EQUITABLE BUILDING SOCIETY.

Taranaki Daily News, Volume LV, Issue 134, 24 October 1912, Page 2

EQUITABLE BUILDING SOCIETY.

ANNUAL MEETING. At the annual meeting of shareholders of the Equitable Building Society, to be held on November S, the following report will be presented: Your directors have again the pleasure of placing before you the statement of accounts and balance shcete, -which show a profit in each group after payment of working expenses. Loans. —No. 1 Group: IS appropriations of £lf>o each have been disposed of (15 by ballot and IJ by sale); live; appropriations offered for sale were withdrawn and balloted for owing to, tenders not coming forward, and loans to the amount of £3OOO have been made. £(i00 curried forward from last year; ami £750 to be paid out, the securities not being complete. No. 2. Group: 22 appropriations of £l5O each have been allotted (12 by ballot and 10 by sale) and £.3840 lias been advanced on mortgage (£3OO carried forward from last year and £IOOO to be advanced on completion of securities). Profits.—No. 1 group shows a profit for the year of £l2l ISs, the total accrued profits amounting to £1231 13s Od, or, say, £2 17s Id per contributing share. No. 2 group this year shows a. profit of £205 ]2s Gd, the total accrued profits standing at £1022 10s 10d, or, say, £1 ISs Sd per contributing share. Position of Shares in Each Group.—No. 1 Group: 152 shares have been appropriated, 120 forfeited or withdrawn, and 431 shares are contributing, of which 322 are available for appropriations. Subscriptions on 43 appropriated shares have been suspended in terms of Rule No. 18. No. 2 (-'roup: 00 shares have been appropriated. 50 forfeited or withdrawn. and 528 are now paying subscriptions, of which 451 are entitled to appropriations. Twenty-two shares have ceased paying subscriptions under Rule No. IS. Funds of the Society.—-The accumulated funds of the society now amount to £24,520 10s lOd. All loans are on a sound basis your directors having satisfied themselves that the security offered in every case is adequate. The dishonoured cheque £43 Bs. included in the assets of No. 1 group has now been paid. Directorate. —No changes have taken place during the year, will be called upon to elect three members of the board, and those who now retire—Messrs. I). Berry, W. X. Ewing and P. TToskins—are all eligible and offer themselves for re-elec-tion. Auditor.—The election of an auditor is necessary, and Mr. C'. T .Mills again offers his services.