MUTUAL BUILDING SOCIETY.

Press, Volume LII, Issue 9249, 29 October 1895, Page 3

MUTUAL BUILDING SOCIETY.

The twenty-third annual meeting of shareholders in the Mutual Benefit Building aud Investment Society of Canterbury, Pornianent, was held at the rooms of the A. and P. Association last evening. There was a> fair attendance, and Mr VY. Harris, Chairman of Directors, presided. The Direotors in their report stated that the business of the Society nad been quite ac sacceeaful as could have been anticipated, considering the low rate of interest, prevailing. Continued care had been taken to prevent lost, but where such had occurred provision to meet the same had been made. The result of the year's business provided 7 per cent, to all shareholders, leaving a balance of £50 8s sd, which sum it was intended to carry to the credit of the reserve fund. Iv view of the falling away of interest rates, the Directors had deemed it prudent to curtail the cost of management ; they had consequently reduced the expenses by a sum of £140, equal to a deduction of 14 per cent. After several questions had been answered by the Chairman to the satisfaction of those present, the report and balance sheet as presented were adopted. A special resolution carrying the balance of £50 83 5d u> the reserve fuud was adopted. Messrs W. Harris and H. Hookham were re-elected Directors, and Mr A. M. Ollivier was re-elected shareholders' Auditor. Vote* of thanks to the Directors and the staff terminated the meeting.