BUILDING SOCIETY BALLOTS FOR LOANS

Sun (Auckland), Volume 1, Issue 186, 27 October 1927, Page 15

BUILDING SOCIETY BALLOTS FOR LOANS

MEETING AT WHANGAREI (From Our Own Correspondent) WHANGAREI, Wednesday. The Whangarei Co-operative Terminating Building Society held its twornonthly meeting in the county council chambers last evening. Mr, H. W. Crawford presided over a good attendance. Messrs. Roseman and Crane were appointed scrutineers and a ballot , resulted in Messrs. H. W. Crawford and W, J. Orr being returned as directors. The chairman explained that this year the financial aspect of the society had been a success beyond all expectations. The first 3'ear the money for appropriation was £4,800, and the second j'ear £4,800, while for the present 3'ear it was £5,200. The society was badly handicapped, as it had only one group to work with last 3'ear. The directors had determined to fill the second group, but hard times and the consequent tightness of money prevented this. However, it was hoped that it would be fully' subscribed next y r ear. Mr. Crawford said 24 members had benefited by the society’s operations and the organisation ow stood in a good financial position, and the directors were doing their best to cut down expenses, which were lower than those of the city building societies. In the course of an animated discussion on the balance sheet the chairman was compelled to call for order on several .occasions. Mr. Lust was unanimously re-elected auditor. Appropriations by ballot resulted: Pearson, No. 364, Hikurangi, £400; Wakelin, No. 458, Kamo, £BOO. A further £BOO was put up for sale by | tender and holder of numbers 401 to 404 was successful with a £75 share, i No. 15G, also drawn but not allotted.