Merging Disaster Funds

 

coinsIt seems appropriate to post this today, given each 22nd October, people for many years were remembering the Blantyre Pit Disaster.

The annual meeting of the subscribers to the Blantyre and Udston Accident Funds was held on Monday 19th December 1927 in the secretary’s office, 146 Buchanan Street, Glasgow. This was an annual meeting to review how much was left in the “pot” from money raised for the victims families of the Blantyre and Udston Pit Disasters, some 50 years before.

The Lord Provost (Mr David Mason) presided. The annual report of the Blantyre Fund showed that the assets remaining amounted to almost £2,255 and that there were 10 recipients on the roll on October 22nd last year still receiving money from that fund. The fund was still sizeable despite only 10 people receiving annual payment, for £2,255 in 1927 would have been worth around £125k in today’s money.

The assets of the Udston Fund amount to £6,316 (about £350k today) there being only two recipients on the roll! It was explained that the funds should now be jointly administered with a view to managing the fund better and for the purpose of conserving the funds for the last elderly survivors.

From “Blantyre Explained” by Paul Veverka (c) 2016

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