INVINCIBLE BUILDING
Profit Rises To £2514
Net profit of the Invincible Building Society of Christchurch rose £373 to £2514 in the year ended July 31. Interest received rose £696 to £5131 and interest paid_ on deposits rose £323 to £1753. Other expenses were practically steady at £864. Dividend, as announced earlier, is unchanged at 6 per cent, and requires £lBOO. Transfer to general reserve is £5OO (nil) Profit clears these appropriations by £214 and carry-forward is raised to £2318.
Loans on mortgage rose £16,599 to £97,785. Capital, in £5 shares, is steady at £30,000. Reserves, with this year’s addition, total £6500. Deposits are £15,644 higher at £59,521. Credit bank balance is £lll9 higher at £2720.
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Bibliographic details
Press, Volume XCVIII, Issue 29004, 19 September 1959, Page 16
Word Count
115INVINCIBLE BUILDING Press, Volume XCVIII, Issue 29004, 19 September 1959, Page 16
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