DEPOSIT & MORTGAGE, LTD.
The 15th annual report of the Wellington Deposit, Mortgage, and Building Association, Ltd., shows that the net profit o;i the Year's business is £1843 17s .7d, which, added to £330 3s 6d brought forward from last year, less £100 directors' fees, makes a 'toUil of £2074 Is Id. The directors recommend that this sum be applied as follows : The payment of a dividend for the year at the rate of 5 per centum per annum, which will absorb £1250; a sum of £400 to be placed to the reserve account; and th<j balance, £424 Is Id, to be carried forward to next year's account. iJnying the year the lease of tho association's office premises expired, and, the position having proved suitable for requirements, a fresh lease was taken. In order to secure a new lease, an increased rental had to be paid. Two directors—Messrs. W. Cable and C. Palliser—retire, and offer themselves for .re-election. The retiring auditors—Messrs. E. T. Badharu and J. H. G. Rowley—offer themselves for re-election.
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https://paperspast.natlib.govt.nz/newspapers/EP19160420.2.30
Bibliographic details
Evening Post, Volume XCI, Issue 94, 20 April 1916, Page 4
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171DEPOSIT & MORTGAGE, LTD. Evening Post, Volume XCI, Issue 94, 20 April 1916, Page 4
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