HASTINGS STARR-BOWKETT BUILDING SOCIETY.

Hawke's Bay Tribune, Volume II, Issue 185, 22 July 1912, Page 3

HASTINGS STARR-BOWKETT BUILDING SOCIETY.

The annual ri-port ami balance-sheet to be presented to the annual meeting of shareholders in the Hastings StarrBowkeit Building Society on August sth is as follows.: —

The directors in presenting this the tenth animal balance-sheet, hate pleasure in stating that the result ot the vear's working has again- been satisfactory. The rather large number of withdrawals has somewhat restricted the operations of the society. During the >ast ye.tr £81)6 S 8 was withdrawn from No. 1 issue and £1133 3 J from No. 2 issue, making a total of £l!)3f> 12 -, which would have allowed lor practically four more appropriations. Six appropriations were field in No. 1 issue and five in No. 2 issue. 1 lie total number of shares remaining on the register in No. 1 issue is 439, ot which 186 have received appropriations, 'caving 253 shares still to receive ipnropriations. The' £21!)9 9 2 standing to the credit of profit ami «■ - a<. i. . t is equivalent to £5 11 I per Miur-’ i’>r the ten years the issu? has te.'U m existence. The net profit earned per share during the past year is 17 3. In the No. 2 issue the total number of shares remaining on the register is 196. of which 126 have received appropriations. leaving 370 shares still to receive appropriations. The £1661 13 10 standing to the credit ot profit and loss account is equivalent to £3 7, 3 per share for the seven years the issue lias been inexistence. '1 he m-t profit earned per share during the past tear is 15 o. hi the No. 1 issue the appropriations since the issue was started have been £12,000 by ballot free of interest,..and £12.5(H) bv sale, making a total of £21,500. In the No. 2 issue the figures ■ire £6700, £7OOO and £13,700 respeetivelv. The totals for the two issues re £18.7(K) bv ballot and fil'J.-fiOO by ‘sale, making in all £35,200. The following table showing the profits accrued per share and the actual profit earned per share each year during the Lust six years will no doubt be of interest to shareholders: NO. I. ISSUE. Total Profit. Prolit-dur-ing year.

1912 3 7 3 15 3 Tho three retiring directors arc Messrs. J. Garnett, M. Johnson, and J. D. Rivers, and, as no further nominations were received, vv ill be 10elected. NO. 111. ISSUE. Your directors have made a strenuous effort to float a No. 3 issue but have not received the support they anticipated. At present 500 shares have actually been applied for, but it is necessary, according to the rules of the society' that before an issue can be started a minimum of 600 shares must he applied for, and your directors trust that ail members in No. 1 and No. 2 issues will use their best endeavouis to secure applicants for the remaining 100 shares. Your directors feel that it is highly in the interests of the society and also to our town generally that the 3rd issue be successfully floated.

1907 £• s. d. . 2 6 10 s. <1. 11 0 1908 .. 3 0 2 13 4 1909 3 10 4 10 2 1910 4 3 5 13 1 1911 ..501 10 S 1912 5 17 4 17 3 / NO. II. ISSUE. Total Profit. Profit-dur ing vear. I, H. <1. s. d. 1907 15 8 11 S 1908 1 1 1 5 5 1909 1 13 S'. 12 7} 1910 2 4 1} 10 5 1911 2 11 10 4 jj