STARR-BOWKETT.

Mataura Ensign, 22 August 1910, Page 3

STARR-BOWKETT.

INVERCARGILL SOCIETY. Following is the report to be submitted to the annual meeting of subscribers of the Invercargill Starr-Bow-kett Society in Allen's Hall on 31st inst.:—

I Your Board of Directors have pleasure in presenting berewith the fourteenth annual report and statement of profit and loss for the year ending July 31, 1910. Group No. I—During the year 23 appriated shares and' eight unappropriated shares were withdrawn. The capital now consists of 1015 shares. The halance of profit and loss now stands at £8912 12s Bd, which equals £8 Iss 8d per share, and becomes available for distribution at termination of the group. Sixteen appropriations have heen passed through during the year, £7300 by ballot and £SOO by sale. Owing to no offers being received, seven sale appropriations (£3500) were balloted for. The total advances to shareholders to date are £93,231, of which £47,386 lis 7d has already been repaid. Shareholders will notice that during the past year nearly all the money in this group has gone out free of interest, there being no offer for the sale of appropriations. Your directors would point out that any [appropriation purchased at the minimum of £lO per £IOO still affords a good investment, and it will have about I seven years' currency.

Group No. 2—During the year six appropriated shares and 39 unappropriated shares were withdrawn. The capi- *■".! account now consists of 1125 shares. The balance of profit and loss stands at £6368 Is 4d, which equals £5 13s 3d per snare, and becomes availab 1 © for distribution at the termination of the group. There have been 12 appropriations during the vear, £3500 by ballot and £2400 by sale. The total advances to date are. £45,190 18s, of which £15,146 5s 7d have already been repaid. _.. Group No. 3—Owing to the demand of the public for shares in the society the directors decided to float a third group. They are. pleased to report that group No. 3 met With good support. Out of 1500 shares 1095 shares were subscribed. The first "pay day" was March 14, 1910. We would ask all shareholders to assist the directors in placing the balance of unsubscribed shares.

General.—During the year your directors have held 20 meetings, all of which were well attended. The retiring directors are Messrs Galhraith, Perrin, and Stirling, who, being eligible for reelection, have given the necessary notice in accordance with the rules. The retiring auditors are Messrs R. Allen and J. E. Taylor, who have given the necessary notice of their intention to become candidates for the position, and are eligible for re-election.