NORTHERN BUILDING AND LOAN SOCIETY.

Press, Volume LXII, Issue 18603, 30 January 1926, Page 11

NORTHERN BUILDING AND LOAN SOCIETY.

The forty-third annual meeting of the Northern Building and Loan Society (Permanent) was held last evenipg, Mr T. I*.. Leithead, chairman oC directors, presiding'. The report recorded the steady progress of the Society, and stated that all moneys received had been invested in good securities, and no losses had been sustained. The profits for the year, £3lt> 17s sd, enabled each account to be credited with the maximum amount of interest, all profits having been divided and credited to shareholders* accounts. The decease of Messrs R. Wylie and C. H. Wright, directors of the Society, was recorded with regret, their capable services bavins been of sterling value to the Society's interests. Twelve shares bad matured. Two directors. Messrs T. R. Leithead and W. C. Tourell, retired by rotation, but were eligible for re-election. The balance-sheet showed receipts amountin?: to £3047 12s 4(1. The «im of £1550 was advanced on mortgage, £353 17s paid on shares which had matured, £133 19s Id deposits and interest repaid, and £6l«> 16s 4d paid on shares, etc. The management expenses were £llO Os Id, leaving u balance of £283 19s lOd. , . . The chairman, in moving the adoption ot the balance-sheet and report, reviewed the operations of the Society for the year. The motion was seconded by Mr J. Howarth, and carried. . _ t* Messrs T. H. Leithead ans C. Tourell were re-elccted directors, and Messrs A. B'.akeley and WVHsrt auditors. At a meeting of the directors, Mr r. K. Leithead was re-elected chairman, and Mr L». B. Evans was elected deputy-chairman. It was decided to pay £605 13s to shareholders, whose shares had matured.