METROPOLITAN BUILDING SOCIETY

Dominion, Volume 1, Issue 145, 13 March 1908, Page 3

METROPOLITAN BUILDING SOCIETY

The 17th annual report of the directors'of the Metropolitan Permanent Building and Investment'. Society states that the business for the past twelve months has boen'satisfacto'ry, and the total sum lent on ■ mortgage now amounts to ,£105,403. In accordance with the statement made by the chairman at the last annual meeting, the directors issued' 1000 "A" .£lO shares at a premium of £1 per share. The shares wero subscribed for twice over, and applicants received one new sharo for every two applied for. The premium of iiIOOO was added' to .tho reservo fund.. The directors recommend . that the , usual dividend at tho rate of 7 per cent, be paid, and that, a further sum .of £500 be added to tho reserve fund, wliicli'.'will then stand at ,£5500.. The profits for the.year, including a balance of ,£220 12s. Bd. brought forward from last year, amount to .Clt2B 3s. Id., which, less expenses account .£616 3s. 6tl„ leaves a net profit of i' 3781 IDs. 7(1. The balance, less interim dividend at per cent. > for, six months ending August, 1907, 'JE1514..'i5.'3d., is iJ22G7 15s. "Jd. It is proposed to; appropriate : tho balance as followsTo crediti holders', "B"'.'investment shares at:3J per cent, for ,six months ending February 15, ,1007, «£BO9 ss. :4d., to..payment.of .dividend at '3J- per ccnt. for six months, to holders of "A" \£lo shares \£7(i!); 15s. lid.; to reserve '.'fund' .£SOO, leaving *£188 103.'1 d. to.bo carried forward to next year. • '■