AUCKLAND LAND SOCIETY.

Auckland Star, Volume VI, Issue 1656, 9 June 1875, Page 3

AUCKLAND LAND SOCIETY.

The annual general meeting of the Auckland Permanent Co-operative Building and Investment Society wa3 held las,t evening in the Young Men's Christian Association Rooms, Colonel Haultain in the chair. The business of the meeting having been introduced by the chairman, thesectetary read the third annual report of the society's operations during the past yeai\ The report was most satisfactory shewing that the business of the year had yielded a fair profit, the nett balance available for division being £1,438 7s Gd, which will add a bonus at the rate of 13 per cent, per annum to the capitalised accounts of those shares which are entitled to participate. It will be observed from the report that this society is growing, and which the subjoined facts in comparison will show : —For the year ending 31st of March 1573, the new shares issued numbered 3394, as against 1439 in 1873, and 2410 in 1574 ; the investors' subscriptions increased £9161 lla 7d in 1875 from £4809 13s 4d in 1874, and £2173 2s. 2d. in 1873 ; borrowers' re-pay-ments increased in 1875 to £8585 153. Id. ; from £3077 3s srt in 1874 ; and £2G4 13s 3d in 1873 ; deposits received increased in 1875 to £12 IG4 7s, from £10,595 19s 5d in 1874, and £304 103 in 1873 ; the deposits returned wore : In 1875, £12,594 13s 4d, as against £4370 4s 7d in 1874; apd £30 in 1873 ; loans granted amounted to £15,655 in 1575, £16,930

in 1374, and £2940 ia 1873. The only account which does not here shew an advance upon the transactions of the preceding year is that of loans granted ; and in that case the falling off is merely apparent; for, as will be seen in the cash account, the amount paid on account of loans during the Lst year was £19,500, against £11,G90 for the previous year, arising from the fact that over £5000 of the sum paid was in satisfaction of loans authorised previously to 31st March, 1874. The number of shares issued from the foundation of the Society to 3kt of March, 1875, is 3G9 ; the number still remaining on the share register is 6001 ;J —namely, 4454J investing, and 1607J borrowed shares ; the number of shareholders being 577.— The Chairman expressed hi 3 satisfaction at the successful working of the Society, and thought their success iv a great measure \^a^ due to the labours of their energetic secretary, whose salary, he was glad to notice, the committee had advanced. He moved the adoption of the report, which was seconded by Capt. Elliott and carried.- The following gentlemen were then elected to office for the comiDg year:—Colonel Haultain, President j Mr Thomas Macffarlane, Vice-President : Mr G. W. Owen, Treasurer ; Messrs Frederick Battley and 8.. C. Carr, auditors; Messrs Thomas Buddie, Francis Cherry, W. S. Cochrane, F. E. Compton, James Coupland, H. N. Garland, Joseph Potter, Thomas Thompson, Isaac Watts, committee.—Vote3 of thanks to the outgoing committee, the chairman, secretary, and trustees were duly given, and the meeting separated.