THE ASHBURTON PERMANENT BUILDING AND INTESTMENT SOCIETY.

Ashburton Guardian, Volume V, Issue 1559, 16 May 1887, Page 2

THE ASHBURTON PERMANENT BUILDING AND INTESTMENT SOCIETY.

Td THE EDHO&. Sir, — I see by letter to your esteemed paper of May I4tb, that " Victim " does not consider the Secretary's opinion an unbiassed one with regard to investment shares m the above Society. Now, I hope ray opinion may be considered an unbiassed one ; it is, whether it be considered bo or not, and I intend Bimply to state a fow facts as briefly as possible, In March, 1885; I was induced to identify myself with the Society, and took up 20 shareß. I paid the back payments with 2s 6d per share entrance, and la per share for working expenses, gave an order upon my bank for £5 monthly, and went about my business. Upon my paßs book being made up at the end of the financial year, I found myself credited with £63 10s, havjng paid m £60, and at the end of the second year I find to my credit £132, haying paid m £120. Now, surely that is good enough for anybody ; it fo.for me, without going to the " sixth standard koy " or anybody else. Perhaps "Victim" will remind me of the £2 10s I paid as entrance fees, but to this I would answer tha 1 ; it is charged but once, viz., as entrance, and as the shares mature m about nine years, only a ninth, viz., 6M3d per annum should be deducted, adding, of couise, the Is per share for 1 working expenses. Now, by this rough method of reckoning, the charges upon my 20 shares for two yeais are £2 11s, j which, deducted from £13, the interest to my ctedit, leaves me a net profit of £9 9a, being the net interest upon £120 paid m m 24 monthly instalments of £5. Now, Sir, I take exception to much that is writton m the letter by " Victim," as it seems to me that there is something more than appears on the face of them ; but as i" is my desire only, to vindicate the directors of a valuable institution, I shall confine myself to my own pass book. Should " Victim " reply to this he must allow his name to appear m print, otherwise I shall decline further., correspondence. Yours, etc , Alfred Habrison, Anyone doeiring to see my pass book may do co by calling at my office.