DEPOSIT AND MORTGAGE ASSOCIATION.
♦ — The report of the directors of the Wellington Deposit, Mortgage, and Building Association for the year ended 31st March, 1912, shows that the net profit on the year's business, after setting aside a sum for contingencies, was £959 4s 9d, which, in addition to £341 10s 6d brought forward from last year, makes a total of £1,300 15s 3d. The directors recommend that this sum be applied as follows : The payment of a dividend for the year at the rate of 4 per cent. per annum, which will absorb £1000, the balance — £300 15s 3d — to be carried to next year's account. It has been deemed prudent this year to make provisjDn for a possible loss on some securities, tho interest payments on which are in arrear. . Two directors^ Messrs. W. Cable and W. . Watson, retire, and, being eligible, ,offer themselves for re-election. The retiring auditors, Messrs. R. T. Badham and J. H. G. Rowley, offer themselves for re-election.
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Evening Post, Volume LXXXIII, Issue 95, 22 April 1912, Page 2
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163DEPOSIT AND MORTGAGE ASSOCIATION. Evening Post, Volume LXXXIII, Issue 95, 22 April 1912, Page 2
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