Page 3 Advertisements Column 2

Globe, Volume VIII, Issue 1082, 15 December 1877, Page 3

EVERETT BROS. & CO., CASHEL STREET. Everett bros. & co. have much pleasure in announcing to the inhabitants of Christchurch and the surrounding districts that they have TAKEN THE PREMISES Lately occupied by Mr Gavin, and are now showing an entirely new and well-assorted STOCK or GENERAL DRAPERY, Millinery Ladies’ Under-clothing Men’s Clothing Mercery Hats, Caps, &c. The above Goods have been purchased by one of the firm resident in London for cash, which will enable them to compete favorably in prices with other retail houses in Christchurch. EVERETT BROS. & CO., CASHEL STREET. 7391 DOWN AGAIN. WHO would be without Water when you can get good Hows guaranteed from £3 10s Od 4 10 0 5 10 0 upwards for cash. F. GRANT, Ferry road, 7315 Next to Duncan’s Nursery. TO FRUITGROWERS AN DOT HERS. WANTED Cherries and Strawberries. The highest price given for prime samples, T. POOLE, 7403 Colombo and High streets. PROSPECTUS OK THE CANTERBURY BUILDING SOCIETY (Permanent.) Incorporated under “ The Building Societies’ Act, 1870.” Sharks ... ... JUG kacxi. Fully paid-up shares to bo paid up in one sum. Subscription shares, monthly subscription, 2s 6d. Provisional Directors . A. Garrick E. S. Harley .las. Goss John Anderson, Jun. .1. V. Ross J. D. Frankish, M.D. P. Laurie E. Sutherland S. Manning T. L. Laine R. W. England Geo. Mackay A. W. Money W. Eadcliffe A. J. White. Bankers: The National Bank of New Zealand. Solicitor : H. H. Longhnan. Manager: E. J. T. Ford. Offices : Hereford street, Christchurch (next door to Messrs Miles, Hassal and Co.) THE Provisional Directors of the Canterbury Building Society, seeing amongst other things that the last of the “Terminable Societies” must soon run out, and bearing in mind the continued prosperity and rapid growth of this provincial district, believe there is ample room for this Society, without interfering with the operations of those already established. The very large sums (in the aggregate) held on deposit by the Banks and the various JointStock Companies at comparatively low rates of interest, point to the fact that a large amount of surplus capital awaits profitable investment. It is evident that the building societies of Christchurch, as at present constituted, do not meet the requirements of such investors (except in receiving deposits). They have undoubtedly been of considerable service in promoting settlement, and have met with great success; yet their shares have been difficult of sale in the market, and shareholders desiring to be relieved of their monthly subscriptions have been com. pelled to withdraw from the Society. In dull or depressed times, or during certain states of the money market, such withdrawals have frequently been sufficiently numerous to retard a Society’s progress. The Directors of this Society propose to issue Shares in such a form as will ensure their becoming readily saleable in the open market. As ono of the means likely to effect this object, as well as to offer an undoubted advantage to persons desirous of borrowing small sums of money, the value of the shares has been fixed at .£lO each. For the benefit of those having money for investment, but who find it inconvenient to make regular monthly payments, or who desire to ensure a regular annual income from their investments, “ Fully paid-up ” Shares will be issued, bearing interest at the rajte of 7.V per cent, per annum, payable hilt-yearly, which will also receive an equitable share of the profits at each investigation, as provided for in the rules. The monthly payment for Subscription Shares is fixed at such a rate as will enable the ultimate value of the shares being attained in a very much shorter time than has hitherto been provided for by any other similar institution, thus avoiding the objection raised by many’to the responsibility of undertaking monthly payments extending over so long a term as nine |or ten years. Facilities will he given for the conversion of Subscription into Fully Paid-up Shares, when the monthly subscription will cease, and the member will thenceforth receive Interest and Dividends upon his investment. Subscription Shares upon reaching their ultimate value may either be withdrawn or converted into Fully Paid-up Shares. Withdrawals of shares iu both classes will be allowed on the usual conditions as to notice, &c., but the Directors confidently believe that the Shares of this Society w ill be saleable in the open market, thus rendering withdrawals unnecessary. Loans will be granted for terms of from one to twelve years. The Provisional Directors feel assured that the inauguration of this Society on the above basis will commend itself to a large class of investors, who have hitherto been unable to participate in the advantages derivable from such a thoroughly safe and highly profitable means of investment as .building Societies have proved themselves to be ; whilst those having monthly savings to invest will see manifest advantages in the shorter term, end in the facilities given for the conversion, of subscription into fully paid-up shares. It m proposed to establish Agencies of this Society iu the principal towns or tha provfou& district of Canterbury. Conies of the proposed rules may be obtained at the offices of the* Society, where applications tor shares may be made between the honrs of 10 a.m. and 4 p.m. .(Saturdays 10 to 12) until the Sth day of January next, when the first monthly mooting will be held. The first general meeting for the purpose of electing Permanent Directors. Arbitrators, and a shareholders’ Auditor, will be held iu January next. 7416