BALANCE SHEET.

Southland Times, Issue 1646, 11 October 1872, Page 3

BALANCE SHEET.

In moving the adoption of the report, the President stated that though the profits of ihe year were much smaller than hitherto, they were in the aggregate i larger than those of the kindred institu- ', tion in InvercargiH for a similar period j of three years, aud accounted for the 1 falling off by saying that so little compeI tition took place for the Society's funds i that the premiums received were £200 i lees than during the previous year. In concluding his remarks Mr Matthews said he felt conyinced that unless more equitable premiums were given, it would very shortly be found necessary to alter the rules of the Society. Mr J. W. Matthews was re-elected President, after which the following gentlemen were nominated to fill the Tacancieß caused by the retirement of eight members of committee, viz , Messrs Mills, Inatone, M'Donald, Cook, Daniel, Petchell, Tall, Robinson, Ireland, Grant, Murchie, and Wilson. The ballot resulted in the election of the following gentlemen in the order named : — Messrs Petchell, Daniel, Robinson, Cook, Grant, Tall, Wilson, and Ireland. Some little surprise was felt at this result, as three of the gentlemen rejected have all along been active members of the committee, and between them held 82 shares, the eight gentlemen elected holding not more than 40, and two of them only haviog become members of the Society three days previously by the purchase of a single share each. However as all those elected have the interests of the Society at heart, and will probably prove a good working body, the well being of the Society is not at all likely to suffer at their bands. Messrs G. O. Cassels and J. Wilson were elected auditors. On the motion of Mr Daniel, and after two amendments, the Secretary's salary was reduced to £35 per annum. The President then proposed that Rule 16 be altered so that the profit accruing to the Society from withdrawals, io lieu of going to the general profit of the year, should go to " reserved profits account," which, after an amendment " that the rule be not altered," was carried. It was then proposed, and carried after two amendments, that the members of Committee act on subscription nights without remuneration. Some short time back a well-attended public meeting (Rev. W. F. Oldbaun in the chair) was held for the purpose of establishing a public Athenasura. Mr Matthews having read the sub committee's report, those present decided that the institution should be at once formed The following gentlemen were then elected :— The Hon. J. P. Taylor, President ; John Petchell, Esq., J. P., Vicepresident ; Mr J. B. Wardrop, Secretary and Treasurer; Messrs Petchell, Matthews, Wardrop, Cook, Daniel, Reid, Rocke, Rev. Mr Ross, and Rev. Mr Oldham, committee. The subscription for the first year was fixed at £1 a member. The meeting terminated with the usual vote of thanks to the chairman.

LIABILITIES. £ S. d. 502 shares at £9 14s 9d ... 4888 4 6 Subscriptions in advance ... 20 0 0 Reserved Profits Account ... 220 10 6 Due on advances ... ... 259 1 8 Balance Profit and Loss new account 0 5 8 £5388 2 4 ASSETS. £ s. d. Advances on mortgage "... ... 4700 0 0 Advances puchase 1 not yet tak<m up 250 0 0 Subscriptions in arrears... ... 76 12 0 Unpaid interest ... ... 12 7 0 „ Fines 6 5 6 Cash at Bankers 342 17 10 £5358 2 4