BUILDING SOCIETY

Wairarapa Times-Age, 28 September 1939, Page 6

BUILDING SOCIETY

WORKERS’ MUTUAL BENEFIT.

TWENTY-FIFTH ANNUAL REPORT.

The annual report of the No. 2 Workers’ Mutual Benefit Building Society, tor the year ending July 31. states: “First Group: During the year advances totalling £3380 were made to shareholders, bringing the total of advances to £31.083 Is Gd since the inception of the society. The repayments have totalled £51,143 7s 6d. leaving a sum of £29,939 14s under advance to shareholders. After charging all expenditure tor the year, the profit and loss account now shows a credit of £9073 15s, and the accumulated profit per share is now £23 13s 9d. Messrs J. C. Ewington, G. Hyde and A. P. Smith retire from the board by effluxion of time, but are eligible for reelection at the annual meeting. Mr G. W. Sellar, F.P.A.N.Z.. F.1.C.A., the shareholders’ auditor for the past year, again offers his services as auditor. At the annual meeting the sum of £4OO will be offered by ballot, and £4OO by tender. “B Group: The total advances with bonuses in this group now aggregate the sum of £26.296 17s. During’the past year the sum of £3964 18s was advanced to shareholders. The balance in the profit and loss account now stands at £3384 13s 7d. At the annual meeting a sum of up to £BOO will be offered by tender." The report is signed by Mr R. KrahaPen, chairman of directors.