THE ONEHUNGA PERPETUAL LAND, BUILDING, AND INVESTMENT SOCIETY.

New Zealand Herald, Volume XXI, Issue 7002, 26 April 1884, Page 5

THE ONEHUNGA PERPETUAL LAND, BUILDING, AND INVESTMENT SOCIETY.

The tenth annual meeting was held in the company's office, Onehunga, on Thursday evening. Present:—rMr. R. O. Barstow (the ■ President), and about thirty shareholders. The following report of the directors was read :— At the close ol the tenth year of the society's operations/ your directors have to report a steady increase of business. There are now 152 investors, holding 1415 sharer, which have been credited with interest at the rate of eight per cent, amounting to £1623 4s lid. 'I'he reserve fund has been still farther Increased by £158 2s Id, and now stands at £785 9s 3d. After making provision for these amounts in accordance with the rales, there remains * balance of profit of £413 6s 9d,out of whioh your direciors reoommend a bonus of five per cent, on all shares entitled. 'There aro now 246 mortgages current, and no claim has yet been made on the reserve fund. The statement of accounts showed :— Becbipts.—Fees, £56 Is 6d; fines, amount received, £24 ii ; subscription on invest'ng shares, £6117. 4s; repayments on mortages, £5928 19s 2d; of loans on shares, £579 ; deposits, debentures fesuod£39oo 10s; industrial branca, £1611 lis Sd; insurance premiums repaid, £S ; interest on loans, £505 15s 3d; books, pass-books sold, £4 Is; sundries, £9 10s 6d : total, £18.738 17s Id. Dihbubsements.—Fees, survey expenses, £15 15b 6d; loans on mortgage, £8612 10s 6d; on investing shares, £566; deposits, deoeritures paid off, £2744: interest on debentures, £136 10s Id; industrial branch, withdrawals, £1909 19s 9d ; interest on paidup and withdrawn shares, £1827 9s 6d; bonus on ditto, £288 Is; withdrawals u&der rule 72, £800 Os 6d ; insurance, progress payments for re-building. £57714s 7d; premiums advanced, £4 7s ; sundries, £19 5s 6d ; charges, Secretary, audit, books, directors, advertising, printing, and current expenses, £332 6s lid ; bank overdraft, 28th February, 1883,' repaid, £226 12s; balance at credit, £1177 18s Id : total, £18,788 17s Id. The report was adopted, and a bonus of five per cent, as recommended was agreed to. The three retiring directors, Messrs. Barstow, Hill, and Brierly were re-elected, no other nominations having been received. Mr. J. Waymouth, public acoountant,. and Mr. P. Clark were re-appointed auditors. An increased honorarium was voted to* the directors, and votes of thanks were also passed. . ■ .