Feilding Building Society
ANNUAL MEETING The 39 th annual meeting ‘of the Feilding Permanent Building, Society was held yesterday afternoon, Mr. W. E. Carthew, chairman of directors, presiding. . Speaking to the motion for the adoption of the annual report and balance sheet, the chairman said that the society was in a very strong position despito a most, difficult year. A great deal of additional work had been thrown on to the management by the operation of the National Expenditure Adjustment Act which called for a 20 per cent reduction in-mortgage interest. This “cut” had seriously affected the society ’s earnings.
Mr. J. Graham said that it was expected that the difficult times through which the country was passing would be reflected in the society’s ‘ business, nevertheless ho felt that shareholders couid congratulate the directorate upon the success of the year’s operations.
Messrs E. Sf Cornfoot and B. N Sandilands, retiring directors, were reelected. Mr. A. H. Maguire was reelected auditor., , , \
The formal resolution allocating the profits was carried and the business concluded with the carrying of a resolution recording shareholders’ appreciation of the services of the society’s manager, Mr. Edmund Goodbehere.
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https://paperspast.natlib.govt.nz/newspapers/MT19321101.2.13
Bibliographic details
Manawatu Times, Volume LV, Issue 6993, 1 November 1932, Page 3
Word Count
191Feilding Building Society Manawatu Times, Volume LV, Issue 6993, 1 November 1932, Page 3
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