Victorian Bournemouth (243) has explored events that concerned Bournemouth’s two Perfect Thrift Building Society funds. Newspaper reports suggest that the savings society perhaps achieved a measure of success. Several people won the lottery prizes, although the draws did not happen often. Malpractice lay not far from building societies at this time and may have reached Perfect Thrift, in Bournemouth and across the network. The founder disappeared after a large shortfall emerged at Leeds, while the secretary at Bournemouth took his family to Valparaiso in 1896. Nevertheless, some working people at Bournemouth, attracted by the dream of thrift, economy, and independence, found themselves assisted by their Perfect Thrift.
Tag: property investment
Victorian Bournemouth (59): a rash of bankruptcies
Introduction Victorian Bournemouth (59) explores how, while sixteen residents went bankrupt between 1856 and 1866, in the following three years this happened to forty-one people. In 1869, the new Debtors’ Act reduced the inevitability of prison sentences for convicted bankrupts. While this may have increased a willingness to declare, the bankruptcies’ cause perhaps lay elsewhere. […]