Starr-Bowkett Building Society

Manawatu Times, Volume 67, Issue 111, 4 September 1942, Page 3

Starr-Bowkett Building Society

The 44th annual meeting of the Palmerston North Co-operative Building Society (Starr-Bowkett) was held on Wednesday night, Mr M. A. Eliott, chairman of directors, presiding. In speaking to the annual report, as already published, the chairman said: “The accounts submitted to you reveal that the past year has been a reasonably satisfactory one, taking all the circumstances into account. It reveals that in some respects the society’s work is being affected by the war conditions, but that at the same time there is still a ready demand for the benefits which the society can confer on its members. Ballots and tenders have been held regularly in all the active groups, and the total amount made available during the year was £15,785. The most apparent effect of the war situation was the falling off in the demand for tenders, and in one group we did not receive any tenders at all to spite of many invitations to the members to take advantage of this method of securing their loans. It should not be necessary for me to point out to members the advantage of purchasing their loans by tender in cases where It is not desired to wait for ballots. Totals showing the Interest equivalents of tenders have been drawn and the modest premiums asked for by the society clearly indicate that members are recommended to give more consideration to this aspect of our business, especially those members who are anxious to obtain their loans.” Mr Eliott reviewed the working of the various groups and the general department and said that the total profits of the society had increased by £lB6 for the year. The directors had made a point of giving every assistance possible to members who had been called up for active service overseas, and in all cases where the maintaining of payments to the society had involved hardship, provision for refunding the share capital or suspending payments had been made. A notable feature had been the very keen desire on the part of soldier members to maintain their payments, as no doubt they were looking forward to the time when they would return to civilian life and require homes of their own. In conclusion Mr Eliott paid a tribute to the work of the directors, the secretary (Mr L*. I. Plimmer) and the staff during the year. Messrs F. Jackson and H. Christmas, the retiring directors, were re-elected unopposed, while Mr N. I. Nielsen was re-appointed auditox*. Ballots in various groups resulted as follow:—Group 8, Mr F. R. Smith (Huntly) £500; Group 9, Mr F. W. Fullyn (Palmerston North) £SOO, Mr J. A. Forsythe (Palmerston North) £500; group 10, Mr H. D. Nielsen (Palmerston North) £SOO, Mrs S. Pitt (Palmerston North) £500; group 11, Mr A. A. Jones (Palmerston North) £SOO, Mr P. Tait (Palmerston North) £700; group 12, Mrs E. Hoare (Palmerston North) £IOOO. A ballot for the return of subscriptions In group 7 saw the following successful: Messrs B. M. Grange (Ngalo), L. A. Northey (Palmerston North), T. G. Graham (Palmei'ston North), C. Jorgensen (Palmerston North). At a subsequent meeting of the directors Mr H. F. ‘Wilson was elected chair-