Co-operative Building

Manawatu Times, Volume LIX, Issue 7460, 10 May 1934, Page 8

Co-operative Building

PALMERSTON NORTH SOCIETY

The monthly meeting of the board of directors of the Falmerston North Cooperative Building Society was 'held on Tuesday evening. Present: Messrs F. Jackson (in the chair), U. Smillie. H. Findlay Wilson, J, B. Gerrand. S. J. Watson..S. W. Bap ley and M. A. Eliott. A ballot was held in No. 6 group, Mr A. N. Kelly, of Tokomaru, l)cing suecosful in drawing £IOOO free of interest. In group No. 3 a £SOO ballot was placed ou deposit. In No. 5 group a loan of £SOO drawn by ballot was passed for payment. In No. 0 group a loan of £-00 tender was approved. A loan for £OOO (ballot) submitted !n group No. 8, to cover the cost of erection of a new house in Feilding, was held over pending the valuer’s report. A report was submitted with reference to arrears, stating, inter alia, that the members were maintaining their payments very regularly. Ballots and tenders will' be held in several groups at the next meeting. It was decided to increase the share list in No. 10 group by 200 shares, applications already being received for IS shares, and the advantages . of allowing the back subscriptions to remain in suspense until the ballot was drawn being a good inducement for new members to join up.