LOAN AND INVESTMENT SOCIETY.

Lyttelton Times, Volume LXXXI, Issue 10269, 10 February 1894, Page 3

LOAN AND INVESTMENT SOCIETY.

. The sixth annual meeting of the Premier Building Loan and Investment Society, of Lyttelton, was held on Wednesday evening. There was a fair attendance, and Mr S. R. Webb, chairman of directors, presided. The report stated that the business for the year had been very successful, and recommended that 7 per cent interest be paid to B shareholders, in accordance with rules, which read that the interest allotted be compounded every six months. The balance-sheet ' showed the receipts to be £1946, and expenditure as follows Advances £1155, withdrawals £386, overdraft repaid £276, interest on overdraft £l3, management expenses £B3, insurance, &c.,£33, overdraft at bank£9l. The liabilities were £3708, and the assets £4470, leaving a credit of £762. The Chairman moved the adoption of the balance-sheet and report, which was carried unanimously. The Auditors, Messrs E. W. Arnold and T. C. Field, complimented the society on its position, and on the able manner, in. which the books were kept by the Secretary. Messrs S. E. Webb, T. Dyer, T. Hay and, P.Semmens were elected directors. A hearty'vote of thanks to the directors, auditors and secretary was carried unanimously. Mr R. W. Arnold was re-elected shareholders’ auditorj and a vote of thanks to the Chairman terminated the meeting.