Page 4 Advertisements Column 1

Globe, Volume XX, Issue 1556, 13 February 1879, Page 4

PROSPECTUS OF THE Christchurch, svdenham, and SUBURBAN BUILDING SOCIETY. To be incorporated under “The Building Societies’ Act, 1876.” Shares fully paid up ... £lO each. Subscription Shares ... £25 each. Entrance f« e, Is per share; monthly subscription, 2a 6d per share. PROVISIONAL DIRECTORS: Frederick Back (General Manager South Island Railways) Chairman J. Evans Brown, M.H.R. Jno. Thoa, Brown Geo. Coleman R W. England W. Gristed (Manager Guthrie and Larnach’a Company) H. B. Kirk (of Messrs Austin and Kirk) Wm. S. King Wm. Langdown Wm. Neighbours. BANKERS 5 The Bank of New Zealand, solicitors : McOonnel and Douglas, MANAGER : Mr W. Charters. OFFICES : Alport’s Buildings, Hereford street, Christchurch. The rapid extension of the City of Christchurch and Borough of Sydenham, and the increasing population of their several suburbs, affords the promoters of the Christchurch, Sydenham, and Suburban Building Society room to hope that its advent is in keeping with the spirit of progress so generally adopted in this colony ; and that, without in any way interfering with the business of existing institutions, this Society will be able to assume a position profitable to investors, and otherwiss conducive to the general interests of the community. To capitalists, or persons desirous of accumulating capital, Building Societies present a mode of investment of the most convenient and profitable class, the security of which is considered unquestionable. The following statement of the Profits addad to the Shares of the three principal Societies already established in Christchurch will serve to illustrate in a marked manner the remunerative nature of this class The profits of the first two mentioned Societies are, in addition to 25 per cent., carried to reserve fund. The investing shares of the Society will bear interest at the rate of 7i per cent., which, on fully paid-up shares, will be payable half-yearly ; on subscription shares the amount will be annually added to shareholders’ account. After providing for interest to investors, and for a reserve fund, the profits of the Society will be distributed mutually between both of classes members—investors and borrowers. The system generally adopted by building societies is to allow interest at the close of each year on the value of a share at the last preceding annual balance. The head office of the Society will be in Christchurch, but it is intended to open branch offices in Sydenham and the principal suburbs for the convenience of shareholders. The success of the Society is so far assured that upwards of 1500 subscription and fully paid up shares have already been privately applied for. A general meeting of intending members will be held at an early date, for tbe purpose of adopting rules and electing permanent directors, due notice of which will be given And at such meeting a draft of the rules will be submitted. Applications for shares, accompanied with the required deposit of 10s share for fully paid-up shares, and 3a fid per share on subscription shares, may be made to Messrs Draper, Charters and Co., Alport’s Buildings, Hereford street, who will be pleased to afford all necesary information to intending shareholders. Tbe balance of fully paid-up shares, viz —£9 lOs per share —will be pay able on or before the first monthly pay-day of the Society, which Is fixed for Wednesday, April 2nd, 1879. The deposit on subscription shares will cover entrance fee. Is, and first subscription, 2s fid. No charge will be made to shareholders for annual working expenses.