ABSTRACT
In 1888, however, a development of the co-operative principle more nearly in accord with the early ideals in regard to housing was commenced upon the initiative of Mr. Benjamin Jones, then hon. secretary of the southern section of the Co-operative Union. To let the society's houses at fair and usual rents, according to the locality, and variable as the committee deem necessary. To pay a fixed rate of interest on capital, and to divide all the surplus profits, after providing for expenses, repairs, depreciation, etc. among the tenants, in proportion to the rents paid by them. The society is managed by an unpaid committee on the lines usually adopted by co-operative stores, including the rule that each shareholder has one vote only, irrespective of the amount of tenants holding of capital. The society's houses are situated in five districts, viz. at Penge, Upton Park, Plashet, Camberwell, and Epsom, and include cottages, double tenement houses, and a block of fourteen flats.
