STARR-BOWKETT SOCIETY

Otago Daily Times, Issue 18673, 30 September 1922, Page 17

STARR-BOWKETT SOCIETY

annual report. The annual meeting of the United StarrBowkett Building Society will be held on October 19, when the directors will present a report stating that the society is still making very satisfactory progress. The total loans granted in each group to balance date are:—No. 1 group, which was wound up on May 1 last. £105,555 4s lOd; No. 2 group, £45,804 10s; No. 3 group, £45,660; No. 4 group. £25,310; No. 5 group, £13,416; New No. 6 group, £3600, making a grand total of £239,345 14s lOd. Tho loans during the year amounted to £17,811 10s. In accordance with resolutions passed by members, tho No. 1 group was wound up on May 1 last, this group having, after providing loans to every member of it, paid the handsome dividend of £ls per share, and we are pleased to report that a largo number of the members have written letters of appreciation of the work done; During the year 33 ballots and sales were held. Thcs> were distributed throughout the groups as follows: Four ballots and four sales in No. 2 group; three ballots and three sales in No. 3 group; three ballots and two sales in No. 4 group; and 1 four ballots and four sales in No. 5 group; while the new No. 6 group has had three ballots and three sales. Tho number of shareholders in the five groups is as folJows: —No. 2 group, 101; No. 3. 250: No. 4 . 376; No. 5, 419: new No. 6, 428; in all, 1574. Messrs F. W. Mitchell and J. Armstrong retire from the hoard of directors bv rotation. The auditors, Messrs George Blvth and Co. and R. Hanning, also retire. All, however, are eligible, and offer themselves for re-election. Messrs William Nicolson and H. H. S. White have also been nominated for the position ot directors. Your directors, in conclusion, express their appreciation ot the interest taken/ in the society by its members and friends; and trust that there will be no diminution in the assistance and support so essential to, the success of a society formed and worked on purely co-operative principles, which principles are becoming more and more recognised as the true method of , self help.