INDUSTRIAL AND PROVIDENT BUILDING SOCIETY.

Auckland Star, Volume XXII, Issue 294, 11 December 1891, Page 4

INDUSTRIAL AND PROVIDENT BUILDING SOCIETY.

ANNUAL MEETING,

The annual meeting of the Industrial and ti-ovident Permanent Building, Lund, and investment Society was held at the office, yucen : street, this afternoon, when the folding report for the year ending Septeme !. a?"* 1 "' 1891 " was Presented :_ * ihe Board of -Management, in presenting us eleventh annual reuorb, has to stato that owing to the dearth of good securities, the business of the Society has been somewhat restricted iv amount, although nearly equal to last year. The business, however, ia oi a sound character, as is evidenced by -■necomparati vely small number of prooorties •vhicu have fallen into the hands of the Society. Oiiiy two have been taken over during the year, and on these no loss is anticipated. Ane Survey Committee havo. made a. caremi personal inspection of these properties, and the valuation in the Society's books is likely to be realised on their sale. After ail expenses have been clmrged, there remain* a balance of £865 i3s (id, out of which your Board recommends that a dividend after tho rate of six per cent, per annum be credited to all investing shares, leaving a balance of £51 Ha 2d co be carried forward. It will be seen from the balance-sheet that the reserve fund has been slightly augmented. Owing to the death of Mr G. P. Pierce the Board, in exercise of the powers conferred by rule 68, elected Mr H. Brett to till the VicePresidency, and Mr D. B. McDonald to be one of the diiectors until the annual meeting. Board of management for the ensuing year .-—The following nominations have been received -. Thomas Peaccclt, Esq., to be Presidenb; Henry Brett, Esq., to be Vice-President; C. B. Stone, Esq., to be Treasurer ; Messrs B. Bartley, James Dacre, R. E. Finch, J. J. Holland, A. Kida, C. La Roche, P. H. Mason, D. B. McDonald, and H. G. Wade,'to be directors ; Me_-r_ G. C. Stanwell and J. J. l_e_, to ba auditors.