1866 4.9.1866 to 2.9.1867 3.9.1867 to 31.8.1868 Year to 31.8.1869 1870 1871 1872 1873 1874 1875 1876 1877 1878 1879 1880 1881 1882

Mortgage Assets

£ 3-839 8,702 12,529 13,891 20,963 24.014 31,732 36,418 41,365 50,056 58,8 50 71789 86,867 95,013 106,594 123,089 125,074 128,108

Investments

and Cash £ 54 239 371 98 137 802

219 432 1,138 3,212 1,894 195 4,101 3470 6.757 7.053

ANALYSIS OF ASSETS

Percentage of Total Assets

I.3 2.6 2.9 0.7 0.6

3.2 0.6 1.0 2.2 5.2 2.6 0.2 4.1 3.2 §.1 5.2

Other Assets

I 5 2 130 117 100 85 70 50 30 20 20 20 20 20 20 20 20 20 20

Total Assets

£ 4,045 9,071 13,017 14,089 21,185 24,886 31,782 36,667 41,817 $1,214 62,082 73-703 87,082 99,134 110,090 123,109 131,851 135,181

Percentage

Growth

124.3 43 4 8.2 50.4 17.5 27.7 I 5.4 14.0 22.5 21.2 18.7 18.2 13.8 II.I 11.8

7.1 2.5

174

HUDDERSFIELD BUILDING SOCIETY, 1864-1928

Page 194

APPENDIX XIV - continued

Year or Period

Year to 31.8.1883 1884 1885 1886 1887 1888 1889 1890 1891 1892 1893 1894 1895 1896 1897 1898 1899 1900

ANALYSIS OF ASSETS - continued

Mortgage Asseis

£ 129,489 135,406 145,638 156,497 174,763 189,006 195,546 204,930 226,829 237,844 247,028 251,178 239,240 251,439 278,934 278,974 294.457 306,696

Investments

and Cash 4. II,332 9,466 4,976 3457 250 9,225 6,498 8,668 4,097 1,000 30,614 27,653 3,280 8,064 1,601 435

Percentage of Total Assets

8.0 6.5 3-3 2.2 0.1

4.5 5.3 2.8 3-5 1.6 0.4 II.3 9.9 1.2 2.8 0.5 0.1

Other Assets

£ 3 50 300

270 243 220 200 180 162 146 140 130 100 90 80 70 70 50

Total Assets

£ 141,171 145,172 150,884 160,197 175,233 189,206 204,95 I 216,615 233,473 246,652 251,255 252,278 269,944 279,172 282,284 287,108 296,108 307,131

Percentage Growth

4.4 2.8 3-9 6.2 9-4 8.0 8.3 3-7 7.8 5.6 1.9 0.4 7.0 3 +4 I.I 1.7 3. I 37

APPENDIX XIV

175

Page 195

APPENDIX XIV - continued

Year or Period

Year to 31.8.1901 1902 1903 1904 1905 1906 1907 1908 1909 1910 1911 1912 1913 1914 1915 1916 1917 1918

ANALYSIS OF ASSETS - continued

Mortgage Assets

£ 333,230 339,785 372,623 414,994 427,848 457,057 530,241 5 50,866 569,284 660,193 717,045 742,543 814,957 898,187 912,149 908,311 935,200 979-488

Investments

and Cash

£ 14,165 12,806 9,350 16,445 35,645 8,721 8,721 22,660 8,498 8,407 29,598 32,724

23,342

49,173 197,318 217,891 460,667

Percentage of Total Assets

4.0 3-3 2.2

7.2 1.6 I. 5 3.8 I.3 I.I 3.8

2.5 5.1 17.8 18.9 32.0

Other Asseis

300 250 225 200 480 450 400 400 350 300 435 385 350 300 250 200 1,307

T otal Assets

£ 333,230 354,250 385,679 424,569 444,493 493,182 539,412 559,987 592,344 669,041 725,752 772,576 $48,066 921,879 961,622

1,105,879 I, 153,291 1,441,462

Percentage Growth

8.5 6.3 8.9 10.1 4.7 11.0 9-4 3.8 5.8 13.0 8.5 6.5 9.8 8.7 4.3 I $.0 4.3 25.0

176

HUDDERSFIELD BUILDING SOCIETY, 1864-1928

Page 196

APPENDIX XIV - continued

Year or Period

Year to 31.8.1919 16 months to 31.12.1920 Year to 31.12.1921 1922 1923 1924 1925 1926 1927 1928

ANALYSIS OF ASSETS - continued

Mortgage Assets

£ 1,204,702 1,989,558 2,336,966 2,853,903 3,701,938 4,5 37,410 5,279,685 6,105,262 7,267,900 8,150,897

Investments and Cash

£ 674,769 410,922 373,510 351,193 258,570 273,867 421,631 586,937 665,886 1,183,638

Percentage of Total Assets

35:9 I7.1 13.8 10.6 6.5 5-7 7+3 8.7 8.3 12.6

Other Assets

£ 653 868

30,000 40,000 64,5 00 76,914 76,350

Total Assets

£ 1,880,124 2,401,348 2,710,476 3,205,096 3,960,508 4,841,277 6,756,699 8,010,700 9,410,885

Percentage Growth

30.4 27.7 12.9 18.3 23.6 22.2 18.6 17.7 18.6

17.5

APPENDIX XIV

177

Page 197

APPENDIX XIV - continued

Year or Period

5.9.1864 to 3.9.1865 4.9.1865 to 2.9.1866 4.9.1866 to 2.9.1867 3.9.1867 to 31.8.1868

Year to 31.8.1869

1870 1871 1872 1873 1874 1875 1876

1877 1878

Received

£ 2,143 3330 3,804 3,067

4,947 3737 4,727 535 38 6,436 7,760 8,015 9,621 6,591 10,086

DEPOSIT AND SHARE TRANSACTIONS DEPOSITS

Interest

£

Information Not

Available

Withdrawn including Net Received Interest Increase (Decrease)

£ £ £

200 - Information 2,295 1,094 Not 3,768 2,5 64 Available 5,346 3,846 8,909

2,007 7-5 51 2,595 10,261

2,560 11,067 4,35 2 14,260 7,111 17,359 4,840 21,243 6,505 26,678 6,809 31,241 7-759 39,246 6,605 42,611

SHARES

Interest

£

Information Not

Available

Withdrawn including Interest

£ 366

1,067

1,934

2,236

2,644 3,708 2,75 I 4,388 6,021 7.496 7,403 10,213 7,994 14,254

Net Increase (Decrease)

£

Information Not

Available

178

HUDDERSFIELD BUILDING SOCIETY, 1864-1928

Page 198

APPENDIX XIV - continued

Year or Period

Year to 31.8.1879 1880 1881 1882 1883 1884 1885 1886 1887 1888 1889 1890 1891 1892 1893 1894 1895

Received

£ 11,046 13,558 13,231 8,257 10,299 9-973 17,829 15,615 19,861 21,828 22,471 20,055 21,626 22,761 19,453 15,724 19,763

DEPOSIT AND SHARE TRANSACTIONS - continued

DEPOSITS

Interest Information Not

Available

Withdrawn including

Interest

£ 9,592 10,087 14,85 I 15,895 11,978 12,506 13,024 14,183 16,055 20,057 21,914 22,515 22,548 23,212 24,380 22,402

17,093

Net Increase (Decrease)

£

Information Not

Available

Received

£ 46,614 42,058 51,740 45,047 51,813 49943 49,979 $1,473 52,155 60,656 66,926 66,242 68,858 75-875 73,5 20 66,905 68,526

SHARES

Interest £ Information Not

Available

Withdrawn including Interest

£ 14,752 15,575 14,945 15,586 20,220 21,516 26,791 20,793 19,573 21,348 19,663 22,472 19,836 S 27,595 27,559 20,203

Net Increase (Decrease)

£

Information Not

Available

APPENDIX XIV

179

Page 199

APPENDIX XIV - continued DEPOSIT AND SHARE TRANSACTIONS - continued

SHARES Withdrawn

DEPOSITS Withdrawn

180

Year or Period

Year to

31.8.1896

1897 1898 1899 1900 1901 1902 1903 1904 1905 1906 1907 1908 1909 1910 I9II 1912

Received

£

26,357 24,730 24,207 29,437 30,005 39,5 61 52,157 55,529 64,290 54,716 73,708 66,267 71,950 81,091 63,442 61,523 56,038

Interest

£

3,546 35333 3,388 3,475 3,701 4,265

5,267 6,102

6,786 7,386 8,057 8,867 9-349 10,189 10,306 9-498 8,983

including Interest

£

25,603 23,782 26,965 24,944 26,641 31,503 28,317 34,605 48,901 46,553 46,374 56,315 60,932 59,4406 99,196 99,949 74-593

Net Increase

(Decrease)

£

4,299 4,281

630 7,968 7,065 12,323 29,107 27,026 22,175 15,549 35,391 18,819 20,367

31,834

(25,448) (19,928) (9.572)

Received

£

28,004 28,405 28,959 30,458 32,602 35,132 3595 5 37,483 38,13 1 39,878 40,696 42,548 43,266 44,173

95,657 108,106

101,285

Interest

£

5,094 4,738 4,854 4,864 4,950 5,08 1 5,172 5,369 5,628 5,976 6,429 6,817 7,070 7,22§ 8,453 11,408

14,017

including Interest

£

28,266

34,983 29,864 34,877 34,200 40,277 36,373 38,810 36,855 32,417 34,773 41,872 40,108 46,197 28,971 36,509 47,292

Net Increase

(Decrease)

4,832 (1,840) 445 3,352 (64) 4,754 4,042 6,904 13,437 12,352 7493 10,228 5,201 75,139 83,005 68,010

HUDDERSFIELD BUILDING SOCIETY, 1864-1928

Page 200

APPENDIX XIV - continued

Year or Period

Year to

31.8.1913

1914 1915 1916 1917 1918

1919

16 months to 41.12.1920

Year to

31.12.1921

1922 1923 1924 1925 1926 1927 1928

Received

£. 62,576

67,533 67,511 74,916

75349 98,032

153,758 278,608

1 52,084 143,993 139,975 183,799 427,744 498,542

598,790 622,964

DEPOSIT AND SHARE TRANSACTIONS - continued

DEPOSITS

Interest

£ 8.957 8,922 8,983 8,367 7,804 7,966

9,132 14,750

12,618 12,256 12,403 12,721 22,063 33,782

49,511 65,014

Withdrawn including Net

Interest

£ 74,778 75479 87,742 92,533 107,071 78,544

111,164 202,396

166,844 162,611 146,151 168,822 177,359 208,714 291,808 422,742

Increase (Decrease)

£. (3.245) 976 (11,248) (9,250) (23,918) 27,454

51,726 90,962

(2,142) (6,362) 6,227 27,698 272,448 323,610 356,493 265,236

Received

£ 112,149 136,642 136,175 201,136 193,967 312,638

453,123 813,971 485,541

672,853 890,069

1,215,738 1,202,685 1,120,838 1,340,014 1,702,149

SHARES

Interest

£ 16,345

19,738 20,502

26,232 340,014 37,159

49,614

89,406

87,095 103,767 129,913 165,408 201,827 228,599 264,798 309,596

Withdrawn including Interest

£ 52,884 87,531 111,947 7724335 158,520 94,772

169,906 451,616

292,096 310,860 374387

475)735 811,972

687,281 732,129 903,308

Net Increase (Decrease)

£ 75,610

68,849 44,730 149,933 65,461

255,015 332,831 451,761

280,540 465,760 645,595 995,471 592,540 662,156 872,683

1,108,437

APPENDIX XIV

181

Page 201

182 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

APPENDIX XIV - continued

NUMBER OF DEPOSITORS AND MEMBERS

Year or Period 5.9.1864 to 3.9.1865 4.9.1865 to 2.9.1866 - 4.9.1866 to 2.9.1867 3.9.1867 to 31.8.1868 Year to 31.8.1869 1870 1971 1872 1873 1874 1875 1876 1877 1878 1879 1880 1881 1882 1883 1884 1885 1886 1887 1888 1889 1890 1891

1892 1893 1894 1895

Depositors 42

97 112

191 247 293 354 430 415 477 506 566 586 587 605 634 728 817 879 953 1,062 1,148 1,218

1,266 1,285 1,265 1,336

Total Number of Shareholders

Share Investors

2,517 2,337 2,231

2,297

211 356 447 473 542 1909 698 825 962 1,160 1,395 1,638 1,798 1,793 1,850 1,952 1,995 2,083 2,139 2,166 2,215 2,331 2,480 2,608 2,817 3077 3,189

Borrowers

745 820

838 834

Page 202

APPENDIX XIV - continued

NUMBER OF DEPOSITORS AND MEMBERS - continued

Year or Period Year to 31.8.

16 months to 31.12.

13

Year to 31.12.

1896 1897 1898 1899 1900 1901 1902 1903 1904 1905 1906 1907 1908 1909 1910 1911 1912 1913 1914 1915 1916 1917 1918 1919 1920 1921 1922 1923 1924 1925 1926 1927 1928

APPENDIX XIV

Depositors

1,343 1,349 1,344 1,398 1,502 1,683 1,984 2,223 2,486 2,745 3,073 3)277 3490 3,840 4,260 4,033 4,184 4,413 5537 5,356 555 71

5,699 6,260

6,781 T719 75874 7,883 7,894 8,5 90 9,003 9,286 9,808

995°

Share Investors

2,366 2,3 57 2,414 2,537 2,683 2,859 2,964 3,133 3,234 a 35583 3,689 3754 4,175 4,713 5,065 1,799 6,244 6,768 7,461 8,601 10,517 12,749 12,982 13,228 14,072 15,680 16,494 17,610 18,992 20,912

183

Borrowers

871 931 963 1,029 1,088 I,I 3 I 1,193 1,269 1,369 1,423 1,496 1,65 1 1,756 1,828 2,009 2,170 2,284 2,489 2,669 2,753 2,822 2,920 3,117 3,408 4,5 54 5,038 7,008 8,5 38 10,3 1% 12,3 § I 14,940 17,012

Page 203

184 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

APPENDIX XIV - continued

MORTGAGE ADVANCES

Year or Period

5.9.1864 to 3.9.1865 4.9.1865 to 2.9.1866 4.9.1866 to 2.9.1867 3.9.1867 to 31.8.1868 Year to 31.8.1869 1870 1871 1872 1873 1874 1875 1876 1877 1878 1879 1880 1881 1882 1883 1884 1885 1886 1887 1888 1889 1890 1891 1892 1893 1894 1895 1896 1897

Amount

Advanced

£ 3954 4,626 4,898 5,739 7,720 6,944 12,294 9,5 40 10,368 15,790 18,556 24,852 31,435 27,288 33,5 69 33,131 27,643 21,241 24,75 I 27,45 I 32,078 33,168 38,886 42,088 36,212 38.432 52,05 2 47,024

34,566 20,562

49,5 5 6 68,638

Repayments Interest including Net Charged Interest Increase £ £ £

I n f o r m a t i o n

N o t

A v a i l a ble

9,617 46,974 __ 12,199 10,199 _ $1,342 _ 27,49j

Page 204

APPENDIX XIV

APPENDIX XIV - continued

MORTGAGE ADVANCES - continued

Year or Period

Year to 31.8.

16 months to 31.12. Year to 31.12.

1898 1899 1900 1901 1902 1903 1904 1905 1906 1907 1908 1909 1910 I9II 1912 1913 1914 191% 1916 1917 1918 1919 1920 1921 1922 1923 1924 1925 1926 1927 1928

Amount Advanced

£ 47,110 58,300 52,5 28 69,972 57,184 87,098 101,200 68,695 91,830 142,342 104,673 101,504 160,782 131,137 112,406 164,264 182,737 105,687 90,223 130,514 186,872 414,027 1,151,885 691,192 938,708 1,400,091 1,525, 104 1,621,382 1,681,923 2,241,886 2,069,859

Interest

Charged

4 10,369 10,839 11,354 11,845 12,435 13,529 15,232 16,646 17,538 19,312 21,75 I 22,459 25,124 27,962 29,776 31,726 36,041 38,368 40,204 41,291 44,270 49998 118,877 128,413 148,299 175,486 225,632 276,575 312,815 372,805 426,841

Repayments including Interest

£ $7,439 53,656 51,643 5 5,283 63,064 67,789 74,061 72,487 80,159 88,470 105,799 105,545 94.997 102,247 116,684 123,576 135,548 130,093 134,265 144,916 186,854 238,811 485,906 472,197 570,070 727,542 915,204

1,155,682 1,169,161 1,452,053 1,613,703

185

Net

Increase

£ 40 15,483 12,239 26,534 6,55 5 32,838 42,371 12,854 29,209 73,184 20,625 18,418 99,999 56,8 5 2 25,498 72,414 83,230 13,962 3,838 26,889 44,288 225,214 784,856 347,408 516,937 848,035 835,472 742,275 825,577

1,162,638

882,997

Page 206

INDEX

Abergele (District Office at), 124 Ainley, R., 9 Allen, B., 50, 157 Almondbury, 18, 63 , s6e Hulbert, C. A. ---, see King James's Grammar School Andrew & Ashwell, 141 Andrews, H. S., viii, 128 Appleton, R., & Son, 86 Armitage, E., 159 _ Armitage, R., 159 Armitage, T. (Director), 22, 24, 28, 30, 150 Armitage, W. H., 51-3, 78, 97, 161 Armitage & Norton 51-6, 61, 72, 77-8, 84, 97, 109, 127, 161 , see Armitage, w. H. , see Hughes, W. H ---, Norton, G. P. , see Sykes, H. ---, s¢e Walket, G. F. D. Armitage, Sykes & Hinchcliffe, viii-ix, 71, 118, 134, 156 , see Hinchclifie, A. E. T. , see Sykes, J. Arter, N. H., 126, 131, 134 Aston, W. H., 159

Bafifley (1926) Removals, Ltd, 139 Balfour, J. S., 58-9 Ball & Perelvaf 122 Barden, W., 30, 32, 46 Barnsley (Agency at), 78-9, 92, 98, 140 , see Gibson, J. , see Hinchcliffe, P. A. Barraclough, J. L., 9 Barrow, L., 118 Bate, J., 36, 53-4, 161 Batley (Agency at), 133 , see Parish & Clarke Bavm R. & Co., 129 Beall, 'G. H., 86—7 Bellman, Sir H., 95 Berry, C. L., 49, 7° Berry, J. G., 3, 5, I Bingley & District Bulldlng Society, 105 Binns, J., 139 B1nns J. A 105 Bmyon C. 58 95 Bisiker, T. D., 144 Blackburn, L., 101, 136 Blackpool (Agency at), 125, 132-5 , see Burns, J. , see Kaye, H. S. --- (District Office at), 132-5, 145 Blamires, J. (Director), 91-2, 99, 103-7, 115, 117-18, 152 Bolton (Agency at), 129, 139

187

Page 207

188 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

--, see Hudson, T. , see Thornley, J. & Son Booth, J. J. (Director), 79-83, 97, 108-10, 116, 125, 144, 148, 152 Boswell, J., Life of Samuel Johnson, 47 Bottomley, J., 56, 61, 71, 156 Bournemouth (Agency at), 126, 131, 134 , see Arter, N. H. , 562 Jackman & Masters Bower, W., Bradford Dlstnct Bank, Ltd, 98, 113, 118, 157, 162 Bradford Second Equltable Bmldmg Soc1ety, 28, 47, 80, 105, 120 Bradford Third Equitable Building Society, 47, 80 105 Brading, K., viii, 1, 6 Bridge, G. W., 133 Bristol (District Office at), 140, 145 , see Gibson, H. Britannia, 102 Britannia Buildings, Huddersfield, vii, 6, 9, 11, 14, 35, 76-7, 82, 84, 90, 92, 108, 115, 121, 125-8, 130-2, 135-6, 141 Broadbent, B. (Director), 118 Broadbent, H. (Director), 118, 126-30, 147-8, 153 Broman, J., 159 Brook, A., 113 Brook, E., 15 Brook, J. (Director), 68, 70-1, 152 Brook, N., 11 Brook, R., The Story of Huddersfield, 11 Brook, T. W., 118, 155 Brooke, Sit J. A., 159 Brooke, T. W., 57, 78-9 Broomfield, Fixby, 121 Brown, Quayle & Co., 12 Brown, T. A. (Director), 14, 150 Bruce, E. J. (Dlrector 91, 107, 114-22, 132, 135-41, 143-4, 147-8, 152 Buckley, N. B., viii Building Securities Co. Ltd, 58 Building Societies Act, 1874, 17, 40-1, 59, 160 , 1894, 56, 58, 61 Building Societies Association, 17, 19, 52, 56—60, 70, 75, 80, 82, 84, 87, 90-1, 93, 95-8, 100, 103-7, III, 116, 119, 124, 126, 128 (Annual Meetlngs of), 17, 19, 56—8 60, 70, 75, 80, 82, 84, 87, 90-1, 95-8, 100, 103-7, III, 116, 119, 124, 126, 128 -- (Meeting at Huddersfield), 17, 19, 93, 96, 98, 100, 103-7 Building Societies Gazette (The), viili-ix, 51, 58, 131, 139-40, 143-4 Building Societies Who's Who, 105 Burke, Mrs P., ix Burns, J., 125, 134 Bush, D. A., 63 Butler, J. D. 159 Buttrlck W. H Buxton Advertiser d? Herald (The), 137 Buxton (Agency at), 125, 129, 136-9, 143 , see Hayes & Son , see Hayes, V. , see Shufflebotham, F.

Calvert, F., 66 Campbell, A., 161 - Carter, W., 75, 126 Carter, W. R., 126

Page 208

INDEX 189

Cartmel, G. R., 140 Cartmel, S. M., 144 Castle Howard, 42 Chamberlain, Rt Hon. J., 95 Chambers, S., 10 Charlesworth, P., 92, 97 Chatham (Agency at), 130 ---, see Randall, W. E., & Sons Chatsworth House, 34-5 Cheltenham & Gloucester Building Society, 19 Chief Registrar of Friendly Societies, viii, 1, 6, 119, 160 Chingford (sub-branch at), 145 Christie, J. (Director), 27, 29, 31, 151 . Churchill, Lord R., 8 Clarke, F. J., 83, 103, 112, 118-19, 129 Clayton West, 83 Clemence, Mrs F., viii Cleckheaton (Agency at), 110-11, 123 ---, see France, A. & Co. , see Hartley, G. B. Clothing District Directory (IT he), 7 Cockroft, C., 9 Collinson, C. B. & Son, 114 Colwyn Bay (Agency at), 124 , see Speechley, R. J. Combined Scheme (The), 133, 135 Commercial Union Assurance Co., 7 Cook, G., 46, 48 County Advertiser (The), 52 County Fire Office, Ltd, 74 Courts (Emergency Powers) Act, 1914, 109, 111 Coventry (Agency at), 139 , see Crompton, J. --, see Marston & Sons Cox, T., 47 Craig, R. & Son, 91 Craven, Ju 3, §, 15, 21-2, 24-5, 27, 30, 33, 41, 49750, §2~3, 56, 156 Craven & Sunderland, 27, 49-50, 56 , see Craven, J. ---, see Sunderland, C. S. Crewe (Agency at), 130 ---, see Johnson, J. W. Crofton, near Wakefield, 129 Crompton, J. W. B., 139 Crosland, F. (Director), vii, 2-3, 5, 15, 20-69, 131, 147-9 Crosland, J., 37 Crosland, T. P., 82, 92, 108, 121, 125-7 Crown Hotel, Ripon, 32-3 Curzon, F., 7-8, 12 --, Reminiscences of My Life Work, 8

Daily Advertiser (The), 45 Darlington (Agency at), 86-8, 140 , see Beall, G. H. , see Kitching & Lee , see Watson & Heslop Davis, K., viii Dawson, J., 27, 46 Dawson, W., 3, 4, 161 Delph (sub-Agency at), 98

Page 209

190 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

, see Marsden Agency Denby Dale, 83 Denham, C. (Director), 3, 5, 14, 149 Derby (Agency at), 139 , see McIntyre, T. S. , see Richardson & Linnell Dixon, M., 2 Dodds, J. (Director), 3, 14, 149 Doncaster (Agency at), 79, 82-3, 88, 98, 103, 112, 115, 117, 119, 121, 140 , see Clarke, F. J. , see Hinchcliffe, P. A. , see Mahon, F. , see Ward, H. J. -- (District Office at), 145 Downey, T. P. (Director), 69 Drake, J., 159 - Dransfield, H., viii, 118 Duggan, H. G. (Director), 21-2, 150 Dukeries, Notts., 34 Duncan, T., 144 Duncombe Park, 42 Dyson, R. S. (Director), 62, 84, 91, 93, 148, 151 Dyson, Mrs S. L., 68 Dyson, T., The History of Huddersfield and District, 11

Earlestown (Agency at), 129 , see Hardie & Bullough Earnshaw, H., 83 Eastwood, F., 159-60 Eaton Smith & Downey, 156 Eddison, Taylor & Booth, 109, 125 Edinburgh (District Office at), 145 Elland (sub-branch at), 145 Emmott, H., 86 Emmott, W., 86 Equitable House Property Co., Ltd, 122

Farrar, J. B., 8 Fatkin, T., 105 Fawcett, W. (Director), 22, 23, 26, 150 Finance Act, 1910, 94-6 Fisher, G. M., 7 Fisher, J., 160 Fleetwood (Sub-office at), 141 Ford & Rimington, 129 Fountains Abbey, 32-3 France, A. & Co., 123, 139 Franey & Co., ix, 51

Gibson, H., 140 Gibson, J., 92 Gillingham (Agency at), 130 ---, see Randall, W. E. & Sons (sub-branch at), 145 Glaisyer, J. K., 161 Golcar (Agency at), 82 ---, see Lockwood, H. Gooch, R. D., 159 Goodall, C. A., 78, 107-8 Goodwin, J. (Director), 26-7, 29-30, 67, 69, 150

Page 210

INDEX 191

Grange, B., 47, 4 Greenwood J. (Dlrector), 48, 62, 151 Greenwood R. H., 129 Grimsby (Agency at) 126, 13 , see Baguley (1926) Removals Ltd

Haddon Hall, 35 Haigh, H. L., 98, 101, 123 Haigh, J. (Director), 43, 72, 79» 84-6, 89-93, 148, 151 Hainsworth, J., viii, 7-9 Halifax Bulldmg Soc1ety, viii, 7-8, 10, 12, 47, 61, 64, 85, 105 Halifax (District Office at), 136 139-40, 145 , see Cartmel, G. R. see Gibson, H. , see 'A. Hall T. H. (Dlrector), vii-ix, 31, 48, 69, 94, 121, 124-5, 128-9, 1 53, 139, 144 Hardie & Bullough, 129 Hare, C. K., 9 Hartley, G. B., 110-11, 123 Hayes & Son, 129, 136-8 Hayes, V., 136-8, 143 Hickson, C. (Director), 128 Hinchcliffe, A. E. T., 71, 80, 90, 104, 133-4, 156 Hinchcliffe, P. A., 98 Hirst, J. (Director), vii, 3, 5, 11, 13-14, 20-38, 60, 131, 147, 149 Hobbs, J. W. & Co. Ltd, 58 Holland, H. (D1rector), 41, 43, 62, 151 Holmes, Rev. B. J., 4 Holmes P. F. (D1rector), 86, 97, 115-21, 124, 126-8, 134-5, 147-8, 152 Holy Tr1n1ty Church, Huddersfield 141 Honley (Agency at), 77, 81, 91, 97—8, 116 , see Charlesworth, , see Smith, T. H. , see Thornton, J. House of Commons, Journal of, 17 House and Land Investment Trust, 58 Huddersfield Art Union, 7 Huddersfield Banking Co 24, 37, 50, 64, 73, 159, 162 Huddersfield Building Soc1ety, vii and passim --, Annual Meetings, 2-4, 13-14, 21-4, 27-34, 42, 45-7» 49-50, 53-4, 56-7, 59-61, 64—6 69-73, 756-8, 81, 83, 85-6, 88-9, 90-1, 92-4, 97, 99-100, 108, 110, 112, 114-15, 117, 120, 122-8, 130, 132, 135, 138, 140-2, 167-9 A Annual Reports vill, I, 4, 12-14, 21-4, 27-34, 45-7, 49-50, 53-4, 59-61, 64-6, 69—73, 6-8, 81, 83, 85—6 88—9, 90-4, 97, 99-100, 108, 112, 114-15, 117, 120, 122-8, 130, 132, 135, 138, 140-2 --, Coat of Arms, 117, 123 --, Presidents, 3, 5, 9, 14, 22-3, 26, 36, 43, 67, 70, 83, 86, 89, 97, 108, 115, 120, 122, 124, 126, 128, 130, 132, 135 ---, Rules, 1-6, 8, 15, 40-2, 52-4, 60-1, 90, 116-18 ---, Special Meetings, 40-1, 54, 90, 117-18, 167-9 --, Staff Superannuation Fund, 132 Huddersfield Chamber of Commerce 28 Huddersfield Chronicle (The), 78, 99 Huddersfield Corporation, 84-5, 87-8, 111-13 Huddersfield & County Permanent Building Society, 72 Huddersfield Directory é’ Year Book (The), 7 Huddersfield District Permanent Benefit Building Society, 9-10, 12 Huddersfield Equitable Permanent Benefit Building Society, 1 and passim Huddersfield Examiner (The), viii, 15, 18, 30-4, 42, 49, 63-4, 66, 73, 75, 78, 81, 88-9, 100, IIO, 114, 122, 130, 141

Page 211

192 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

Huddersfield Incorporated Law Society, 96, 119, 121 Huddersfield Infirmary, 45, 55, 107, 165 Huddersfield Mechanics' Institute, 8 Huddersfield Royal Jubilee, 45, 55 Huddersfield School Board, 2 Huddersfield Warehousemen & Clerks' Provident Association, 7 Huddleston, A. (Director), 31, 37, 42, 151 Hudson, T., 129 Hughes, W. H., 109, 161 Hulbert, C. A., Annals of the Church and Parish of Almondbury, 18

Ibberson, Miss H. (Mrs H. Kaye), 18, 42, 99, 103 Inland Revenue, 63-5 Inman, R. H. (Director), 70, 79, 93, 97-108, 116, 122, 124-6, 133, 138, 141-2, 147-8, 1952, 155 Interest Rates, 13, 37, 41, 64, 66, 72, 74, 80, 85, 109, 111, 115, 119-21, 123-4 Isle of Thanet Permanent Benefit Building Soc1ety, 104

Jackman & Masters, 126, 131 Jessop, J., 9 Jessop, T. Jessop,W H (Director), 72, 76, 97, 103-16, 120-2, 124, 147-8, 152 Jewitt, R., 86 John William Street, Huddersfield, 11, 20, 22, 37-9, 57, 68, 76, 90, 131 Johnson, J. W., 130 Johnson, Dr S., 47 Johnston, D., 161 Jowett B. V111 Jubb, A (D1rector), 44, 60, 62, 70, 152

Kaye, H., vii, 4, 8, 12, 14-103, 108, 140, 154 Kaye, Mrs H. , 56e Ibberson Miss H. Kaye, Sir H. G. (Dlrector), 134, 153 Kaye, H. S., 134-5, 141 Kaye, W. H., vii, 49, 55, 63, 65, 70, 73, 75-7» 79-82, $4, 86, 88, 90-1, 93, 97, 99-145,

153-4 Kaye, Mrs W. H., see Longbottom, Miss L. Kelly's Post Office Directory of the West Riding of Yorkshire, 7 King James's Grammar School, Almondbury, 18, 49, 63 King Street, Huddersfield, 1-3, 7, 11-12, 131 Kirk, F. 96—7, 109 Kirk, J., 32, 44-5, 79, 81, 96 Kirk, J. S., 31-3, 37, 44-6, 56, 66, 71, 19-82, 96-7 Kirk, J. & Sons, 3, 5, 32, 44, 91, 96, 109 Kitching & Lee, 86 G. O., viii

Lands Allotment Co., 58 Lawford, T. H., 13, 32, 35, 48, 7475

Lee, A. H., Leeds (Agency at), 79, 123, 139 , see France, Co.

, 560 Walker V. S. & Son Leeds & Holbeck Building Society, 47, 80, 105 Leeds Permanent Building Society, 28, 47, 61, 64, 80, 105 Leeds Provincial Building Society, 80 Legal & General Assurance Society, 133, 135 , see Bridge, G. W. _ , see Hall, T. H. Leicester (Agency at), 140-1

Page 212

INDEX 193

--, see Andrew & Ashwell ---, see Murray, S. & Haldane Leigh, T., 62-3 Leigh-on-Sea (sub-branch at), 145 Lewis, D., 19, 105-6 Liberator Permanent Benefit Building Society, 58-60 Liverpool (District Office at), 44, 102, 145 Liverpool & London & Globe Insurance Co., 138 Liversedge, H. G., 92 Lockwood, H., 82 Lockwood, S., 101-2, 136-9 Lodge, A., viii, 44, 102 Lodge, W., 101 London (Agency at), 128 , see Smith, J. H. --- (District Office at), 128, 145 London City & Midland Bank, 73, 78, 84, 87-8, 98, 162 Longbottom, H. F., viii Longbottom, Miss L. (Mrs W. H. Kaye), 70, 141 Longwood (Agency at), 98, 113 , see Brook, A. --, see Smith, A. Lowe, J. & Sons, 129

Macnaught, D. K., ix, 135 Mahon, F., 119 Mallinson, W., 4, 29, 34, 40, 4374) 57) 155 Manchester (Agency at), 119, 136 , see Turnbull, T. & Sons -- (District Office at), 145 Maney, A. S., ix Marsden (Agency at), 77-8, 81, 98, 107-8 ---, see Goodall, C. A. , s6e Russell, F. , see Delph, Saddleworth and Upper Mill Marsden U.D.C., 126 Marsh, R. H., 95, 105 Marston & Sons, 139 McIntyre, T. S., 139 Mellor, T. K. (Director), 26, 43, 50-1, 66, 69-70, 72, 78-9, 82-90, 125, 127, 129, 147-8, 151, 155 Mellor, W., 3, 9, 28-9, 40, 45, 57, 155 Meltham (Agency at), 13, 32-3, 35, 39, 48-9, 74-5, 117, 126 --, see Carter, W. --, see Carter, W. R. --, see Lawford, T. H. Midland Bank, Ltd, 138 Mirfield (Agency at), 139 , see Binns, J. Moore, T. H. (Director), 89, 110, 112-16, 122, 130-6, 147-8, 152 Murray, S., & Haldane, 140

National Association of Local Government Officers (N.A.L.G.O.), 129-31 National Provincial Bank Ltd, 98, 118, 123-4, 138, 162 National Westminster Bank Ltd, 98 Nelson, R. (Director), 68, 85-6, 152 Netherwood, F., 101 Newstead Abbey, 55 Newton, Rev. T., 47

Page 213

194 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

North British & Mercantile Insurance Co., Ltd, 74, 138 Norton, G. P., 51, 55-6, 61, 65-6, 69, 73, 76, 109, 126-7, 138, 161 Nottingham (Agency at), 129 , see Bavin, R. & Co

Oldham (Agency at), 127 ---, see Seal, J. J.

Parish & Clarke, 133 Penistone, 83 Paterson, H. L., 92 Pontefract, A., 72 Pontefract Sessions, 2 Porritt, A., viii 140 Pratt, J T Price S. J., Buzldmg Societies. Their Origin and History, viii, 17, 59, 63, 94-6, 110 Pullan F., 41

Queen Victoria, 33, 45, 74

Radcliffe, H. (Director), 23 Radcliffe, J. (Director), 23, 26-7, 150 Radcliffe, L. (Director), 23, 68, 78-80, 82-4, 92-7, 103, 107, 115-16, 120, 122-4, 126-8, 135, 147-8, 152, 155 Radcliffe, W. (Director), 23, 27, 29, 34-8, 79, 81, 151 Ramsden, Sir J. W., 85 Ramsden, R. & Co., 124 Ramsden, T. L., 121 Randall, W. E. & Sons, 130 Real Estates Co. Ltd, 58 Record of Progress (A), 133-4 Richardson & Linnell, 139 Rievaulx Abbey, 42 Riley, R. (Director), 62, 76, 78-9, 81-2, 84, 87, 89-93, 111, 114, 147, 151 Ripon Cathedral, 32 Rippon, Col R. (Director), 89 Rippon, W., 9-10 Roberts, R. (Director) 3, 5, 13-14, 148-9 Roberts, W. (Director), 37, 42, Robinson, W., viii, 1 Robson, O. R. , AA Hundred Years of the Halifax, 7 Rock Permanent Building Society, 95 Rotherham (Agency at), 92 140 , see Liversedge, , see Paterson, H. L. Royal Insurance Co. Ltd, 108 Russell, A. C., viii, 102 --, 'The Good Old Days' Russell, F., 108 Rutland Arms, Bakewell, 35

Saddleworth (sub-Agency at), 98 , see Marsden Agency Scholefield, J. (Director), 3, 5, 13, 20, 22, 147, 149 Scottish Provincial Assurance Co., 39 Scratchley, A., Treatise on Benefit Building Societies, 17 Scunthorpe (Agency at), 118, 129 , 56€ Buttrlck W.

--, see Clarke, F. J. & Co.

Page 214

INDEX 195

Shaw, H. Tor aw, H. (Director), 2, 3, 5, 20-1, 14 Shaw, J. E., 68 9 Sheffield (Agency at), 91, 140 --, see Craig, R. & Son ---, see Paterson, H. L. Shelley (Agency at), 30, 32-3, 39, 46-9, 86 ---, see Barden, W. ---, see Cook, G. ---, sge Emmott, H. ---, see Emmott, W. Shirtcliffie, D. D., 57 Shufflebotham F., 139 Sikes, Sir C. W., 157, 159 Skelmanthorpe, 83 Slaithwaite (Agency at), 47, 49, 70 ---, see Berry, C. L. , see Grange, B. , see Sykes, C. W. Slaithwaite Guardian (The), 70 Slater, G. (Director), 30, 36-7, 43, 48, 151 Small Houses Acquisition of Ownership Bill, 1899, 95 Smeeton, C. (Director), 3, 5, 14, 21-2, 24, 26, 149 Smith, A., 98, 113 smith: J" 2~5, 8-18, 20, 74-5, 154 Smith, J. D. E. (Director), 69, 134, 144 Smith, J. H., 128-9 Smith, S., 144 Smith, T. H., 98 Snow, Lord, vii Somers, D., 144 Southport (Agency at), 122 ---, see Ball & Percival Sowden, J., 10 Spen Valley, 111, 123 Speechley, G., 124 Speechley, R. J., 124 Spriggs, Mrs S. M., ix St Annes-on-Sea (Agency at), 129, 132 ---, see Greenwood, R. H. --, see Kaye, H. S. -- (District Office at), 141, 145 St George's Square, Huddersfield, 11, 76, 131 St Peter's Street, Huddersfield, 6, 35, 76, 131 Stewart, A., viii, 121, 125, 135, 143-4 Stockport (Agency at), 129 ---, see Ford & Rimington -- (District Office at), 102, 145 Stocks, Sykes & Hickson, 128 ---, see Hickson, C. Stockton-on-Tees (Agency at), 86, 88, 140 ---, see Appleton, R., & Son ---, see Jewitt, R. Stockton-on-Tees Equitable Building Society, 130 Stoke-on-Trent (Agency at), 139 ---, see Williams, S. R. Stott, T. H., 72, 157 Stottart, J., 68 Stringer, R., 39 Studley Royal, 32

Page 215

196 HUDDERSFIELD BUILDING SOCIETY, 1864-1928

Stuttard, J. H. (Director), 14, 21-3, 25, 27, 29-30, 32, 36-8, 47, 53, 55, 62, 65, 67-83, 89, 91, I4-7"'8> 150 Sunderland, C. S., 27, 49-50 , see Craven & Sunderland Sunderland Working Men's Benefit Building Society, 63 Sykes, A., 97 Sykes, C. W Sykes, D. F. E Tbe History of Huddersfield and its Vicinity, 11 Sykes, E. G. R. (Director), 125, 144 Sykes, H., 61, 71-2, 127, 161 Sykes, J. (Director), 22, 24, 27, 150 Sykes, J. (sohc1tor), 71, 86, 156 Sykes, J. H Sykes,J W 5 3-4, 161

Taylor, J., 9 Taylor, J. 'D. ., 105 Temperance Permanent Building Society, 95 Tetley, F., 144 Thomas, W. E., 3-4, 27-8, 36, 161 Thornley, J. & Son, 139 Thornton, J., 77, 91 Thwaite, H ix Tindall, 'C. (Dlrector), 14, 21-2, 150 Tumbull, T. & Sons, 119

Union Discussion Society, 69, 83 Union of London & Smith's Bank, 112-13, 115 Upper Mill (sub-agency at), 98 , see Marsden Agency

Varley, J., 43 Vickerman, C. (Director), 14-15, 21-3, 25, 28-9, 31, 36-7, 48, 51, 58, 62, 148, 150

Wakefield (Agency at), 129 , see Lee, A. H. Wakefield Bulldlng Society, viii, 135 Walbank, N. H , 105 Walker, A 159 Walker A. E. (Director), 111, 115, 128-32, 147-8, 153 Walker G. F. D., 127, 161 Walker, V,. S. & Son, 139 Wallasey (Agency at), 114 , see Collinson, C. B. & Son (sub-branch at), 44, 145 Ward, H. J., 83, 98 Waterhouse, P. & M., 128 Watson & Heslop, 87 WCbb, J’ E. (DirCCtor)s 22, 24, 27, 29-30, 47, 51, 54, 56: 58, 68—70: 148, 150 Weekly News (The), 42 Welbeck Abbey, 37 West Riding Union Banking Company, 3-5, 24, 161-2 Western Life Assurance and Annuity Society, 17 White W., Directory of Leeds, Bradford, Huddersfield, etc., 7 Whiteley, J., 50 Wigan (Agency at), 129 , see Lowe, J. & Sons Wilby, A. E. & Son, 83 Wilkinson, S., 116 Williams, S. R., 139

Page 216

INDEX

Willans, J. E., 57, 61, 71, 78, 133, 155 Wood, E., 95-6, 103-4 Wood, R. (Director), 14-15, 21, 150 Woodcock, W. H. (Director), 2, 3, 5, 20, 22, 48, 149 Woodhead, E., 76 World War I, 108-20 World War II, viii, 145 Wrigley, W., 78, 155

197