PROPOSED BUILDING SOCIETY.

Rangitikei Advocate and Manawatu Argus, Volume XXXIII, Issue 9098, 19 March 1908, Page 4

PROPOSED BUILDING SOCIETY.

A well-attended meeting wag held last evening at the office of Messrs Brice. Broad & Co., Martou, to consider proposals for the formation of anew building society. Mr F. R. H. Btice was voted to tiie chair. Mr O. B. Coilius explained the ‘ legal conditions under which such societies could be formed and conducted, and read a draft of suitable rules.’ After questions had been asked and| answered, a resolution,' was passed that a society be formed on the scheme outlined by Mr Collins. A provisional committee was appointed to revise the rule*: and proceed with the registration off the Society under the “Industrial, and Provident Societies Act 1877.’’ Mr O. B.g Collins was appointed secretary pro tern. 3§We are informed that the draft rules which provided for the withdrawal of shareholders only by the transfer of their shares have been amended. It is proposed to permit holders of fully paid-up shares to be paid off on giving three months’ notice. The change will make the* society more attractive to investors.