Commercial.

Evening Star, Issue 3693, 23 December 1874, Page 2

Commercial.

The amount of revenue received at the (.Jus t 'jti-houae o> ..no-la ooimntnntm* t »’B -lay waft 1,1,168 18s Id. Gold duty, L 577 6ssd. At the £Lrat annual meeting of the National Permanent Building Society last night, the directors reported that the year’s business had been satisfactory, considering the scarcity of .money and the competition. More money could have been advanced to borrowers, but the directors, taking into consideration the high rate of interest, deemed it inadvisable to do so until the bank rate of interest on overdrafts was reduced, as they considered the margin left to the society for profit not suffici ent inducement to incur indebtedness to its bankers. During the year 1,081 shares had been subscription. Eighteen properties were held in mortgage, and 1.107 3s 9d had been set apart as a bonus on the year’s transactions, the preliminary expenses being distributed over a series of five years’ in order that future shareholders should bear a proportion of the cost of forming the society. The receipts for the year were L 2.961. Messrs Reeves, Rossbotham, and George were re elected directors, end Mr Telfer elected a director in the place of Mr John Healey, who had been elected hy the directors to fil’ a vacancy during the year, and who, in consequence, retired in accordance with the rules. Mr Jas, James was appointed an auditor on behfUf of the shareholders.