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Eurozone sovereign bailouts likely to stop at Portugal

Town Hall for the former Borough of Morecambe and Heysham, Marine Road East, Morecambe LA4 5AF
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Image by mrrobertwade (wadey)
Town Hall and municipal offices. Foundation stone laid 7th August 1931, official opening 7th June 1931. Designed by the Borough Engineer, P.W.Ladmore, with facade design by Alfred William Stephens Cross, MA, V-PIAAS, his son, Kenneth Mervyn Baskerville Cross, MA, FRIBA and C.Sutton.
Red-brown rustic brick in 1:3 English bond, Darley Dale stone details including portico, architraves and aprons to windows, quoins, parapet. White glazed bricks line the upper floor walls facing onto the council chamber clerestory windows and shallow pyramidal glazed roof with ventilator restored circa 1980. Steel framed structure, concrete flooring, internal walls of hollow fire clay blocks, flat roof originally covered with natural rock asphalt. Austral type metal window frames, some replaced.
C18 classical style, symetrical. 2 storeys over raised basement, 13 x 16 bay rectangular plan with grand entrance hall and central single-storey top-lit council chamber.
Single-storey Tuscan portico to the central 3 front bays: a flight of 6 wide steps; paired columns in antis; triglyph frieze; balustrade with urns. Paired pilasters flank central entrance doors, with semi-circular sockets for ceremonial halberds presented in 1905. The facade was surmounted by a tall flagstaff, temporarily removed due to water penetration at base of the supports.
Rear: plain fenestration, stone sills and brick flat arches, open well to bay 7 with steps down to basement, 4 cast iron moulded posts, handrail altered. Left return: right quoined bay with deep eaves and parapet as front; the remainder is slightly lower. Entrance bay 3: ten stone steps with cast iron and bronze handrails, panelled double doors, overlight with geometric tracery, moulded stone surround. Tall 3-pane windows as rear and square-section cast-iron down pipes, Lancashire rose on hoppers. Right return: similar to left, 9 steps to the entrance door bay 14, left handrail replaced.

Interior fittings survive throughout the building, including panelled doors, window frames with pivot opening or side casement mechanisms, radiators, light fittings. The ground floor layout and individual rooms include: panelled double doors open into a square lobby with original central pendant lamp, glazed screen to main staircase hall. The entrance hall has cream and light blue terrazzo flooring with central mosaic panel of the town shield and motto ‘BEAUTY SURROUNDS. HEALTH ABOUNDS’; wheelchair ramps obscure curved corner steps; square section columns with later decoration, cantilevered stone divided staircase: cast iron ballustrade with scrolled panels and ramped mahogany handrails; the stair well lit by 3 round-arched stained glass windows. Double doors to left and right open into the Council Chamber / magistrates’ courtroom: 4 corner columns carry a deep moulded beam which supports clerestory walling with roundels and square windows with original yellow and blue geometric patterned glass; walls: moulded ‘acoustic’ plaster wall panels , ceiling of square glazed panels and decorative bands in red, green, yellow and blue. Original glass cube pendant lights. Wall gas lights here and elsewhere in the building in the form of bronze plaques with relief decoration of laurel leaves supporting torches with white glass globes. A fixed oak partition, 3 glazed leaded glass panels [central door] divided by paired pilasters, screens the entrance to the chamber from the rear corridor and magistrates’ rooms. Furniture: original black oak desks, chairs with green hide upholstery, and tables, the latter straight or curved and in units designed to be moved to suit the number of members meeting. Carved motif of coat of arms on chair backs; the tall chairs and mayor’s / magistrate’s desk survive, with original lights and bells.
The outer rooms are reached from a corridor round three sides of the building which also links the two secondary staircases to rear left and right. The stairs are one straight flight with roll-moulded mahogany hand rails and bronze landing balustrades with scrolled decoration.
Interior, first floor, front: the mayor’s private room and anteroom has a built-in oak cupboard, the main front suite of rooms includes the mayor’s parlour and two committee rooms separated by folding panelled oak screens; the doors have pedimented surrounds, the panelled plaster ceiling has been removed to reveal steel joists and concrete infill. The left offices include the original open and well-lit drawing office. The right-hand corridor rooms include the original kitchen and general office.
Basement: reached from the rear stairs; includes steel doors to former cell or strong room and base of rear boiler house chimney .

Garage approximately 20m to north-east, brick, concrete pillars support flat lintels, parapet above. Single storey, 5 bays, originally open-sided but now with panelled doors and inserted windows far right.

The building of the new Town Hall was made possible by funding from the Unemployment Grants Committee and planning began in 1930. The work cost over £40,000 and the foundation stone was laid by the then Mayor Councillor J.S.Cordingley, J.P., on 12th August 1931. Heating was on the low pressure hot water system with a gas-fired boiler.
The design team for the facade was father and son, Alfred and Kenneth Cross, with C. Sutton. The RIBA records show that Kenneth Cross [d.1968] worked extensively for local authorities in London [including Westminster, Marylebone, Finsbury, Finchley and Inslington] and for Bournmouth and Newcastle-on-Tyne. He was an expert in the design of indoor swimming baths and wrote two books on public baths. He also designed for the Barbers’ Company, the Grocers’ Company, the Whitgift Foundation, St John’s College, Cambridge, Plymouth Commercial Bakery, and Barclays Bank.
Morecambe and Heysham Municipal buildings were illustrated in The Builder, August 19th 1932 and obituaries of Kenneth Cross, who was President of the RIBA, are in The Times, Building magazine 26th January 1968, p.98; and the RIBA Journal volume 75, 1968.

Listing NGR: SD4395164768

Source: English Heritage

Listed building text is © Crown Copyright.

Three of the heavily indebted ‘PIGS’ countries – Greece, Ireland and Portugal – have already received or requested bailouts from the European Union and International Monetary Fund, leaving only Spain holding on to solvency without external support.
The sequence of funding failures has triggered fears that Spain could suffer the same fate. Such an eventuality would pose a far greater threat for the Eurozone given that Spain’s economy is almost twice the size of those of Greece, Ireland and Portugal combined.
Spain’s gross external debt hit €1.76 billion at the end of 2010, according to the Bank of Spain. If the Eurozone solvency crisis is following a clear pattern – with investors focusing on one country at a time – Spain will come under greater scrutiny in the coming months.
“Spain’s size, and the distribution and complexity of its various types of sovereign, quasi-sovereign, bank and corporate debt, creates political headaches for the EU far greater than those in the smaller economies,” says Tamara Burnell, head of sovereign and financials credit analysis at M&G Investments.
But while pessimists point to problems in the country’s real estate and savings bank sectors, as well as unemployment in excess of 20%, the consensus view is that the bailouts will stop at Portugal.
“A disaster moment for Spain is not likely in the near term,” says Ashish Shah, senior vice-president of global credit at AllianceBernstein in New York. “Spain is in a much better position than Ireland, Portugal or Greece. But the country is clearly not out of the woods yet.”
Spain’s gross domestic product accounted for 11.56% of the Eurozone total in 2010, according to IMF figures, whereas Greece, Ireland and Portugal together accounted for just 6.06%.
“Growth, while weak, is improving and exports are okay, which will provide some offset to what will remain fairly low personal consumption in the short term,” says Duncan Sankey, senior portfolio director and head of credit research at Cheyne Capital in London.
But investors acknowledge the country faces major financial and economic challenges. Among these, the most significant are unemployment – 21.29% at the end of the first quarter, according to government figures – real estate debt and unhealthy bank balance sheets. All of these problems will continue to attract attention.
“There is no question the banking system is undercapitalised and the government is trying to address that,” says Shah. “The reality is the government is going to have to address it from the fiscal side, which means borrowing money and putting it in the banks. Spain will struggle to deliver the growth it needs to absorb the heavy social costs [of that process]. All this is happening as the European Central Bank is tightening rates, which is particularly bad for Spain because the mortgage market is largely a floating rate market.”
Nevertheless, investors take some comfort in the relative openness Spain has shown in publishing debt figures in its banking and real estate sectors.
“Spain will not go the way of Greece, Ireland or Portugal,” says Luke Spájic, head of European credit portfolio management at Pimco in London. “We know the debts are large but if the banks can be stabilised with equity and then fund themselves, it is very difficult to predict the Spanish banking system will disappear tomorrow. We know the size of the debt so what is the worst-case scenario when they go out to raise money? They might end up with an 80% debt-to-GDP ratio, which is a lot lower than the US.”
In terms of bond market sentiment, however, there are undoubtedly risks that buyers may end up staying away from upcoming Spanish issuance, even though that risk may not present itself for a few months.
“It will take some time for the risk to materialise in Spain because the government is very transparent about what it needs to do and is showing a tremendous amount of political will in that direction,” says Shah.
Nevertheless, the size of the Spanish economy relative to the other PIGS countries means it would be unwise to ignore the risk it poses to the Eurozone.
“At the moment you can still draw a distinction between Italy and Spain on the one hand and Greece, Ireland and Portugal on the other,” says Sankey. “Does that mean Spain is immune from contagion? Absolutely not, although they are looking somewhat better. The size of the problem is so much bigger in Spain that, if it had to be addressed, it might actually hush the voices of some of the less enthusiastic elements in the European Union.”
Yet for some investors, it is not just that worst-case scenarios are unlikely, or even that the EU will ensure they do not come to pass. Instead, Spain may even be worthy of increased allocations.
“There is a stock of people, be it Brits or Scandinavians or Germans, who will go and buy property in Spain,” says Spájic. “There is a massive stock of houses to get through.”
Spájic is also quick to emphasise the difference between the predicament Spain faces and that faced by Greece.
“The poorer peripheral countries have really tough debt dynamics,” he says. “When Greece has to go back to the private market next year, it will be a real struggle. Who is going to lend it €30-€40 billion? The public sector may step in again but then the risk builds it may not come back to market. With Spain you have got to paint a really nasty scenario for that to happen,” he says.
But if the macro picture were to turn negative again across Europe, Spain will not be the only country to come under pressure from investors, argues Burnell at M&G.
“Let’s not forget though that plenty of other large developed economies also share many of Spain’s problems, so there seems to be a reluctance to admit or confront the issues in Spain – after all, looking in the mirror can be painful for those who still believe themselves to be in a far better position. So a solution for Spain probably has to involve a much wider admission of pain than most can contemplate right now,” she says.

Find the full article on Risk.net. Cheyne Hedge Fund is a London-based alternative asset manager

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King Hiram Lodge No. 566 Toronto – A memorial display for well loved and respected Right Worshipful Brother Ed Dyer
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Image by antefixus21
A memorial display for well loved and respected Right Worshipful Brother Ed Dyer which included a portrait taken when he was Worshipful Master of King Hiram Lodge in 1952 as well as his Masonic Regalia. He recently laid down his Working Tools and passed to the Grand Lodge Above. The bright Masonic Light that he shone in so many Masonic bodies will be sorely missed.

The Beginning
In the year 1920, immediately after the first World War, there was a great influx into Masonry and a group of Masons from the Willys Overland plant (a pioneer and manufacturer of the Jeep 4 wheel drive vehicle) situated in West Toronto, feeling there was a need for a new Lodge in this area, formed themselves into a committee for that purpose.

This group was headed up by W. Bro. W.L. Abernathy of Stanley Lodge # 426, Toronto and ably assisted by W. Bro. W.L. Clark and Bro. J.G. Bruce, both of Victoria Lodge, Toronto.

Having fulfilled all the necessary requirements, the Institutional Meeting of King Hiram Lodge, U.D., G.R.C., was held in the Annette Street Temple on April 29th, 1920.

After the dispensation, the Most Worshipful, The Grand Master, M.W. Bro. F.W. Harcourt authorized W. Bro. W.L. Abernathy and Charter Members to meet as a Lodge to be known as “King Hiram”.

On the 15th day of November, 1920, the Lodge was duly instituted and consecrated. W. Bro. W.L. Abernathy was installed in the Chair of King Solomon and the Officers were invested to their several stations in King Hiram Lodge #566, on the register of Grand Lodge.

The name “King Hiram” was selected as being the most suitable to fulfill the hopes of the petitioners which was to build a strong Lodge appropriately named after King Hiram Abif the chief architect and overseer of the building of King Solomon’s Temple.

It was resolved that the Initiation Fee be set at $ 75.00, the Affiliation Fee at .00 and the Annual Dues at .00. The Tyler’s salary was set at 0.00 per year.

The Worshipful Master appointed a Visiting the Sick Committee, a Musical and an Entertainment Committee. A committee to set up the by-laws, a committee to arrange for a Ladie’s Night and a committee to arrange for and provide Christmas Entertainment.

The first candidate to be initiated was Mr. John Rutherford on June 4th, 1920.

The Work for the year consisted of 42 – E.A. Degrees, 32 – F.C. Degrees and 19 – M.M. Degrees.

The Twenties

The first King Hiram Ladie’s Night was held in the form of a reception in the banquet room. An honorarium was established to pay the Secretary 0.00 per year for his services. A special emergent meeting was held on Saturday, February 8th, 1922 to conduct 15 Master Mason Degrees which beat the previous record by one Degree. The Worshipful Master and brethren attended at the laying of the foundation stone at the Weston Masonic Temple. On March 19th, 1924, W.M. B.H. Capsey had the pleasure of initiating his son, Vincent Bertram Capsey into the First Degree of Masonry. It was adopted that the Lodge present to each candidate the Volume of the Sacred Law on which his obligation was sealed. An annual picnic was held at High Park. A committee was appointed to request the Temple Board to install a pipe organ in the Lodge Room and a piano in the Banquet Hall. King Hiram visited Niagara River Lodge in Niagara Falls, New York and on a return visit the Worshipful Master of Niagara River Lodge presented our Lodge with a gavel which had been made from a piece of oak from the Old Fort Niagara.

The Thirties

A new Lodge was instituted in the Annette Street Temple, named Memorial Lodge, in which many of the members of King Hiram were involved. W. Bro. Gordon James is installed as Worshipful Master being the first Master of King Hiram who was initiated into the Lodge, all others being Charter Members. Grand Lodge institutes an “Unemployment Bureau” under the Masonic Board of Relief due to the economic circumstances. In May 1935, we celebrated our 15th Anniversary. The creation of a Members Night was established and the ruling Master and W. Bro. Gately of Memorial Lodge conducted the Ceremony. In 1936, Ladies Night was postponed due to the death of King George V and the Grand Master requested a three month mourning period be observed. In 1938, with deep regret we recorded the death of W. Bro. W.L. Abernathy one of the founders and the first Master of King Hiram Lodge.

The Fourties

It was resolved that the dues of all members enlisting in the Armed Forces be waived.

To support the war effort, Grand Lodge inaugurated a Fund for War Relief to be contributed to by members at large through the various Lodges. King Hiram purchased 3 0.00 Victory Bonds and a further purchase in the amount of 0.00. Past Master, W. Bro. Fred Adams was honoured by the King as a Member of the British Empire (MBE) for his work in the supply of munitions. It was decided to send Christmas gifts to our members in the Forces. Bro. S.D. Shaw is installed in the Chair of King Solomon and initiates his son, Duncan Shaw and W.A. Bruce son of Bro. J.G. Bruce, the first Secretary of our Lodge. In 1945, we celebrated our 25th Anniversary. Our Grand Master requests us to hold a Thanksgiving Service for our victory in Germany. Bro. R.F. Wright is installed in the Chair of King Solomon. November 1st, becomes known as “Charlie Tottle” Night due to his reaching his 80th birthday and also for his long service to the Lodge. Bro. C.V. Tottle was elected Secretary in 1926 and served until his death in 1950. Bro. Wm. McBurnie returns to Lodge after serving 7 years overseas in the Armed Forces. W. Bro. Wm. Gow is appointed Grand Steward. Installation Night changes from January to December due to the continual bad weather conditions in January. It was approved that the Tyler’s pay be .50 per meeting.

The Fifties

W. Bro. E.D. Magett appoints Bro. Joe Kemp as Chaplain and Bro. Doug Wright as Ass’t. Secretary. R.W. Bro. Floyd Albertson is honoured for his 23 years of service as Treasurer and his work in the Lodge since its inception. Bro. A.E. (Ed) Dyer is installed in the Chair of King Solomon. Two minutes silence was observed in respect to his late Majesty, King George V1.V.W. Bro. S.D. Shaw was congratulated and presented the Regalia of Grand Steward. Meetings and discussions were held regarding the division of Toronto District A. At Grand Lodge it was decided to split the district into two districts, A1 and A2, to take place in 1955. A donation was presented to River Park Lodge to help in the rebuilding of their Temple due to the damage suffered by Hurricane Hazel. In July, 1955, Grand Lodge celebrated its 100th meeting. An open air service was held at Exhibition Park with over 2,500 in attendance. Mr. R.J. Elrick is initiated into King Hiram Lodge. V.W. Bro. Bill Gow presents V.W. Bro. Archie Wright with his Regalia of Grand Steward. Bro. Joe Kemp is installed in the Chair of King Solomon, his father Bro. J.T. Kemp presents a gift on behalf of the family.

The Sixties

Bro. Doug Wright is installed in the Chair of King Solomon by his father ,V.W. Bro. Archie Wright. This is the first time in the history of the Lodge that a father has installed his own son. The Metro Police Team confers the E.A. Degree on Mr. Robert N. Wilson. V.W. Bro. Archie Wright presents Grand Steward Regalia to V.W. Bro. Reg Wright. King Hiram members and ladies initiate visitations to William S. Farmer Lodge #1109 in Syracuse, New York. Mr. Lewis Crocker passes a Board of Trial and is accepted as a candidate for Initiation. W. Bro. Sam Wright is Installed in the Chair of King Solomon. Dues increase to .00. Father and Son night featured Johnny Bower of the Toronto Maple Leafs. W. Bro. A.E. (Ed) Dyer is elected D.D.G.M. of Toronto District #1. The following year Father and Son night featured Leo Cahill, coach of the Toronto Argonauts. Bro. Robert Elrick presents a D of C wand to the Lodge in memory of his father, Bro. Robert Elrick Sr.

The Seventies

In 1970 we celebrated our 50th Anniversary. Father, Son and Daughter night featured entertainment and movies. V.W. Bro. Archie Wright passed to the Grand Lodge Above. V.W. Bro. Bill Gow, 41 years a Past Master of King Hiram is the first member to receive a 50 year service pin. Bro. Sam Hough of Danville, California visits and later affiliates with King Hiram after moving to Toronto. Bro.’s Lloyd Lemoine and Ernest Roy Imrie receive 50 year pins. Bro. Arnold Sinclair continues to deliver profound lectures when presenting the Candidates Bible. Father and Son night features Darryl Sittler of the Toronto Maple Leafs. Lodge members enjoy memorable cruises with Bro. Bill Rhyme aboard the “Lomar”. Visitations with King Hiram Lodge #37, Ingersoll are initiated. Visitations continue which result in the creation of the King Hiram Friendship Gavel. The Rt. Hon. Chief Justice James C. McRuer of King Hiram Lodge receives a 50 year pin. Dues increase to .00. Bro. James Rushford Sr, is presented a plaque for his service to King Hiram as Chaplain and his 57 years in Masonry. V.W. Bro. Joe Kemp is appointed Grand Steward. Bro. Ron Padgett entertains regularly on the organ with great talent, artistry and his well known humour.
The Eighties

Our 60th Anniversary. V.W. Bro. Doug Wright is appointed Grand Tyler and is presented with his fathers regalia, V.W. Bro. Archie Wright. Bro. Aubrey McGill is presented a plaque for his devotion as Chairman of the Benevolent and Sick Committee. V.W. Bro. Joe Kemp and V.W. Bro. Doug Wright are honoured for their many years of service as Secretary and Treasurer of the Lodge. Members Night tradition continues with Bro. Henry Strackholder being Initiated. King Hiram makes a donation to the Barbara Turnbull Fund. W. Bro. Ernie Morrison is appointed as Assistant Grand Director of Ceremonies. Annual dues increase to .00. W. Bro. Robert N. Wilson is honoured and presented his Grand Steward Regalia by W. Bro. George Owttrim. A year later V.W. Bro. Robert N. Wilson is presented a plaque in recognition of his service to Masonry and King Hiram Lodge. The first District Walkathon takes place and proves to be very successful. W. Bro. Alistair Clement initiates his son, Mr. Graham Clement into King Hiram. Bro. Aubrey McGill is awarded the prestigious William Mercer Wilson Award. M.W. Bro. William R. Pellow, Grand Master attends the Installation Ceremony of Bro. Edward Grinko being placed in the Chair of King Solomon. King Hiram hosts the District Education which features St. John’s Lodge #209 from London, Ontario. King Hiram hosts a special Appreciation Night for all Past D.D.G.M.’s of Toronto District #1.
The Nineties

Bro. Tom Thompson visits from Scotland to share the Installation Ceremony with his brother, W. Bro. Hugh Thompson. W. Bro. Sam Wright is honoured and presented with the Regalia of Assistant Grand Secretary. Bro. Rick Morell is Installed in the Chair of King Solomon. King Hiram donates 00.00 to the Runnymede Chronic Care Hospital Fund. W. Bro. Sam Hough passes to the Grand Lodge above. R.W. Bro. A.E. (Ed) Dyer is presented a 50 year service pin. Bro. John Kikiantonis is awarded the Canada 125 Year Award Medal. W. Bro. Edward Grinko launches the district newsletter, “The Blue Print”. W. Bro. Robert Langzik and Bro. Aubrey McGill pass to the Grand Lodge above. V.W. Bro. Robert Wilson is appointed Grand Lodge Representative to the Grand Lodge of Utah. Memorial Lodge #652 affiliates with King Hiram Lodge. W. Bro. Lew Crocker is appointed Grand Steward. W. Bro. Rick Morell serves a second term as Worshipful Master. Bro. Earl Walsh is Installed in the Chair of King Solomon. In 1995 we celebrate our 75th Anniversary. A full year of celebrations and activities is planned including a Gala Anniversary Dance. Bro. John Kikiantonis is Installed in the Chair of King Solomon by V.W. Bro. Sam Wright who substituted for W. Bro. Edward Grinko due to the death of his wife. 50 year pins are presented to V.W. Bro. Doug J.B. Wright, V.W. Bro. Ed Wilkings, Bro. George Cowie and Bro. John Cholmomdeley. 25 year Past Master pins are presented to W. Bro. Proctor, R.W. Bro. Ed Dyer, V.W. Bro. Joe Kemp, V.W. Bro. Doug Wright, V.W. Bro. Ken McLean, W. Bro. Fred Twitchin, Sr., V.W. Bro. Sam Wright, V.W. Bro. Bill Hunter and W. Bro. Doug Kelman. W. Bro. Earl Walsh is Installed in the Chair of King Solomon for a second time by W. Bro. Lew Crocker. The following year Bro. Bill Wingrove is Installed in the Master’s Chair by W. Bro. Earl Walsh. V.W. Bro. Sam Wright is also Installed as Worshipful Master for his second time, 32 years later and initiated Bro.’s Scott Hoy, Ben MacDonald and Dusty Markle. We were saddened with the passing of V.W. Bro. Doug J.B. Wright to the Grand Lodge Above. W. Bro. Rick Morell is Installed in the Chair of King Solomon by W. Bro. Hugh Thompson.
A New Millennium

2000 – 2005

Bro. Aaron Williams is Raised to the Sublime Degree of a Master Mason. A special night and reception is held for R.W. Bro. Earl Walsh who was elected D.D.G.M. of Toronto District #1. Bro. Ken Mullings is Installed in the Chair of King Solomon by his friend and mentor, W. Bro. Hugh Thompson. V.W. Bro. Hugh McKnight is made an honourary member of the Lodge. A reception is held to present W. Bro. Robert Elrick with his Grand Lodge Regalia. Mr. Stephen Brode is Initiated into King Hiram Lodge. A special meeting is held at Central Park Lodge to congratulate Bro. Imrie on his 102nd Birthday and his 80 years a Mason. W. Bro. John Kikiantonis is Installed as Master for a second time and also re-accepts the Office the following year. W. Bro. Kikiantonis enjoys the honour and pleasure of Initiating his son, Emmanuel into Masonry. Mr. Andrew Adamyk is Initiated into King Hiram Lodge. A memorial was conducted for V.W. Bro. Robert Elrick and R.W. Bro. Robert Wilson who passed to the Grand Lodge Above. V.W. Bro. Bill Hunter receives his 50 year pin. W. Bro. Hugh Thompson passes to the Grand Lodge Above. W. Bro. Edward Grinko is Installed as master for a second time and enjoys the distinct pleasure of Initiating his son, Christopher. Mr. James Berry is also Initiated into Masonry. The Secretary’s honorarium is raised to 0.00. V.W. Bro. Ed Wilkings is made a life member of King Hiram Lodge. W. Bro. Rick Morell is Installed for the fourth time as Worshipful master. King Hiram Lodge is now in its 85th year. Mr. Daniel Berube and Michael Bonner are Initiated and Bro. Antonio Texeira is Raised to the Sublime Degree of a Master Mason. A special evening was conducted for W. Bro. Ken Mullings to celebrate his retirement and his return to Jamaica.
The intervening years between 1920 and 2005 have been momentous years of change in the History of the World.

Consider the Twenties, an era of building following World War I. The Depression of the Thirties. The conflict and hardship encountered due to World War II. The united efforts of rebuilding throughout the Forties and Fifties. The social changes and struggles throughout the Sixties and Seventies. The boom of the Eighties, the recession of the Nineties and the dreams and expectations of a new Millennium.

The years have also seen many changes in King Hiram Lodge. We have witnessed and shared in the lives of many of the Men who have been instrumental in the creation of and continuation of our Lodge.

Throughout the years the spirit of Masonry has always been kept alive and we have at all times remembered the wishes of our Founders, to uphold the basic principles on which the Lodge was established, “to keep this a friendly Lodge and to show true Brotherhood to All”. Our strength in the past has been in the dedication, loyalty and respect, for our Lodge by the many men who have affixed their signatures to our By-Laws.

Lives of great men all remind us
We can make our lives sublime,
And, departing, leave behind us
footprints on the sands of time.

– Henry Wadsworth Longfellow

* Reprinted from the King Hiram Lodge #566 “Consecration Night” Booklet, November 15, 1920

During these times of economic turbulence and insecurity we all have a immense need for sickness, accident, unemployment & redundancy protection. Most of us have a mortgage, loans, credit cards, utility bills and everyday living expenses that would need to be paid if we were to lose our jobs through a redundancy, become ill or suffered an injury and be unable to work for a while.

With household budgets already stretched you should think seriously about protecting yourself and your family. If you or your partner lost your job through a redundancy and you ended up unemployed for a long period of time. How would you pay your mortgage and other bills? It is at times like this that debts start to rise as you struggle to meet your commitments. Then you start borrowing on your credit cards or taking out high cost loans and slowly your debts become bigger and you start to lose control and your debts spiral out of control.

It is impossible to predict whether you will find yourself unemployed or off work due to a long term illness or an accident. There are different types of protection insurance policies available today. You should consider taking out a protection policy to safeguard yourself from a financial disaster should anything happen to you or any of your loved ones. The Yorkshire Building Society recently estimated that the average Briton’s savings would only last 52 days if they were unable to work and that 36% of Britons would only last 11 days. Scary isn’t it.

The old adage of having a ‘rainy day fund’ looks like it is a thing of the past, with one in six people or 16% of us having to rely on credit to fund basic household breakdowns. 45% of Britons say that they could not afford more than £500 if an emergency arose and 20% of Britons said they could afford no more than £100, according to research carried out by the Alliance & Leicester. Based on these statistics it is important that you protect yourself.

There are two main types of Protection Insurance policies available:-

Accident, Sickness, Unemployment & Redundancy cover Generally known as Mortgage payment protection insurance (MPPI). It was designed to provide you with a monthly payment to cover your monthly mortgage payment and associated mortgage costs if you were to lose your earned income, through illness, accident, unemployment or redundancy. The payment period is often limited to a maximum of 24 months for Accident and Illness and 12 months for Unemployment and Redundancy.

Income Protection Insurance (also known as Permanent Health Insurance) This type of Insurance will pay you an income if you are unable to work due to an illness or injury and it usually pays out either until you return to work or you reach retirement age. Income Protection policies will usually pay up to 70% of you annual income. You can add redundancy cover to an Income protection policy. This type of policy may seem costly but it will pay you out for the term of the policy or until you reach retirement age in the event a long term illness, accident or redundancy that may lead to long term unemployment

Contributing author Mark Aucamp has been providing Talk Money Blog with regular posts and comments. Mark is recognised as an authority in the field of Debt Management and the Remortgage market; he has extensive experience in providing Advice & Solutions. Mark is the Editor of Talk Money Blog: – http://talkmoneyblog.co.uk