Page 34 - Needles Lodge 2838 History

result: 28 for, 2 against and 12 abstentions. The motion was

declared carried as required by Rule 141 BOC.

Bro. Chris Jarman reported that during the review of a significant

number of legal documents obtained from the solicitors in

preparation for completion of the sale of the building, and to

ensure there are no loose ends, the documents revealed that one

element relates to a loan from Needles Lodge No. 2838 to

Needles Royal Arch Chapter dated 11 November 1930. This loan
was subject to the annual interest of £2.10s and has no fixed

period. Moreover, a loan guarantee document exists whereby W.

Bros Cleary, Lee, Pratt, Gorlick, Fletcher, Milne, Clarke and

Thearle provide an indefinite guarantee for the loan. Upon the

move to new premises, the loan seems to have continued. There is

no record in the documents of the interest on the loan ever being

paid to Needles or indeed the loan having been redeemed.

The Treasurer, W. Bro. Rod Dennison then made the following

proposition: That Needles Lodge No. 2838 agree to forgive the

original capital (£50) and 85 years of accumulated compound

interest on the loan to Needles Chapter dated 11 November 1930

as reviewed and allowed to continue in 1964 and 1976 and hence

release the guarantors of said loan. W. Bro. Ian Foreman

seconded this proposal, and the brethren displayed their approval.

The Treasurer of Needles Chapter, W Bro Derek Cottell who was

present expressed his surprise about the existence of this loan and

thanked the brethren for formally closing the issue.

W. Bro. John Martin presented a 50-year certificate to W. Bro.

Freddie Pink that was issued in 2009 and held at the request of W.