GISBORNE PERMANENT BUILDING SOCIETY.

Poverty Bay Standard, Volume I, Issue 203, 7 August 1884, Page 2

GISBORNE PERMANENT BUILDING SOCIETY.

Tenth Annual Report and Balance-sheet to be presented to the Annual Meeting of Shareholders on Monday, 11th August, at 8 p.m.

The Directors have much pleasure, at the close of the tenth financial year, in congratulating the Members on the continued prosperity and popularity of ihe Society. Comparatively limited as has been the sphere of the Society’s operations, it has, during the decade, made advances to the extent of £9,479

all of which sum has been expended in buildings to the material advantage of the township. It is not too much to say that but for the assistance rendered by the Society, many of the suburban sections which are now occupied would probably not yet have been built upon. The balances now outstanding on mortgage amount to £4,905 15s. 9d., the securities for wlrch are in a most satisfactory state. The profits of the year, after meeting all charges, yield the satisfactory dividend of 11 per cent, on all Investment Snares. During the past year 83 new Investing Shares have been taken up, 46 withdrawn, 8 forfeited, ..nd 11 Borrowing Shares have been redeemed, thus leaving 315 Shares still held by Members. Thirteen Permanent Shares of £5O each have also been taken up during the year, making 54 Shares of this class, representing £2,700, now held. These investments indicate the high estimation in which the Society is held. Four of the Directors, viz., Mv-srs. Humphreys, Moore, Friar, and Cooper, retire, and their places must be filled at the Annual Meeting. The Shareholders must also elect their Auditor, Mr. Cresswell’s term of office having expired.—J. Townley, Chairman.

Dr. Receipts. 1884—July 26. To Balance at Bank of New Zea- £ S. d. land, July 28, 1883.. 79 7 3 „ Subscriptions received 119 15 9 „ Permanent Shares taken up ,, Entrance Fees .. 12 0 0 650 0 0 ,, Transfer Fees ,. 110 „ Fines on Subscriptions .. .. 12 15 2 „ Interest .. ., 498 3 9 „ Fines on Interest.. 4 3 5 ,, Withdrawal Fees.. 9 0 0 ,, Redemption Fees.. 11 0 0 „ Conversion Fees .. 16 10 0 ,, Sale of Rules .. 0 12 0 565 20 5 0 4 0 „ Fixed Deposit ,, Fire Insurance Premium refunded 0 18 9 ,, Ground Rent refunded 5 5 0 £2440 12 1 Cr. Disbursements. 1884—July 26. £ s. d. By Investments ,, ,. „ Shares withdrawn.. ,, Expenses of Management— .575 0 0 852 14 6 Advertising .. 8 16 Printing .. .. 2 5 0 Auditors’ Fees .. 6 6 0 Sundry Expenses 3 5 0 Secretary’s Salary 80 0 0 6 „ Interest paid on Permanent Shares 235 10 0 „ Office Furniture (Safe) „ Fire Insurance Premiums ad26 0 0 vanced 3 6 3 „ Ground Rent advanced 5 5 0 ,, Balance at Bank of New Zealand 147 18 10 £2,440 12 1 BALANCE-SHEET. Dr. Liabilities. 1884.—July 26. £ 8. d. To Shareholders’ Accounts 2059 0 1 ,, Permanent Shares .. 2700 0 0 ,, Fixed Deposit 20 0 0 ,, Unsettled Accounts.. 8 9 0 ,, Interest due .. 293 15 0 „ Profit and Loss Account .. 0 18 0 £5,082 2 1 Cb. Assets. 1884.—July 26. By Investments on Mortgage, bal- £ s. d. ances outstanding 4005 15 9 „ Office Furniture „ Fire Insurance Premiums out26 0 0 standing „ Balance at Bank of New 2 7 6 Zealand .. 147 18 10 £5,082 2 1 Profit and Loss. Da. 1884.—July 26. To Expenses of Management— £ 8. D. Cha.ges, ordinary : Advertising .. £2 8 6 Printing .. .. 10 0 Sundry Expenses 3 5 0 ■ . - 6 8 6 Unsettled Accounts : Printing Report 15 0 Advertising .. 0 18 0 Auditors’ Fees .. 6 6 0 8 80 9 0 0 0 Secretary’s Salary 94 17 6 „ Balance Profit carried forward 474 5 0 8569 2 6 „ Amount of Interest on Permanent Shares at 11 per cent. per annum .. ,, Amount of Interest to Invest292 8 4 ors at 11 per cent, per annum 179 12 0 „ Accrued Interest on Fixed Deposit at 8 per cent, pei annum 1 6 8 „ Balance to New Account .. 0 18 0 £474 5 0 Cb. 1884—July 26. By Balance July 28th, £ s. d. 1883 „ Fees, Fines, and 3 11 2 Interest .. .. 565 5 4 ,, Forfeitures .. 0 6 0 565 4 £569 2 6 To Balance Nett Profit brought down £474 5 0