LYTTELTON BUILDING SOCIETY.

Press, Volume LXVIII, Issue 14275, 10 February 1912, Page 12

LYTTELTON BUILDING SOCIETY.

The annual mooting of shareholders of tho Premier Building, Loan and Investment . Society of i<y"elt<m (Permanent), was held last night, i\lr W. Brown presiding. The directors' report stated tliat the number of withdrawals had been considerable during the past year, but that there had been an increase ot business in tho way of advances, the total of new business in this direction being £17.090. Tho profit available for distribution amounted to £579 4s 10d, and tho directors recommended that interest at the rate of 6 per cent be added to the value of the B shares current at December, 31st, 1911. The balance sheet showed that the receipts had been £4016 5s 3d. including £42 6s 9d brought forward from tho previous year. The expenditure hod been £4180 3s Id, including advances £1709 19e 7d, withdrawals £2204 5s sd, and interest'£ll4 19s Id, leaving a credit balance of £436 2s 2d. The liabilities totalled £10,425 13s 10d, including B shareholders £6127 17s, depositors £4267 12s 6d, and interest on deposits £30 4s 4d. The assets, represented by tho value of advances, amounted to £10,oGS 16s Id, and the profit on the year's work was £579 4s 10d.

Tho report and balance sheet were adopted. Messrs J. H. Collins, H. T. Foster and W. MeAuliffo wero elected to the Board of Directors, and Mr C. Kay was reappointed shareholders' auditor. At a subsequent meeting of the Board of Directors, Mr W. Brown was elected Chairman, and Mr W. Foster re-electeU directors' auditor.