COLONIAL BUILDING SOCIETY ANNUAL MEETING.

Evening Post, Volume LXXVI, Issue 112, 7 November 1908, Page 2

COLONIAL BUILDING SOCIETY ANNUAL MEETING.

The Colonial Co-operative Building Society of Wellington held its third annual meeting last night. Mr. F. Lee presided. The directors' report and balancesheet, which were adopted, maintained that the society was steadily fulfilling the purpose for which it was formed, and the securities held for the loans that had been advanced are satisfactory. The credit balance on the profit and loss account again showed a small increase, and this exclusive of the bonus of £66 on a loan appropriation of £600, for which a tender had been accepted, and the money was almost ready, and also some interest which had accrued in the Post Offico Savings Bank. The subscription^ moneys received in the year amounted to £990 19s, and the redemption moneys to £2^B 10s. The directors considered that if all the shares that were at first offered could be allotted, the success of che society would soon become greater than that which any similar society has achieved. They, therefore, intend to almost immediately submit a proposal to shghtly alter one of the conditions of the society's rules, so as to induce suitable persons to take the shares which have iiot been allotted, and become members of the society. Hitherto most of the loans advanced had been large, and consequently appropriations had not been frequent enough to excite such admiration and appieciation as the society was worthy of. Messrs. F. Lee and G. Barnard were re-elected directors, and Mr. Hoskins was appointed auditor.