RECORD OF PROSPERITY.

Wairarapa Age, 24 February 1927, Page 5

RECORD OF PROSPERITY.

WORKMEN'S FRIEND BUILDING. SOCIETY. ANNUAL MEETING. The annual meeting of the Workmen’s Friend Building Society (No. 1) was held last evening. Mr. W. H. Jackson presided. In moving tho adoption of the annual report, the chairman congratulated the shareholders on tho favourable report for tho twenty-first year. Over £32,000 had been advanced to members and £4OOO returned in subscriptions. They were to be congratulated on the careful and business-liko management of tho past which had prevented any loss on their transactions. The benefits to the community of societies such as this were very great, not only in assistance towards providing freehold houses, but also as enforcing savings by the regular putting aside of small sums. At such a time as this it was right to specially refer to tho founders of the society and the early members, some of whom were still at the helm. He referred particularly to Messrs H. J. O’Leary (who was one of the provisionar directors), T. B. Braggins, A. E. Winzenberg, and F. J. Hunn who, with himself, had strived to put the society on a firm footing.

Mr. F. J. Hunn seconded the motion and stated that it was proof of tho ability, tact, and competency of the several valuation committees that' in the 21 years of its operations, no loss had been sustained by the society. Mr. A. B» Wood said comparatively few shareholders ha£ withdrawn from the fnuds and shareholders evidently had full confidence in the board of management. There being no other nominations for directors, Messrs W. H. Jackson, H. J. O’Leary and A. B. Wood were re-elect-ed. Mr A. Wi G. Hollings was re-elect-ed auditor.

A ballot was taken for an appropriation of £3OO, free of interest, and was won by the trustees in the estate of the late Martha Madsen.

On the motion of Mr. A. B. Wood, a vote of thanks and appreciation of the good work of the society’s founders was carried.

/In appreciation of the loyal services of the secretary (Mr. R. Brown) was on the motion of Mr. Jackson, seconded by Mr. O’Leary, directed to be placed on the minutes. Mr. A. B. Wood and Mr A. W. G. Holligs, the society’s auditors, spoke to the motion and congratulated the society on the way the books were kept and the auditors work facilitated and shortened.

Special reference was made by a number of directors to the very valuable work rendered to the society in the early days by Mr. W. H. Jackson who, as chairman, succeeded in steering the society clear of the difficulties and dangers of that period. At a meeting of directors off No. 1 Society at the close of the annual meeting, Mr. H. J. O’Leary was on the motion of Mr. W. H. Jackson, seconded by Mr T. B. Braggins, elected chairman. Mr. T. Jenkins was elected vicechairman. Mr. A. B. Wood was reappointed directors’ auditor. A property submitted as security for a loan of £3OO being favourably reported on by the valuation committee, was approved by tho board. MEETING OF NO. 2 SOCIETY. The monthly meeting of directors of the Workmen’s Friend No. 2 Building Society was hell last evening, Mr. W. H. Jackson presiding. There were also present: Messrs H. J. O’Leary, T. B. Braggins, ’T. Jenkins, A. E. Winzenberg, W. Kemp, F. J. Hunn, R. E. Jones and A. B. Wood. It was decided to hold a ballot for the appropriation of £4OO at the annual meeting to be held on March 30.