XIV.—Interest and Profits.

Interest shall be allowed on B Investment shares at the 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 the year.

After provision for interest on the A and B Shares the profits shall be divided in the following manner One-fourth shall be carried to a Reserve Fund, and the remaining three-fourths divided proportionately between the A and B Shares. The Profits on the A shares shall be paid annually; but, on the B Shares, shall be applied as hereinafter provided.

At the close of each financial year of the Association, all B 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 on any fractional part of a year.

The Reserve Fund shall accumulate and be appropriated as the Board of Directors may from time to time determine; subject, nevertheless, to the approval of the Annual Meeting.

Table A (appended to these Rules) shows the value of one B Investment share, at every monthly meeting of the Association, until it is of the value of £50, and any member withdrawing, will receive the amount stated therein, together with any profits to which, by the Rules, he may be entitled.