MANAWATU CO-OP. BUILDING SOCIETY.

Manawatu Standard, Volume LII, Issue 204, 29 July 1932, Page 3

MANAWATU CO-OP. BUILDING SOCIETY.

ANN UAL MEETING. The annual general meeting of shareholders of the Manawatu Cooperative Building Society (terminating) was held last evening, Mr G. B. Copo, chairman of directors, presiding over a good attendance of ladies and gentlemen. Apologies for absence were received for Messrs G. D. Rattle and R. W. Priest.

Mr Copo expressed gratification at the large attendance, stating that it demonstrated the interest evinced in the society. The annual report (already published in the “Standard”) and the balancesheets were adopted. Speaking on the report, Mr Cope said that the society’s position was clearly shown. In "all £IOI,OOO had been lent on mortgage by the society during its eight years’ existence and £71,(1C0 remained outstanding after £30,000 had been repaid. The society, said Mr Cope, had been instrumental in many pooplo being ablo to secure their homes free of interest. _lt was gratifying to find a profit in each group, ho added. Two directors, Messrs Cope and G. G. Priest, retired by rotation, and, as Messrs H. G. Simpson and C. L. Turnbull were also nominated, an election had to ho held. Mr J. J. O’Shea took the chair during the election, which resulted in Messrs Cope and Priest being returned. Messrs T. Hastings and E. Bleasel acted as scrutineers. The successful nominees returned thanks. Mr R. W. Priest was re-elected auditor.

Five appropriations, each of £7OO, were made, No. 1 group being by tender and Nos. 3,4, 5 and 6 being by ballot. No. 2 group was for £SOO and was by tender. The result of tho appropriations was as follows: —No. 1 group, Mr E. A. Harrington (Palmerston North) £lO per £IOO for £500; No. 2 group, Dr E. C. Barnett (Palmerston North), £lB 5s per £IOO for £500; No. 3 group, Mr T. G. Graham (Palmerston North), £300; and Mr V. G. Lawrence (Woodville), £200; No. 4 group, Mr A. N. Beattie (Palmerston North), £700; No. 5 group, Mr P. G. Alabaster (Wanganui), £IOO and Mr P. A. Ander (Wanganui), £600; No. 6 group, Miss E. E. Trask (Palmerston North), £300; and Mrs A. Taylor (Wanganui), £2OO. Messrs L. Copo and G. Niel acted as scrutineers and Miss E. E. Trask drew the marbles.

Votes of appreciation were accorded the solicitors, Messrs G. I. McGregor and M. H. Oram, the secretary, Mr W. C. Harrington, and tho office staff, the scrutineers and the Press.