HASTINGS STARR-BOWKETT SOCIETY.

Hawke's Bay Tribune, Volume XI, Issue 199, 16 August 1921, Page 5

HASTINGS STARR-BOWKETT SOCIETY.

The annual general meeting of the Hastings Starr-Bowkett Buiiuing Society was held in the Old Library Building on Monday evening, the chairman, Mr. XV. Y. Dennett, presiding over a large attendance. The directors’ report read as follows :— “The directors have pleasure in stating that the result of the years’s working has again been satisfactory. Since the last annual statement was before you another issue has been floated, but there are still quite a number of shares that can be allotted should anyone desire to take up shares. Seventeen appropriations were held during the past year, four in the No. 1 issue, six in the No. 2 issue, four in the No. 3 issue, and three in the No. 4 issue. The total number of shares remaining on the register in the No. 1 issue is 163, of which all, with the exception of eight, have received the benefit of an appropriation; As there are seven shares that do not participate in the sharing of the profits in this issue, the £2,915 8s lOd standing to the credit of the profit ahd loss account is equivalent to £lB 13s 9fd per share, an increase of £2 10s 10.}d per share compared with the figures of a year ago. There now being only eight shares to receive loans it is quite safe to anticipate that a start will be made with the winding up of this issue before next annual meeting. In the No. 2. issue there are 196 shares remaining on the register, of which 147 have received appropriations, leaving 49 still to receive loans. There are 33 shares in this issue that do not participate in the sharing of profits, consequently, the £1,755 15s lid standing to the credit of the profit and loss account is equal to £lO 15s 3d per share, an increase of 13s 7d on last year’s figures. The No. 3 issue has a total of 320 shares remaining on the regis ter, of these the holders of 20 shares have elected to discontinue the payment of subscriptions and consequently do not participate in the sharing of the profits. Therefore the £1,785 5s 6d standing to the credit of the profit and loss account is equivalent to £5 11s 6|d per share. The net profit earned per share during the year under review is 18s B£d. In this issue 112 shares have received appropriations. The No» 4 issue, which commenced operations in December last with a total of 675 shares, has £B4 Ils 3d standing to the credit of the profit and loss account which equals 2s 6d per share profit for the seven months it has existed. The actual appropriations made since the inception of the society have been as follows -— By ballot: No 1 issue £23,800, No 2 £15.400, No. 3 £6500, No. 4£Boo~ total £46,500. Bv sale: No. 1 issue £16,800, No. 2 £ll.lOO. No. 3 £6-500 No. 4 £500; total £31.900. Grand total £81.400. The three retiring directors are Messrs AV. Hart, AL Johnson, and T. Styles, and as no further nominations were received, will Ik? re-elected.” Th report and balance-sheet were adopted. Mr. Geo. Hartshorn was re-elected shareholders’ auditor for the ensuing year. Appropriations of £5OO bv sale were then hold in the No. 1 and No. I issues. As no tender was received for the monev in the No. 1 issue the appropriation was decided bv ballot and went to group No. 42. The sale in the No. 4 issue realised £3'4 per centum for £3OO. and £l7 per centum for the remaining £2OO.