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LEDBURY BUILDING SOCIETY. — t — Annual Meeting. The annual meeting of the Ledbury Free- hold Building Society was held on Monday at the Barrett-Browning Institute, when there was a rather meagre attendance of shareholders, which included: Messrs H Morgan (who was in tue chair in the unavoid- able absence through illness of Mr W H Hatton), C Pedlingham, J Shinn, C H Bixley, H J Pritchard, lion." sec. (all directors), and T Bray and J J Gardiner (shareholders). The Chairman in a few appropriate remarks explained the objects of the meeting and briefly traced the progress of the Society since its inception, pointing out the immense amount of good it had been to the town of Led bury. Be said that the report and balance-sheet, a copy of which everyone present had in his hands, spoke for itself. THE ANNUAL REPORT. The adoption of the report and balance- sheet was moved by Air T Bray, as follows:— In presenting the twenty-ninth annual report the Directors feel that it is one of considerable importance, inasmuch as the Society's operatione are gradually drawing to a close. The con- ditions under which Ledbury existed when the Society was formed were far different from what they are at the present time then there was no Urban Council, and the town was practically under parochial control. The Urban council was formed some 18 years ago, and since that time their powers and duties have greatly increased, and the trend of legislation has been to increase the powers and responsibilities of local authorities and the granting of facilities for the erection of urban districts, consequently the need of such a society as ours is not so great as it was 30 years ago, and the Directors feel the time has ai-ived for bringing operations to a close. It is with no little pride and pleasure the Directors take in a retrospective view of the Society's work. Nothing has been promoted for many years in this town which has had greater or more beneficial results or fraught with greater material benefit than our Society. In our last report we called attention to the Society' operations, the number of estates which had been purchased, the number of houses erected and the large amount of money which had been spent in labour and material, from which was apparent the good which had resulted. The estates have been taken over by the Urban Council, three without any difficulty, but the fourth (Bank Crescent), will involve a consider- able monetary payment in consequence of the weak condition of the road. The Directors have a sufficient sum standing to their credit to enable them to pay to the Urban Council the sum required, £160, and they deem it, with the sanctiou of the annual meeting, the wisest course to meet the demands of the Council. The Directors will be unable to close the Society's affairs for some little time as certain sums of money are due from two or three allottees, but no difficulty is anticipated, and before the end of the current year it is hoped the whole of the Society's affairs will be finally settled. The Directors cannot close their report without referring to the death of their former colleague, Mr J Garrood, who took an active part in the formation of the Society, and was a staunch and loyal supporter till he left the tow". The profits of the past year will enable a bonus of 5 per cent to be paid to the unallotted shareholders. The retiring Directors, who are eligible for re-election, are Messrs H Morgan, C H Bixley and W H Hatton. H. MORGAN: (Chairman). H. J. PRITCKAKD (Secretary). The balance-sbept was also read, and bad been audited by Mr T Wheeler Meats, of Hereford, and Mr E J Hall, of Ledbury, and found correct. Mr J J Gardiner seconded the adoption of the report, which was carried. The Chairman proposed that a sum of L160 be paid to the Urban Council to take over Bank Crescent-road. Mr C H Bixley seconded, and it was carried. With regard to the usual bonus, Mr Bray said he had pleasure in proposing that a bonus of 5 per ceut. be paid to the un- allotted shareholders. This was seconded by Mr Gardiner, and unanimously agreed to. ELECTION OF OFFICERS. Mr C Pedlingham moved that Mr E J Hall be again appointed shareholder's auditor, and upon this being seconded by Mr Sbinn, the proposition was carried unanimously. Mr T Bray propo3ed that Messrs. H Morgan, C H Bixley and W H Hatton be re-elected directors. Mr Gardiner seconded.—Carried unani- mously. In proposing that a very hearty vote of thanks should be accorded Mr Morgan for presiding, Mr Bixley referred in eulogistic terms to the work accomplished on behalf of the Society by Mr Morgan for so many yeais, and expressed the hope—which he was sure was shared by all the members— that Mr Morgan would soon regain his former good health. (Applause). Mr Bray said he would like to second the motion and to fully and heartily endorse all Mr Bixley had said of the great amount of interest Mr Morgan had shown in the Society. It was to be deeply regretted that there were not some younger men coming forward to take the place of those who had retired, after seeing the substantial results of their labours. The motion was carried with acclamation. The Chairman briefly returned thanks, and expressed his regret that his health did not permit him to work so energetically tor the Society as he had in the past. A

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