MANAWATU CO-OPERATIVE BUILDING SOCIETY

Manawatu Times, Volume LIII, Issue 6672, 27 July 1928, Page 6

MANAWATU CO-OPERATIVE BUILDING SOCIETY

annual meeting and ballots.

At the annual meeting of the Manawatu co-pperativo Building Society htfd last night there was a good attendance of about thirty members. Mr W. E. Ward presided. ' The chairman in formally moving the' adoption of the report., and 'balancesheet (already published) remarked that £40,000 of the Society’s funds had been placed on loan to 94 shareholders enabling them to secure their own homes free of interest. ‘Referring to the accounts ho stated that £8,850 hhd been' received during the year , in repayment of loans.. , : Mr. Harrington (secretary) touched upon the stability of the Society, pointing out that the accumulated funds to date had reached £6OOO, which indicated a remarkable record for so young a society. 1 Election of Officers. Directors, . thp retiring . directors, Messrs W. E. Ward and G. D. Pattlo were re-elected. Mr. R; W. Priest who again offered his services as auditor was also re-elected. . V Result'd x. allots. The result of ballots in Nos. 1,2 and s'Groups resulted as follows: — No. 1 Group ,tender for £7OO, realised £23 10s per £IOO. In No. 2 Group, the ballot for the appropriation of £SOO was won by Mr. fc>. B. Gilshnan, of Palmerston North. No. 5 Group an appropriation of £7OO was. ballotted, Mjr. J. J. Simpson being the winner. A vote of thanks to the directors and tho scrutineers was carried by acclamation. On the motion of Mr. Priest tho secretary and his state were also accorded a hearty vote of thanks for their efficient work during the year.