Tho eighteenth annual general meeting of tbe Equitable Building and Investment Com pany was held in the Chamber of Commerce last night. There were 24 shareholders pre sent. Mr G. M. Kebboll (chialrman ■ and managing director) presided. In moving tho adoption of the report and balance-sheet (already published), the Chair man said that the duties involved upon him were of a pleasant nature, as ho had to move tho adoption of a report and balance-sheet of what he might call tho record year. (Hear, bear.) In comparing this balance-sheet with that of 1894 they would find that the profits for 1894 wero £SB -9, plus£424 written off, while for 1895 tbe profits were £7516, plus £76 written off, thus leaving a sum of £1329 in favour of this year. Of this sum £7OO was made from purchase and sale of two pro perties (£3OJ was secured from an amount written off for 1894) showingthat they had made ia the ordinary business a sum of £129 over last year, but they must also take into account that they wore receiving something like half per cent, less on thoirpaid up capital of £50,000. At last meeting he pointed out that they had no properties on their books acquired by foreclosure. Ho was glad to say that they had passed through another year without having to open up this account, nor did he know at the present time of any advance that was likely to land the Company in a loss, and they might bo quite sure that the directors would not have placed such a largo sum to reserve bad any provision been re quired for any doubtful accounts. Refer ring to the College street estate, he said that tho first 21 years of this lease expired at the beginning of 1895. The secretary had made a calculation as to its then value with 21 years more to ran. At the present reduced rate of interest, he was happy to say that its value was nearly £IOOO over what it stood in their books. Tho features of the year had been abundance of deposits offering, with scarcity of good securities on which to advance. Notwithstanding this, their mort gages showed an increase for the year of £20,000.
