NORTHAMPTON SOCIETY'S ADVANCE.
Northampton Town and County Benefit Building Society shows very remarkable progress. The total assets have jumped by £586,978 to £6,899,728. Moreover, the balance outstanding on mortgage at £5,112,823 shows an even sharper advance of £957,588, and there have been slight reductions in the society's investments and in its loans to corporations and other authorities. It can therefore claim to be employing a larger total fund in a more profitable way. Moreover, there are no properties where the repayments are upwards of 12 months in arrear. The total amount due to shareholders, including interest, is £5,026,115, against £4,466,961. But there is no increase in the amount of depositors' money, which stands at £1,427,796, against £1,432,308. The working profit for the year was £29,530 compared with £27,639, and the same contributions to reserve are made as a year ago, namely £25,000 to general reserve and £5,000 to mortgage contingent fund. This brings the published reserves to
£425,000.
* * * *
Previous page
