BUILDING SOCIETY.

Hauraki Plains Gazette, Volume XXXIII, Issue 4393, 22 March 1922, Page 2

BUILDING SOCIETY.

e AVOIDING DUPLICATION. CHAMBER OF COMMERCE. PUBLIC MEETING PROPOSED. Presumably the duplication of all movements, in their initial stages at any rate, is, a way they have in Paero.a. The latest example of this kind of thing is the case of the proposed building society, a “Paeroa” and also a “Thames Valley” society being on the boards, the'former the creation of a body of local business men and others, and the latter the as yet unborn babe of the Paeroa Chamber of Commerce. However, after the usual friction and heartburnings, the parties are wiselj’ heading for the only safe road—cooperation. The subject of a building society formed the major business nt a meeting of the Chamber last, night, the president (Mr E. W. Porritt) being in the chair, when the secretary (Mr Jas. Couper) read the following report: For some time past the matter of «he formation of a building society has been in hand. On two visits to Auckland the secretary, Mr Couper, has been making enquiries and obtaining information. He was not at last meeting, and as the hour was late discussion was postponed to this meeting. What had been holding the matter up was the difficulty of securing a secretary who was a qualified accountant. There was no one in Paeroa. so far as the Chamber is aware, qualified to fill ’the appointment, with the exception, perhaps, of Mr Russell, who refused. Since our last meeting we have‘secured Mr C. B. Harper (A.P.A. N.Z.), a duly qualified public accountant and auditor, and an auditor under “T/ie Friendly Societies Act/’ and the -secretary of the Waihi Terminatthe Building Society. Mr Harper will come to Paeroa as required, and will act until .the society is able to get a permanent qualified secretary, who will reside in Paeroa. With tihe difficulty about a secretary- disposed of the Executive Committee decided to proceed with l he formation of a society, to be called “The Thames Valley Co-operative Terminating Building Society.” The name “ Thamse Valley ” was selected after some discussion of names, as it is well known, and the scope of operations will cover the surrounding district, in addition 'te the Borough of Paeroa, and a considerable outside assistance has been promised. It has been decided to register the society under the executive committee of the Paeroa Chamber of Commerce, pending the election of a board of directors by the shareholders. The Executive Committee decided to adopt the Auckland rules, with modifications to suit l.ocal circumr st.ances, and to appoint the 'office of the Chamber of Commerce as ( a temporary office, until an office is got for the society. A short, prospectus has been prepared, and when matters are-all arranged it is proposed to call a public meeting, to be addressed by a prominent member of the Auckland society, and then enrol subscribers. As soon as a sufficient number of subscribers are enrolled it is proposed to call a meeting of them, to elect, a board of directors, etc.

From the promises qf support already given 'there is every indication of a society being commenced on a sound financial basis, and that before long money will be available for appropriation, for building purposes, both in Paeroa and the surrounding settlements. Last meeting approved of t,he proposal to form a building society, and now all that is required is to take steps to secure membership for tihe society. Mr Harper has all necessary books and forms, and will do what he can to assist in getting a good start. It, is suggested that the prospectus (form enclosed) be printed and circulated witlji forms of application for shares, and that a meeting be called to elect the directors as soon as applications are received for, say; 700 shares, which the Chamber has in sight.-

LIVELY DISCUSSION. Mr Edwin Edwards said the suggestion to call the society “Thames Valley” instead of "Paeroa” was quite contrary to the campaign for “boosting” Paeroa. There was nothing in the name “Thames Valley” to connect the society with Paeroa. The endeavour to form two societies would kill the object they were all endeavouring to attiaifr. The president (Mr E. W. Porritt) said he had attended a meeting under the impression that he was furthering the movement the Chamber had initiated.The Rev. W. J. Enticott endorsed Mr Porritt’s views. The secretary (Mr Jas. Couper) said he had been Working bn the society proposal for a long time, and had never'dreamed that anyone else was working in the same direction. He had been to Auckland twice on the matter and had got a prominent member of the Auckland Building Society to promise to give an address in Paeroa. He felt disappointed at not being informed of the position. Mr W. Marshall said he had no knowledge of the Chamber’s activities. The whole business was regrettable and contemptible in the extreme. Until tihe residents were prepared to work together for the common good, not for kudos, then their efforts would be fruitless. The executive of the Chamber had acted contrary to the interests of the town. Any of tihe directors would'be glad of the co-operation of the Chamber. The attitude of the president at the first meeting and at the Chamber meeting was extraordinary. Mr Porritt said he was asked to attend the first meeting, on bhe understanding that it was to further the Chamber’s obje'et, on the lines of an article which apepared in the “Hauraki Plains Gazette.” The Rev. Enticott said that undoubtedly the public opinion was 'hat the provisional directors should

not have been appointed before a public meeting was held. This view was widely expressed. Mr W. D. Nicholas said the Thames and Auckland societies were both formed by a few private individuals in the first, place, and not by public meetings. The Rev. Enticott replied that Thames and Auckland might' not be infallible. If public support wag wanted, then the public would expect to be consulted in the first, place. Mr L. Cassrels said he was surprised that the directors had been appointed), and that the executive had gone so far ,as the report indicated. If, however, the Chamber di J initiate the movement, tihe loss of the kudos due to it was detrimental to its status. But there was nothing tangihlfe to stop all parties from heartily co-operating now. Mr Porritt: There is no question of kudos. Mr Cassrels: There should be, for it is often asked, - “What has the Chamber done for the town ?” Mr Marshall said thaf if the Chamber was to be used as a ventilating ground for grievances against a coterie who- were working for the benefit of the town, he would resign from the Chamber. The provisional directors would receive but were -willing to work and sacrifice themselves for the general good. This spirit would have to be eliminated; the piovisional directors, he believed, would be willing to resign ami aliow the organisation to be reformed on lines of co-operation and goodwill. Mr P. E. Brenan (Mayor), said he moved that the society be formed, but he did not think there was rpom for two. If the Chamber was endeavouring to break' up the society, it was a mistaken policy. It would be better for the provisional diretx tors to retire, and for the society to be formed as "The Paeroa Co-opera-tive Terminating Bujlding Society.,” He was quite content to withdraw from the concern. Mr R. Whitten thought it did not matter what the name was. Mr Marshall said that gs the report stated an accountant .was engaged, the society must already be formed. Mr Porritt objected to this interpretation. Mr Cassrels : Is there anything to prevent both parties co-operating ? Mr Porritt: Nothing at all. ' Mr A. White strongly ‘ contended that the name “Paeroa” should be used. He thought the first meeting was merely to talk.things over, and he was surprised that the meeting went as far as it did. He thought a public meeting and lecture by au authority should precede the election of directors. Under tihe circumstances, die did not intend to become a guarantor. The whole thing should be opened again and a public meeting held. Mr Marshall thought the Chamber of Commerce had been galvanised into prompt action by the first meeting. Rev. Enticott: Perhaps the Chamber galvanised others into, action. In reply to Mr Marshall, Mr Porritt said Mr Harper, had agreed to be secretary until a permanent secretary was. appointed. He was a registered accountant, a secretary of a building society, and a fully qualified man. The Chamber had initiated such a movement seven years ago. Mr Edwards : Then it was a good thing . another movement started. (Laughter.) Mr White proposed : “That the provisional directors of the Paeroa Building Society be asked to disband and join with t'he executive of the Chamber in calling a public meeting and inaugurating a society/’ Mr W. Marshall, seconded. Mr Edwards moved an amendment: “That t'he report be not adopted, and that this meeting recommend the executive to first approach the directors w/th a view to securing their co-opei’a'tion with the Chamber and in calling a public meeting fp'r. the purpose of forming a society.’’ Mr White withdrew his motion and seconded Mr Edward’s motion.. Mr Marshall moved, and 'Mr W. Taylor seconded, a motion that the provisional directors be invited to disband, and to cC-operate with the Chamber, call a public meeting, and heartily co-operate. THE ATMOSPHERE CLEARED. On the voting Mi Edward’s amendment was carried, so that, it now remains for the two bodies to get together and unite in the calling of a public meeting. At such a meeting an address could be delivered by an expert (Mr A. J. Entrican, of>fiuckland, or Mr F. H.i Claxton, of Thames, for instance); after which shareholders could be enrolled, who would then appoint their directors.