STARR-BOWKETT

Hawke's Bay Herald-Tribune, Issue 166, 31 July 1937, Page 6

STARR-BOWKETT

Another Year's Satisfactory Working THE ANNUAL REPORT "The result of the year's working has again been satisfactory," says the annual report of the Hastings Starr-Bow-kett Building Society, . which is to be presented at the society"s annual meeting on Tuesday. Another chapter was bronght to a close, says the report, by the winding up of the No. 3 issue. A further dividend of 16/8 a share was paid^ out, bringing the total amount of dividends paid by this issue to £51 1/8 or £21 1/8 a share above the amount paid in aa subscriptions. This issue began in 1913. Eight appropriations were held during the year, one in No. 4 issue, four in No. 5 and three in No. 6 iesne. In No. 4 issu0 144 shares remain on the register, of which 105 have received appropriations, leaving 39 still to receive loans. In this issue the profit and loss acconnt has a credit balance of £1148 16/-, which, owing to holders of 15 shares having forfeited their right to a share in the profits, amounts to £8 18/1 a share, an increase of sixpence per share compared with a year ago. In the No. 5 issue there are 396 shares now on the register, of which 140 have received appropriations. The profit and loss account has a credit balance of £1420 6/2, which, owing to holders of thirty-seven shares having forfeited their right to a share in the profits, amounts to £3 19/1 a share — an increase of 8/- on last year's figures. The sixth issue has a total of 407 shares on the register, of which 30 have received appropriations. The profit and loss account has a credit balance of £248 2/8, which is equivalent to 12/2 a share, or 7/4 more than a year ago. The total appropriations since the in' ception of the society have been as follow: No. 1 issue, by ballot £24,600, by sale £16,800; total £41,400. No. 2 issue, £17,900, £11,100; - £29,000. No. 3 issue, £15,7Q0, 11,000; £26,700. No. 4 issue, £12,800, £8,000; £20 800. No. 5 is.su e, £7,800, £7,000; £14,800. No. 6 issue, £1,500, £1,500; £3,000. Totals, £80,300, £55,400; £135,700.. The two retiring direCtors are Messrs E. T. Giffo'rd and J. Holt, who again offer their services and, as no further nciuinations have been received, they will be re-elected. An auditor will be eiected at the annual meeting. Messrs Bainbow, Hobbs and Nesbitt, the present auditors, again offer their services.