PERMANENT BUILDING SOCIETY.

Colonist, Volume LXI, Issue 15039, 5 April 1919, Page 6

PERMANENT BUILDING SOCIETY.

HALF-YEAR.

A special; meeting of She directors of the NelsonJPermanent Building Society was held last evening for the purpose cf receiving statements of accounts for ttie half-year's operations ending March "3let" ' ' - • , a- i / The accounts presented disclosed n ' very .successful half-year's business. There remained as profit" available for distribution to- shareholders, after providing for interest due to depositors, the sum of £1829 3s od . It was decided to declare profit at the rate of 5 per cent, per annum, absorb- ' ing £1565 IBs 3d; to add £250 to the reserve fund, bringing this up to £3650.; and to carry forward the balance of £13 sti 2d to -credit of profit and loss account. The loan account was shown to standat £121,931, the highest amount on record. | The secretary was instructed to pay out the maturing series of shares CS,' and prepare releases where necessary. The maturing shares have a value of £20 7s each, and about £3000 will be rci quired to pay out the series.