Thames Land, Building, and Investment Society, Permanent.

Thames Star, Volume X, Issue 3319, 12 August 1879, Page 2

Thames Land, Building, and Investment Society, Permanent.

The eighth annual meeting of the members of this association was held at the offices, Albert street, last evening. There was but a limited attendance and Dr. Kilgour was voted to the chair. After the ordinary preliminary business, the secretary (Mr A. Hume) read the annual report and balance sheet :*— ' .- ■ Your committee are again in a position, to present a satisfactory balance sheet. The business of the year has been rather less than for the year previous, which'is partly due to the caution rendered necessary by the temporary depression on the Thames. The general confience felt in the Society is shown by the fact that we have at all times during the year been able to command more than sufficient capital for .the accepted applications'for loans. Good service has been rendered by the encouragement given to the acquisition of country lands, and your

committee are of opinion that there is a wide field of usefulness open in this direction. The Society's office has been reshingled, and the freehold purchased. The charge paid by borrowing members as bonuses has been discontinued on freeholds. The usual 1\ per cent, interest has been placed to the credit of investing members, and after payment of all charges and providing a liberal sum for unaccrued interest, your committee has been enabled to divide a further sum~£s26 155,, being 5 per cent, dividend; while the reserve fund, it is anticipated, will meet losses. The following gentlemen form the present committee ;—Messrs John Wilson, Peter Lamb, S. T. Whitehouse, Wiiliani MeCulloagh, JV McGowan, John Eead, and F. C. Dean. Of these the last two retire by rotation, but are eligible for re-election. The dividend will be due and payable at the Society's office on and after the 12th instant, and may either be drawn or pfaced to the credit of investing mainbers' accounts at their option.—: James Ebk* shaw, James Ejxgoub, William B. Souteb, Trustees. ,;

Balance Sheet.—Receipts i Bank of New Zealand, £157 Os 5d ; subscription payments, £2525 18s 3d; redemption payments, £7235 5s 3d; deposits, £520; investment on deposit, £500; entrance fees, fines, bonuses, discounts, &c., £232 lls; total, £11,170 14s lid. Disbursements : Advances on mortgages, £5998 13s lid; dividends paid, £833 0s 2d; interest on deposits and to Bank, £3 19s 4d; shares and interest withdrawn, £3024 6s 9d; deposits repaid, £120; investment deposit repaid, £500; purchase of free* hold and Repairs to office, £340 18s 3d; deed boxes, £3 10s; general charges, £206 13s 4d; Bank of New Zealand, £89 13s 2d ; total, £11,170 14s lid. ■ Balance Sheet —To investing shareholders, £11,249 10s 4d ; interest credited shareholders, £858 0s 6d-^£12,107 10s lOd. Deposit, £400; suspense interest account, £2943 13s Id; accrued interest on deposits, £8 13s 4d; dividend account, £526 15s; reserve fund, £150; small accounts, 7s sd; profit and loss account, £36 Os 9d—£16,173 Os 3d. By mortgage accounts, £15,597 5s lOd; office premises and fittings, £451 Is sd; iron safe and deed boxes, £25; stationery,' mortgage forms, £10; Bank of New Zealand, [ £89 13s 2d—£16,173 Os sd. !

Pbofit and • Loss AccotftfTi—To- 7^; per cent, compound interest to investing shareholders £858 Os 6d; interest on deposits and to bank £3 19s 44 ; 5 per cent, interim dividend £16 Os lid; 5 per cent, dividend £526 16s Od—£l4o4 15s 9d,; accrued interests on deposits £8 13s 4d; stationery account' £10^ General charges—Auditors £6 6s; advertising and printing £5 6s ; committees and stewards' fees £19 10s 6d; rates £7 15s; secretary £159; sundries £17 15s 10d—£206 13s 4d. Profit and loss new account £36 Os 9d. Total—£l666 3s 2d.—By balance £14 16s 7d; mortgage forms £1010s; interest accrued, £1320; interest suspense £14; accrued fines £74 5s 7d; entrance' fees, fines, books, discounts, &c. £232 lls-r-£1651. TotaW£l666 3s 2d. s !

Assets and Liabilities: Mortgage accounts, £15,597 5s lOd; less unaccrued interest, £2943; 13s Id; office premises and fittings, £451 Is sd; stationery and mortgage forms, £10; iron safe and deed boxes, £25; Bank of New Zealand, i£B9 13s 2d; total, £13,229 7s 4d. By invest^ 1 ing shareholders* £12,107 10s ;;■ lOd; deposits, £400; dividend account; i>526 15s ; reserve fund, £150; accrued interest on deposits, £8 13s 4d; profit and loss new account, £36 Os 9; S.S. account, 7s sd; total, £13,229 7s 4d. ■ .

The report and balance-sheet was' adopted, and Messrs. Dean and^Bead re-lected members of the cojoimittee-! -A vote of thanks to the chair terminated the proceedings. ...',,, ■ I