EQUITABLE BUILDING SOCIETY.

Dominion, Volume 6, Issue 1666, 5 February 1913, Page 8

EQUITABLE BUILDING SOCIETY.

.. , JIEBTiNO. I ;'' y \'b '..The annual 'goherai ~ meeting '. of shareholders in the ■ Equitable Building and In-' vestment Company of Wellington: Titd., was held last evening.;: The managing dircc-'. tor .(Mr. D. Anderson) presided. The chairman, moving '-tho adoption of the - report and-'balance-sheet, said' that during tho past year tho board.;of direo. tors had sustained-a severe, loss in tho fcath of Mr. E.- 11. Deau.'.whosc knowledge of ' Wellington and .tho surrounding districts .was most useful-' to the company's 1 interest. Their warmest' ■ sytnpathy was given' to Jits. Dean and'faniily. The vacancy on the boardNiad been filled by tho appointment of Mr? E. Balcombo Brown,' ,The .prevailing dullness and. decreased value '.of city .and suburban properties "naturally: 'affected such an '■ institution as , theirs. With' care,- however,, the directors expected" :'to maintain their good-record,'by ,makinc -few losses. Shareholders would l .note .that deposits wore, somewhat: loss than tho' preceding year. This was natural, owing, to 1 tho tightness, of the .money market. Tho idiroctora had bad no-difficulty in procuring sufficient money for, requirements. Tiic> statement of accounts showed 'a; further -substantial addition.'{o ,the. reserve fund., which , must prove satisfactory' to-:share-holders, and all concerned.. He had much .pleasure in.stating that.the directors/were well, satisfied with the zeal, and' care.displayed by the secretary (Mr.. Liddle) and his assistant (Mr. .AVcttpnha.ll) in tho : fulfilment of their. duties. ,Ho . moved the adoption of tho report and statement of. .accounts-submitted. . -. '

Mr. n. Bcaucha.mp seconded tho motion, which' was carried without discuss'on. The report recommended a further' dividond of ss. per. share, sa. ' havincpaid. •'-.:,'■;■ . Messrs: G.-M- KcbbcU,,H. Beaucharap. and lE. Ealconibb Brovm .were re-elected directors.' . ■' ;,'.

r-Jn return, as a director, .Mr.' Beaucham'p said that, althouuh times were'troublous .'in Wellington bwinc to tho declind invalues of suburban lands.' tne directors had mado ample pnovision for pnrafblo'losses, and. for any fortclosnrcs which might havo to bo,made under nufrt. gaares. ■-.'-■ ' ',- ' Messrs. E. -Hucholi: and O. S. TCotkiia were re-elected auditors. '

A void of thanks was - accorded to tho staff.'-..-'.' -v . '.' '... - ' : '.- .