COMMERCIAL.

Taranaki Daily News, 25 October 1921, Page 2

COMMERCIAL.

LAND, BUILDING AND INVESTMENT SOCIETY. THE ANNUAL REPORT. The fifty-sixth annual report of the Taranaki Land, Building and Investment Society (permanent) states:— “It is with regret we record the death of Mr. W. L. Newman, who for many years held office as a director of this society. T and U series have matured during the year; the period of these series was six years and ten unonths. A dividend of 10 per cent, and a bonus of 5 per cent, have been declared (the borrowing and investing members participating on equal terms) making a total distribution of 15 per cent, for the year. The result of the year’s working should be considered highly satisfactory. We have again to report that members in tbe series matured during the year have paid the sum of £129 16s 8d fo? each £lOO borrowed. The society has paid all costs in connection with the preparation and registration of mortgages of £lOO and over. The net amount available for distribution (including the balance brought forward from last year) is £2705 7s 4d, which has been apportioned as follows: By placing to the credit of all members, borrowing and investing, a dividend of 10 per cent, and a bonus of 5 per cent, (including profits allotted T an< IT series matured during the year) £2oe ’ sd; leaving to be carried forward to ikai; year’s account £696 6s lid. Messrs. x R. Uoek and R. H. George retire tbe directorate, b”t are eligible and themselves for re -rt-ction. Mr. L. A. retires from the directorate under rule 111, btu offers himself for re-election. The auditor. Mr. Hugh Bailey, retires, but offers himself for re-election.’’