The Stourbridge Observer, Cradley Heath, Halesowen & District Chronicle.
Stourbridge, West Midlands, England, 1875-08-21 00:00:00

KIDDERMINSTER CARPET WEAVERS'
ASSOCIATION.

On Tuesday a meeting of the members of the
Kidderminster Carpet Weavers' Association was
held in the Theatre, Oxford Street, Kidderminster,
for the purpose of considering the desirability of
withdrawing the funds at present deposited in the
bank in the name of the individual trustees and
of reinvesting the same in the name of the associ-
ation. The president of the association, Mr. C.
North occupied the chair. When the carpet
weavers' society was first formed the committee
were unable to secure its registration, and all
funds invested in the banks were placed there in
the names of private trustees who were members
of the association. Much difficulty has since
arisen in obtaining the money of trustees who had
since become deceased or had absconded the
sianatures of many persons being required for
that purpose. About .£BOO. remains in the bank
in this doubtful state, and much correspondence
has taken place between the secretary of the as-
sociation and the Registrar General on the subject.
The association has recently been registered under
the Trades Union Act, which gives them power to
invest money in the name of the society. The
president having explained the object of the meet-
ing, Mr. R. Gwillam moved, "That, in the
opinion of this meeting, it is desirable that all
moneys invested in the names of individual mem-
bers should be withdrawn as soon as possible, and
invested in the name of the society, and that,
trustees be duly appointed by this meeting to act
for the whole body; old trustees who may be
compelled to lose time from their employment for
the purpose of withdrawing the money to be
remunerated according to rule 8." He regretted
that such a step had not been taken some time
ago, because every month that the money re-
mained in the bank as at present a greater risk
was being incurred. He hoped the meeting would
elect trustees, whose moral character would bear
the strictest investigation, from their own body,
and not adopt the suggestion which had been
made of electing private gentlemen in the qown.
Mr. W. Holloway seconded the motion, which
gave rise to a long and animated discussion.
The Secretary said it was impossible for them
to transfer the money from the trustees to the
society, so that the bulk now in the bank would
havetto be:withdrawn and reinvested. The .23,000.
set apart for superannuation purposes, he recom-
mended should form a seperate investment (Hear,
hear.)

Mr. Lane thought some legal test should have
been made relative to the money in the names
of deceased members before they took the final
step of withdrawing the whole.
The resolutions was ultimately carried, and
Messrs. Hill, Whittaker, Fletcher, G. Wright, and
J. Aston, were appointed trustees on behalf of the
body, the Secretary explaining that when money
was required to be withdrawn it would he necessary
to obtain the signatures of the chief officers of the
association and trustees to a document for the
purpose. _ _ _

Ii was decided that the trustees elected should
be debarred from holding any office connected
with the commiltee of management.