NEW BUILDING SOCIETY.

Globe, Volume XXIV, Issue 2638, 20 September 1882, Page 3

NEW BUILDING SOCIETY.

A publio meeting was held last evening at Collier's Boyal George Hotel, Etst Belt, Ghristohuroh, to take into consideration the advisability of forming a Mutual Buiiding Sooiety. There was a fair attendance, and on the motion of Mr Collier, Mf J. Parry was voted to the chair. The Chairman called upon Mr Share, the promoter of the soheme, who read the advertisement calling the meeting. He said it was proposed to form a building sooiety on a similar basis as those now being so successfully carried on in London and Sydney; Mr Shuve then read a draft of rules, and concluded by expressing his willingness to answer any questions upon the subjeot. In reply to a question, Mr Shave said the rules just read were those of the London Commercial Benefit Building Society and the Starr Bowkott. The appropriation to be by ballot and sale alternately, the society to be limited to 410 shares, and the subscription to be 2b 6d per week, After some discussion, the Ohaiiman suggested that it would be advisable to say whether a sooiety should be formed or not. Mr George Collier moved—" That it is desirable that aCo o

jperative Building Society (Limited) be formed." Ihe motion was seconded by Mr Hutohinson and carried. Considerable discussion enßued as to the advisability of proceeding with the rules, and ultimately it was decided that a committee, consisting of Messrs Foster, Barker, Wagstaff, Bell, Scott, Hutohison, Shave, Barry, and Collier be appointed to prepare a report as to the working of similar institutions, the same to be presented at a meeting to be held on October 3rd. Votes of thanks to the chair and to Mr Collier for the use of the room was oarried with acclamation.