WAIRARAPA INVESTMENT

Evening Post, Volume CXXVIII, Issue 4, 5 July 1939, Page 14

WAIRARAPA INVESTMENT

Directors of the Permanent Investment and Loan Association of Wairarapa in their 66th annual report state that the results for the year ended May 31 enable a dividend of 6 per cent, to be credited to shareholders on their capital, plus a bonus on shares of three years' duration and over. During the year 70 shares matured and 38 "were withdrawn, representing a cash distribution of £4120 9s 3d. The demand for shares is very keen, applications largely exceeding the number that can be allotted. Shares now total 1477. Applications for mortgage loans again exceeded the amount for the previous year. The balance of the mortgage advance account is £84,508. The report and balance-sheet were adopted at the annual meeting held at Greytown on Monday. The chairman, Mr. W. A. Tate, referred to the great loss to the association caused by the deaths of Mr. D. P. Loasby and Mr. R. W. Tate. The former had been a director since 1900 and chairman for 19 years, and the latter had been solicitor to the association since 1886. The retiring director, Mr. H. G. Williams, was re-elected, and Mr. L. R. Huntley was elected a director in succession to the late Mr. Loasby. Messrs. Mark Maxton and G. W. Sellar were reappointed auditors.