SOUTHERN STARR-BOWKETT SOCIETY.

Otago Daily Times, Issue 14684, 18 November 1909, Page 5

SOUTHERN STARR-BOWKETT SOCIETY.

The thirteenth annual meeting of the above society was held in the Trades Hall iMt cwnihs Mr S. S. Myers (chairman of directors) presided, and there was a largo attendance of members.

On moving the adoption of tho annual report (already published) and balance sheet tho _ Chairman said that it must bo as gratifying to members to receive as to tho directors to bo ablo to place before them such a satisfactory report and balance sheet,. Though the primary objeet of tho society was n>ot to show large profits, still, if tho object for which tho society started was fulfilled and yet gained a largo credit balance, it was a position upon which tho shareholders could bo congratulated. That the socicty was still fulfilling its mission b ? lhe faci that a °y ha <l lent i>105,000, which had becin divided among members, and used in nearly every case in providing a house and home of their own. In No. 1 Group there wore 557 shares unappropriated, 558 with Joans, 3H loans repaid, and 18 loans carried to final repayment. Another £1000 will bo font, from this group that evening. The No. 2 Group is going ahead very fast, and stands out as 0110 of the beet in tho Dominion. The profit in No. 1' Group for 13 years was £9197, and in No. 2 Group for three years it was £29E6. He specially callcd attention to the fact that in both groups tho profits exceod tho premiums. He might state' that a gentleman gave notice o< withdrawal, but after studying tho balance shoot he requested to be reinstated. There were still about 300 shaves of tho 2000 in tho No. 2 Group, and he would ask them to impress upon their friends the good the society does. Of course, the more members the quicker come the appropriations.

Mr Ilobcrt Knowlss seconded the motion, which was carried unanimously. Tho retiring directors . (Messrs J. M'lndoe, C. Macandrow,' and C. Speight) wero re-elected. It was decided tliat in No. 1 Group the directors' remuneration be the same as formerly, and in No. 2 Group tho remuneration be ihe same as in No. 1,

Messrs T. K. Haity and W. T. Monknun were re-eleofced auditors. It was deoided to make it a recommendation to the directors to consider the advisability ot raising tho auditors' remuneration.

On the motion of Mr T. K. Harty it was decided—" That it bs a recommendation to tho incoming directors to consider the adequate remuneration of the secretary m connection with No. 2 Group." On the motion of Mr Swindle; it was decided to make it a recommendation to the directors to take into consideration the question of disposing of the remainivg shares in No. 2 Group.

Appropriations were disposed of as follows:—Group No. I—l94th1 —194 th appropriation of £500 by ballot drawn by cluster IVO. 99, held by two shareholders. The 135 th. appropriation of £500 by sale realised a premium of £10 psr cent. No. 2 Group—Tho 27th appropriation of £500 by ballot was drawn by cluster No. 16, held by one shareholder. Tho 28th appropriation ol £500 by sale realised a premium of £51 per c-cnt.

At a spccial meeting of the society alterations and amendments to rules as recominended by the directors were adopted.