COMPANY NEWS
PERMANENT INVESTMENT AND LOAN ACCOUNTS Profit of the Permanent Investment and Loan Association of Canterbury increased by £398 to £BO3l in the year December 31. 1955. With £3342 brought in, there was £11,403 in the profit and loss account. Dividends of 7 per cent, (compared with per cent, the previous year) absorbed £7OOO. and an unchanged amount of £5OO was added to the reserve fund (bringing it to £26.000), leaving an increased carry-forward of £3903. Expenses of management were slightly lower at £lBB2 and interest and sundries rose £724 to £12.465. Loans on mortgage, less reserves, rose from £228.134 to £237.163. The association’s holdings of Government stock, the face value of which is £20,005, are valued at £19,269.
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Bibliographic details
Press, Volume XCIII, Issue 27895, 17 February 1956, Page 15
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120COMPANY NEWS Press, Volume XCIII, Issue 27895, 17 February 1956, Page 15
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