BUILDING- SOCIETY.

Timaru Herald, Volume XLI, Issue 3258, 6 March 1885, Page 3

BUILDING- SOCIETY.

The fifteenth annual . general meeting of the Timaru Permanent Mutua.l Benefit Building and Investment Society was held m the Oddfellows' Hall, Sophia street, last evening, Captain J. H. Butter m tho chair. There were about forty shareholders present. . The Chairman of Directors (Captain J. H. Sutter) presented the Directors' annual report as follows : — , " The Directors have again much pleasure m meeting tho shareholders with the fifteenth annual report and balance-sheet, duly audited. " The profits realised for the year amount to £2446 13s Id, out of which provision has. been made for all interest due, and expenses of management,, and there remains for division among shareholders a sum. of £702 17s Id. Notwithstanding the sum of £5000 having been remitted to London m payment of debentures due m October lost, the funds of the Society have not been fully employed, and m consequence the Directors were compelled to suspend the issue of Class ' A ' capital shares until further notice. "In accordance with the rules, Messrs J. H. Sutter, Andrew Hart, A. J. H. Bower and John Jackson are the retiring Directors, but ihey are all eligible for re-election, and have given the necessary notice required by the rules. The shareholders have also to elect an auditor m the place of Mr 0. S. Fraser, who is, however, eligible for re-election." The Chairman then read the balance-sheet, the principal figures of which ore given m the report. The Secretary also read the Auditors' report. • . The report and balance-sheet were unanimously adopted. Messrs J. H. Sutter, Andrew Hart, A. J. H. Wower and John Jackson, the retiring Directors, being the only shareholders nominated, were declared re-elected. Mr F. W. Cook was elected shareholders' Auditor for the ensuing year. Votes of thanks were passed to tho Directors, the Secretary, the Auditor, and the Chairman, and the meetiug terminated.