PROSPERITY AHEAD

Sun (Auckland), Volume III, Issue 676, 30 May 1929, Page 10

PROSPERITY AHEAD

BUILDING SOCIETY’S GOOD PROGRESS CHAIRMAN OPTIMISTIC “I believe the country has turned the corner and has passed the worst of the financial stringency •which has troubled it in the last few years,” said Mr. N. B. Spencer, chairman of the Auckland Cooperative Terminating Building Society, in moving the adoption of the report and balance-sheet at last evening’s annual general meeting of the society. QUTLINING the society’s progress, the chairman said that the year had been a successful one in spite of the anxiety caused by the fall in property values. The prosperity of the society was amply demonstrated by the fact that its assets had increased in value by £15,000. Two new groups, numbers 67 and 68. each of 2,000 shares, had been opened during the year and group 69 was now in process of being opened. He was convinced that better times were at hand since trade was improving and confidence was greater. Several questions regarding the general policy of the society were put to the chairman and the report and bal-ance-sheet were then adopted. Four new directors were elected for the next three years. They are Messrs S. J. Harbutt, F. C. Carr, J. C. Entrican and T. Macky. After the business had been concluded ballots were drawn for appropriations from lots 29 onward.