OAMARU BUILDING SOCIETY.

North Otago Times, Volume II, Issue 34, 13 October 1864, Page 3

OAMARU BUILDING SOCIETY.

' \ large and enthusiastic meeting of the inhnbitauts of the town and settle! s- in the district took place at the Northern Hotel on Tuesday cy cuing last for the purpose of forming a building society. James Ilassell Esq. having been called to the chair, shortly addicted the meeting on the subject before them, and imbed those present to come forward with resolutions. Mi Sumpter yvas unanimously elected Provisional Secretary. ft was moved by Mr Orenfoll, seconded by Mr R. r hompson and canied unanimously "that a Building society be formed, to he called ' The Oamaru Land and Building Investm nt Society.'" Proposed by Mr Fiance, seconded by Mr J. Lemon, ''that the shares shall be ■£('>() each ; 5s pel month subsetipti< n ; 109 redemption money; _<■. Gd entrance fee ; and that there shall be 500 shares in all. Carried unanimously.'V Proposed by Mr \V. Evans, seconded by Mr funni'-ighatn, " that the number of shares be limited to fi\ e^V" Pjoposed *Js an amendment by Mr Clendincn, seconded by Mr Grenfell, " that the number be limited to ten." t roposed by Mr M'NVill (but not seconded) " That the number be unlimited." On a division Mr Evan's motion was declared carried. Proposed by Mr Headland, seconded by Mi' France and unanimously agreed, " that tlu list nt names be taken of parties yvillmg to join the society, with the number of shans applied lor by each—the list to remain open till Ist >>o> ember." Pioposcd by Mr Ashcroft, seconded by Mr Sumpter, and unanimously agreed, " that a meeting of subscribers for shares be held on Ist November proximo, at the Not them Hotel to leccive enhance lees and to elect a committee and officers, and that those onl} ho pay their enhance fee of 2s Od per shaie, be entitled to vote." The list yvas then commenced and subscribed in the room hy 52 persons for 22.3 shares. After a vote of thanks to the chairman the meeting separated.