THIRD NEW ZEALAND BUILDING AND M.I. SOCIETY.

Otago Daily Times, Issue 4436, 8 May 1876, Page 6

THIRD NEW ZEALAND BUILDING AND M.I. SOCIETY.

The sixth annual meeting of the Third New Zealand Building and Mutual Investment Society took place in tne Athenaeum Hall on the 21st. Mr G-. P. Farquhar (President) occupied the chair, and about 20 shareholders were present. The following is the committee's keport : — Your Committee have pleasure in submitting the sixth annual balance sheet and report of the Society's affairs, and they trust that the lesults will prove Batisfaetory. The number of shares upon which advances have been made during the year is 25, and 172 investing shares have been paid out. The share registry therefore exhibits the following changes for the year :— Numbers existing March, 1875— ■ Borrowed .. H7J- .. .. Investing .. 897 i Add shares borrowed 'J5 .. Deduct 25 miDeduct advances repaid 20 .. Withdrawals 147 MMMM 172 162 i 225J Present total .. .. 378 During the year it was found necessary to sell one of the securities, but the sum realised did not cover the amount at the debit of the account, and after consideration, the Committee deemed it advisable to provids for the deficiency of £320 7s 5d out of the profits, as it is doubtful how the matter will reault. It is proper to say, however, that the deficiency does not arise through any over advance made by the Committee. The balance of Profit and Loss is now £3519103 11 d which, divided among&t 378 shares, gives £9 6s 2d per share. A copy of the balance sheet and statement are appended. Attheendof the last half-year the Committee appointed Sir W. Brown socretary, and since then the details of tho Society's affairs have been under l.is care.

The followin? members of the Committee retire :— Messrs W. D. Smith, Howie, Farquhar, Mills, and Spiers, and of these only the last three are eligible for re-election.

GRANT P. FARQUHAR, President.

TUB BALAKCE SHEET.

The following is the balance sheet for the year end ing 31st March, 1870 :—Cash Account: To subscriptions and redemptions, £2405 ICs 6d; transfer fees10a ; fines, £10 9s ; interest, £16i 12s lod ; loans re, paid—Share loans, £1228 Cs 3d ; loans of surplus f unds£sso ; debentures, £1480 ; Bank of Australasia, £0075 11s 3d; total, £11,973 5s 10J. By shares paid out, £3054 Us lid ; loans—on 25 shares, £500; of surplus funds, £050; debentures, £1115; interest, £57 14s lid; printing and advertising, £0 9s; expenses of management, £65 153; sundries, £20 0s 3d ; Bank of Australasia, £54:^4 6a 3d; cash in hand, £3 8s 6d; total, £11,973 5s lOd. Profit and Loss Account.—To profit on shares withdrawn, £S2l 7s lOd; expenses of management and advertising, £124 2-s; rent, £10; interest—Bank account, £23 4s 8d; debentures, £51 19s Gd; doubtful debts, £320 7s sa; balance, £3519 10s Ud; total, £4370 7s 4d ; by balance, March, 1875, £3589 15s lOd; redemption fees, £312 10s; fines and transfers, £104 14s ed ; interest on investments, £363 7s; total, £4870 7s 4d.

■ Liabilities. -Investing shires, 2255 at £18, £4059; subscriptions in advance, £4 Is—£4oß3 Is ; le-s subECiiptions in an ear, £27 0s 3d— £4033 0a 9d ; debenture.--, £493 14-i; suspense account, bunk interest, &c, £24 14s 31; outtaiiding accounts and salaries, £51 18-!; Bank of Australasia, £337 10s 2 I ; doubtful debts, £320 7^ 5d ; balance of iTufit and loss account, £35.9 10. lid ; total, £87-8 15s (id. Asitts —Uoi row injf shares, 15-2.V. ut£l2. £f 045; arrears oi redemption, £273 14s lOd—£UO7B Hi i€'d ; less redemption* in advance, £4 5s 3d—£0674 9s 7d ; surplus funds, £2110 17a 5d ; cash in hand, £3 8s Gd ; total, £3783 15s Cd. We, tho auditors, hereby certify that we have examined the hbovo statements of accounts with the books of the Sociotv, the Bank p -ss book, and the vouchers, and find the same to be correct, Jambs Winter, ) Auditors Dunerlin, 7th April. 1870. William Brown, secretary. O.n the motion of the Chairman, tha report and balance sheet were carried nan. con. KLECTIOX Of OriTC'JKrf. The Chairman havincr n-aj^ned, Mr P. I'irie, ficii., was unanimously (.'lecteii I'n-sident. Thu following geiitloiucn wore a]ipuiiited the Committee of Management for the eusuiuy year :—Messrs J. Mills, J. Farru, H. Brundell, and lh' IJocken. COMrLIMENTAIiy. Mr J. D.vvu--. fonipiiiiieiited tho Diroftors iipoii their suw^gful Uiauagenit-ntj anil ylsothe

Secretary for his exertions during rthe six inonthalie had been in office. He (MrJ)avie) moved a vote of thanks to the office bearers. The motion was carried unanimously. The Skcketary briefly returned thanks for the compliment. Some discussion took place regarding the future prospects of the Society, and the meeting adjourned.