COMMERCIAL.

New Zealand Herald, Volume LI, Issue 15746, 22 October 1914, Page 3

COMMERCIAL.

UNITED BUILDING SOCIETY.

PAST YEAR'S BUSINESS.

The eighth annual meeting of the United Permanent Building and Investment Society of Auckland was held yesterday at the Chamber of Commerce. The chairmail of directors, Mr. Robt. Neill, presided.

Tito directors' report stated that the number of A shares in force was 11,609, being an increase of 285 for the year. The number of B shares in force was 53, of which 48 were fullv paid up. The balance at credit of profit a.nd loss account, including £499 4s lOd brought forward from last year, was £1484 8s 2d less dividends oaid in October, 1913, 5337 2-i sd; and less dividends paid in April, 1914, £335 0s 4d; and the sum transferred to reserve fund, £150. There was a total of £662 5s 5d available. This amount the directors proposed to distribute as follows —Dividend at the rate of 6 per cent, per annum on A shares paid up (£11,406 12s), £342 4s; dividend at 6 per cent, per annum added to 5 B subscription shares paid up to £114 15a lid, £3 Qs lid : write off stationery account, £24 14s Sd ; write off office furninoc' £19 12s ' reserve fund (making £700), £250; balance carried forward, £22 5s 9<l. Total, £662 5s sd. The dividend would bo payable on October 31 next. In moving the adoption of the report and balance-sheet, the chairman said the society had had a very trying year, first because of the strike, and latterly owing to the war. In consequence they had been compelled to cut down their advancements. The directors were disappointed that they had not been able to increase the company's capital, but the tightness of the money market had made it impossible for them to do so and thus increase the society's operations. Nevertheless, the balance-sheet was satisfactory, the net profit showing an increase over that of last year. The report and balance-sheet were adopted. The retiring directors, Messrs. N. A. Nathan and R. Burns, were reelected, as were the auditors, Messrs. W. J. A. Thomson and H. C. Tewsley. The directors' remuneration for the past year was fixed at £75 each, and a bonus of £25 was voted to the secretary, Mr. L. W. D. Andrews. NEW SOUTH ■ WALES BANKING. INCREASE IN ADVANCES. By Telegraph— Association Copyright. Std.vet, October 21. The chief feature of the New South Wales banking averages for the September quarter is an increase in the advances of over £2,000.000, and a decrease in deposits of £900.000. IMPORTS OF LEAD. BRITISH FIGURES. By Telegraph—Press Association—Copyright. (Received October 21. 10 p.m.) London-, October 20. Imports of lead amounted to 18,60 1 ' tons, and exports to 1573 tons.

D.I. PROFITS.

DIVIDENDS RECOMMENDED.

[BY telegkjCpe.—press

DrxEDiN", Wednesday.

The annual report of the directors of the Dupery and General Importing Company, states that the net profit for the year was £24,250, which, with £11,339 brought forward, gives a total of £35,589 to profit and loss. On May lan interim dividend at tho rate of 6 psr cent, per annum, was paid on preference shares, absorbing £5750. The directors recommend a dividend at the rate of 6 par cent, per annum on preference shares, absorbing £3750, a dividend at tho rate of 7 por cent, on ordinary shares, absorbing £8145, an addition to the reserve fond of £5874 bringing it up to £60,000 and the balance to be carried forward, less a bonus of 2; per cent, to holders of ordinary shares on the amount of their purchases, £14,069. PROPERTY SALES. Messrs. Alfred Buckland and Sons will offer dv auction to- morrow, at 2.30 p.m , at the" Chamber of Commerce, Swanson Street, 26 sections, ranging from. three roods to 5i acres. There are four rond frontages. The sections are three-quar-ters of an hour's drive from Auckland, and three-quarters of a mile from the ilangere Bridge.