THE AUCKLAND CO-OPERATIVE BUILDING AND INVHSTMENT SOCIETY.

New Zealand Herald, Volume XVI, Issue 5491, 23 June 1879, Page 7

THE AUCKLAND CO-OPERATIVE BUILDING AND INVHSTMENT SOCIETY.

The seventh annual meeting of the Auckland Permanent Co-operative Building and Investment Society, was held on the 17th June, at the "Voung Men's Christian Association roama. There wag a good attendance, and Colonel Haultain presided. The minutes of last meeting were read and confirmed. Annual Report.— The Secretary, Mr. John Batger, read the annual report and balanceaheet. The report etated that the receipts during the year ending the 31st of March, were £7C.921 13a 9d, and the diibursements, £70,997 103. The balance of profit, after paying 8 per cent, per annum to investing shareholders, is £1742 19a 7d, which admits a bonus of 3 per cent, per annum to all members entitled to participate. The report contains an interesting comparative statement of the business of the society fiom March, 1875, to March, 1879, which shewed favourably for the last year. The society's capital, by withdrawals, was reduced by £19,763 10s 9d, but that amount had been moro than replaced by subscriptions received on account of shares, including capital and interest, so that the amount at credit of investors on the 31st of March was £62,139 3s 9d, against corresponding figures for the previous year of £58,454 13s Id, the result being chiefly owing to the large number of new investing shares taken np during the year. Iβ loans the cash value of the society's advancee was £59,043 8s Bd, being an increase of £5499 13» lid, as compared with the preyious year's accounts. The low rate of interent offered by the society had tbe intended effect of reducing the amounts held as deposits to £3799 Is 10d, but iu view of increased business, it now offered 7 per cent, per annum interwt on sums lodged for six months. The Waikato agency had worked saHs c actori'y, and a considerable business was secured in that district. During the year 4101J new shares had been issued, and, on the 31st of March, there were on the register 7753J inventors' shares, producing per week £387 13s Gd, and 3619} borrewed shares, producing per week £299 Cs 6d: making a total of 11,373$ shares, producing £687 per week. The report also referred to the proipects of the society in a very hopeful spirit. —On the motion of the Chairman, seconded by Mr. Battley, the report and balanceaheet were adopted, and ordered to be printed for circulation. New Ofwok-beajikks.—The following office-bearers were elected for the ensuing year :—President, Colonel Haultain ; vicopreaident, Mr. T. Macffarlane; treasurer, Mr. G. W. Owen. Committee :- Messrs. T. Buddie, F. Cherry, W. S. Cochrane, F. E Compton, J. Edson, H. W. Garland, J. Potter, T. Thompson, and J. Watts. Auditors : Meisrs. F. Battley and K. C. Carr. Votb OF Thakks.—A vote of thanks was aecorded to the trneteee of the society— Messrs. J. Koberton, B. Tonks, and J. L. W leon.