ISBN: 9781458835741

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustra… Altro …

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1910. Excerpt: ... I CHAPTER XXV The Manchester City News, January 14th, 1893, printed:--Co-operation. The Wholesale Society. By H. B. Wilkinson. Will the historian of the year 1900 record the continued existence of the Wholesale Society, supported as it is to-day by the voluntary contributions of the thrifty Lancashire middle-classes, through their deposits in their favourite but illegal savings banks? The Co-operative Stores, being established under the Industrial and Provident Societies Act of 1876, are not permitted to engage in banking or to take money on loan, as they do to-day up to 40 per annum, until the members'' shares amount to 200 each. In October last the Co-operative Societies realised their position under the pressure of the then recent events in London, that their system was lax and unintentionally illegal, for only societies who had no withdrawable share capital are empowered under the Act 1876, to engage in banking business. Clause 10, section 2, subsection (c) is, The taking deposits of not more than five shillings in any one payment, nor more than twenty pounds for any one depositor, payable on not less than two clear days'' notice, shall not be included in the business of banking within the meaning of this Act; but no society which takes such deposits shall make any payment of withdrawable capital while any claim due on account of any such deposit is unsatisfied. Clause 10, section (3), is as follows: It shall be an offence under this Act if any registered society carries on the business of banking having any withdrawable share capital (d) makes any payment of withdrawable capital contrary to the provisions hereinbefore contained. But as that Act did not put any limit to the amount which retail Co-operative stores might invest in any'' other register... Henry Broadhurst Wilkinson, Books, History, Old Hanging Ditch; Its Trades, Its Traders And Its Renaissance Books>History This is an OCR edition without illustrations or index. It may have numerous typos or missing text. However, purchasers can download a free scanned copy of the original rare book from GeneralBooksClub.com. You can also preview excerpts from the book there. Purchasers are also entitled to a free trial membership in the General Books Club where they can select from more than a million books without charge. Original Published by: Sherratt & Hughes in 1910 in 330 pages; Subjects: Manchester (England); Greater Manchester; Merchants, British; Cooperation; Merchants; Business & Economics / Industries / Retailing; Business & Economics / Sales & Selling; History / General;<

ISBN: 9781458835741

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustra… Altro …

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1910. Excerpt: ... I CHAPTER XXV The Manchester City News, January 14th, 1893, printed:--Co-operation. The Wholesale Society. By H. B. Wilkinson. Will the historian of the year 1900 record the continued existence of the Wholesale Society, supported as it is to-day by the voluntary contributions of the thrifty Lancashire middle-classes, through their deposits in their favourite but illegal savings banks? The Co-operative Stores, being established under the Industrial and Provident Societies Act of 1876, are not permitted to engage in banking or to take money on loan, as they do to-day up to 40 per annum, until the members'' shares amount to 200 each. In October last the Co-operative Societies realised their position under the pressure of the then recent events in London, that their system was lax and unintentionally illegal, for only societies who had no withdrawable share capital are empowered under the Act 1876, to engage in banking business. Clause 10, section 2, subsection (c) is, The taking deposits of not more than five shillings in any one payment, nor more than twenty pounds for any one depositor, payable on not less than two clear days'' notice, shall not be included in the business of banking within the meaning of this Act; but no society which takes such deposits shall make any payment of withdrawable capital while any claim due on account of any such deposit is unsatisfied. Clause 10, section (3), is as follows: It shall be an offence under this Act if any registered society carries on the business of banking having any withdrawable share capital (d) makes any payment of withdrawable capital contrary to the provisions hereinbefore contained. But as that Act did not put any limit to the amount which retail Co-operative stores might invest in any'' other register... Henry Broadhurst Wilkinson, Books, History, Old Hanging Ditch; Its Trades, Its Traders And Its Renaissance Books>History, General Books LLC<