ASHBURTON.

Globe, Volume II, Issue 118, 16 October 1874, Page 3

ASHBURTON.

A very large and influential meeting, numbering some, fifty persons, met at the Road Board-office on the evening of October 14tb, to endeavor to float a building society, and to hear the report of the local committee appointed to ventilate the subject at the former meeting. After the usual formula of public meetings had been gone through, the following report was read: — “ We beg to report, gentlemen, for your information, as follows: —We consider that from the share lists sent in, the prospects are sufficiently good to insure the success of a local Building and Investment Society in the Ashburton. It is believed that at least a thousand shares will be subscribed for. We have to advise that there be a board of provisional directors appointed at once, to consist of nine in number, each of whom shall hold not less than five invesiment shares in the society. It is advised that they shall be directed to issue a prospecius, and have power to appoint a secretary and honorary provisional treasurer, and take what steps they consider requisite- to successfully establish the undertaking. “ J, M. Cambridge, For self and other committeemen.”

Proposed by Mr Parkin, seconded by Mr W, Smi'h, and carried, “ That the society be established as a local society.”

Proposed by Mr Bruce, seconded by Mr Bullock—“ That the society be a permanent one.”

Proposed as an amendment by Mr Ward, seconded by Mr Poyntz—“ That the society be a terminating one.” On being put to the meeting, the former resolution was carried, after a very considerable discussion.

Proposed by Mr Parkin, seconded by Mr Fooks —“ That the share' be fixed at £50.”

Proposed by Mr Poyntz, seconded by Mr W. Smith -That the shares be fixed at £100.”

Proposed by Mr Bullock, seconded by Mr St. Hill -“That the shares be fixed at ” This also evoked a long discussion, when the first resolution was ultimately carried Proposed by Mr Cooper, seconded by Mr Flockton —“ That nine form the number of provisional committee, five to form a quorum.” Carried. Proposed by Mr Parkin, seconded by Mr Bruce—“ That each member of the provisional committee be a subscriber of five investment shares.” Carried.

Proposed by Mr Cooper, seconded by Mr Bullock, and carried —“That the election of a provisional committee be decided by open voting.” Proposed by Mr Bruce, seconded by Mr Bullock—“ That the provisional committee be authorised to issue a prospectus, appoint a permanent secretary, honorary provisional treasurer, draw up rules, and attend to all other requisite matters.” Proposed by Mr Parkin, seconded by Mr Smith—“ That the appointment of a permanent secretary be left to the permanent directors.” Carried.

Proposed by Mr Bruce, seconded by Mr Parkin—“That the provisional committee draw up ruks, appoint honorary treasurer, and attend to all other requisite matters.’ Thefollowing gentleman having been duly proposed and seconded as members of the provisional committee, viz:—Dr Trevor, Messrs O. B. Books, G. Parkin, J. Cambridge, —. Roberts, H. Fried lander, G. Johnston, T. Bullock, H. Cooper, F. Ward, D. Williamson, J. S. Bruce, —. Bell, B. Hughes, —. Meikelhan, C. Flockton and Doherty, and Messrs Ward, Flockton. and Doherty having requested to withdraw their names, the first nine were declared duly elected. A vote of thanks to the chair terminated one of the most successful meetings at the Ashburton, great interest being evinced in the proceedings throughout.