BUILDING SOCIETY.

Waikato Times, Volume 110, Issue 18392, 28 July 1931, Page 8

BUILDING SOCIETY.

ENDS ITS CAREER. After advancing loans approaching £BO,OOO during the period of its operations, the Masterton Workers’ Mutual Benefit Building Society has been terminated, and the final annual meeting will be held on August 6. The report of the directors to be presented to that meeting along with the final statement of accounts of the society, states that the society was formed at a meeting of persons Interested on July 20, 1898. It Is stated that by prudent management In no case has any security been realised on and no losses have bteten made in granting loans by way of mortgage, which is considered a fine achievement, considering the adverse financial conditions that the society has gone through at different periods in its operations over the past 33 years. During the termination stages of the society, profits amounting to £3019 10s, representing £ls 5s per share have been paid to subscribers. Messrs R. Krahagan and J. C. Ewington, who were elected provisional directors in 1898, have held office during the whole period of the society'* existence.