BLENHEIM BUILDING SOCIETY.

Marlborough Express, Volume XXXIV, Issue 189, 4 August 1899, Page 4

BLENHEIM BUILDING SOCIETY.

At the annual general meeting of the Blenheim Building Sooiety, held at the Secretary's office, Mr B. B. Smale m the chair, the election of offioere resulted as follows :—Directors, Messrs R. H. Smale, J. Brown, and W. B. Eoung; Auditors, 0. Bimson and R. Wanden. After passing the annual report and balance sheet, the meeting adjourned. The report reads as follows : — Your Directors have pleasure m placing before you the two halfyearly balance sheets for the twenty third year of the Society's existence. Though it has been considered advisable to pay half-yearly dividends at the rate of only 3£ per cent, per annum, and though, owing to a fire occurring which destroyed, the house on the only property owned by the Society, a loss was made, the position of the Society to-day is sounder and the prospects brighter than they have been for years. With a good Reserve Fund and capital well invested and an increasing list of shareholder, the Blenheim Building Society is annually becoming a more sound and prosperous institution, and your Directors would point out that the greater the number of shareholders the larger the scope for operations and the greater the benefits to all concerned, so all who are at present interested m the success of the Society should canvas others to join and receive the privileges at present enjoyed by themselves. During the past year twenty-nine shares have been taken up and twenty two withdraw^ the "list now showing 255 shares. £441 has been lent on mortgage and share security, and th» Sooiety now has £1290 out at interest amongst members, m addition to whioh your Direotors have arranged for further advances to the extent of £520. During the coming half yaar shares m series 11 Y " will mature and your Direotors have made provision for prompt.payxnent of the £180 required to pay to members. The retiring Direotors are Messrs J. Brown, R. H. Smale, and F. W. Adams, who are eligible for re-election.