THE PERMANENT BUILDING SOCIETY.

Colonist, Volume LI, Issue 12405, 21 November 1908, Page 5 (Supplement)

THE PERMANENT BUILDING SOCIETY.

A SUCCESSFUL HALF YEARS' BUSINESS. A special meeting of the' Board of Directors of the Permanent Building Society was held list evening, for the purpose of receiving accounts and declaring the prdn't for the half year ended 30th September. The statement submitted by the Secretary and duly audited showed that the amount of profit earned during the half year and available for distribution was £1279 lls 6d, less £116 4s 8d due to depositors. The amount requried to add profit, at tho iute of five per cent per annum on shares was £MS 4s lOd, which left a balance of £225 -5s to carry forward. The. result of the half year's working was considered very satisfactory," nnd it was decided to declare a profit ad-dition-to shares at tho rate of five per cent per annum ; bo write £25 oil office furniture account: and to carry the balance of £200 forward. This is the third year in succession . J;naf the .Societyjias been, able to add profit to shares at a rate equal to that charged borrowers. The Secretary was instructed to pay out maturing Shares, BX, which have a value of £20 3s Sd ; and also to have releases prepared where necessary. There ara GIGS shares held in the Society, which had advanced roughly £60.000 '0n mortgage.