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The Pamphlet Collection of Sir Robert Stout: Volume 7

XV.—Interest and Profits

XV.—Interest and Profits.

1. Interest shall be allowed on investment shares at the

Interest on investment shares fixed.

rate of Seven Pounds per centum per annum and shall be added to each share monthly, the amount added each month being one-twelfth of a year's interest on the value of a share at the beginning of a year.
2. At the close of the third financial year of the Society and

Profits to be al-lowed annually after third year.

of each succeeding year all investment shares of three years' standing shall be entitled to an equal proportion of three-fourths of the profits, which shall be afterwards annually added to their value, but no profits shall be allowed on any fractional part of a year.
3. The remaining one-fourth shall be carried to the credit

Reserve Fund to be formed.

of a fund to be called "The Reserve Fund," which shall accumulate and be appropriated Directors nay from time to time determine, subject nevertheless to the approval of the annual meeting. The subjoined Table A, which shall be considered as forming part of these Rules, shew the value of one investment share at every monthly meeting of the Society until it is of the value of £50, exclusive of the profits, and any Member withdrawing will receive the amount sited therein together with any profits to which by the Rules he may be entitled.

Table A. Investor's Scale of Payments. Ultimate Value of Share, £50.

Investment at £7 per cent. compound interest (interest computed annually) and allowed monthly. Subscription, 5s. a moth. The Table shews the value of a share for each month after payment of the monthly subscription, irrespective of the profits as provided by the Rule XV.

page 12
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