EQUITABLE BUILDING COMPANY

Evening Post, Volume CVII, Issue 27, 1 February 1924, Page 8

EQUITABLE BUILDING COMPANY

ANNUAL MEETING.

The forty-sixth animal meeting of the Equitable Building and Investment Company of Wellington, Ltd., was held in the Chamber of Commerce rooms ait noon, Mr. D. M'Lean presided. The annual report showed that an interim dividend, absorbing £3000, was paid in July laat, leaving £9154 3s Id for appropriation. The directors recommended allocation as follows;— Payment of a further 5s per share, £3000; payment of 5s per share, being postponed dividend to 30th June, 1922, £3000; transfer to reserve, £1000; to be carried forward, £2154 3a 4d. . The balance-sheet showed the following fignres:—Debit: Authorised capital, 15,000 shares at £10, £150,000; paidup 12,000 shares at £5, £60,000; reserve.fund, £78,250; ; added -for 1923, £1000; contingent securities depreciation account, £5767; transfer to profit and loss, £767; depositors and interest; £217,338 17s 2d; investors, £1509 8s; sundry credit balances, £6131 0s 9d; profit and loss account balance, £8154 3s Id; total, £377,383 9s. Credit: Mortgages and interest, £345,----985 9s 9d; sundry debit balances, £402, 10s sd; Bank, of New Zealand, £6132 18s lOd; New Zealand Government In- ' scribed Stock (depreciation provided, face value £25,000), £24,862 10s. The adoption of the report was moved by the chairman, whose remarks are published elsewhere, and the motion was carried.. _ Mr. J. M'Eldowney ■ was reappointed director, and Messrs. Bucholz and Wheeler auditors. •■■■■•..