SIX PER CENT DIVIDEND

Waipawa Mail, Volume LXVII, Issue 102, 12 May 1939, Page 2

SIX PER CENT DIVIDEND

TO SHAREHOLDERS OF THE BUILDING SOCIETY.

At the annual meeting of shareholders of the Waipawa Building Society to be held this evening the following report will be presented:— In presenting the accounts for the fifty-fourth year of the society’s operations your committee congratulates shareholders on the society’s continued advancement. Applications for advances amounting to £26,165 were considered, of which £21,075 were approved, the total amount of advances remaining at the end of the year being £50,295 12s sd. The profit distribution proposed is at the rate of 6 per cent, and after allocating £450 to the reserve fund, writing down property of £25, there remains the sum of £25 5s 6d, to be carried forward. The society’s capital shares are a very popular form of investment, of which a further sum of £3530 was issued during the year. The society’s reserve fund now amounts to £1650. Your committee is desirous of continuing the building up of these reserves to the amount provided for in the rules.

Messrs W. H. Rathbone, F. M. Tickner and J. R. Corskie are the retiring members of the committee, all of whom are eligible and offer themselves for re-election. Three members of the committee require to be elected.

The retiring auditor, Mr F. Ho] offers himself for re-appointment.