EQUITABLE BUILDING SOCIETY.

Taranaki Daily News, Volume XLVII, Issue 81873, 24 October 1906, Page 2

EQUITABLE BUILDING SOCIETY.

Since the inception of the Equitable Building' Society of New Plymouth a total of £10,050 has been .advanced on loan, including appropriations 111 the year just closed of X,ißoo in the first group and £1350 in the second group—a striking illustration of what mav be accomplished by united and systematic thrift. The popularity of this Society was repeatedly proved .during the past year,. Owing t'o members leaving the district several shares of Jjoth groups were placed on the market, and found a ready sale, one sellng at a high premium. The annual report chronicles the fact lhat appropriations by sale have, except in one instance, been tendered for in excess of upset prices, and the directors expressed the opinion that 'f shareholders more fully realised the exceptionally ea'ly and. favourable terms offered under this system of borrowing', considerably higher premiums would be obtained. The year's returns show lhat 'he Society enjoys a continuance of progress and prosperity lhat had followed it since the overcoming' of the initial difficulties and troubles, showing the foresight or the promoters and tho capable management of the affairs of the Society since its inception. Mr T. 0. Kelsey, the auditor, wrote to the annual meeting of the shareholders congratulating the Society 011 the admirable manner in which the books and accounts were kept by the secretary, Mr 11. Stocker. The chairman of directors, Mr S. W. Shaw, also eulogised Mr Stockcr's work, and attributed the smoothness with which the Society was now working largely to the work of their enthusiastic, and hard-work-ing secretary.

The shareholders expressed a renewal of their confidence in the directors by re-appointing Messrs D. Bcrrv, W. N. Ewing, and J. \V. Wilson, who retired. The other directors are Messrs S. W. Shaw (chairman). F. P. Corkill, E. Dockrill, and J. Paton. Mr T. 0. Kelsey, was re-appointed auditor. The Society is now entering the sixth year of existence, with very favourable prospects.