HALIFAX BUILDING SOCIETY.
The latest annual report of the Halifax Building Society, made up to the end of last January, shows that the total assets at the end of the year amounted to no less than £59,394,342, being an increase for the year of £5,239,302. The Reserve Fund, which has increased during the year by £328,359, now stands at £2,017,598. The income for, the year, exclusive of investments realized, was £29,059,352. There was a considerable increase in the number of new borrowers. The gross profit for the year was £2,746,840, and after providing for all interest to depositors and shareholders, there was a surplus profit of £455,339. The sum of £20,000 is granted to the staff superannuation fund and £30,000 is written off office properties account. The directors recom- mend that there shall be distributed, in addition to the interest of 3} per cent., a bonus of 1} per cent. upon the sum standing to the credit of paid-up shareholders, Class 1 ; and, in addition to the interest of 3} per cent., a bonus of 2} per cent. to the subscription investing shareholders upon.the total amount paid by them up to the end of the preceding year.
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