BUILDING SOCIETY

Waikato Independent, Volume XXXIII, Issue 3044, 26 August 1933, Page 5

BUILDING SOCIETY

TWENTIETH ANNUAL MEETING MR F. THOMASON DRAWS £4OO. The twentieth annual meting of the Cambridge Terminating Building Society was held on Thursday evening, when the chairman, Mr W. Samis, presided over a small attendance of shareholders. The Report. “In common with other building societies, conditions have made the past year a difficult one,” stated the.chairman in his report. “We have not been able to hold as many appropriations as wc had hoped for, but our balance sheet shows funds in hand, which will enable us to hold a sale at the time .of our annual meeting. If less than £4OO is tendered for, we will be in a position to hold a ballot in addition to a sale. All directors’ meetings during the year have been well attended and all matters concerning your society have received careful consideration. “During the year considerable savings have been effected in the cost of administration, further economies have been suggested by your auditors and will be given effect to immediately. “The position of secretary became vacant during the year owing Jo the sudden death of Mr Walter Stopford. Fortunately Mr Stopford’s assistant was fully conversant with the workings of the society, and your directors later appointed her to the position. “In conclusion I wish to express my thanks to the directors for time and attention given to the society during the year. Also to our secretary, Miss Greenhalgh, whose work has boon satisfactory in every respect.” The Balance Sheet. The. balance sheet* disclosed a loss of £4O 12/- for the year, this being due to the fact that intended appropriations were not gone on with owing to the secretary’s death, and a consequent kiss of revenue to the extent of about £BO. The cash statement showed receipts totalling £1046 13/6. In bank and in hand at beginning of year, £SO2 6/S. Assets were set down at £7551 6/5. General. Retiring by rotation Messrs A. Pearce, W. Morse and A. Clothier were re-elected directors. Messrs English and Smith, of Hamilton, were re-elected auditors. Ballot for £4OO. No tenders were received for a sale of £4OO and in consequence a ballot was held. After eight blanks had been drawn, Mr F. Thomason, share No. 291, was the lucky shareholder.