NEW PLYMOUTH INVESTMENT AND LOAN SOCIETY (Permanent.)

Taranaki Herald, Volume XXVII, Issue 3135, 30 May 1879, Page 2

NEW PLYMOUTH INVESTMENT AND LOAN SOCIETY (Permanent.)

THE Third Animal Meeting of this Society was held last evening, when Mr. H. Wcston was iv the chair.

Tiie Secretary (Mr. C Renucll), was culled upon to read the lleport and Balance-sheet, which was as follows :—: —

In presenting the Third. Annual Report and Balance-sheet, your Directors have much pleasure in drawing attention to the satisfactorybtate of the Society. When the present depressed state of the money market is taken into consideration, it must be a subject of congratulation that as yet the Society has not apparently been affected thereby. The Deposit Account has been increased £2,274 12s. (id. from the date of last year's report, making a sum total of £7,776 7s. Gel. Several new shares have also been taken up. Twenty applications for new Loans, amounting in the aggregate 1o £(>,73(>, have been granted, and, although the Society lias now been three years iv operation, no necessity has arisen for a single forced withdrawal or foreclosure. The profit and loss account has been increased from £430 17s. 2d. to £B'JB 2s. 3d., after due allowance has been made for the 10 per cent, to investors, and all liabilities to date. This is most satisfactory, the lie-.erve Fund now forming a valuable asset. The Retiring Directors are Captain Skeet, Messrs. E. Yeale, J. C. Davies, W. Cottier, and J. Davidson, all of whom are eligible for re-election. Two Auditors for the ensuing year will have to be elected at this meeting. H. Y7ESTO2T, Chairman, j Balance-sheet of the New Plymouth Investment and Loan Society (Pet inunentj,/or the year ending 22nd Ajml, 1879. ASSETS AND LIABILITIES.

INCOME AND EXPENDITURE.

PROFIT AND LOSS.

EESERVE FUND.

On the motion of the Chairman, seconded by Mr. J. C. George, the Report and Balancesheet were adopted. The following gentlemen were then elected as Directors : —Captain Skeet, Messsrs. J. C. Davic, W. Cottier, J. Davidson, and W. Morey; and Messrs. J. S. McKellar and B. G. Bnnchope, as Auditors. The meeting voted the sum of £30 as an honorarium to the Directors; and £12 12s. to the Auditors. After a vote of thanks to the various officers connected with the institution, the meeting separated. A Directors meeting Avas held immediately after the above, when Mr. H. West on resigned the chairmanship, and proposed Captain Skeet as his successor, who was duly elected. -

Dr. To balance £ s. 80S 2 j?sns . 9 3 £SOB. 2 8 Or. V>y balance on April 22, 1878 ... Amount from profit and loss, as above £ s. 450 17 U7 r> £898 2 6 cl. 2 1 3

• Cr. By office furniture Loans on mortgage Arrears & s. d. 3G 0 0 ... 13,344 10 4 22 18 9 £13,403 9 1

Dr. To reserve fund . . . Depositors Investors National Bank ... Proiit and Loss ... £ s. 450 17 ... 7.77G 7 ... 4,180 14 548 5 447 5 d. 2 (> 1 3 1 £13,403 9 1

Dr. £ s. d. To balance in National B;mk on April 22, 1878 ... 237 16 11 Deposits received ... 10,095- 2 G Subscriptions received 1,4H 8 4 Repayments ... 2,274 14 4 Interest 1,042 2 4 Management — £ s. d. Bonuses 292 12 10 Commissions ... 73 3 2 Fines ... • ... 23 10 4 Eutrance fees ... 518 0 Kedemption fees ... 113 0 Transfer fees ... 2 5 0 399 2 4 Overdraft National Bank. April 22, 1879 548 5 3 £IG,OOB 12 0 Cr. £ s. d. By deposits repaid... 8,101 10 4 Advances on mortgage 7,325 G 0 Shares withdrawn... 133 18 1 Interest paid ... 277 5 8 Management — £ s. d. Secretary and Treasurer 100 0 0 Directors 30 0 0 Auditors G 0' 0 Printing and advertising 22 18 (5 Law account ... 8 14 G Sundries 2 12 11 170 11 11 £IG,OOB 12 0

Dr. £ s. d. To interest to depositors and investors to April 22, 1579 ... 879 0 3 Msn.agenient 170 11 11 Balance to Keserve Fund ... 447 5 1 £U9G 17 3 Cr. £ s. d. By gross profit, year ending April 22. 1879 1.106 17 3 £1,496 17 3