CORRESPONDENCE.

Feilding Star, Volume VI, Issue 140, 12 May 1885, Page 2

CORRESPONDENCE.

[We are not responsible for the opinions of our correspondents.] •»•

TO THI KDITOB OF TH« fTAB. Sir, — I observe from a local appearing in jour last issue that you draw attention to the non-existence of a local Building Society, and allege- that there is now a good' opening iff Feilding. for the operation of- '«aca-<aix institution. I may ysay that I, &S & business man brought in frequent contact with small property holders in. the town and surrounding district*, entirely concur with this view, and feel confident that should such ah institution as that referred to be formed it would meet with, veiy general suppor^, and prove not only a. financial sueceid% to its subscribers, but •! great i assistance t» many persons of email means seeking to acquire a home ;Wt not having, sufficient cash at their di^po^al. It is a recognised iact thatj^e tf^k of obtaining a small mortgage on towa property in Feildingis difficult, tedipu^ and expensive as the money so: obtained has, in most cases, to come from a considerable, distance, and the;,result is consequently, as a. g^ner^l rl^e, far from satisfacjkpry. 1 ' jfyjhereas on. the other hand the "i acilitie^jjaff orded by a local Building Society would offer a ready means: of . •o^t^ning the requisite accpmmodauoßi, t whue \_ it would induce ijiabits df thrra, |fid v at the same time an^rd borrowers tlie opportunity of paying off.l^ans on^a short notice should theyo i a : ftf any itoft find it to their advantage, , to \dlo so. In conclusion 1 inay;remindj you. \<?f the large amount of money which ha» been sent 5 away from FeHoXiy^jiuring the last six or seven • years »s interest paid to various, outside Building Societies.- I may ; add, too, that,o| my own, knowledge, several loans have been arranged with the R&ngitikei and Manawatu Building Societies and think the time has _ arrived when, we should co-operate ih the'matt«r for bur mutual benefit.-=-I am, &e.^ QYl*i