BUILDING SOCIETY PROFITS.
Sir.—l beg to draw attention to what 1 consider an unfair imposition to holders of building society shares, namely, working expenses. After each annual audit both Auckland societies issue balancesheets and show handsome profits in each - group, which they are careful to point out belong to the shareholders. Office expenses, directors' and auditors' fees aro debited to each group, leaving the profits referred to. In spite of this apparent ' prosperity, however, working expenses amounting to usually to Is Gd per share are.levied each year. I consider it unfair . that this amount should have to be paid when such profits aro shown and when apparently each group has been debited with all expenses. Perhaps the building societies would explain the necessity for the levy. Shareholder.
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https://paperspast.natlib.govt.nz/newspapers/NZH19281012.2.146.10
Bibliographic details
New Zealand Herald, Volume LXV, Issue 20075, 12 October 1928, Page 16
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127BUILDING SOCIETY PROFITS. New Zealand Herald, Volume LXV, Issue 20075, 12 October 1928, Page 16
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