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The Pamphlet Collection of Sir Robert Stout: Volume 7

XII.—Interest and Profits

XII.—Interest and Profits.

Interest shall be allowed on investment shares at the rate

Interest on Investment Shares fixed.

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 the year.
At the close of the third financial year of the Association,

Profits to be allotted annually after third year.

and of each succeeding year, all investment shares of three years' standing shall be entitled to an equable proportion of three-fourths of the profits, which shall be annually added to their value, but no profits shall be allowed for any period less than half a year. The remaining one fourth shall be carried to

Reserve Fund to be formed.

the credit of a fund, to be called "the Reserve Fund," which page 12 shall accumulate and be appropriated as the Board of Directors may from time to time determine; subject, nevertheless, to the approval of the Anuual Meeting.

Investor's Scale of Payments.

The subjoined Table A (which shall be considered as forming part of these rules) shows the value of one investment share, at every monthly meeting of the Association, until it is of the value of £50, exclusive of the profits; and any member withdrawing will receive the amount stated therein, together with any profits to which, by the rules, he may be entitled.
page 13
First Year. Second Year. Third Year. Fourth Year. Mth. £ s. d. Mth. £ s. d. Mth. £ s. d. Mth. £ s. d. 1 0 5 0 1 3 5 4 1 6 9 11 1 9 19 0 2 0 10 0 2 3 10 8 2 6 15 7 2 10 5 1 3 0 15 0 3 3 16 0 3 7 1 4 3 10 11 3 4 1 0 0 4 4 1 4 4 7 7 1 4 10 17 4 6 1 5 0 5 4 6 9 5 7 12 9 5 11 3 6 6 1 10 0 6 4 12 1 6 7 18 6 6 11 9 7 7 1 15 0 7 4 17 5 7 8 4 3 7 11 16 9 8 2 0 0 8 5 2 9 8 8 9 11 8 12 2 10 9 2 5 0 9 5 8 1 9 8 15 8 9 12 9 0 10 2 10 0 10 5 13 6 10 9 1 5 10 12 15 1 11 2 15 0 11 5 18 10 11 9 7 1 11 13 1 3 12 3 0 0 12 6 4 2 12 9 12 10 12 13 6 4 Fifth Year. Sixth Year. Seventh Year. Eighth Year. Mth. £ s. d. Mth. £ s. d. Mth. £ s. d. Mth. £ s. d. 1 13 12 11 1 17 12 0 1 21 16 8 1 26 7 3 2 13 19 6 2 17 19 0 2 22 4 2 2 26 15 3 3 14 6 0 3 18 6 0 3 22 11 8 3 27 3 3 4 14 12 7 4 18 13 1 4 22 19 2 4 27 11 4 5 14 19 1 5 19 0 1 5 23 6 8 5 27 19 4 6 15 5 8 6 19 7 1 6 23 14 2 6 28 7 4 7 15 12 3 7 19 14 1 7 24 1 8 7 28 15 5 8 15 18 9 8 20 1 1 8 24 9 2 8 29 3 5 9 16 5 4 9 20 8 1 9 24 16 8 9 29 11 5 10 16 11 11 10 20 15 2 10 25 4 2 10 29 19 6 11 16 18 5 11 21 2 2 11 25 11 8 11 30 7 6 12 17 5 0 12 21 9 2 12 25 19 2 12 30 15 6 Ninth Year. Tenth Year. Eleventh Year. Tweleth Year. Mth. £ S. d. Mth. £ s. d. Mth. £ s. d. Mth. £ s. d. 1 31 4 2 1 36 7 10 1 41 18 9 1 47 17 6 2 31 12 9 2 36 17 0 2 42 8 7 2 48 8 0 3 32 1 4 3 37 6 2 3 42 18 5 3 48 18 6 4 32 9 11 4 37 15 5 4 43 8 3 4 49 9 1 5 32 18 6 5 38 4 7 5 43 18 1 5 49 19 7 6 33 7 1 6 38 13 9 6 44 7 11 6 50 10 1 7 33 15 8 7 39 3 0 7 44 17 9 8 34 4 3 8 39 12 2 8 45 7 7 9 34 12 10 9 40 1 4 9 45 17 5 10 35 1 5 10 40 10 7 10 46 7 3 11 35 10 0 11 40 19 9 11 46 17 2 12 35 18 8 12 41 8 11 12 47 7 0

Table A. Investor's Scale of Payments.

Table

Ultimate Value of Share, £50.

Investment at 7 per cent., Compound Interest (interest computed annually, and allowed monthly). Subscription, 5s. a month.

The Table shows the value of a Share for each Month after payment of the Month's Subscription, irrespective of the profits as provided by the rule.