A Flourishing Society.
(By Telegraph—Press Association.) ’ Invercargill, last night. At the annual meeting of the Southland Building Society its thirty-second report showed that 1174 shareholders held 5615 shares, the largest year’s business ■had been recorded, and there was an increase of 392 shares in the year. It had also been a brisk year for loans, 1125,575 being advanced, the best year except 1881, when there was £38,500 advanced members.
The share account stands at .£58,679, and the Society's Borough powers only half exhausted. The profits were 4 per cent., the full interest on loans being 5 per cent. The President, Mr D. L. Mathesa»,-read a statement of the total transactions in 81 years. The receipts and disbursements were £1,601,015 ; profits divided, £92,235 ; • advances on property, £392,037 ; on shares, £26,936 ; shares withdrawn, £86,722 ; shares matured, £245,729. This society, of which Mr James Walker Bain was President till his death 18 months ago, and Mr Jas. Brown has been Secretary for the whole period, is the most successful public institution in Southland.
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Bibliographic details
Gisborne Times, Volume V, Issue 107, 15 May 1901, Page 2
Word Count
170A Flourishing Society. Gisborne Times, Volume V, Issue 107, 15 May 1901, Page 2
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