LAND AND BUILDING SOCIETIES.

Taranaki Herald, Volume LIV, Issue 13797, 31 October 1908, Page 4

LAND AND BUILDING SOCIETIES.

ANNUAL MEETINGSTHE EQUITABLE SOCIETY. The seventh annual meeting of tho Society was held at the Town Haj, New Plymouth, last night. Mi Dockrilf (chairman of directors) presided. There were > also P^* *J«s W N Ewing, D. Berry, F. P. Corkil , S W Shaw, J- W. Wilson (directors), F E. Wilson (solicitor), and H. Stocky (secretary), besides a large number ot ch |h e e °amiual report of the director, indicated the continued P^F^ ftl f" d prosperity of tho Society, both Groups, after allowing for all working expense^ showing a substantial p.roiit. During the year twelve appropriations of JbldU had been disposed of m the *irst Group, and loans had been advanced to tte amount, of £2,320 1& ©k. Twelve appropriations of £150 had been disposed of in the. Second Group and loans had been advanoed. to Mm amount of £1,864; showing an ufrea^ of loans of £894 iii the First and £038 in the Second Group during the past year. This increase was certain to bo continued in the future from the larger amount of redemptions that wouKl be paid consequent on the increase or appropriations, hence very much enhancing the usefulness of the Society to its members. The profits of tho First Group during the past year amounted to £95 2s Od, making a total of £690 13s 2d, equal to 28s 6d per share, and on the Second Group £4S 15s 2d, making a total of £233 14s 90. equal to 8s 2d per share. The subscrlb--e"d capital at August 31 amounted to £13.614^ and the total amount of loans. at 4e same date, £17,141. The Directors had pleasure in stating' that tho securities held by the Society continued to give every satisfaction, ana this *as. largely due "to the ability of and car© taken by the valuation comiiiittee. The ! appropriations by sale had all been tendered for iii excess of the upset prices, showing that shareholders 'were appreciating the very much .easier terms on which loans could be obtained from tho Society than in any other way. Shareholders would be callecl upon to elect three members of tho Board; the rntiring directors being Messrs D. Berry. W. N. Ewing, «?nd J.-tW. "Wilson— all of whom are eligible and offer themselves for re-election. ,s The directors had expressed their deep nfegret at the death of the Society's^ auditor, Mr.T. O; Kelsey, who had filled the position with ability since its hicop*uMU.. On the motion of the chairman seconded by Mr F. W. Fagan, >he, report and balance-sheet were approved. The three retiring directors and Mr P. Hopkins were nominated for election on the directorate. The ballot resulted in Messrs D. Berry,, W, N. Ewing, and P. Hopkins being elected. Mr. C. T. Mills- was re-elected auditor. It was re&olved that-the.-remunera-tion of the direptors for tjae ensuing year should be £25 in each 1 group. Tho directors were recommended .to increase the levy for Working expenses to 4s per share per A vote of thanks was; passed to Mr. J. W. Wilson (retiring <djrector) f . . Two appropriations or' £lso in each group were sequently balloted for. In the first group Mr. F.jP; porkdl (No. 15) was successful, and? in the second 1 grotip-fe* A T ."L. Fishe*o(No;'i43Vw»>B successful, each entitled to £300.