NORTHERN BUILDING AND LOAN SOCIETY.

Press, Volume LX, Issue 11494, 29 January 1903, Page 5

NORTHERN BUILDING AND LOAN SOCIETY.

The twentieth annual meeting of the Northern Building and Loan Society was held at Kaiapoi last night; Mr Parnham in the chair. The report referred to the circumscribed business in loans, and the difficulties of getting profitable investments. The profits of the y«ix (£249 12s 7d) ha 4 been allotted. In thks year the seventh, issue of shares would mature. The receipts were £2960 7s, disposed of as follows.- — Loam* £1045, deposits £900, shares ■withdrawn, £545 8s lid. expenses, etc. £67 0* 9d, leaving a bank balance of £403 14* 10d. The liabilities were £6018 15s, and aeeefc*— mortgages £4671 Is 9d, deposit and accrued interest £912 17s sd, bank balance £Mto lie lOd, sundries £31 Oβ 3d. The accounts were adopted. Messrs R. Moore and E. Parnham were re-elected directors, and Mr T. Hoakin was appointed in place of Mr W. Broadley, who resigned owing to hie leaving the colony. M«»r» B. J. Alexander and J. Harold Evans were elected auditors. Votes of thanks were passed to tha directors, auditors, and manager. Mr R. Moore was re-elected chairman of dirw* tois, and Mr-E. Paraham deputy coair-