AUCKLAND BUILDING SOCIETY

Auckland Star, Volume XLV, Issue 126, 28 May 1914, Page 7

AUCKLAND BUILDING SOCIETY

A GRATIFYING "STEAK. TOTAL jJt»..-\S (.V.KI. _7.n.00u_ 1 he scvetitecnt.il annua" genera.! meeting ol .shareholder- in the Auckland Co-operative Terminat in*. Building Society wa.. hei,| | a st evening in St. -lam..-' Hall. Wolliiijrtnn street, tbe hall being |iiip,| w „|, m( , m111 . r , ( „, the society. |h.. chairman of dire.-. f"rs fMr. .1. K. Buddiei presided. lhe directors' report stated that the total advances made and authorised now amounted to _7__„s:i!l till, the repavmeiits totalling Ci7M.7:,4 1 li. leaving'a balance on loan of _404.08."i 5/5, secured hy properties of a. „ m ,h o-n-ater value, the prom- earned .|urin__ the rear amounted to tll.llK 111/Hl. making the total profits .-_4,7.:l is;,. Representing, a_ they did. interest on the ,l_ar. _u>b_criptio__. these profits had an important bearing on the working of the society, enabling a shareholder to receive, at the termination of a -roup a handsome return on his outlay, in addition to the certainty „,' ;( | )(l j lot m „ nf . r or later. niAIILVLVN'S KKMAKKS. lhe chairman, in moving the adoption ot the report and lialum_.-_h.et. pointed out that, taking the of'shares in the lirst 24 groups which had been satisfied by appropriations sine.. .March dl. 1013, and which totalled _7tj. there was a decrea.se of univ 111 shares on the number for the previous year m the same "roups. Included in'the sum „f t-0.18, paid out during the year wore 1.110 shares withdrawn" under rules I _. to _>... to satisfy which i„ the onlinarv way by appropriation v.ould require no less than £222.000. The total of shares in -roups eligible to participate in ballots at th. end of March. 101 I. was 5.107 as against n.nn.", for the previous war. In groups 1 to i. the decrease averaged about 42 -bar.-- per group, at which rate, another :, years, or 22 year, in all from the .-ommeni-oment ~f the soviet v. -honld see the first six oroups within easy distance of termination. I Applause. 7 The society's income fur the year showed a marked increase, while' the advance showed an increase of about £2.0110 over the previous year, bringing up the total of loans to well over £7;">0.l. HI. It wis a matter for congratulation that out of that large amount not a single loss had accrued to the society, said the chairman. amid applause. The total profits for the year. £H.IL7, showed a satisfactory increase of £07.> over those of the previous year, while as a whole he was confident tbat the report and balance-sheet would commend itself to the hearty approval of shareholders. The society hail established a record among Starr- Bowkett societies the world over. The rapid and enormous expansion in tin- population of Auckland had hivn an important far tor in their success. but without cautious and efficient control the resultachieved could not have Uen attained. | The board had given ihe great.-t ; sideratioti to the shareholder-' interests in which they liad been ably assisted loan ideal set retary and a loyal and com-I petent. stafT. The adoption vv • _ carried un_.iiiirion. 1% Tiie chairman stated in reply to a shareholder that the ipicsti.>u as to ifl-1 creasin_; Hie profits had been under the j consideration of the board, and t h» y pro posed very shortly to make certain re-j commendations for shareholders to dis cu.-s. All extraordinary general mectiin_ would be called f,. r lhe purpose, he ex plained. l-XKCT lON' Ol' DIUK-TO-iS. The three retiring directors. M.-r.-r-. J. 11. Barr. 11. .1. ..ntriran. and T. Mackv. were re-elected, the ballot resulting v.----follows:— I. M. Barr. l.ii Til; P. .1. Kntrican. 1..-..: T. Mackv. 1... lii : |5. Tudehope. Soli: P. -I. Wright, lis.".; and I. V. Hosking. 00... Mr. \\". P. Holm.- and his partner, under the title of "Holin,and Morris." vva, re-elected a- shar. holders" auditor Directors were voted an increase of ."> per meeting for their services, makino the honorarium 1". j_t meeting, and that of the chairman 11. Votes of thank.- were pa.-sed to tic directors and members of t.he staff, the business .■.including wiih the dravvin_: of £11.600 worth of appropriations. LIST OK ..IMTIOIT-lATIOXS. The following appropriations were made at the annual meeting of the Auckland Co-operative Terminating Building Society la.t evening, vv her. _ 11.600 was appropriated, ugain-t £11.20(1 tised:--(,'roup I.—Nile advertised, but no lender received, ro went to a ballot: successful number 544. and holding two shares took _ 400. For the ballot advertised number Mo vva- successful, and holding two .-hares took _ ion. (iroup -. -Sale advprti.-e.l. bul no t'-n dc r received, so went to ballot: -uc.-e--ful number 33R. to"k L'4oo. Group 3.—Sale adverti-ed. but no im dcr received, -o went to ballot ; -Ucc, fill number 726. took _ 400. l-'or tV ballot advertised number (>"> l was -i.,----ccs.-ful. taking £400. (Iroup 4.—Sale advert i.-cd. but no tender received. .-> went to ballot ; sinccssfu! number !»44. took f 4011. (Iroup ."..— Ballot of £40(1. Nutn'n,'" 474 successful. Liking L' (00. Group ti. — Sale of £400 tip., tender of £40 per £200. took £200. The remaining £200 was put to ballot and .No. 201 I was successful, and holding two .-hare. took £400. ! Group 7.—Sale oi _ 100. Higho.-t teni .lor £■>: 2 li per _-OU, taking £ 100. 1 Groups—Sale ot £ -it mi. Ingh.--t ten ; d*r £5U 2, li per £200. taking .400. , C, roup li.—Sale of J.'400. Highest ten | dcr £6:1 10 per £200. taking £ 400. I (Iroup 10.—Ballot of £400. Number ,SO successful, taking 140(1. (Iroup ll.—Sale of _ Km. Highest tender £<_> Mi per £200. taking £400. Croup 12. -Ballot of -400. Nunlhcr 827 successful, taking £ 400. Group 13.— Ballot of £ 400. Number ..lIS suc.cr-.iul. taking C ion . (iroup 14.—Ballot ••; t'4oo. Number ] :;.._ successful, taking £ too Group I...—Sale of £400. lliphest tender C7O 1.5' per £200. taking £400. Group 10.—Sale of £400. Highest tender £00 4 ii per £ 200. taking £'400. Group 17.—Ballot of £400. Number 671 .ilcee.-ful. takin_ £400. Group IS.—Sale of £400. Highest tender £72 10/ per £"200. taking only £200. Next tender. £72 pe r £200. claiming £400. Group 10.—Ballot of £400. Number BS2 successful, taking £400. Group 20.—Ballot of £400. Number I Sl7 successful, taking £400. Group 21.—Bailor ~;' £4110 Number 96." successful, taking £400 Group 22.—Sale of £400 Hiphe_t tender t"7_ 2 0, taklPS £41"'. (.roup - ; - Ballot ~f £400 Number 101 -uce-.-liii. lakmg £ 400. I,roup 21—Ballot of _ 41. H. Number -J.O ,-ilicessllll. Liking £ 100 Group 2."i. —Baliot ol t lon Numhrr ,100 riiocessful. la Ling £400. Group 20.- -Sale of £400 Highest, tender __ 76 _/6 per .£'2oo, .taking £400.