Masterton Permanent Investment aud Building Society.

Wairarapa Daily Times, Volume X, Issue 3321, 28 September 1889, Page 2

Masterton Permanent Investment aud Building Society.

The thirteenth annual meeting of shareholders of tlio above society was hold in tho Temperance Hall last evening (Friday), Mr J. C. Boddington in the chair. The attonclauco was limited, probably owing to tlio inclement weather, about twenty members only being present,

The Chairman submitted the following report of tlio directors: — " Your directors again have the pleasure of presenting you with a balanco sheet showing satisfactory results for the past year. The amount of new business lias been but moderate, as, owing to tho continuanco of tho depression, your directors have exercised extreme caution in making advances. They have reason to believe that in tho coming year the. indications now apparent of revived prosperity will enable them to safely extend the operations of your society. The completion of tho new offices places tlieiu in an oxcellont position to attain this object, Messrs Junes Macara and Joseph Payton rotire from tlio directory in accordance with the rules, but, being eligible, offer themselves for roelcction."

The balanco-sheofc having been circulated amongst tlio members, was taken as read.

Roferring to the progress of the Society, the ohairman said the shareholders wore to be congratulated 011 the transactions of tho past year. Investment shares had increased from 64!) to 7Gii at date. The amount of money invested undor the heading of " loans on mortgage" was llQt so large as on tho previous year. That, however, was due to tho extreme caution exorcised by the Directors, rendered necessary by the period of depression thyough which the Colony lias passed. Tho amount under this head was LB,BOO, as against £5,872 in 1888. Tlio Directors thought it much better to do a sure and safe business than tako the risk of a larger trade, considering the fluctuating values of properties. He had much pleasure in repeating tho remark he made twelve months ago in reference to the value of their securities, Ho might say thero were not many societies who could say as much. Many of. tlio published balance-sheets showed largo sums writton off through depreciation of securities. There was a reduction also under the head of working expenses, which stood at L 229 as against L 240 for the previous year, Since the last annual meeting they had moved into their new brick premises, which were a comfort and convenience to the shareholders generally as well as to tlio staff. These offices had proved a good investment. The Society obtained from rents a return equal to 9| per cent 011 tho cost of land and buildings. It was money well invested, especially when they took into consideration the fact that tho buildings were of brick and in a central situation as regarded the business of the town, which would mean an advance in the letting value of the property. The evidences to be seen at the present time of the prosperity of the country, justified the Directors in anticipating tho Society.would do a very much larger business during the coming year. The nett result for the past one as shown by the balance-sheet was a profit of as near as possible twelve per cent, that was the seven per cent interest and close on live per cent - dividend between holders of shares of more liian three years duration. So loug 11s such results could be maintained shareholders would be perfectly satisfied. Hethen formally moved the adoption of the report and bftl&wosheet.

Mr V. Waito, in aeoonding the motion said, considering Masterton was not going ahead it was very satisfying to find tlio Building Society was in a position to pay as much as twelve pet cent on

Uio year's transactions. The shareholders ought to be satisfied, for from a' Wellington Society's report he flaw there a dividend of only nine per cent was made.

The motion was then put and carried, .

The retiring directors' Messi'3 J, Macara and J. Payton were unani' inously re-elected,

A letter was read from Messrs Payton and Macara stating that owing to a death in the family they were unable to be present at the annual , meeting, They also stated how much they appreciated the confidence expressed by their reelection on the Board of Directors. The electiou ol Auditors was proceeded with, Messrs F. T, Redman, J. lorns and F. 6, Moore were nominated. Ballot was taken, and Messrs Moore and lorns were declared duly elected,

Mr W, G. Beard said he was not present when the balance-sheet was under discussion, and lie would like to refer to one or two items in it. He ashed if the Chairman did not think the item .£IOB 7b Od, fines in arrear was not rather a large amount, and how he accounted for it.

The Chairman said it did seem a large amount, The Directors had gotio into that matter, and since the

publication of the balance-sheet tho sum had been greatly reduced, and within the next week or two it would be more so. When he said it seemed a large amount, he meant in relation to the volume of business the Society did. For one thing the Directors were perfectly satisfied with tho "safety of their securities. The arrears of fines and interest were perfectly secure. He noticed in the returns of another Society the arrears were L7OO. That Society's business was about fifty per oent krger than their own, and tho arrears wore about tho same in proportion, It would be seen, therefore, that in comparison n ith other institutions the item referred to was not abnormally largo

Mr Beard asked if, with such a large sum of money the Society had to its credit in tho Bank, the Directors considered it advisable to allow shareholders who wished to withdraw their shares to do so. He noticed in Grejtown, that Society, when they had a surplus of funds, allowed their members who were willing to withdraw their shares to do so, without it being a condition that they should take up now shares of an equal number.

The ukairman eaid tlie balance of funds in the Bank lmd been reduced in amount by the payment of £SOO matured shares,which had since fallen due, and other sums, The Directors quite recognised that it was not wise to hold a largo credit balance,and probablyby the next meeting ol the board tkebalanco would be on the other side. As regarded the withdrawal of shares, in accordance with the rules each application was dealt with oil its merits and in the interests of the society. Four or five years ago they had a large amount of shares maturing, to the extent of £2,000 or so, and had then made special arrange- 1 ments for shareholders to withdraw. The society had grown since, and suck a sum becoming due would not be considered largo, and there would be no necessity to encourage share. I holders to withdraw their shares now. No member who had applied, however, had been refused. The interest of tko Society had to bo considered in all cases. Ho was glad to sec the shareholders exhibiting an interest' in the Society as exemplified by tho questions asked, and the present meeting was the propor time to seek and obtain information which the Direct jrs would feel great pleasure in giving, Mr Waite proposed a vote of thanks to tke Directors for tko way thoy had conducted tho business of tke Society during tho past year. The fact, he said, that no losses had been made during the recent depression was highly gratifying to the shareholders and creditable to tho management,

The motion was seconded by Mr Richards and carried unanimously. The Chairman on behalf of the Directors thanked the meeting for its expression, of approval. He believed the Directors, one and all, took a keen interest in tho affairs of the Society, Those who had attended the annual meeting for tho past few years must have been struck with the progress the Society had made. 110 assured them that there would bo nothing wanting 011 the part of the Directors in their endeavor to plnco before them as satisfactory a balance sheet next year as they had at tho present. Tho minutes of the mooting having been read over and signed, the business closed with tho usual vote of thanks to the chair.

Merchandise Marks Act. The London manager of tho New Zealand Loan and Mercantile Agency Company draws attention to the fact that shippers do not comply with the provisions of the Merchandise Murks Act, and recently the Customs authorities have stopped several shipments of wool, on the ground that tho marks consisted wholly or in part of names of places in the United Kingdom, whilst no intimation is given of the origin of the produce, l'lie following are some oxnmples of the brands to which exception has been taken Cheviot, A.N, Bundon, K, Dolgelly, JN, Bridgeirater. One parcel of Neiv Zealand wool, the brand of which was not objected .to, was stopped because it bore likewise the descriptive mark, ' Lincoln slips.' Before allowing these shipments to bo takenfrom tho dock the Customs authorities have directed that either the names of llio place bo obliterated, or that the words " Produce of New Zealand" or " Produce of Australia" according to origin, bo added in equally conspicuous and indelible character. In all cases in which shipment bears a mark, whether it ho name of the person, firm or place which might be hold to be indicative of origin in tho United Kingdom, the naino of tho Colony in which tho article was produced must be distinctly set forth. If this regnl. ation is not complied with, not only will delay tako place iu obtaining possession of the goods, but expense will be incurred in adding tho information ■ required by tho Customs authorities. The Banker's Dog. An Austrian banker lately went to Vienna on business, Ho arrived 'in the evening, travelling with a Urge, handsome dog, Tho two put up at an hotel, and next morning the gentleman went out, bidding care to be taken that his dog did not stray from the house. Tho chambermaid went to make up the banker's room, Bruna was very pleased to see her, wagged his huge tail, licked her hand, and made friends thoroughly, until, her business being done, she was ahout to leave, Not so, Bruna calmly streto^d

engine.

himself full length before the door. | He explained, as perfectly as possible, that he knew liis duty. No one should leave his muster's room in his absence. When the girl tried to pull the door open sufficiently for her to slip out he growled, showed his teeth, and finally tried them on her legs. The woman's screams brought another maid, and v% another, and then in succession all the waiters. Btuna was glad to let them all in, but he allowed no one out. The room became pretty well crowded, and every bell in the house ran<(, while the walls echoed cries of " Waiter, waiter I" Finally the lady who kept ilia hotel appeared, and pushing her way irately into the room, asked angrily, as sho walked in, wliat sort of a pictiio they were all holding here. Bruno let her in, too, but not out again—oh, no! | When the lady's husband appeared she called to him loudly for heaven's sake to keep outside, to send messengers scouring the city for the hanker, and, in tho meantime, to endeavor to pacify tho angry customers downstairs, That Austrian banker was a welcome man when he arrived,

Bewitched.

Hans von Bulow, tho celebrated pianist,is the the hero of a comio story 'in connection with Edison's phonograph. You Bulow, during his last visit to America, made acquaintance with a phonograph for the first time in tho laboratory of Edison himself, Tho musician was decidedly sceptical as to the marvelous powers of the®, strumont, and, being invited to pmy " something for the phonographic reproduction, lio took Ilia seat at a piano and; dashed off a marvellous pieco, abounding in firework variations aud abrupt transitions from softness to ■ fury. ''There I" ho \ cried triumphantly, as the echoes of j| the final crash died away, "can that * ever live again?" Edison smiled aud led him over to tho phonograph; the tubes were duly applied to Von Bulow's ears, and the machino was started. Von Bulow listened for a few minutes, his expression gradually changing from triumphant incredulity to tightened wonder. Then ho dropped the tubes and bolted to a safe distance crying out, "Mein Gott I Tho thing is bewitched," In fact, he thought it was, and incontinently left ' the laboratory, though ho subsequently returned, and made rnauy experiments with the diabolical

The Lawn Tennis Playey^ (All the Year Bound). The professional lawn tenuis player male and female, is also another gain in society. We apologise must humbly for tho designation, for wo aro well aware that happily' there are no •' professional" lawn tennis players in this country, But the game has now , become tho serious occupation of so J many young men, and women of leisure that it is difficult not to regard it as a distinct calling. Tho player of the highest grade is a sad and earnest person whose whole life is spent in trying to get "fifteen better" than anybody elso; and when ho or she at length attains that exalted pesition, sleepless nights and laborious days are spent in tho effort to maintain it, Those innocent persons who look upon lawn tennis merely as a pleasant pastimo would be met by a smile of contemptuous pity from a crack player, Morning, noon and night, all the year round the stars do nothing but practise .the game. In the suiavner they move about from ono toiliamerit to another, winning all the best prizes; and when autumn comes they fly to Cttimeß, Nice, or Algiers, to pursue their favourite occupation. In the case of hiilies buch devotion is tho more praiseworthy, because of the real sacrifices it entails, The lady player who realty means business has to let her upppearanco go. She . must play, bail, rain, or shine, hejjg!} face burned in the sun, and < in the vind, while all feminine prettiness of apparel is sacrificed to tho stout, serviceable garment, heelless shoes, and plain Imts, which alor.e aro suitable. A flutter of ribbons and laces about her tight skocs, or a hat perched insecurely on her head would " put her ofl'lier stroke" alto, gethcr, Of courso tliero aro somo who contrivo to combine play with prettiness, Imt they are it> tho minority,

AN AWKWAKJD BLUNDER Hadji Hassein Gliooly Persian Minister at Washington, prides himself upon his social qualifications. One lino afternoon Hadji Hassein Giiooly Khan, in hit. fez cap ' and oriental robes, meandered along ■ the fashionable Connecticut Avonuo to the house of a high official of tho United Mates Government, whore tho Persian representative of royalty. liatl been warmly welcomed upon, various occasions. Ho marched bolft£.' up tho steps and rang the bell, oJStag door was opened by a maidservjf?®®® " Pliwat do yez want ?" sho inquired m rich but incisive Hibernian. Hadji - Hassein Gliooly Khan held out his dainty visiting card. " Eds Meestress B— at homo?" lie inquired, "Yes," replied tho new but knowing maid, " but not to tho loikes of yees. Git." Tho Envoy Extraordinary and Minister Plenipotentiary of the Porsian dynasty was aghast and insulted. Ho had 110 words for explanation, "Yees kin not come in at this dure," she continual emphatically. " The misthress iverything av youre colour must go ruond to tho back dure, and yez can go there now. So now move on," and the front door was slammed in Hadji Hassein Gliooly Khan's faco, The royal believer in Mohammed, fairly livid with rage, uiovod off tho block, while tho , mistress inside, attracted by the conversation, went to the window and looked out. She saw Hadji Hassein Gliooly Khan going away, and she called to the servant: "Diary, why didn't yom 1 - admit that gentlemau?" "HoV a® a dirty peddler, ma'am, an' oi told him to get out, an' oi slammed the dure on him, so oi did," Madam nearly fainted, and when sho recovered Mary was out of a job, Hadji Hassein Gliooly Khan went ; home mad clean "through, and j resolved to deprive Washington j society of his royal presence, After- '• wards, so it is reported, diplomacy succeeded in satisfactorily explaining tho matter to him, and now ho is fully restored to the societjTTwhich lie has been a brilliant light,Presbyterian Messenger. Fanning in America-

To :til ii|t{)<3;iranee tJic United Stains will soon !osb its attractiveness as a field for those who leave England with tlie intention of betterinc; their condition as bdwll farmers or as farm labium We' extract the from the Luudon Standard Executive sf (lie Jjfalioiial jFriiitgrow'-~'

crs' Leaguo having sent ono of their experts to visit the agricultural districts of tho Eastern Statesof America baa received a roport dealing with tho question, It si'iUts that in const!* quenco of tho continuous flow of emigrants of utmost nil nationalities, tho labor centres of all the Eastern States of America tire in a very congested condition, Tlio position of (lie agricultural class is, in the majority of casus, worso than it is in the United

Kingdom. In tho height of the

season there are hundreds of thousands of able-bodied men working from 4 in tho morning till 8 at night for 10» por week and their board. Throughout six months of tho year these terms ennnot bo secured. The talk about chonp land is declared to be a delusiou, tho value of good arable land being greater, in most cases, than that of tho United Kingdom, and funning cannot bo carried on in any pan of America without money, say £2OO in each individual case at least, and with such capital bettor results can bo scoured on live acres ut Home." LABOUR LOGIC. Brawn and Brain! Tho ponderous engine with its wonderful propelling '' powor, coupled to tho long train full freighted with tho richest products of the intellectual looms of tho Conturies. What obstacle can stay tho progress of this mighty foroo, when onco under full sway along life's highway? But .villi

brawn or brain impaired, a man is badly handicapped in the mad race for success which is tho maikcd ™ characteristic of the present ago. Tho Physical System is a most iutricato piece of machinery. It ought to be kept well regulated, so that it will work harmoniously in all its parts, then it is capable of an immense amount of work. It is said that a watch, if oxpectud to keep perfect time, must bo wound daily. It will not keep good time unles3 it"runs regular." Moro men break down because they don't '• run regular" than for any other reason. It is claimed by physicians that few men aro killed by hard work. It is to tho irregularities of modern social life that the high death rate is due, Men burn their candles at both ends, and wonder why it burnsout so quickly. Tho main thing in preserving tho human machine in good working order is to keop thcregulator all right." Tiio blood is tho life," and sound health is assured eo long as tho blood flows

through the veins a limpid stream ot purity, Begulate the regulator with Warner's Safe Cure, the best of all l|m blood purifiers, which, prepared after tho best formula, has stood the test of time, and with tho vigor of brawn and brain which must ensue, in your life's lexicon you will find no such word as" fail." There aro many common ailments that are taken to be independent in their source and origin, but aro in reality tho offspring of a kidney or liver inaction-for instance, rheumutim. Every reputable physician will tell you that rhoumatism is caused by an acid condition of -the system. With some it is uric aeid, or kidney poison; in others, it is lithic acid, or liver poison, This acid condition is cmtdhy inactivity of the kidneys tml liver, falsi action of the stomch aid food assimilating organs. It affects old peoplo more than young people, because the acid lias been collecting in the system for years, and finally the system becomes entirely acidified. These acids produco all tho various forms of rheumatism. Warner's Safe Cure, acting upon tho kidneys and j i liver, neutralising tho acid and cor- *| recting their false action, cures many cases ofrlieumatism. Warner,s Safe Khoumatic Curo, following tho uso of Warner's Safe Cure completes tho work, and rids tho system entirely of too accumulated acids. Bladder diWera—High medical authorities tell you most of the bladder diseases originate with false action ot' the kidneys, and urinary tract, Uric acid constantly coursing through these organs inflames and ovontually destroys tho inner membrane, producing intense suffering. Sometimes this kidnoy acid solidifies in tho kidneys iu tho form of gravel, which, in its descont to the bladder produces kidney colic. Sometimes the acid solidifies in tho bladder, causing calculus or utoiio, Warner's Safo Curo has restored thousands of cases of inflatn. mation and catarrh of the bladder, and has effectively corrected the tendoncy to formation of gravel and stone. It challenges comparison witli all other remedies in this work, And so we might go on to dilate upon congestion, blood and stomach disorders, constipation, piles, headache, otc, etc, all traceable to one source. TuESE ARE' SCIENTIFIC I'AOTB,—aild from the way wo have set them forth, it will plainly be. seen that tho statement wo make, that Warners Safe Cure is tho most effectivo remedy over discovered for tho greatest number of human diseases, is justified. 11 is not a remedy without reputation, Its sales the past year have been greater than ever, showing inconlestibly that the merit of the me.lieine lias given it a prominent place and value in tho hearts and minds of tho people.