EQUITABLE BUILDING SOCIETY

Taranaki Daily News, 22 October 1918, Page 3

EQUITABLE BUILDING SOCIETY

ANNUAL MEETING. ■ . Tile seventeenth annual general meeting of shareholders of the Equitable i i,! S of New Plymouth, was bud at the Soldiers' Club on Friday evening, Air J. Paton presiding. ANNUAL REPORT. The annual report stated:— No 1 group.—During tho year suD- • enptions have been refunded oil 44 shares, absorbing the sum of .£1517 4m',,0 „?' ll,ch l )rofits amounting to Oi 'i Vf ave also been P a ' J to shaielioldcrs. The total number of Mures paid off under the amended rule 77 C n a , Vmg ,a balaiK,e st »" to be paid off of 101. The numbers of the last two s. tares paid off -were 290-7. One '"tiudred and eighty nine shares have heen appropriated. 4!) forfeited or withcraMn, loans repaid on 94, and redemptions are being received on !)5. group. Eight, appropriations ot A,IoO each have been allotted (six by ballot and two by tender). Appropriations offered for sale by tender have not been much in request during the past year, as shown by the proportion of ballots to sales. The cash advanced on loan during the year was £GS2, and a further amount of £OOO has been deposited in the P.O. Savings Bank awaiting settlement. The position of shares m this group is as follows:-One bundles and si.vty-nine have been approriated, 42 forfeited, 275 are now paying subscriptions, SG have ceased paving subscriptions under Rule 131, and notice to withdraw under Kule 10 has been given on 144 shares. The number of remaining shares entitled to receive appropriations or participate in ballots and sales is 225.

Funds of the Society.—The accumulated funds of the society now amount to .€10,847 16s lid. All loans are en a sound basis, jour directors liaviug satisfied themselves that t'lie security offered in every case was adequate. Directorate.—No changes have taken place during the year. You will be called upon to elect three members of the hoard in the places of those retiring, Messrs W. N. Ewing, Jas. Clark, and Philip Hopkins, who are eligible, and offer themselves for re-election. The chairman, in moving the adoption of tJbe report, referred to the satisfactory results of the years operations. Mr Shaw seconded the motion, and also extended his congratulations on the satisfactory position of the society. The motion was carried without discussion. ELECTION OF DIRECTORS. Only three nominations were received for the three vacancies on the directorate, and the retiring directors Messrs W. N. Ewing. J. Clarke, and P. Hopkins, were therefore declared reelected. Mr C. T. Mills was re-eleeted auditor. GENERAL. The directors were voted an 'honorarium of £3O out of the funds of No. 2 group . It was decided to forward to the late secretary, Mr A. L. Humphries, who is away at the front, tile best wishes of the society and hopes for Lis safe return. Votes of thanks were accorded the directors for their services during the past year. KXTRARpINDARY MEETING. Immediately after the annual meeting an extraordinary general meeting was hehl, when two appropriations of £l5O each were offered by tender, and two were disposed of by ballot. Only one appropriation of £l5O was sold by tender, the figure being £25 10s. Tile remaining £l5O was disposed of by ballot, Mrs Ada Back, of Waitara, being the successful shareholder. In the ballot for the two appropriations of £l5O each, Mr. F E. Wilson drew the lucky marble. At a subsequent meeting of directors Mr. P. Hopkins was elected chairman for the ensuing year, and Mr E. Dockrill vice-chairman. Messrs Shaw, Paton and Hwing were elected a valuation committee. Riders of Harley-Davidson. or Indians should try one pair of "CLINCHER DREADNOUGHTS" 28 x 3 —these tyres will please you. 8