CO-OPERATIVE BUILDING

Evening Post, Volume CVII, Issue 146, 21 June 1924, Page 8

CO-OPERATIVE BUILDING

WELLINGTON SOCIETY.

The fourth annual meeting of members of the Wellington .Co-operative Building Society was held at the Accountants' Chambers on Wednesday evening. There was a fair attendance. The directors' report and the balance-sheet were adopted. The accounts of JS T O . 1 group show that the total assets at 30th April last were £23,204, including advances on mortgage £19,146. The total amount contributed by members to the date of the balance is £18,224. The working expenses for- the year were £507. Appropriations totalling £7800 were made during the year. The directors reported the formation of No. 2 group, which came into operation .in March last, and is an assured success. Messrs. H. Amos and L. A. George were re-elected as directors unopposed, and Messrs. Watkins, Hull. Hunt, and Wheeler were re-elected auditors. At a special meeting, held the same evening, several amendments of the rules were mgde, as the result of experience in the work of the society. An important rule was added providing that with the consent of the members of any group, a fair division of the profits of the group may be made at any time after ten years from the date of commencement, instead of waiting until the life of the group has expired.

A vote of thanks and confidence in the directors and officers of the society was carried unanimously.'