PROGRESS OF TE KUITI.

King Country Chronicle, Volume VI, Issue 487, 31 July 1912, Page 5

PROGRESS OF TE KUITI.

THE BUILDING SOCIETY,

With the rapid expansion of settlement in the district and the establishing of permanent industries in the town the population of Te Kuiti has been steadily increasing during the past few years. A knowledge of the district and ot the conditions which contribute to the building up of a town serves to emphasise the opinion that Te Kuiti, together with other KTng Country centres, must progress steadily for many years to come. In the circumstances it is but natural that the progressive citizens should seek to establish in the town institutions which serve to assist in the march of progress, and play an important part in giving to town workers of every grade material advantages and asistance in providing homes for their families, on terms within the scope of every income. The Te Kuiti Permanent Building and Investment Society, which has just been established offers the means to all of investing their savings to advantage. It operates as a savings bank, returning good interest to persons who wish to provide against the proverbial rainy day. It offers an excellent avenue for the investment of capital. While these advantages are of the highest importance from a strictly business standpoint, the additional recommendation that every pound invested or deposited with the society assists immensely in the building of the town should appeal to every resident. It naturally follows that an institution which offers such inducements to thrift, returns good interest to all, and assists so materially in the advancement of the town is worthy if every support. The capital shares of the society number two thousand at £5 each, thus fixing the paid up capital at £IO,OOO. These shares are subscribed by shareholders at 2s 6d each per month. Investment shares in the society are really deposits which are received at the rate of 5s 3d per month for 21 years at the end of which period the sum of £IOO Is 9d becomes payable to the holder of the share. The money deposited, together with proftts can be withdrawn at any time upon giving the necessary notice. The society is sure to grow into a highly successful institution and with reasonable support at the present time will certainly do much towards building up the town. A glance at the list of directors and officials connected with the suciety should serve to assure all intending investors and shareholders of the soundness and stability of the society