UNITED BUILDING SOCIETY.

Dominion, Volume 1, Issue 65, 10 December 1907, Page 7

UNITED BUILDING SOCIETY.

ANNUAL REPORT. , Tho following is tho annual report of the directors of tbo United Building Society, to ba presented at the annual meeting, to be held in the Chamber of Commerce on Monday,. December 18:—The profit for tho year on No. 1 fund amounts to .{SB2 10s. 5d., the balimco at credit of profit and loss account being now ,EIU9 13s. 10d. The loss for the" year on No. 2 fund amounts to JJ7C 13s. 3d., making a total debit balance of JU2B Is. lid. During tho year there were four appropriations in tho first fund, two by ballot and two by sale —the latter yielding a profit t6 tho Society of ,CSS9 155., and one appropriation by ballot ;.n tho second fund. Advances to members of the ■first fund during the year amounted to cC2d-65 (is. Gd., tho total amount advanced to date being .£10,022 11s. 6d. Advances to members of the second fund during the year amounted to .£GOO, beiug tho total amount. The Society holds amplo security for all advances. Sufliciont funds are now available for appropriations by salo, viz., XIOOO in tho first fund and ,£IOOO in tho second fund, and it is, proposed to offer them at tho annual meeting. Buring tho year Mr. AV. G. Tustiu resigned his seat upon tho Board. According to the Society's iulcs Mr. Morrah retires by rotation from the Board. Tho following havo signified their intention of being candidates for tho vacancies (two) on the Board, viz., Messrs. W. 11. Morrah, John Scott, and J. S. Jameson. According to the Society's.rules tho shareholders' auditor, Mr. S. C. Leary, retires, and, being eligible, offors himself for re-election.