COUNTY OF GERARDINE PERMANENT BUILDING AND INVESTMENT SOCIETY.

Temuka Leader, Issue 906, 19 January 1882, Page 2

COUNTY OF GERARDINE PERMANENT BUILDING AND INVESTMENT SOCIETY.

TO THE EDITOR. Sir, —A short time ago such an institution, as the abov* was started in Temuka for the ■ benefit of those who wished to have small loans granted to them for the purpose (then) . of erecting small homes for themselves. This I may say was not carried out, as residents of • the place who were anxious to build when they applied, theilv. applications were not on the. ground that some of the directors, thought that the. security was not good enough. How is it then that the same, parties when refused by the above society could obtain loans elsewhere ? The objects of the society have thus been set aside for the benefit of a few favored individuals who first promoted the undertaking of it: But the, members of the society have since been sur-. prised to find that their funds have not been increased by these transactions. Another, instance of the way in which the society is _ being managed hi 8 come to light. Instead of : fixing the Secretary’s salary, inviting applications, and appointing the most eligible man, they called for .tenders, aud have now given it to the lowest tenderer, for the.sum ,o£ £ls . per annum, himself to provide an office for their meetings. A great deal depeads upon having a good man as Secretary, and I do not think that a man who values his services at such a low rate is the right man in the right place.—l am &c. Resident.