PEOPLE'S TERMINATING BUILDING SOCIETY.

Nelson Evening Mail, Volume XLI, Issue 317, 22 December 1906, Page 2

PEOPLE'S TERMINATING BUILDING SOCIETY.

ANNUAL MEETING. ' The third annual meeting of the Peo pie's Terminating Building Society was held, at the Wakefield Buildings las! evening. There was but a small at tendance of shareholders. Mr J Shields, chairman of directors, occu pied the chair, and moved the adoptioi o fthe report and balance-sheet.. Tht report stated, inter alia, that the bal-ance-sheet for the year, with. the balance (£117) brought forward 'from last year, showed a credit in profit and loss account of £172. During the year five appropriations had beeil made;— four by ballot and one by fender, the latter realising £14 per £100 The total 7 nvimber of shares in the Society was 412. It was also shown that loans to members amounted to £3400. The rate of profit on the year's transactions worked out at 4£ per cent. Eules were amended to the effect that the Board of Directors consist of nine in place of twelve; by doing away with" a pay-night and substituting in lieu a 9 a.m to 6 p.m. pay-day; and by doing away with the requirement of two directors at pay-in hours. A vote -of thanks to the Board of Directors was passed and the meeting closed with a vote of thanks to the chairman.