BUILDING SOCIETY
TE AROHA OPERATIONS [FROM OUK OWN CORRESPONDENT] TE AROHA. Friday Tho annual meeting of shareholders in (lie To A roll ii Terminating Building Society took place last evening, ilie cliairmnn of directors, Mr. A. it. Margison, presiding over a large attendance. Tho annual report stated that notwithstanding the general depression, profits and | receipts from subscriptions had been well above the average. During the year there had been five appropriations of J-500 and one of £IOOO. No. 11. group had not been so successful and many of the shareholders had abandoned their shares owing to it boing launched (lining the slump period. With a recommendation from the present meeting the group would be wound up. The report and balance-sheet wero adopted. The retiring directors, Messrs. A. 11. Margison, H. Peterson and J. Hoatheote, were re-elected. At a special meeting of the society a motion that the rules be altered, permitting any shareholder to withdraw after ■ paying in for 10 years and to receive tho F full amount of the subscriptions paid in, . plus the reversionary value of tho profits, was dofeated.
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Bibliographic details
New Zealand Herald, Volume LXIX, Issue 21254, 6 August 1932, Page 12
Word Count
182BUILDING SOCIETY New Zealand Herald, Volume LXIX, Issue 21254, 6 August 1932, Page 12
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