PROVINCIAL LAND AND BUILDING SOCIETY.—PERMANENT.

Nelson Evening Mail, Volume V, Issue 9, 11 January 1870, Page 2

PROVINCIAL LAND AND BUILDING SOCIETY.— PERMANENT.

The annual meeting of this society was held at the Fleece Hotel last night, when only a small number of shareholders were present. Mr. H. B. Farquhar having been called to the chair, read the Auditor's report. The Secretary then read the followiug report, together with the balancesheet, and profit and loss account for the year ending 31st December, 1869: — "In presenting you with the balancesheet and accounts of the Society, with a statement showing the profits of the Society up to the Slst December, 1869, your directors would beg to refer you to the report of the auditors attached thereto. " The directors have for some time past been of opinion that the shares were valued too highly, and a statement of value to 30th June last having been laid before them, they by resolution agreed that as the second series would arrive at full value at or near this date, a careful audit of the accounts should be made. " This has accordingly been done, with the following result, after a most searching and painstaking inquiry by the auditors: — No. 2 Series ... £24 14 5£ 3 21 8 2i 4 19 12 6£ 5 ... ... 17 19 5 6 15 7 1 7 13 6 8 "By order ofthe Directors, " Jno. Percy, " Secretary." On the motion of Mr. Darby, seconded by Mr. Thornton, the report, together with the balance-sheet and profit and loss account, were unanimously adopted. On the motion of Mr. Johnson, seconded by Mr. Thornton, it was resolved that the second series of shares be released, on payment of ss. 7d. per share, and that shareholders in the other series be allowed to withdraw, on notice to that effect, according to the rules, on payment of the several balances due by them according to the auditors' statement, holders of realised shares paying the current month's interest. A ballot then took place for priority of withdrawal, when seven shares were ballotted out and directed to be paid.