PERMANENT INVESTMENT AND LOAN ASSOCIATION.

Wairarapa Daily Times, Volume IX, Issue 2643, 9 July 1887, Page 2

PERMANENT INVESTMENT AND LOAN ASSOCIATION.

The annual mooting of slm'oteltler8 j of the Permauout Ln-estment'-and Loan Association ,bf • held at the Association: ofßce,;vG?joytown, on the-sth iusiah^ ;^.: : Siiiff, Esq., in the cKair. "' v:&*<' : ' " The balance sh'Bet'and';rtpp?t(iwliieh were taken' afi; v real.'anl ; ; showed a net profit; fortlie%(lrbf. L 1425; 8s 5d.,. Therepbrt ; referM: to', was as follows; ' ' ,-,■■■'.-.■; ; '4t' -•' In presenting the annual sheet your Directors' baye' to cougratu) late shareholders upon its.biglily aatiefactory character,' the jiarplus 'profit divisible being £1 sa4d'per'share, which is JhV .highest- divid'etid'. yet declared by the Association; 1 - during the year,'2(s7 uew investhie# shares. have been' taken up, ; ' aus;*,ftl-shares have been;!mthdrawii. : ' : %vfeg the number current:ldßlV ■;&Xl?sZtit Id has been .advanced'-' 6U'Vttfpi\fcgage, bringing the total' up to £21,014 8s -9d; ..rules'v have been revised and reprinted, and the office of the Association has been, much improved by repainting Ac. "In accordance with'"'Uie rules Messrs Seed and Skeet retire front- the directory, but are offer themselves for re-election,* Mr 0, Pharazyn has also givdiv-notice thai he offers himself for a'seat on the: Board/v . ; ; -•-• •'•-.-:.'; , '. During .balance sheet it the past year hadHft.': ceeded -in securing' al-46nsides!li«. amount as fixed, deposits'.withtbi.. Association at a low rate of interest/. and that it was mainly o\ring to the faot that they had been able'to employthis eapitail to ■'. advantage of both borrpyjng;. members that ! '#ey enabled to'' declare such a 'satisfactory dividend,.

f*'lls|.Pliarazyn. and W. Skeo 15 $M directors and Messrs D" Sasby and A. L. Webster wore &d auditors for tho ensuing .year, It was resolved to continue the'rulo adopted four years ago, by wliicly shareholders withdrawing shares which Had attained tlie age of six years and -, upwards and taking up new' shares in lieu, thereof, should be allowed their share of theteserve fund;-' .;-.■•.; ;' ; , ; .A vote of thanks watfWaimously accorded to the manager foj.their services during the\sast, ;.ykv;