REAL ESTATE INSTITUTE

Timaru Herald, Volume CXXXVII, Issue 19626, 21 October 1933, Page 6

REAL ESTATE INSTITUTE

SOUTH CANTERBURY BRANCH ANNUAL MEETING 'l'fie annual meeting of the South Canterbury branch of the Real Estate of New Zealand (Inc.) was held on Thursday, Mr G. D. Virtue presiding. Annual Report. The annual report stated that it was decided to continue for this year, the discount allowed for prompt payment of subscriptions. Again this year, most of the members took advantage of the concession. The capitation fees payable to the central office of the Institute continued to be a considerable burden on our income. However, in spite of difficulties, the branch had, by careful mai . ’ement been able to show a small excess of income this year, compared with an expo ess of expenditure last year of £l3 5, 9. During the year, Mr A. N. Oakey was appointed the Institute's representative on the Council of the South Canterbury Chamber of Commerce. Lectures this year were given by Messrs G. A. Bridges and P. B. Foote, nd these addresses were greatly appreciated by the large numbers who attended. The annual conference was held lti Auckland in October last year, and Mr P. B. Foote was the delegate from this branch. Last year, reference was made to the fact that confidence in business activities seemed to be returning, and it was very pleasing to note that this year there was an even more definite move in the direction of normal trading conditions. Prices appeared to be moving towards their old levels, and when a complete recovery took place, it was felt sure that members would ba among the first to benefit. In moving the adoption of ths report and balance sheet, the president said that a gratifying feature was the small credit balance on the year's operations. Last year they had felt the bottom of the depression had been reached. To-day there was a decided improvement in tone, and sales were more frequent than last year. In the last few months it had been difficult to obtain houses for renting, and people were being forced to buy. He thanked the officers for the assistance accorded him during his term of office. "I think we can definitely say that during the coming year our members will experience better business," he added. Mr P. B. Foote seconded the motion, and said the low returns received from Government stocks and others would be a means of making the ordinary mortgages more popular for investment. The South Canterbury branch had practically a unique record in that the membership had been maintained at the same level as last year. Mr Virtue thanked the secretary. Mr H. A. Innes-Jones. the vice-presidents, and the executive for their support. Election of Officers. The following officers were elected: — President, Mr L. S. Abemethy: vicepresidents. Messrs R. J. Runciman and T P. Crowe; executive, Messrs P. B. Foote, A N. Oakey, G. D. Virtue, O. Creemer, J. Moyes, and A. C. Palmer; auditor, Mr A. C. Martin; secretary, Mr H. A. Innes-Jones. A report on valuation fees was briefly discussed, and it was decided to circulate copies of the suggested schedule to members. Mr Foote said there was a definite move to reduce the capitation fee. The Institute conference had bee held over till next year.