BUILDING SOCIETY

Wairarapa Age, Volume XXXVIII, Issue 11752, 7 February 1918, Page 5

BUILDING SOCIETY

THE WORKMEN'S FRIEND. The annual meeting of the Workmen's Friend .Building Socicety was held in tho secretary's office, Masterton, last evening, when there was a large attendance. Mr T. Jenkins, chairman of directors, presided. On the motion of Mr A. B. .Wood the report and balance-sheet, which had been printed and circulated, was taken as read. In moving their adoption, the ch.tynnan congratulated the .members on the progress made during the last twelve months. There had been a. steady increase m revenue and profits, and sound biuiress had boon done. He reminded shareholders of the opportunity afforded them by the sale of appropriations, of securing cheap money for investment on good interest-bearing security for their own use. Mi* T. B. Braggins seconded the motion. Mr W. H. Jackson, in supporting the motion, said that the report spoke for itself. They had done business on sate and sound lines, and in spite of the strenuous times a fair amount of profit had been earned. As time went on appropriations were mcroasing, and when members realised more fully the advantages offered by tho appropriations by sale there would be inCreased competition. The chairman, directors, and secretary had carried on tho business with careful and good management. Thi motion was carried unanimously. The three retiring directors, Messrs B. Chapman, W. H. Jackson, and H. J. O'Leary, were reelected.

Mr G. L. Thomas was re-elected shareholders' auditors, on the motion of Mr T. Moor, seconded by Mr A. B. Wood. Messrs A. P. Smith and A. B. Wood 'were appointed scrutineers and Mr E. Selby to draw the marbles for the appropriation," which resulted in Mr H. J. Nightingale being declared the winner of £3OO free of interest. The chairman announced that an appropriation 'by sale would bo fixed at the next directors' meeting. On the motion of Mr T. Moor, seconded by Mr A. P. Smith, a. hearty vote of thanks was passed to tho directors and the secretary, and was suitably acknowledged by the chairman. A vote of thanks to the auditors concluded the meeting. MEETING OF DIRECTORS. A meeting of directors was subsequently held, there being present Messrs T. Jenkins (chairman), T. B. Braggins, B. Chapman, H. J. O'Learv, A. E Elkins, A. E. Winzanburg and W. H. Jackson. The finance report was adopted. Mr T. Jenkins declined nomination as chairman, preferring to see the office go round. Mr T. B. Braggins was elected chairman for the ensuing year, and Mr B!. Chapman vice-chairman. Messrs Bragins, Elkins and E. E. Jones were appointed a valuation committee. The retiring chairman thanked the directors and the secretary for their past support, and solicited the same for his successor.