FRIENDS OF LABOR.

Press, Volume XLVI, Issue 7357, 9 July 1889, Page 6

FRIENDS OF LABOR.

Th* twenty-sixth half-yearly general meeting of the Friends of Labor Loan and Investment Society was held at the Market Hotel last evening, and was numerously attended. Mr Wykes presided. The Secretary, Mr Otley, read the report and balance-sheet, from which it appeared that the Society was progressing satisfactorily In every way, excepting that the Committee had been unable to invest the whole of the available capital in loans to members, so that there was now £700 inTested in the Bank of New Zealand in two sums as fixed deposits, and £192 5s in the Post Office Savings Bank. Since the last general meeting the auditors have examined and revalued the whole of the securities held by the Society, and they report that they consider them ample for the amounts advanced on them. There are now 216 members holding 657 shares, ud the capital of the Society is £4560 lU2d. During the half year £896 has been advanced In loans to members, bringing Sif^**^ 0, advanced by the Society •££«&S?&.£ tI S£ cel J> t » tor the half year Z^ifS*** 7^ 1,0 * 1110, " 1,10 ' Profit to the ♦J^liSL****• S o 6**** 1 «s £362 !2s 9d, and dividend at the rate of 8 ncr nmt ™»«CT ■ram shall be declared 'JeJßdgSttSSZS' ten'stock. Thie will amountto £lOT vEL leaving £19* 6s <M to The report was received and adopted, and the meetingproceeded to theelecuon of officers. «»e following being re-elected :—■ Mr wykes President, Mr Gain Cashier, and Messrs Gapes, Neate, and Tuck Commltteeaen. The meeting closed with a vote the wbofo ot the officer* for the efficient manner in which they had •■Tried on tte buminee o f Society.