LOANS FOR BUILDING.

Manawatu Standard, Volume LIX, Issue 204, 29 July 1939, Page 10

LOANS FOR BUILDING.

MANAAVATU CO-OP. SOCIETY. The sixteenth annual general meeting of tlie Manawatu Co-operative Building Society was held on Thursday, when Mr G. G. Priest (chairman) presided over a good attendance oi shareholder*. The chairman, in moving the adoption of tho report and balance-sheet, said that tlie shareholders wore to be congratulated upon the sound financial position of the society. During the year just closed cash advances to shareholders amounted to £18,281, and £14,345 came into the society’s funds from shareholders for repayment •of loans received by them free, of interest. The total assets amounted to £94,021, which was a safeguard for the protection of the shareholders’ capital. The chairman said during the past, 16 years of tho society’s existence a great national service had been rendered in so far as thrift and home ownership were concerned. Mr J. J. O’Shea seconded the motion, which was carried unanimous-

ly. Messrs G. G. Priest and G. D. Pattle were re-elected, directors and Mr R. AA r . Priest was re-elected auditor. The thanks of tho society were extended to tlie director,-,, secretary, solicitor and auditor for efficient services rendered, the motions being carried by acclamation.

Tlie following were successful in the appropriations: No. 1 group (ballot), Mr J. Egan £3OO and Mrs L. A. Richardson £3OO, Palmerston North. No. group (ballot), Mr A. AAL Daun £3OO and Mr F. Fleck £2OO, Palmerston North. No. 3 group (ballot), Mr \A r . M. Crystall £SOO, Palmerston North. No. 4 group (ballot), Mr D. J. Mnliar £7OO, AVellington. No. 5 group (ballot), Air AA T . Donnelly £7OO, Levin. No. 6 group (ballot). Air J. P. Beattie £2OO. Palmerston North and Mr J. Campbell £SOO, Longburn, No. 7 group, Air D. Ell wood £3OO, Foxton, and Airs AI. Ferguson £2OO, Feilding. Messrs’ Roy Taylor and G. D. Pattle acted as scrutineers.

Air O’Shea (director) was granted five months’ leave of absence on account of a holiday visit to America and Canada. He was accorded the society's best wishes for a pleasant trip and a safe return. Air Pattle was elected* chairman for the ensuing year.