THE PROPOSED BUILDING SOCIETY.

Manawatu Times, Volume III, Issue 57, 16 July 1879, Page 2

THE PROPOSED BUILDING SOCIETY.

The thin attendance at the preliminarymeeting held on Wednesday lasi for lity of establishing a building societyin, ■t-iej purpose of discussing the advis&bir Feiiding must not be regarded as fairly indicating the feeling of the people on, the subject. The great bulk of the- » inhabitants were not aware that such % meeting was to be held, and wi have ndr hesilation m affirming that if the few present had formed themselves into A. committee for the purp^seof^hvassing' i'~ the town and suburbs;* such'' an amount' of support woujd £aye ]>yomUed\ as would justify being' taken at the Tjiie'ting'td'Ddiieid on Wednesday. The advantages afforded by thc.ije societies are numerous. Xlie.jp enable' the shareholders to borrow on. freehold or approved leasehold securities, on easy terms ; they provide meant for the safe and profitable investment of capital, and if judiciously manTged - cannot fail to yield a large return to th*. shareholders. We quite agree with the Chairman of the meeting that- if Marton tean sup- i pert a socioty of the kind, Feildjng, with/ , its much larger population, could surely do as mu.ch. It may. be urged that thesettlers^around Marton, having arrived: at that period when they are reaping the profits of their earlier labors, are. , m a better position to support : such. a society than are our own, who are only just reooferlng from the heavy drain upon their resources cau.sed,by clearing and fencing their land, and .other, expenses incidental to the work pfrsettlirig, on their sections. This objection wouldi hold good if the entire value of the shares had to be paid down at once.. But this' is not the case, and there ia. net one m the distriot upoa the. monthly payment wpu.ld press" at al£heavily, While on this phaVe "of tKe^ question, we may renjark tnsfB 1 tKe r p?fbposal to establish ' a society . comes at a ' not inppportnne tjine. We are "m ( all, probabilifcy about to^haveVat no' Temotedate, a Temperance Clttb,^ and thermoney saved from, the public-hods^ will _ enable the. members to take snares mthe Society without feeling the additional call upon their pHr^e;a'ed w*, •can easily imagine the satisfaction that will be experienced by them when^they reflect that instead of; wasting theiri substance on that which has a tendency to ; injure rather than benefit them, they are accum.njating. for ; jtheinsel^es a fund which will enable them to procure a home, or to make provision, against "a rainy day" for themselvts : and" families. To young men, the former of these benefits should specially commend itself, while those more advanced i& - years will doubtless b« glad of so. desirable an opportunity of making provision for the period of old age steadily approaching, w.hen their bread^winning powers will have become impaired. We trust that a large and influential gathering will take place on Wednesday, to which day the meeting Aas he#n *" postponed, and that those who-haWnofc yet joined the society will then give ifc ', their cordial support. .