WELLINGTON BUILDING SOCIETY.

Evening Post, Volume XXII, Issue 145, 21 December 1881, Page 2

WELLINGTON BUILDING SOCIETY.

The annual meoting of the above sooioty was held yesterday evening, Mr. T. M'Koneio in the chair. The following report wa3 presented s — " Gentlemen —In mooting tho shareholders at the conclusion of the eighth year of tho society's operations, the Committee of Management have the satisfaction to state that, notwithstanding considerable competition with similar institutions and the unexampled depression in commercial circles, we have fairly maintained our position as a building Bocioty. As the society is now drawing towards its culmination, the oommittee have increased difficulties in finding an outlet for their accumulating funds. Under these circumstances they have mads conditional arrangements with the Wei* lington Trust and Loan Company for tho deposit with that company of the surplus funds of the society, at stated intervals. Tho committee invite the concurronoo of the shareholders to this arrangement, as the company is not, slriotly speaking, a ' kindred society' within the meaning of the Act; and the trustees would donbtlosa prefer to bo arm id with the au'harity of the shareholders as well as that of the committee in tho proposed arr&mrement. The following members of the committee now retire, but, baing eligible, offer themselves for reelection :— Mestr«. C. T. Benzoni, R. J. Gill, G. M. K-jbbell, William Tinnoy. Signed, Thomas W. M'Kknzte, acting Chairman." On the motion of the Chairman, the report was adopted. The following resolut.on, proposed by Mr. A. Murray and seconded by Mr. E. Smyth, was carried :— " That this meeting endorse the action of the director.) with respect to the arrangements made with tho Wellington Trust and Loan Company, as Eet forth in the report of the committee.*' The profit and lc>B3 account for the year show* a credit balance of £1019 2s 7d, and the assets of the society are sot down as follows: -Mortgage on share?, j£3 1,290; mortgages, general, .£4497 16a 3d; sharer, advance. J82585 ; interest suspense account. £413 8a 4i ; oflico furniture, J680 ; sundry debtors, J81268 2s fed; mortgages lapsed, .£419 10s 3d; interest £74 ssl9d; Weltogton Trust and Loan Company, .£1200; Equitable Investment Company, jBUOO; National Bank, .£l5O 5s Id. Total, .£43,03* Ss. The retit ing directors and auditors were re-elected, and tne meeting closed.