Thames Land, Building, and Investment Society.

Thames Star, Volume XVII, Issue 5173, 15 August 1885, Page 2

Thames Land, Building, and Investment Society.

There was rather a small attendance of shareholders at the fourteenth annual meeting of the above Society, which was 1 held last evening at the office of the Society, Albert street, Mr Jas. Sensbaw presiding. The minutes of the last annual meeting having been read and conflrmed, the following annual report of the trustees was read :—V Owing to the present depression io business, aud consequent de» preciation in value of house and land property on the Thames and Te Aroha, your Society's business has not increased, being much about the same as that of the previous year. Within the last few months * change for the better appears to bare set in, and it is expected a large increase both of investors and borrowers, will bring an extended business during the ensuing year. Interest at the rate of 11 per cent., amounting to £516 2s 6d, has

been placed to the credit of investing! shareholders; aud in addition a dividend] of 2| per cont. is now proposed. No losses Lave been written off, but from accumulated profits of past years a sum of £250 has been placed to credit of a Eeservo Fund, which it is anticipated will nioro than cover all bad or doubtful debis ; and a sum of £187 19a 9d carried forward to credit of Profit and Loss Aoount, The large balance at your bankers of £790 is applied for and being absorbed. Your Secretary reports having received a nutn ber of applications for loans on securities over which your Society could not make advances, wbch leadit to the impression that either another company might be formed to meet such cases, or your Society remodelled. Two members of Committee require to be elected in place of James McG-owan and F. C. Dean, the former being eligible for re-election.—(Signed) James Kilgoub, James Eenshaw, Petes Lamb. Trustees." Id the course of the remarks which he made on the general business of the ! Society, the Chairman pointed out the many advantages of investment in the Society. There werea number of young men in the district who had banking accounts, for which they should be receiving 10 per cent. He thought the Society had not been sufficiently represented to the public. _ A hearty vote of thanks was passed to Mr Dean for the past services, he had rendered to the Society, but from which he has now withdrawn; and Messrs J. McGowan and H. Murdoch were appointed members of the Committee for the ensuing year. The usual vote of thanks having been accorded to the Chairman, the meeting rose.