OAMARU BUILDING SOCIETY.

North Otago Times, Volume II, Issue 40, 24 November 1864, Page 3

OAMARU BUILDING SOCIETY.

Pursuant to advertisement, a, meeting of the sharejders of this Society was held on Tuesday, the 22nd itant, in the hall of the Northern Hotel. Mr Gibbs if he diair.

The minute? of the two general meetings were ap•oved and authenticated.

The Secretary proceeded to read over to the meeting ;e Society's rules, as prepared by the Committee.

On the rule regarding the number of shares being ■ad. the meeting decided that the number of shares btted to any one member shall not exceed five.

On the clause of the rule in reference to Bye-IaAVS king put, that the Committee should have power to take bye-laws, if necessary, from time to time, it was wired by Mr Shrimslci and seconded, " That such byeiirs should not be in force until approved by a, general :eeting of the shareholders."

Moved as an amendment by Mr Headland, and seonded, " That the proposed rule stand as it is." It was also moved as another amendment by Mr wnpter and seconded, " That the Committee possess fee confidence of the shareholders."

Mi France and several other members of Committee ipressed their opinion that such a motion, if carried, wild completely fetter the Committee, and compel hem to resign. On n division Mr Headland's amendment was carried ■y a considerable majoi ity. Mr Shrimski etated that he *'l no intention to imply in his motion any want of »nfidence in the Committee

The rest of the rules were finally adjusted. The reamder of the minutes of Committee were then read id approved. ft was unanimously agreed that the Secretary's laiy should commence as on the Bth October, the date the fiist meeting. It was reported that 056 shares had been taken up, id the entrance fees pail, and that about 30 more apicationshad been made.

Moved byMrShrimski and agreed to, "Thatapplitions for shares be now received,"

The list of shai eholders was then filled up by fresh pphcants, and the full number of 750 shares is now up. Meagre 11. France and J. Lemon were appointed to be 'eivards for next meeting of shareholders, and it was solved that the next meeting should behsld on the 3rd Member, prox., for the purpose of receiving subscripts, &c. The amount of security to be given by the several fficere of the Society, was fixed as follows :—£2oo by b Secretary; £250 by each member of Committee : 500 by each of the Trustees; and £500 by the Trea]i er.

The appointment of a Vice-Chairman was then prowled with. Mr Wm. Black and Mr John Allan were fvevally nominated. Mr Allan having declined, Mr ilack was appointed. The Secretary was authorised to order the necessary ;rinting, stationery, &c. A vote of thanks was unanimously given to the ikirman, and the meeting adjourned till Saturday, 3rd December. (In consequence of the confusion incident r) (his and other large meetings, where it is not uncom3on for three or four to address the chair at one time, »c do not undertake to give a literal report of the pro- )