DUNEDIN STARR-BOWKETT

Evening Star, Issue 17393, 1 July 1920, Page 10

DUNEDIN STARR-BOWKETT

Tlie twenty-fourth annual meeting of the Dunedin Starr-Bowkett Building Society, held in the Stuart Street Hall last night, was attended by about 50 shareholders.

Mr S. Smith (chairman of directors) presided. In moving the adoption of the report and balance-sheets, he said that the different groups were still making steady progress, ami iu every way fulfillimr the intentions of t lie society’s founders. In these days of commercial and industrial unrest it must bo gratifying to shareholders to feel that they hiid be their membership in the society" clone at least something towards fostering that spirit of thrift and co-operation which would do much to relieve the existing condition of things. He believed that the best time ever experienced bv this and similar societies was about to dawn. The past year had been a. prosperous one for the society, and lepayments had been met promptly. In Xo. 2 group all the subscriptions had been placed to the credit of members, and the group was in a somewhat similar position as Xo 1 croup was in in its eighteenth year. The profit and loss equalled £l4 9s per share. In Xo. 3 group the share list stood at 1.125’. and the profit and los s at £5 Is Id per share. In Xo. 4 group the total number of shares was 1.543. and the profit and loss account stood at £527 Is 9d. During the year the board had lost the services ol Mr M. Cohen, who had been associated with it for over 23 years. The thanks of the directors were dre toHhe secretary and staff fur their excellent services.

Mr It. ’Stnrcr seconded the motion. Mr G. T. Sccones. one of the directors, referred brieiiy to the appointment of Mr A. Cable to the vacancy on the board created by the resignation of Mr Mark Cohen, remarking that the appointment for the remainder of the society s ■ ear was made after very careful consideration, and that it was unanimous.

Mr R. Duncan congratulated the directors on the progress of the Xo. 4 group, and suggested that they might pursue an even more vigorous policy in pushing forward the society’s interests.

The Chairman remarked that Xo. 4 group was doin' better than was anticipated. Several clusters of five sha-es had been taken up .since the balance-she-t was prepared. _ Shareholders could assist by telling their friends about the doings of the society. The motion was carried.

On the motion of Mr P. Thomson, seconded by Mr R. Duncan, the remuneration of the directors was fixed at the same sum (£l2O in all) as last year, and Messrs G. T. Scoones and T. J. "Walker were reelected without opposition. Mr A. Cable’s appointment as a director was ratified.

These three directors returned thanks for their election. It was moved by Mr P. Thomson and seconded by Mr S. T. Mirams that the remuneration of the auditors he the came as last year, and Mr J. G. Paiteisnn (the retiring auditor) was re-elected. Mr A. Cable moved that the shareholders congratulate Mr Mark Cohen on his elevation to the Legislative Council, the mover remarking that in his mi d he always thought of Mr Cohen’s work for the City as comparable with that cf Dr fetuart.

—Mr James Brown seconded, observing that Mr Cohen was one of the most unselfish men he had ever met. —The motion was carried with much cordiality. The eighty-seventh appropriation of £SOO in Xo. 3 group was drawn by cluster 39, held bv two shareholders; and the eighty-eighfti appropriation of £SOO was sold—£3oo at a premium of £2O and £2OO at a premium tof £lB. The thirteenth appropriation of £SCO in Xo. 4 group was drawn by cluster 116, held by two shareholders. ,At a special meeting held immediately after the annual meeting a new scale of solicitors and valuers’ fees was adopted. I here _ has been no change until now in the original scale fixed upon 24 years a?o. Mr F. Calvert gave a statement showing that the solicitors’ charges were even now much lower than the authorised Dominion charges for ordinary work of a similar character, though the duties had considerably increased.