THE BUILDING SOCIETY.
The first annual meeting of the shareholders of the above Society, took place in the Court-house, on the evening of Wednesday last, 4th inst., when there was a fall muster of members. The special business of the meeting was preceded by the usual periodical sale of accumulated funds. About £700 was stated as available, and was disposed of at premiums ranging from £2 11s to £4 17s per share of £25; the average being £3 9s. The business of the annual meeting was then commenced by the Secretary calling the roll of members, and afterwards reading the following Eeport and Financial Statement of the committee :— The Committee of the Southland Building, Land, and Investment Society have pleasure in submitting to their fellow-members the first animal report and balance sheet. The Society at present consists of 219 members ; the original number of shares taken up was 1418, of which 273 were returned to Riverton, and 73 forfeited, leaving the present number standing in the books of the Society 1072, of which 123 have been advanced upon. The net profit* of the year amount to £710 Us, which has been appropriated as follows, viz : — 13s per share has been credited to the shareholders in the books of the Society, leaving a balance of £13 15s to be carried to the credit of profit and loss new account. Due caution has been observed in dealing with the securities offered, and your Committee feel confident that all the advances made by them are amply secured. Messrs Rose, Crouch, Trew, Tapper, and Stock reitre from the committee by rotation ; Messrs Dickinson and G-arthwaite, who were called to ' fill the vacancies caused by the resignation of Messrs Matthews and Hay, also retire, leaving seven vacancies to be filled up. Tour committee believe that when the accommodation which borrowing members have received, and the profits in which all participate, are taken into consideration, it will be seen that the anticipations of the promoters of the Society have been fully realised. T)n.
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Southland Times, Issue 1247, 6 May 1870, Page 2
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337THE BUILDING SOCIETY. Southland Times, Issue 1247, 6 May 1870, Page 2
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