_The Incorporated Building Society_ comprises the United, the Queen's,
the Freeholders', and the Second Freeholders' Societies, the earliest of
them established in 1849, the incorporation taking place in 1878. The
aggregate receipts of these several Societies would reach nearly 3-1/2
millions. The amounts paid in since the amalgamation (to the end of
1882) being L1,049,667. As might be expected the present Society has a
large constituency, numbering 6,220 members, 693 of whom joined in 1882.
The advances during the year reached L78,275, to 150 borrowers, being an
average of L500 to each. The amount due from borrowers was L482,000, an
average of L540 each. The amount due to investors was LL449,000, an
average of L84 each. The borrowers repaid last year L104,000, and as
there was L482,000 now due on mortgage accounts the whole capital of the
society would be turned over in five years, instead of thirteen and a
half, the period for which the money was lent. The withdrawals had been
L85,409, which was considerably under the average, as the society had
paid away since the amalgamation L520,000, or L104,000 per annum. The
amount of interest credited to investors was L19,779.
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