In April last wo rednc - tbe rato of interest by 2 per cent, bat ii has not so far been of any advantag'd* the interests of tbe society Nor bio the applications for loans bean quits n Qiunurniiß as in the preceding year Tb* year coding December 1895 wss tb second highest year since the eomraeso* meDt of the -moiety, with £5575, the bid year beinn 1888 when £5725 w«a «ppM for : in 1896, £3475 ; and in 1897, £3# The transactions of the past year bin, however, proved more profitable thsn « had reason to expect, Bod I have to oo» gratnlate tho investing shareholder* ot obtaining the second higheßt return Id their money, the shares matnriog at D* last being worth £26 7s 31, that is to for every £lB paid in they nave rooei'*l back a bonus of £8 7s 3d in addition. 1 am still enabled to boast that the eonih has made no losses during the last lit", years, and for this result yo« are iodebtsi to the assidco is r ff iris and careful J' ministration of your cfibers and oo» mittee. Mr H. O, Collett seconded the motibk whioh was carried. election or oohmittee The retiring member, of the oomauthh

THE WAIPAWA MAIL, TUESDAY, FEBRUARY 8, 1898



Waipiwn ... For Against Informal 46 10 0 Hacopdou 20 0 0 Waipukurau ... 10 0 0 Onga Oaga ... 19 0 0 Blackburn 14 0 0 Makareta 24 0 0 Ashley Clinton 24 0 0 Takapin 0 0 0 Noreewood ... 83 3 2 M&latn&a 13 1 0 Ormoniville ... 42 0 0 Makotaka 31 0 0 Daoevirke 39 14 0 Maharahara ... 26 0 0 Kumeroa 23 0 0 Woodvillo 48 0 0 462 28 2



RECEIPTS. Dr £ i Bnnk balance beginning of rear 1949 10 l Subscriptions on Investment shares ... 1482 15 Principal repaid on mortgages... Loans on Investment shares re- 3736 4 paid 30 0 Interest received 871 16 Fixed deposits 4494 2 Sale of rules 0 11 Entrance fees 19 1 Fines ' 66 5 Surrey fees Transfer fees ’** 3 2 1 4 £12054 12 1 EXPENDITURE. Cr £ s Loans on mortgage Withdrawal of investment shares 2659 0 with interest and profits ... 