WAIRARAPA TERMINATING BUILDING SOCIETY.

Wairarapa Age, Volume XXXII, Issue 10227, 2 May 1911, Page 5

WAIRARAPA TERMINATING BUILDING SOCIETY.

DIRECTORS* REPORT. The annual report for the year just closed is now, being issued - by tke Wairarapa Terminating Building Society, „and is- 'as' followsJ Your Directors hare pleasure in submitting the sixth annual report and balance, sheet, and congratulate members on the continued success of the Society.. The number of shares allotted is 464, of which 204 are sued) under the amended rule 25, leaving a balance of 136 shares still unallotted. During the past year no shares have been forfeited, as against 97 the previous year. This must .be considered satisfactory indeed, and although the profits are less accordingly, yet we prefer this dn place of having to forfeit members' interests in the Society. The profffc and loss account shows a credit balanc© of £483 5s 6d, an increase of £29 14s lOd for the year's working. This amount may appear small, but we must take into consideration the fact that the Society has successfully pasrol through a critical period in its history, viz., the quinquennial period, when members had the opportunity of "withdrawing their subscriptions, ' 4-9 having availed themselves of the opportunity, representing the sum of £ll7B 7s. Five appropriations were made during the year (four for £3OO, and one for £150). Two by ballot and three by sale, the , premiums on sales amounting to £ll6 ss, being £6 5s m advance of last yefer. The total amount lent on mortgage to date is £8250, of which sum £1737 10s lias been repaid. Your Directors have exercised the greatest care in the matter of securities, and while being as liberal as possible with individuals; the interests of the Society have in every case been considered of first importance. Messrs W. J. Lindop, W. Benton and J. W. Kershaw are the retiring Directors, and having been duly nominated, offer themselves for re-election-. You . will also be required to elect another Director in place of Mr J. Baillie, who, having left the district, does not seek to retain his position on the Board. '