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The Cyclopedia of New Zealand [Canterbury Provincial District]

Permanent Investment And Loan Association Of Canterbury

Permanent Investment And Loan Association Of Canterbury. Directors:—Hon. J. T. Peacock, Hon. E. C. J. Stevens, Messrs F. de C. Malet, F. D. S. Neave, H. H. Pitman, and J. J. Thomson; Mr Walter J. Moore, manager. This association was established in 1871 under the Building Societies Act. Its permanent capital now amounts to £100,000 fully paid up. It has earned good dividends throughout. In 1891 the accumulated profits amounting to over £17,000, were devoted to the reinstatement of capital account. The reserve fund now stands at £3,300, and the last dividend was at the rate of five per cent. per annum. The association accepts money on deposit.