EQUITABLE BUILDING SOCIETY.

Taranaki Daily News, Volume LVII, Issue 139, 5 November 1914, Page 5

EQUITABLE BUILDING SOCIETY.

ANNUAL REPORT. Following is the report to lie submitted at the thirteenth annual meeting 'of the Equitably Building Society of New Plymouth on Friday, November 13:-

"Your directors have again the pleasure of placing before you the'statement of accounts and balance-sheet, which ahow a profit in each group aftci payment of working expenses. ' 'loans. —No 1 Group: Sevontsn appropriations of £l5O each have been disposed of (eight by ballot and nine by sale), and loans to the amount of £2750 12s 6d have been made (£6OO carried forward from last year, and £OOO to be paid out, the securities not being complete). No. 2 Group: Eighteen appropriations of £l5O each have,been allotted (ten by ballot and eight by sale), and £2750 lui3 been advanced on mortgage ( £3OO carried forward from last year, and £(XK) to be advanced oil completion of securities).

"Profits.—No. 1 Croup shows a profit for the year of .Cll7 Ma sd, the total accrued profits amounting to £1452 19a lid, or, say, £3 12s 5d per contributing share. No. 2 Croup this year shbws a protit of £ll4 lils 2d, the'total accrued profits standing at £1345 4s 2d, or, say, £2 Ms -Id per contributing share. of Shares in each Croup.— No. 1 Croup: One hundred and eighty shares have been appropriated, 130 forfeited or withdrawn, and 401 shares are contributing, of which 280 are available for appropriations; subscriptions on 09 appropriated shares have been suspended in terms of Rule No. 18. No. 2 Group: One hundred' and thirty-throe shaves have been appropriated, 68 forfeited or withdrawn, and 4i)5 are now paying subscriptions, of which 409 are entitled to appropriations, 47 have ceased paying 'subscriptions under Rule 18. "Funds of the Society.—The accumulated funds of the society now ambunt to £27,509 4s 3d. All loans are on a sound basis, your directors having satisfled themselves that the security offered in every case is adequate. "Directorate.—No changes have taken place during the year. \'ou will be tailed upon to elect three members of the board, and those who now retireMessrs. P. Hopkins, D. Berry, and W. N. Ewing—are all eligible, and offer themselves for re-election. "Auditor.—The election of an auditor is necessary, and 'Mr. C. T. Mills again oilers his services to shareholders."