Page 450 - The_story_of_the_C._W._S._The_jubilee_history_of_the_cooperative_wholesale_society,_limited._1863-1913_(IA_storyofcwsjubill00redf) (1)_Neat

The Story of the C.W.S,

club and a benevolent fund already being in existence, at the instance
of their combined committees a crowded meeting of employees was
held after working hours on January 25th, 1904, in the old meeting
hall at Balloon Street. The business was the formation of a thrift
fund against old age ; and as an outcome of the meeting the creation
of a fund was proceeded with. A deputation from the promoters to
the C.W.S. Committee asked that the Society should deduct the
subscriptions from the wages at the time of payment, and should
receive these on deposit, at interest. A further petition invited the
Society to follow the example of municipal corporations and railway
companies by supplementing the subscriptions. On this latter point
the Committee came to the Quarterly Meetings in June, 1904,
proposing a grant of 1 j per cent, or 3d. in the £, on the wages of all
employees joining the fund. The rules already adopted for the latter
provided for subscriptions of 9d. in the £, or 6d. in the £ for those
earning less than 40s. weekly. These contributions were to
accumulate in a sum withdrawable only upon the employee leaving
the Society, or retiring through old age or incapacity, or at death.
Provision was made, however, for a partial withdrawal in case of
distress. Membership was optional, but an employee once a member
must so remain. Out of 1,200 members then possible at Balloon
Street, over 400 had joined the fund by the middle of 1904.
Together with the proposal of the Committee there came to the
delegates an amendment from the Manchester and Salford Society,
desiring a grant of 3d. in the £ on weekly wages of over 30s., and 6d.
in the £ on wages of all below this figure. But the final arbiters
were not in a hurry to face the question. In June, 1904, the
consideration of the problem was adjourned till December, then
adjourned again until June, 1905, then put off for a year—until
the constitutional issue should be out of the way—and then relegated
to the December of 1906. At this point, when the Committee's
recommendation and the Manchester amendment promised to
" "
appear together every season indefinitely, like twin stars on a
play bill, a companion amendment from the Gateshead Society was
accepted. The successful proposal, which required a joint committee
"
of the Executive of the Society and its servants to formulate a
scheme for an employees' thrift fund," itself was eighteen months
old. Under such circumstances, the Beswick Society now suggested
an early date for the report, and took the further precaution of
naming June, 1907, as the time for considering it. The Beswick
motion also receiving approval, the joint committee got to work
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