Advertisements received too late for Classification. SECOND NEW ZEALAND BUD-DING AND MUTUAL INVESTMENT SOCIETY (1864). ON THE TERMINATING PRINCIPLE. MANAGING COMMITTEE. D. Brent, Esq. H. 8. Fish Jim., Esq. S, B. Biss, Esq. G. C. Matheson, Esq. Thos. Dick, Esq. E. E. C. Quick, Esq. J. 0. Eva, Esq. W. H. Reynolds, Esq Henry Wise, Esq. TRUSTEES. D. Brent, Esq., and Thomas Dick, Esq. treasurer. Alexander Willie, Esq. SOEICTTOR. B. C. Haggitt, Esq. BANKERS. The Bank of Australasia. MIOSPECTUS OF SECOND SERIES OF SHARES. The profitable results of the woiking of -his Society up to the present time have inluced the belief that a new Society formed loon the same basis would be a favorite aoth with investors and borrowers. After nature consideration it has been determined, .11 place of establishing a new Society, to jflor to the public a New Series of .Shares in die existing Society. The chief ad%outage lought by that method is ECONOMY IN WORKING Ihe interests of the two Series of Shares will be distinct, but they cannot clash, and by placing them under the management of me Committee, and dividing between them, in proper proportions, the expenses of the Society, a very decided saving will he semred, and the winding up of each Scries of 3h accelerated. The Shares in the Second Senes will he of the same amount and in othei respects similar to those of the First, _ viz. ; L6O Shares, with a Monthly Subscription of ns ; Redemptions, 10s per month ; present Entrance Fee, 2s Cd per Share. The business if the Society is conducted on the terminating principle—that is to say, when the monthly subscriptions together with the profits amount to LfiO per Share, the Series will he wound up ; those who have not borrowed will receive each LGO per Share in lash, and those who have had the LOO in advance will have their securities deLivsred up to them. -in ' The method of making advances is by selln" the monies accumulated for investment ay"auction amongst the Shareholders at the monthly meetings, a system which precludes all possibility of favoritism in the consideration of applications for loans. Borrowers are allowed a full share of profits on paying off their mortgages. All further information that may he desired, with printed copies of the JRules under which the Society has been worked, can he had at the Office of the Society, Temple Chambers, Princes street, Dunedin. The following Statement of the Nett Profits made by the Society during the first five years of its existence ought to he the best recommendation of the New Series _of Shares. Profits declared February, ISGo, LI./14 4s 4d; February, 1866, L 1,292 11s; February, 1567, L 604 3s 9d ; February, 1868. LI 339 19s 7d; February, 1869, L 1,936 Gs 4d, making a total of L 6.829 9s Cd. equal to Ll2 2s lOd on each share (then LTS paid up) remaining in force at that date. The profits of the past year will shortly ho declared, and arc expected not to fall short of those of the previous year. The first Subscriptions on the New Senes of Shares will ho payable on Friday, the 25th February instant, and future Subscriptions on the last Friday of each month. For Forms of Application for Shares, apply to the undersigned, or to the /Members of the Managing Cmnitto. & Secretary. Dunedin, Feb. 8, 1870. ANTED by the undersigned, a good Wholesale Hand for the Silks, 'pros* and Fancy Department. Sargood, and Ewcn. FRIDAY, 11th FEBRUARY, At 1 o'clock. At Martin's Hotel, Stafford street. J. CHAP MA N AN D 00. are instructed to sell by auction, on Friday, Uth inst., at 1 o’clock, at Martin’s Hotel, Stafford street, Household furniture, &c., &c,, &c. Cash.
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https://paperspast.natlib.govt.nz/newspapers/ESD18700210.2.18.1
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Evening Star, Volume VIII, Issue 2111, 10 February 1870, Page 3
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623Page 3 Advertisements Column 1 Evening Star, Volume VIII, Issue 2111, 10 February 1870, Page 3
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