TAUBANGA LAND, BUILDING, AND INVESTMENT SOCIETY.

Bay of Plenty Times, Volume VI, Issue 559, 26 January 1878, Page 3

TAUBANGA LAND, BUILDING, AND INVESTMENT SOCIETY.

The third annual meeting of the above Society was held at the office of the Society on Wednesday evening. Mr Sheath presided in the Chair. The minutes of the last general meeting having been read and confirmed, — The Secretary, Mr R. C. Jordan, reported that the Society had been very successful in its operations during the past year, having met with no losses. A carefully prepared balancesheet would be read, shewing the working of the Society from its commencement. The number of shareholders was 45 ; the number of shares held by them being 488, of which 215 were realised. The bank overdraft had been reduced during the year from £1,715 9s. Bd. to £947 ss. 2d. The profit on the transactions of the Society to date was £835, being quite as much as the most sanguine of the promoters could have anticipated. The following balance-sheet was then read: — „

Statement shewing assets and liabilities of the Tauranga Land, Building, and. Investment Society.—January 22-, 1878. Assets. £ s. d. 215 shares advanced to members at £20 a share .. .. 4,300 0 0 Premises, valued at .. .. 126 15. 0 Office Furniture 25 0 0 Arrears due byni-mhers „ 38 19- _• £4,490 14 4 Liabilities. £: s„ d. 37 months subscriptions on 488 shares 2,7Q8, 8. 0 Bank overdraft — Bank Book ... 900 16 5. x Unpresented cheques .. 46 8 9 947 5 2 Balance profit .. .. .. ■ 83.5. 1 2 £4,490 14 4 Profit—first yea_v per share . ..093 „ feccond year, „ .. 0 911 „ third year, „ .. 0 15. 1 Total profit per-share .. £1 14 3 Value of each share- .. ..£7 5-3-Audited and found correct, . Mr T. D. "Wrigley moved, " That the report and balance-sheet as read.

be adopted." Seconded by Mr C A.: Clarice, and carried.. ELECTION OB OFFICERS. The election of officers then* proceeded with* COMMITTEE 03?" MANAGEMENT. The following gentlemen were individually, proposed,, seconded,, and unanimously elected members of the Committee- of Management, viz., Messrs J.. H.. Sheath,. B- McKellar,. W..M. Commons, J. F.. Buddie, J.W. Gray, and G. Dacre. AUDITORS.. Messrs A.. F. Sisley and J".. Maxwell were re-elected Auditors. ARBITEATOItS. Messrs T. D.. Wrigle}'", A.. Cook, E. G. Norris, and J. Conway were elected Arbitrators. On the proposition of Mr Commons, seconded by Mr Tadhunter, it was carried, " That the remuneration to Members of Committee be four shillings for each attendance." VOTE OP THANKS. Mr T. D. Wrigley said it was with great pleasure he rose to move a vote of thanks to the retiring Committee of Management. He acknowledged ; the manner in which the members were indebted to them for the economical way in which the Society had been worked, and for its present satisfactory position; he also referred to the disinterestedness shewn by the Committee in having declined to accept the remuneration allowed by the rules. Mr Norris seconded the motion, which was unanimously carried. Mr Sheath, as Chairman of the late Committee, thanked Mr Wrigley and the meeting for the gratifying manner in which their services had been recognised. Mr Wrigley also proposed a vote of thanks to the Secretary, Mr Jordan, which was duly seconded and carried, and a vote of thanks having been given to the Chairman, the proceedings terminated.

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