NORTH OTAGO PERMANENT BUILDING SOCIETY.

Oamaru Mail, Volume IV, Issue 1319, 1 September 1880, Page 2

NORTH OTAGO PERMANENT BUILDING SOCIETY.

The above Society held f the meeting last evening at the o Secretary. About 30 ® e ® ber ?», nt ) occU' seat, and Mr. Headland l«it pied tbe chair. After the mwutes ot

, mec tin" wen? read and confirmed, **£lZtary read the following report :- the financwl «t»w d since the .presentation ,h T report the Committee desires of Palate the shareholders on the ta '""Position of the Society. In conP^ n :/ D f the depression above alluded the scarcity of money, the ComW- bcen unable to undertake much bnt ha. been enabled, as fr T iJ «.en from the balance sheet, to rta liability to the Bank from about r fi^ ct rilOO. «e with the confidence of the public, ha» received considerable auras by the of debentures. Committee has also the pleasure of » L that satisfactory and more pert arrangements have been entered the Society's Bankers for future ""Jmodation, and that it is now in a Virion to offer increased facilities to bor"C"* amount <>f profit is LlOoO 7s 10d, j the Committee recommend that a • •ndof 11 P er cent ' P '"The numbers who retire are Messrs. . wra nd Thomson, but fonr will have be elected to till up the vacancies. tC p jr the Committee. George Soxfter, Secretary-. The balance-sheet was abo read, at the , .„f It being the following postscript by I" Auditors The books have been k nt m admirable order, and reflect great Jit on the Secretary-" "ifier the Chairman had cnnipntulated Society on their condition despite the rfcts of the fi nanc ' depression, the and balance-sheet were adopted, rdered to be printed. T. Procter and J. Thomson re-elected Committee-men, and Uasis. James Kay and J. Sinclair were I .red to till two vacancies on the Coni4occasioned by two Committee-men ""Ism" to be members of the Society, "the'meeting, having fixed the honoraria f the Auditors and Treasurer, and voted ° jii'm to the Secretary for the use of the iru itc., terminated with the usual office, if"* » . cnpliment to the Chairman.