LAND AND BUILDING SOCIETY, No 2.

Globe, Volume II, Issue 104, 30 September 1874, Page 3

LAND AND BUILDING SOCIETY, No 2.

The sixth annual meeting of the above was held last evening, in the old Oddfellows’ Hall, Lichfield street, Mr W. Pratt occupying the chair. There was a good attendance of shareholders, considering the weather. The first business before the meeting was the election of six members of committee in lieu of those who had resigned and who retired by effluxion of time. Messrs Pratt, Money, McDougall, Atkinson, B, Button, and W. Flesher were elected to fill the vacancies thus caused. The secretary (Mr Allison) then read the following report ; “In submitting the sixth annual report and balance sheet, the committee congratulate the shareholders on the very satisfactory progress made during the past year, “ A glance at the balance-sheet and statement will show the position of the society to be at the present time a very excellent one. “ The committee have sold since last report 152 shares, twen f y-one shares have been transferred, and Slg- cancelled. They have also also advanced to members on mortgage of real estate the sum of £IOOO, at 8 per cent per annum. “ The society is now composed of 692£ shares, of which 442 J are realised and 249£ unrealised. “ The profits to accrue at the termination of the society now amount to £Bl 5s per share. “The total working expenses, in salary, printing, and committee, only amount to £194 Is Bd. By reference to the statement it will be found that the amounts received for fees and fines have considerably exceeded that amount. “ The arrears due by members are very trifling. “ (Signed) W. Pratt, chairman, “ C. Alli&on, secretary.” The balance sheet, duly audited, was also submitted. A lengthy discussion ensued relative to his adoption of the latter. Mr Nathan objected to the balance sheet being received until it had been printed and placed in the hands of members so as to enable them to understand the position of the society. He moved the adjournment of the meeting for a fortnight. Some discussion ensued, and ultimately the motion for adjournment was lost by 11 to 9. Mr Nathan, in a lengthy speech, then spoke strongly against the adoption of the balance sheet, without members having an opportunity of seeing it in print and considering it. A motion was put for the adoption of the balance sheet, whereupon Mr Nathan moved as an amendment — * That the further consideration of the balance sheet be adjourned for thirteen days in order to allow of the report and balance sheet being printed and circulated amongst the members.” On being put the amendment was carried. A vote of thanks to the chairman concluded the meeting.