8, PEEL STREET,

MAIDSTONE,

September, 1931

BROTHERS-IN-TRADE

In presenting you with a Financial Statement for the past year, I regret to report a loss of £727 14s. 3½d. on the year.

Following a year when we showed a saving of £108 2s. 8 ½d., we assumed it possible to reduce the contributions by 1s. per month for a year. In this we were much too optimistic, although those whom we look upon as experts considered a revival in the trade was imminent. This has proved false, for during the first half we suffered a loss of £121 12s. 11 ½d. The depression in trade, which has affected almost every civilized country, increased in intensity as the year went on, the Hand-made Trade suffering among them.

It will be seen that Clerks paid out £484 19s. 7d. more in Trade Pay than last year, to which is added £23 5s. 10d. extra paid by Secretary. There was also a corresponding curtailment in Contributions of approximately £368 14s. 0d.during the same period.

A small increase in Superannuation Benefit of over £17 0s. 0d. is accounted for by those members, who are usually employed casually, not being required so much.

In arriving at the membership figures it will be seen that those working at Darenth have been included, for although we regret this Mill is now closed, this did not occur until May, but had been working over the period covered by the Mill's Balance Sheet, so are not included as being on Trade Pay as they were at the close of the year, as were those at Hawley, which as you know is now also closed. The closing of these Mills does not improve our position, for both have been a reliable source of revenue in the past, and it is most regrettable that the majority of our members who have been employed at these Mills are at present out of work.

It is sincerely hoped that an appreciable increase in trade will occur during the present year, which will warrant putting those Mills on full time who have had such long lay spells on a reduced basis, and so place the Hand-made Paper Trade on a footing worthy of a craft of so many years standing.

In conclusion, may I return thanks to the Mills' Clerks who have officiated during such a difficult period; also to those friends who have helped me with suggestions and advice, and I greatly appreciate the confidence shown by the Trade in general in retaining me as Secretary, and I hope such confidence will not be found misplaced.

Yours fraternally,

A. H. SMITH, Secretary