MANAWATU CO-OP. BUILDING SOCIETY.

Manawatu Standard, Volume LI, Issue 204, 30 July 1931, Page 8

MANAWATU CO-OP. BUILDING SOCIETY.

ANNUAL MEETING. The eighth annual general meeting of the Manawatu Co-operative Building Society ( Terminating) was held last evening. The chairman of directors, Mr J', J. O’Shea, presided over a good attendance. v Moving the adoption of Ere report and balance-sheet (already published), Mr O’Shea said that they disclosed that very satisfactory progress had been made during the year. The large attendance of members at the meeting was an indication of the manner in which they were interested in the society.. Notwithstanding the depressed state of finance throughout the country, and of the accumulated unemployment, the society had not been affected said Mr O’Shea. The shareholders had been meeting their obligations in a very satisfactory .manner. “A building society such as this has the function to perform useful service to the community in addition to being a safe investment. The dividends provide a means for people to make their own homes and it leads to thrift in the community. It can be said that investments in building society affairs are very sound,” continued Mr O’Shea. “I have never been associated with a directorate that has given so much, care to matters brought before it. 1 want to voice my appreciation of the way the secretary and staff have performed their duties during the year and also congratulate the society on the excellent service it • is obtaining from its agencies,” concluded the speaker. Following the adoption of the report, Mr Harrington returned thanks on behalf of himself and his staff. The society had grown considerably and was still developing. The assistance of the directors was appreciated by. the staff. “The society is in almost an impregnable position,” he concluded. Mr O’Shea read a letter from the auditor, Mr R. W. Priest, in which he expressed pleasure at the manner in which the society’s books had been kept. Mr O’Shea commented that the satisfactory state of the books reflected credit on the staff. \

There being no other nominations, Messrs G. D. Pattle and W. E. Ward were returned unopposed to the directorate. Mr Priest was re-elected auditor.

The disposal of six appropriations was then proceeded with, Messrs Ongley and Neal, acting as scrutineers. Nos. 3 and 6 groups were disposed of by tender, the remainder being ballotted for. Results were as follow: No 1 group (£700), Mrs H. W. Haybittle, Palmerston North; No. 2 group (£500), Mr G. H. Neal, Palmerston North; No. 3 group (£700), Mr F. J. Duckworth, Palmerston North); - No. 4 group (£700); Mr T. A. Ronayne Wanganui (£500); No. 5 group (£700), Miss Glover (Wanganui, two shares) and Mr F. W. Heffernan (Feilding, three shares); No. 6 group (£700), Manawatu-Machinery Exchange Co. The meeting concluded with votes of appreciation to the scrutineers, the directorate, the chair, and the Press. At a subsequent meeting of directors, Mr G. B. Cope, was elected chair, man.