GISBORNE CO-OP. BUILDING SOCIETY.

Gisborne Times, Volume XXVII, Issue 2615, 24 September 1909, Page 2

GISBORNE CO-OP. BUILDING SOCIETY.

TENTH ANNUAL MEETING. The tenth annual meeting of the Gisborne Co-operative .Building Booiety was held last night in Town ley’s Hal, Mr. W. Morgan occupied tne chair, and there was a fairly large attendance oi shareholders. The annual report add balance-sheet (already published) were presented, and were taken as read. In moving the adoption’ of the report and balance-sheet, the chairman, congratulated the members on the satisfactory nature, despite the depressed condition of the money market. It was to be regretted that so many shares had been withdrawn, but notwithstanding this the profit on the shares in each issue was fairly satisfactory. Mr. L. T. Symes seconded the motion. He thought the return was an excellent one for the year, taking everything into consideration. The directors were to bo congratulated on the result of the year’s working, in spite of the fact that it was a trying time , , . _ . The chairman stated that since July £3OO had been paid off the arrears. The directors liad first-class'securities, at a fair value, with no boom prices on them. The motion on being pub to the meeting was carried. The three retiring directors, Messrs W. Morgan, H. Miller, and H. JReed, were re-elected, and Messrs L. Redward and C. G. Piesse were again appointed auditors. The chairman outlined the proposals of the directors regarding the keeping of shares alive, and some discussion followed. It was decided that it be a recommendation to the directors to obtain some information from some of the older societies in the Dominion ns to what steps they are taking in the matter. A hearty vote of thanks was passed to the directors and officers of the society. * v

At the close of tlic meeting, appropriations amounting to £ISOO were disposed of. In No. 1 issue p ballot for £SOO resulted as follows: Miss Ivy Nesbitt (£400) and F. Maher (£100). A loan of £SOO in the same issue was offered for sale by tender, and £3OO was disposed of at £23 per £IOO, £IOO at ,£22. mid £IOO at £ls. Tn No. 2 issue a loan of £SOO was ballntted for, and resulted as follows: J Stevenson (£200) and G. Sawyer (C 200).