CO-OPERATIVE BUILDING SOCIETY

Dominion, Volume 21, Issue 240, 11 July 1928, Page 18

CO-OPERATIVE BUILDING SOCIETY

The eighth annual meeting of the WellinSn Co operative Building Society was lield on Friday last, at the Accountants Chambers with a good attendance of members. ’ The chairman of directors, Mi. W M. Wright, in moving the adoption of the annual report, congratulated memhers on the steady and substantial pro"ress made by the society during each year of its existence. He■ P o . l^ A out the total Membership during the eigl t years had increased to lib J, the total dumber of shares held at the end of the last financial year being 6431. receipts for the past year were £-.1,0(w, and the total appropriations am “ u " t ® d t . t p £17,000. The working expenses for the year were £7BB, or 0.65 per cent, of the income. The amount advanced to members since the inception of the society was £82,689, including premiums, of which £18,911 had been repaid. During the past year the fourth group was opened, and was now in, operation. It was proposed to open a new group at an early date The retiring directors, Messrs. L. A George and G. Mitchell, were td unopposed. Messrs. Watkins, Hunt, Hull, and Wheeler were re-elected auditors for the current year. Votes of thanks were accorded the directors, the secretary, and his office staff.