THE PERMANENT BUILDING SOCIETY.

Colonist, Volume LVIII, Issue 14529, 5 October 1917, Page 7

THE PERMANENT BUILDING SOCIETY.

A SUCCESSFUL HALF-YEAIt

A special meeting of the directors of the Permanent Building Society was hold last night for the purpose of leceiving accounts for the half-year' ended September 30th. The statement presented by the secretary showed >\ net amount" of profit of £1685 7s lOd. It -was resolved to declare profit for addition to share values at the rate of 5 per cent, per annum, following the custom of a lone; period. This absorbs £13-40 10s lid, leaving a balance of £344 16s lid.

It was resolved to add £300 to the j reserve fund, bringing it up to £2S(X>. i and carry £44 "16s lid forward to ereI dit of profit and loss account. There are 9083 shares held in the society, and loans current amount, to £114,945 the highest amount on record. The total of deposits with the society is £4885 less than at the end of tho previous half-year. The man- ! agement fund showed a very slight inJ crease of '-expenditure compared with j the previous half-year.

Gratification was expressed at the very satisfactory results disclosed and tho continued steady progress made by the society.

The secretary was instructed to pay out maturing shares (U.P. series absorbing £1500) and give releases where necessary.