PRUDENTIAL BUILDING SOCIETY

Press, Volume LXIII, Issue 18918, 5 February 1927, Page 16

PRUDENTIAL BUILDING SOCIETY

The directors of the Prudential Building and Investment Building Society of Canterbury have presented the following report to shareholders:— During the year X20.C00 was allotted to members by ballot, and it U hoped during the present year to largely increase this amount. In addition to this a large number of loans were arranged on first mortgage for members. The number of shares on the books is 2552. The profit and loss account showed a profit of ££3B 8i lid, which, after writing down tho preliminary expenses by £3O, left a balance of £6OS 6s lid. Your directors disposed of this balance as follows:—Five per cent, dividend on subscriptions amountin? to £353 15s Cd, a bonus of one shilling a share amounting to £l2l 9s 6d, and carried the balance £123 Ss lid to reserve account. This gave a return of at least 6 per cent, to all shareholders on their subscriptions, which the directors consider highly satisfactory considering the short time the Society has been in existence. It is hoped the- Society will make still greater progress during the present year, and that the numbers in their own interest will bring the advantages of the Society before their friends and us* their best efforts to secure them w shareholders. The object of the Society is to provide all who desire home* of their own to obtain tbem. The Society is prepared to advance to its members the fall commercial value of the property they wish to possess, and to afford a profitable investment for their contributions while waiting their turn in the ballot.