TARANAKI BUILDING SOCIETY.

Taranaki Daily News, 31 October 1922, Page 6

TARANAKI BUILDING SOCIETY.

THE ANNUAL MEETING. The fifty-seventh annual, meeting of the Taranaki Land, Building and Investment Society was held last night, Mr. R. Cock presiding over about a dozen members. . In moving the adoption of the report and balance sheet, the chairman said he took advantage of the occasion to look up Mr. Shuttleworth, one of the original founders of the society, now 87 years old, and Col. Ellis, both of whom sent their best wishes to the society. Colonel Ellis, it would be remembered, drew up the original articles of association for the society. Turning to the balance sheet, the chairman said they were £34 worse off to-day than they were last year, but members should remember that they were now paying 6 per cent, for deposits. An additional sum of £403 was required to pay dividends, and therefore the society had every reason to corfgratu- j late themselves. It was very many years , since they had to acknowledge a loss. In the profit and loss account £662 had been ( brought forward, while the management account was the same as previously, name- i ly, £386. The dividend declared would I remain the same, 15 per cent.. On the whole the balance sheet w r as very similar to that considered at last year’s meeting. The two retiring directors, Messrs. L. A. Nolan and W. H. Skinner, were re-elected unopposed. Mr. H. Baily was re-elected auditor at the same remuneration. The directors were voted an honorarium of £lOO. At a subsequent meeting of directors, Mr. R. Cock was re-elected chairman.