The Feilding Star. Published Daily. WEDNESDAY, NOV 1, 1893 THE FEILDING PERMANENT BUILDING SOCIETY.

Feilding Star, Volume XV, Issue 106, 1 November 1893, Page 2

The Feilding Star. Published Daily. WEDNE SDAY, NOV 1, 1893 THE FEILDING PERMANENT BUILDING SOCIETY.

We have to congratulate the people of Feilding on the fact that the local Permanent Building Society has practically commenced operations from to-day. Many of our readers will remember that some few years jigo an attempt was made to form such a society, but from a variety of causes the project was dropped. Nevertheless the seed then sown on what at the time appeared to be but barren ground has germinated and now sprung into vigorous life. What was really wanted was a man of acknowledged ability, and recognised com mercial standing as a manager, for without such a man a society of the kind could not possibly have the confidence of the public. The Feilding Permanent Building Society as now constituted has been able to secure the services of such a uiau in Mr Edmund Goodbehere, the present Mayor of the Borough, the Secretary of the Kiwitea Road Board, and of other local institutions in all of which positions he has exhibited tact, skill, energy, and self-sacrifice which have earned him not only the goodwill but the respect of everyone with whom he has been brought into contact whether officially or privately. This is high praise, but there are few iv Feilding, or, in fact, any of the surrounding settlements, who will not agree with it. The provisional directors are all men of business experience, and possessed of the local knowledge and information necessary for the performance of their onerous duties. Of course we cannot give figures, but we may say that the Society is now prepared to receive applications for advances to a moderate extent, but they will be, so to speak, continuous. Therefore, if an applicant does not obtain what he wants at one meeting of the Board o Directors, he may be more fortunate at the following. On the other hand investors may be assured that their money will onlj be placed on the very best security, because the policy of the Directors will be to encourage only those who are seeking the help of the Society to make homes for themselves. The mere speculator who wants to benefit himself alone by using the funds of the Society, for building purposes, will not be encouraged The general policy of the Directors will be strict economy ot management. While we admit that the Society is so fur a success, inasmuch as it is now legally established, and it has sufficient funds to commence profitable operations as far as the shareholders and investors now on the list are concerned. Yet, much may be done by the hearty co-operation of those residents in and arouud Feilding who have not yet taken any part in the affair. Iv helping the Society, they not only earn profit in actual cash returns directly, but they indirectly benefit themselves by the enhancement of the value of their own properties, especially in the suburbs where most of the private residences are now being erected.