TUAPEKA MUTUAL BENEFIT BUILDING & INVESTMENT SOCIETY.

Tuapeka Times, Volume VI, Issue 273, 24 April 1873, Page 5

TUAPEKA MUTUAL BENEFIT BUILDING & INVESTMENT SOCIE TY.

The sixth annual meeting of the above Society was held on Tuesday evening 1 ist, in the Commercial Hotel. \.bout a dozm shareholders wore present. Mr. Harrop, Vice- President, occupied the chair. The minutes of the previous general and adjourned meetings were read and confirmed. The Secretary read the annual report and financial statement, which were received and adopted. From these it appeals that the affairs of the Society are in a very satisfactory condition ; that the working expenses hive been reduced during the year by £60 ; that 77 shares had been bought in ; that the number of bor-

rowing shares is at present 134£, and the number of investing shares 136 ; that the amount now out on mortgage is £1,123 Bs. lOd. The value of shares is L 3 5105 .; the aggregate profit for the year is L 920 6s. Id., and the total profit to date L 6715 9s. 6d. The profits on each share for the year amounted to L 3 Bs. ; the subscriptions during the year LBll 10s. At the commencement of the year there was a balance in the bank of L 285 4s. 9d. The receipts for the year amounted to L2,8T8 2s. lOd. The expenditure was L26C2 15s. 6d. ; and the balance in the bank to credit of the company at present is L 441 4s. Id. L 2334 ss. had been expended in the purchase of shares.

On the motion of Mr. Mears, seconded by Mr Bryant, Mr. F. Meyer was elected President.

Mr.. G. Morrison was appointed Treasurer on the motion of Mr. Tuckeyj ssconded by Mr. Jeffery. Messrs. Jeffery, Mears, Cormack, Meyer and Morrison were the retiring directors. The three former were reelected, and Messrs. M'Kinlay and Barnett elected directors.

A vote of thanks to the chair brought the proceedings to a close.