ASHBURTON PERMANENT BUILDING SOCIETY.

Ashburton Guardian, Volume V, Issue 1536, 19 April 1887, Page 2

ASHBURTON PERMANENT BUILDING SOCIETY.

The annual meeting of shareholders of the Aehburton Permanent Building and Investment Society was held at three o clock yesterday afernoon at the Office* of the Society, Arcade Chambers. Dr Trevor, the Chairman of Direotora, presiding.

After the advertisement calling the meeting and the minutes of the laat annual meeting had been read, the report and balance-sheet were brought forward show* Ing a profii for the paßt year of £767 6a 2d, of which turn, £419 18a Id, the Directors proposed to allocate to an account to be oalled "The Depreciation of Property Account."

The Chairman, In moving the adoption of the report, referred to the continued depreciation of the value of property and to the increased anxiety on tha part of the Directors and Manager during the past year, and Bald that be had pleasure m asauriog the shareholders that the Directors were no longer anxious, and that after a oareful sorntiny and examination of the securities of the society, the sum set aside for any po'Bible lobb that may occur was amply suffioient, and that he felt sure the next balance-sheet that would be put before the shareholders would be quite as satisfactory. § |The adoption of the report waQ aeoemded by Mr Bullock, who expressed hlB surprise, oft repeated at previous annual meatioga, that ao few of the general public took up investment shares Ihe report and balance-sheet were unanimously adopted. Dr Trevor and Mr J. Ward wero reelected Dlreotors, and votes of thanVa to Directory and Manager unanimously passed, after whioh the meeting coacluded.