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PACIFIC STARR-BOWKETT SOCIETY

The ninth annual meeting of the above society was held last evening, Mr J. H. .Hancock presiding. The annual report stated Your directors have to report that a normal year has been experienced. In the No. 1 group the appropriations have numbered nine, and the sum of £3,09J has been advanced to shareholders. The profit and loss account has been further increased by £270 17s 9d, and now totals £2,590 9s Id. As in former years, your directors are pleased to report that there are practically no arrears of payments. In No. 2 group there have been four appropriations, some portions of which are not yet advanced. Tire response to this issue has to some extent been disappointing, arid your directors wish your attention drawn to the fact 'that, while rates of interest may rise, and the money inaket from various causes fluctuate, the StarrBowkett system is advancing large sums free of interest, or, at the most, on a small premium. This fact, brought •prominently before people at the present time, ought to materially increase our membership, Shares in No. 2 group are still being allotted. The Chairman, in moving the adoption ol the report and balance-sheet, said it was pleasing to see that they were in such a satis fact ry position in such bad times, they had more than held their own during the past year. Their income, which went to pay expenses, had exceeded their expenditure in that direction in both groups. He therefore thought shareholders were to be congratulated. The response in regard to No. 2 group had been somewhat disappointing. Members might bring that fact prominently before people, as they might be faced with a time when money would bo verv tight, and the Starr-Bowkett system would he again sought for assistance n ptnehasing and building houses. , *^ r -A-. M’Hutchon seconded the motion, which was carried. Messrs J. H. Hancock and T. B. Leyland were re-elected directors, and Messrs G. Blyth and E. H. Fulton auditors. The directors’ fees were fixed at £45 for the No. 1 group and £ls for the No. 2gronp. On the motion of Mr 31‘Hutchon it whs resolved that it be a recommendation to the directors to take into consideration the question of reducing the amount of premium in the No. 1 group. A free ballot for the 65th appropriation in No. 1 group resulted in cluster 98, held by two shareholders, being drawn. A free ballot for the 13th appropriation in No. 2 group resulted in cluster 12, held by one shareholder, being drawn.

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/ESD19141024.2.6

Bibliographic details

PACIFIC STARR-BOWKETT SOCIETY, Issue 15632, 24 October 1914

Word Count
428

PACIFIC STARR-BOWKETT SOCIETY Issue 15632, 24 October 1914

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