THE PERMANENT BUILDING SOCIETY OF NELSON.

Colonist, Volume LXI, Issue 15067, 9 May 1919, Page 2

THE PERMANENT BUILDING SOCIETY OF NELSON.

In pvesenting the fifty-seventh, annual statement of Accounts, your Directors are pleased to report continued successful business.

Now that the war has been brought to a/ satisfactory termination, the adverse financial conditions that havo prevailed for the past four and a half years will, it is hoped, no longer exist, and future business will be conducted by your Directors with considerably less anxiety than has been the case during the period above mentioned.

The Directors declared a profit for the past year at the rate of ,5 per cent, and added £650 to the Reserve Fund, which now stands at £3650.

THE FIFTY-SEVENTH ANNUAL REPORT OF THE DIRECTORS

• / " . Loans current at 31st March. 1919, amounted to £121:981, the highest amount on record, and the number of Shares at 31st March, 1919, was 9708.

Messrs. Baigqnt, Kerrj Simpson and Stringer retire by effliixion of time, and being the only nominations received, these gentlemen must be declared elected to hold office for. the next three years.

Messrs. Catley and Milner, being the only persons nominated as Auditors for the ensuing year, must also be declared duly elected. .