CANTERBURY BUILDING SOCIETY.

Press, Volume XL, Issue 5755, 28 February 1884, Page 2

CANTERBURY BUILDING SOCIETY.

The sixth annual meeting of ing members of the Canterbury Bnll&j Society was held in the rooms of tb«im> cultural and Pastoral Aesocifctioh, « Tuesday, Feb. 19th. Mr A, Carriok, Chitman of Directors, presided. There wh t quorum of members present.

The Directors submitted the sixth umei report, financial statement, and baSia* sheet. The working of the Sooietytetti past year shoved 9 per cent, on thecapiW invested. The result, although short oj previous years, might be considered nfc factory on the whole, and was aoconsW for by a few borrowers haviog faJlas k keep up their payments, the Society fore being obliged to take posMK&Mt some of these properties. Aβ thertnm now no reserve fund, the Direofep deemed it prudent to allow a libW margin in valuation of these BWOjUit for the purposes of the preeent btlttt* sheet, in view of any possible ,!& which however they did not antioqujfr The meeting would be asked to cosh* the question of extending theinveitflf table to nine years, so as to give invested the option of letting their shares B-'&Bs at £10 or at £20. . The Directors Ji retired by rotation were Meson Briegs, C. J.Mountfort.W.H. Hargrpfc. and F. W. Hales. Mr J. V. Hoes ns«ji hie seat in. coaeequence of his tempcprf absence from the colony. ThefoUewisfc shareholders were eligible for oleofc'ra $ seats on the Board, viz., Meota 0.1. Brims, O. J. Monntforfc, "W. H. Hlrgriwraj F. W. Hales, and Frank Graluua. Til dividend warrants would be payable on ft} 25th inst. • ; ~ The Chaibmam moved the adoptieatf the report, which he said shoved exwfy what had been done. Considering tW& pression of affaire during the last year,tt» result, on the whole, was very The capital of the Society showed at* siderable increase. Tbe Sooiety oorM » gratulate itself on having offices of itiWft He did not think it was neceewf t> adduce reasons why the dividend «• smaller this year than previously. t Mr C. E. Bsiaos seconded the am for the adoption of tho report and bdjjPM' sheet. ,■'.«' Mr Thomsoit moved, and Mr-B§*e seconded—" That the reserve fonJ* 1883 be paid to all capital share* M# all A shares of the old issue of flwj«P standing, and to all B shares vUpmf Carried 71 The Chaiemaw stated that 89 tfagofr men referred to in the report weretneew candidates nominated, he had to dm* them elected directors for the entity year. , The directors, the Chairkab ttMjf/ pointed Mr Harley their Auditor.' . Mr Craig was appointed Bhare|o«f Auditor. Concerning the question of extern the investors* table to nine jeefcjj members preeent were generally law* of this, if it were possible. ,-,_j_ A vote of thanks to the Chairn* ,W» Vi nated the proceedings. ;: •; ;■