Discussing tenders from Fisher's and from Rogers. Clive [Fr Birch] running into the red - overdrafts were normal for Roland [Fr Connelly] although not so high; Fr Wilson to advise. John Hawkes' plan welcomed. Point about letting a church hall out to Later Day Saints on a regular basis.
Clark, Alan Charles Rev DD (1919-2002)Overdraft
8 Archive Record results for Overdraft
Fr Wilson did not have funds for an interest free loan. Bishop happy with a short term overdraft. Need to be sure that before they are started, projects have sufficient funds and a budget. Fr Birch will soon be with you.
Clark, Alan Charles Rev DD (1919-2002)Asks for clarification on the points:
- extension of overdraft with Lloyds Bank - monies from sale put into that account?
- How to finance the work on Aelred House and building of garages is the answer to 1 is "no"?
- need £30,000 for Shrine during November to March - again if "no" to 1, how is it to be financed?
- Can Canon Kieran bequest look after the debt of £50,000 to the Diocese?
Need to sort things out to stay in a good relationship with Lloyds Bank (especially the new manager).
Requesting overdraft facilities to £5000 for 1975. Starting New Year with little in the bank as a result of keeping costs in line with income. Hence little in reserve for operating expenses. Will raise hostel prices and expect to have £5000 at the end of the year for carry forward to the next year.
Connelly, Roland William Rev SM MA (1921-2004)Encloses documents [not present] signed as requested. Bank will only allow an overdraft with several guarantors plus at 5%. Must look elsewhere.
Wrigglesworth, George Rev (1851-1900)Sorry to hear that Bishop Grant is in hospital. Will accept Fr Moorcraft's letter confirming £2000 overdraft. Review in November
Lloyds Bank LtdAuthority required by the manager of Lloyds Bank in Fakenham to extend the £30,000 overdraft to £45,000. Refers to a report t the Executive Committee detailing large expenditure. Bank manager has been exceedingly helpful
Warwick, Bernard CFr Wilson would not provide a loan; due to arrange an overdraft but deposit cheques arrived and Fr Rimmer has promised £1000.
The Walsingham Association have promised to raise funds for this building. Maintenance men will fix the windbreak at the outside altar.