NELSON PERMANENT BUILDING SOCIETY.

Nelson Evening Mail, Volume II, Issue 126, 1 June 1867, Page 2

NELSON PERMANENT BUILDING SOCIETY.

The Fifth Annual Meeting of the members of the Permanent Building Society, was held at the Temperance Hall, Bridgestreet, at 7 o'clock, in the presence of a singularly small number of the shareholders. Mr. James Barton was called to the chair, who opened the meeting by reading the advertisement convening the same, and requested the Secretary to read the statement of accounts and the report as follows: — Dikectors' Fifth Ankual Report. " In presenting the Fifth Annual Statement of the Society's accounts to the shareholders, the directors would call attention to the large sum that has been repaid to members withdrawing during the past year, which has prevented the lending of so large a proportion of the receipts on loan as in former years ; but the directors do not think this a matter to deplore, as the great bulk of the money has been directed to the extinguishing the claims of holders in the first series. " This series of shares included a great number of investors and embraced such a large amount of money that the gradual extinction of the shares in the manner now adopted is a most satisfactory occurrence connected with the liquidation of the A series, as it relieves the directors from the great reponsibility of providing a large sum of money which would have been demanded when the value of the shares had matured. " In connection with this partial instinction of shares in the A series, the abstract shows a sum of £13,782 10s. as loans repaid ; a great part of this amount is merely transferred to shares of a new series which have been opened during the past year, thus extending the connection of the shareholders with the Society for a longer periods "The profits of the Society for the twelvemonth, ending March 31, 1867, amount to £5,494, which makes the value of the shares up to that date as follows: —

" The four retiring Directors, "Messrs. D. Burns, Hill, Graham, and Stringer, are nominated to be re-elected, and Mr. Acton Adams is nominated as a new new Director, these iive being the only nominations, the meeting is called upon to confirm their election. "James Barton, "Chairman." The Fifth Annual Statement, which appears in our advertising columns, having, been read, on the motion of the chairman, seconded by Mr. John Thornton, the report and statement of. accounts were adopted; arid the meeting then separated.

£ s. d. Ist, or A shares 14 7 0 each 2nd,,, B „ 11 9 9 „ 3rd, „ C „ 911 6 „ 4th, „ D „ 718 8 „ sth, „ E , 610 3 „ 6th, „ F „ 5 4 8 „ 7th, „ G „ 4 I 1 „ Bth, „H , 219 1 „ 9th, „ I „ ... ... 218 1 „ 10th, „ J „ 018 9 „