MASTERTON BUILDING SOCIETY.

Wairarapa Age, Volume XXIX, Issue 8249, 2 October 1906, Page 5

MASTERTON BUILDING SOCIETY.

ANNUAL MEETING. The annual meeting of the shareholders of the Mastertou Permauent Investment and Building Sooiety was held yesterday afternoon. Mr J. 0. Boddingtnn, Chairman of Directors, presided, and there were twelve other shareholders present. In moving the adoption of the report and balance sheet, tbu Chairman compared the business done during the past year with that of the previous year as follows: Numner of shareholders, 1904-5 151, 1905-6 1(50; Hinount of A and B shares, 1904-5, £11,608, 19056 £11,629; amount of O shares, 1904-5 £8,710, 1905-6 £10,000; total capital, 1904-5 £20,318, 1905-6 £21,629; number of borrowers, 1904-5 207, 1905-6 200; total loaus with accrued interest, 1904-5 £39,653, 1905 6 £44,944; average amouut of loaD, 1904-5 £l9l, 1905-6 £225; number of depositors, 1904-5 88, 1905-6 80: average amount of deposit, 1904-5 £224, 1905-6 £260; total deposits with accrued interest, 1904-5 £19,716, 1905-6 £20,826; aoplioations for loans received, 1904-5 72, 1305-6 93; amouut applied for, 1904-5 £16,500, 1905-6 £22,900; advances made, 1904-5 410,026, 1905-6 £12,946. The percentage of net profit during the past five years wasaafollows:~l9ol-2 7.17, 1902-3 7.17, 1903-4 7.03, 1904-5 7.31, .t905-6 8.24. The profit for 1905-6 was the highest sinco 1897. The Chairman stated that he had announced at last year's meeting that the Sooiety was issuing 129 £'o shares to make the permanent capital £IO,OOO. These shares had been issued at a premium of £l, and, if the Society's business continued to increase h might be neoessary to make a further issue before long. The Society was now in a much stronger position than ever before. Ho explained that when deeding with applications for loans, the Directois had adopted their usual cautious policy of making every enquiry before advancing an amount. The Chairman also referred to Mr J. B. Keith's services as Manager at the Society, and said the Sooiety was fortunate in havicg such an efficient man to oonduct its affairs. Mr T. VVagg seconded the motion, which was carried. On the motion of Mr E. G. Etcu, seconded by Mr J. Carpenter, Messrs J. Maoara and J. Payton were re-elected Dirnotors of the Sooiety. A vote of thanks was accorded to the Directors of the Sooiety for the able manner in which the business bud been oarriod on in the past. Messrs VV. B. Chennells and W. Sellar were re-elected auditors. A vote of thanks to the Chairman and the Manager concluded the meeting, \

CABLE NEWS.

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