INVESTMENT AND BUILDING SOCIETY.

Taranaki Daily News, 2 June 1916, Page 2

INVESTMENT AND BUILDING SOCIETY.

ANNUAL MEETING. The annual meetin? of the Provident Investment and Building Society of Taranaki (Permanent), was held at the office of the society on Wednesday evening, Mr. G. W. Browne (chairman of directors), presiding. The annual report was as follows: The directors, in submitting the 13tli annual report and balance-sheet, are able to look with satisfaction on the results of the year's working, as the profits show an increase. Owing to conditions prevailing on account of the war, business generally has been somewhat restricted, which has to a small extent reacted on the society's operations. During the year three series (P, R, S), have matured, the shareholders having received payment for their shares; but practically all those retiring have renewed their holdings in the four series opened The directors have pleasure in recommending the members to declare a dividend of eight per cent., and carry the balance to the /reserve account. The chairman, in formally moving the adoption of the report, commented upon the very satisfactory position of the society. The motion was seconded by Mr. T. Avery and carried. Mr. G. W. Browne was re-elected president and Messrs. W. Ambury and E. Griffiths, the retiring directors, were also re-elected Messrs. J. S. S. Medley and D. McAllum were appointed auditors. A vote of thanks was accorded the directors for their services during the past year, and they were voted the usual honorarium.