NEW PLYMOUTH INVESTMENT AND LOAN SOCIETY.

Taranaki Herald, Volume XL, Issue 9086, 19 May 1891, Page 2

NEW PLYMOUTH INVESTMENT AND LOAN SOCIETY.

The fifteenth annual meeting of the shareholders of the Now Plymouth Investment and Loan Society (Permanent) was held in the Society's office on Monday evening, when Mr H. Weston was in the chair. The following report, which had been in the shareholders' hands for some days, was laid on tho table. repoiit : The accounts now submitted show that the Society has been fairly prosperous during the past year. Notwithstanding the great reductions made in tho Borrowers' Re-payment Scale, there is very little diminution of Profit, the gross sum earned being £1210 12s Id, as against £1238 5s 6d last year. This result is owing to the increased amount of business done. After payment of interest and all charges there remains a small balance of £18 8d 9d to carry to next year's account. No losses have occurred during the year, andthe Directors, after careful scrutiny, do not apprehend any on the securities now held. The retiring Directors are Messrs H. Weston and J. B. Connott, who offer themselves for re-election. The meeting will also have to appoint two Auditors. ,11. Weston, Chairman. Tho Chairman, after a few remarks on the steady progress of the Society, moved the adoption of tho report which was,, seconded by Mr Seffeen, and carried. Mr J. C. George moved, "That Mr H. 1 Weston and Mr J. B. Connettbc re-elected directors." This was seconded by Mr I F. L. Wedsteu, and carried. Mr J. B. Connett moved, "That Messrs J. S: McKellar and F. L. Webster be the i auditors for the ensuing year at tho remuneration of £12." This was seconded by Mr C. T. Bundle, and carried. Mr -Seffebn proposed, "A vote _ of | thanks to the director for their attention to the affairs of the Society, and that they receive an honorarium of £60." Mr Hughes seconded the resolution, which was carried unanimous!}'. A vote of thanks to the Chairman terminated the business.