WANGANUI LAND, BUILDING AND INVESTMENT SOCIETY.

Wanganui Chronicle, Volume XII, Issue 823, 28 January 1868, Page 2

WANGANUI LAND, BUILDING AND INVESTMENT SOCIETY.

At a general meeting of this society, held on Thursday evening, the second annual statement was submitted to the shareholders. We are gratified to observe that the society continues to prosper. We were unable to find room for a report on Saturday, but now publish the more important paragraphs of the statement :—By the Balance Sheet it will be seen that during the last twelve months there lias been a net profit to the Society of £4OB 13s Id, being £l5B os 7d more than that

shown in the first Balance Sheet, and enablir.g the Directors to declare a Dividend of 8s 9d per share equal to 13 per cent, per annum on the amount paid up. It will be seen by the small amount standing to the credit of the Society in the Bank of New Zealand that the Directors are able to invest all the money at their disposal. One Hundred and Twenty-three shares have been realized during this year as against 113 in the past ; they are however sorry to say that the amount received for premiums has not been in proportion to tlie amount received last year, for whilst the then average was a fraction over £2 Is 9d per share this year it has only reached a fraction over £1 10s lOd. The highest obtained having been £2 12s 6cl the lowest £1 Is Od. Much inconvenience having been felt by Members wishing to realize, owing to the uncertainty as to the amount the Directors might feel themselves warranted in advancing, it has been determined that any member wishing to realize any share or shares on property he may be possessed of or contemplate purchasing may, by giving notice to the Secretary (and paying the necessary survey fee in advance), have the same surveyed before bidding for the amount he may require. Such norice to be of such a length of time as will enable the Directors to consider the report of the Survey Committee at one of their Monthly Meetings before an answer is given to the applicant. Such survey to be in lieu of the Survey usually required on realization, and in the event of no advance being made the Survey fee to be forfeited. The following gentlemen were re-elected Directors :—Messrs T. B. Taylor, E. Broughton, T. W. Gudgeon, W. Kii-k, E. Howe, T. F. M’Donough, and J. Scott.