THE PERMANENT BUILDING SOCIETY OF NELSON

Nelson Evening Mail, Volume LVI, 11 April 1922, Page 5

THE PERMANENT BUILDING SOCIETY OF NELSON

SPECIAL MEETING OF DIRECTORS'

A special meeting of the directors of this society was held last evening, when the secretary produced a copy of tlio profit and loss'account of the society’s operations for' the half-year ended March 31st, 1922, which .was considered most satisfactory, considering the anxiousithnos most loan societies have experienced during the past six months. . Notwithstanding the money stringency, and the society being compelled by law to pay an extra interest on all deposits, the ’erases profits .made for the past half-year was £3,146 19s 7d. After setting aside the sum or £949 14s 2d for accrued interest on deposits to the 31st March, the directors declared a profit at the rate or 5 per cent per annum, absorbing £1,687 10s 9d • added £SOO to the reserve fund, which now stands at £6000; and carried a balance of £9 14s Md; forward to next half-year. Shareholders in the maturing series (C.Y ) can obtain the value of their shares, £2O 7s each, on or after the 17th last., a mil a considerable sum, amounting to £4,500, will bo paid out under this heading. Loans current at the 31st March, 1922, amounted to £136,264, against £132 661 on the 30th September last, beiim an increase fpr the half year cf £3.603. The number of shares on the share register on the 31st March amounted to”ll,384, being an increase for the half year of 404 shares. An'advertisement in this issue states that a new series of shares will date from Monday, 17tli inst., and the public can with confidence bake up shares in the society as a. safe and profitable investment.