EQUITABLE BUILDING SOCIETY

Taranaki Daily News, Volume LIV, Issue 104, 23 October 1911, Page 2

EQUITABLE BUILDING SOCIETY

ANNUAL - REPORT. The annual report of the Equitable Building Society of New Plymouth, to be presented to the annual meeting to l>« held on November 3, is as follows:—• ' Your directors have again the pleasure of placing before you the statements of accounts and balance-sheets, which show a profit in each group after payment of working expenses. Loans. — No. 1. Group: Twenty appropriations of €l5O each have been disposed of (ten by ballot'and ten by sale), and loans to the value of £3IBO os have been made; four appropriations of £l5O each have yet to be paid out, the securities not being • completed. Xo. 2. Oroup: Seventeen appropriations of £l5O each have been allotted (eight by ballot and ! iline by sale), and £3389 5s has been .advanced on mortgage; £3OO on outstanding appropriations are unpaid. Profits.—Xo. 1. group shows a profit for the year of £7O §s 2d, the total accrued profits amounting to £llOO l, r >s (id. or, say, £2 10s 7d per share (£IOO premium on outstanding appropriations have still to be credited); Xo. 2. group this year made a profit of £334 8s lOd, which includes £l4l carried forward from last year, and its increment now stands at £BIO ,18s 4d, or, say, £1 10s 4d per share ( £O4 premium on outstanding appropriations have still to be credited). Position of shares in each group.—Xo. I. group: 131 shares have been appropriated, 122 forfeited or withdrawn. and 43!) shares are contributing, of which :>47 are available for appropriations: .subscriptions on 20 appropriated xha res have been sii'pcnded in terms of Rule Xo. 18. Xo. 2. group: 81 shares ; have been appropriated, 40 forfeited or withdrawn, and 538 shares arc now paying subscriptions, of which 473 are entitled to appropriations: 1.5 shares have cea-rd paying snb-cription- under Hide Xo. IS. Fund- of the society.--The accumulated fund- of (he MM-ietv now amount to £22.2-11 -Is Id. Your directors ha\e excivi-ed caution with reg.nl to securities offered, and up to the present- all loan- are on a sound bnsK Directorate.—Xo changes have taken place during the year. You will be called upon to elc.-t four member- of the board, and (hose who now retire-Mes-rs. V. P. Corkill, R. Doekrill. .1. Piiton. ami S. W. Shaw--are all eligible and oiler theni-clves for re-election. Auditor.—The eh H ion of an auditor i-ner-e--arv. am] Mr. C. T MilU nrr'm "'lei'- liis service- 'o the sha I'eh o! d el's. Acknowledgment. In retiring from the po-ition ot chairman ( de-ire to place on record my appreciation of the pleasant relation-; which have exi-ted among the member-, of the board during the past voar."