THAMES BUILDING AND INVESTMENT SOCIETY.

New Zealand Herald, Volume XXXVI, Issue 11149, 23 August 1899, Page 5

THAMES BUILDING AND INVESTMENT SOCIETY.

[BY telegraph.OWN CORRESPONDENT.] " Thames, Tuesday. The annual meeting of shareholders in the Thames Land, Building, and Investment Society (Permanent) was held this evening, Mr. J. W. Poulgrain presiding. The report presented stated that the volume of business transacted by the society during the year was somewhat less than that of the previous year, although the profits averaged about the same ; The uncertainty of the location of goldfield townships had rendered it necessary that extreme caution should be exercised in making advances, but the committee had made a very careful selection of the securities offered. All the securities held were of a good and sound nature, and consequently the business was safe and profitable. The bal- I ance-sheet showed the profits for the year, 1 exclusive of -the balance brought forward ■ hist year, to have been £1109 18s Bd. The : working expenses, including rent, were £242 ! 5s Id, thus leaving a sum of £867 13s 7d for ! distribution, which it was decided to alio- ! cate as follows:-£753 Is 7il to be placed to 1 the credit of shareholders' accounts, being 1 interest at the rate of per cent.; a bonus of 1J per cent., which will absoib a further sum of £144 16b lOd, thus leaving £21 5s 8T to be carried forward. Both the report and balance-sheet were received and adopted. Messrs. J. \V, Poulgrain and E. Rollcrson were re-elected members of the committee.