TARANAKI BUILDING SOCIETY

Taranaki Daily News, Volume LIII, Issue 168, 25 October 1910, Page 2

TARANAKI BUILDING SOCIETY

, A SUCCESSFUL YEAR. The report of the Taranaki Land, Building and Investment Society (Permanent), to be laid before the annual meeting to be held on October 31, is as follows: I ; The directors have the honor oi placing the forty-fifth annual report and balance-sheet before the members for the year ended September 30, 1910. The directors have again to congratulate the shareholders on the successful results of the business transacted during the past year; AW and AX' series have been paid off during the year. A dividend of 10 per cent, and a bonus of 2y s per cent, have been declared (the borrowing and investing members participating on equal terms), making a total distribution of 12% per cent, for the year, this being precisely the same as last year. The net amount available for distribution (including the bal-i ance brought forward from last year) is| £2372 os Id, which 'has been appor-j tioned.as follows: (1) By placing to the credit of all members, borrowing and! investing, a dividend equal to 10 per cent, and a bonus of 2Ys per cent, (including profits allotted to AW and AX series, matured during the year), £2147 8s lid; (2) to the credit of reserve fund. £100; leaving to be carried forward to the next account, £124 16s 2d. ( In accordance with Rule 82, Messrs, N.i King and T. K. Skinner retire from the' directorate, but are eligible and offer themselves for re-election. The auditors, Messrs. Hugh Bailv and E. H. Tribe, also retire, but offer themselves for re-election.