7d.
The year's receipts were L20,978 16s. 5d., of which L11,479 represented
payments made by members who had been alloted land on the estates
divided by the Society, there being, after payment of all expenses, a
balance of L11,779 12s. 9d. The number of members was then 772, and it
was calculated that the whole of the allotments made would be paid off
in four years.
_The Friendly Benefit Building Society_ was organised in 1859, and up to
Midsummer, 1883, the sums paid in amounted to L340,000. The year's
receipts were L21,834 19s. 6d., of which L10,037 came from borrowers,
whose whole indebtedness would be cleared in about 5-1/2 years. The
members on the books numbered 827, of whom 684 were investors and 143
borrowers. The reserve fund stood at L5,704 5s. 9d There is a branch of
this Society connected with Severn Street Schools, and in a flourishing
condition, 32 members having joined during the year, and L2,800 having
been received as contributions. The total amount paid in since the
commencement of the branch in June, 1876, was L18,181 13s. 11d. The
Severn Street scholars connected with it had secured property during the
past year valued at L2,400.
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