Poverty : a study of town life / by B. Seebohm Rowntree.

  • Seebohm Rowntree
Date:
1902
Catalogue details

Licence: In copyright

Credit: Poverty : a study of town life / by B. Seebohm Rowntree. Source: Wellcome Collection.

    388/472 (page 352)
    SUPP. The Society was founded in 1858, with a member- ship of nine. Business was commenced at 14 Market Street in March of the following year, the members then numbering 130, with a share capital of £26:4: 3. For over a quarter of a century the Society’s history was one of continual struggle and difficulty. In 1883 the Society became a member of the Co- operative Wholesale Society, and a change of manage- ment was made which somewhat improved matters. The year 1888 appears to have been the turning point in the Society’s career, as during that year the membership more than doubled, and considerable improvement was manifested in the sales and profits, and a reserve fund was also inaugurated. From this time the growth of the Society has been rapid and continuous, as the following figures testify :— No. of Stores. No. of Members. Share Capital. Reserve Fund. Sales. £ £ £ 1888 1 438 635 4 3,420 1893 6 2669 8,069 386 44,558 1898 16 5800 37,895 3082 124,513 1899 18 6666 48,122 3566 140,211 1900 21 7250 59,887 2213 1 167,337 Since 1894 the profits of each quarter have allowed a bonus of 2s. 4d. in the pound (except once when the bonus was 2s. 3d.), and during the last seven years £86,417 has been divided amongst the members, in addition to 5 per cent interest on their shares. 1 Transfer of £2000 made to depreciation account.