Huddersfield Daily Chronicle (30/Oct/1877) - Huddersfield Equitable Permanent Benefit Building Society

The following is a transcription of a historic newspaper article and may contain occasional errors. If the article was published prior to 1 June 1957, then the text is likely in the Public Domain.

Huddersfield Equitable Permanent Benefit Building Society.

On Saturday evening last the annual meeting in connection with this society, was held in Wellington Hall, Queen Street, and was the best attended and most successful meeting ever held in connection with the society. The chair was occupied by the president, Mr. Councillor Joseph Hirst, St. Helens, Almondbury, who was supported by the vice-president, Mr. Fredk. Crosland, and Messrs. Chas. Vickerman, John H. Stuttard, Joseph Goodwin, and George Slater, directors ; and Mr. John Kirk (of Messrs. Jno. Kirk and Sons), the society's surveyor.

The report, as read by Mr. Henry Kaye, the secretary, showed the society to be in a most flourishing condition.

Mr. Hirst, on rising to move the adoption of the report, remarked upon the several items contained in the balance-sheet, and pointed out that the receipts in the share department alone amounted to the large sum of £39,246 11s., which showed an increase of £8,004 13s. 8d. upon the amount recorded in the previous year. The amount advanced was £31,435, which is an increase of £6,583 over the amount advanced daring the previous year. The Chairman drew the attention of the meeting to the stock account, which showed that the profits of the society were such that the directors had pleasure in recommending, for the fourth time, another annual bonus of 10 per cent on the interest for the past year, in which borrowers share equally with investors. Another pleasing feature in connection with the society was, that the large sum of £156,426 14s. had been advanced to borrowers without any loss having been incurred. Mr. Hirst concluded his observations by moving the adoption of the report, and that a bonus be declared.

Mr. Hoyle, in seconding the motion, referred to his long connection with the society, and his entire satisfaction with the way he had been treated. On this motion being put to the meeting, it was carried unanimously.

Mr. Cockshaw moved, and Mr. Marsden seconded the election of Messrs. Hirst, Crosland, Vickerman, and Huddleston as directors ; and on the motion of Mr. Mills, seconded by Mr. Grinrod, Messrs. W.E. Thomas and J.W. Sykes were re-appointed auditors. On these propositions being put to the meeting they were carried nem con.

Mr. Heywood, in moving a vote of thanks to the trustees and directors for their valuable services during the past year, remarked upon the benefits he himself had derived from the society, and paid a high compliment to the directors for the manner they had conducted its affairs. He further observed that the thanks of the members ought to take a more substantial form, and had therefore great pleasure in proposing that a present of 20 guineas be given the directors and officers for them to spend in such manner as they think fit.

This motion was seconded by Mr. Fisher, who stated that he had been in connection with the society from its establishment, and had more than ordinary pleasure in seconding the resolution, which, on being put to the meeting, was carried with acclamation.

Mr. Fredk. Crosland, one of the first directors of the society, returned thanks on behalf of the trustees, and in the course of his remarks pointed out the advantages to be derived by joining a well regulated building society, which he thought this society could lay claim to. Mr. Crosland then made reference to the figures contained in the report and balance-sheet, and explained the same in the clearest possible manner, and concluded by thanking the members for the assistance they had rendered the directors, particularly in obtaining borrowers daring the past year.

Mr. Charles Vickerman, who has been a director for the past twelve years, returned thanks on behalf of the directors, and in a very thoughtful speech spoke of the way in which this and similar societies encouraged to the greatest possible extent habits of thrift, upon which the working classes must greatly depend for making a provision against sickness and old age. He alluded to the large amount spent annually upon intoxicating drinks, and stated that, what with the drinking and improvident habits of this country, England was England's greatest curse. He made an urgent appeal to young men not to despise the day of small things, but to join the society and commence saving, be it 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 probably encourage in others those habits of thrift and self-dependence which lie at the very foundation of a man's success in life.

Mr. J.H. Stuttard, who has been a director of the society for ten years, made a few very appropriate remarks upon the results of small savings. He also referred to the large amount of business Mr. John Kirk himself had introduced to the society, and moved that the best thanks of this meeting be tendered to his son, Mr. James Kirk, for the care he exercised in valuing property submitted t» the directors for an advance. — This motion was seconded by Mr. George Slates, and supported by Mr. Joseph Goodwin, and on being submitted to the meeting, was carried with applause.

The Chairman, on replying to a vote of thanks to himself, remarked that he had been president of the society from its commencement, and so long as it was their pleasure to elect him, he would continue to do his best for the society.

After a few other remarks from some of the other members, the meeting terminated.