Page 4 Advertisements Column 5

Wanganui Chronicle, Volume XXI, Issue 4056, 2 June 1879, Page 4

PEOBPEOTUS OF THE WANGANUI LOAN AND INVESTMENT SOCIETY. CAPITAL £50,000, in 5000 Shares of £10 Each. Provisional Directory. Mr F. R. Jackßoa Dr R. O. Earle Mr J. P. Watt Mr W. D. Shaw Mr Peter Bell Mr G. Beaven Mr O. H. Borlase Mr John Notroan Mr H. Hurley Mr J. G. Sharpe Mr Donald Rosa Mr J. C. Brechin Mr C. H. Aahforth (Manager.) Society's Office, Rutland Chambers. The history of Building Societies in Wanganui is a record of Bucceas, beneficial alike to borrowers and investors. They have enabled many to obtain by a graduated and easy scale of payments a freehold property, and have provided others with a safe and profitable method of investment. ' '•■'"■ Terminable Societies, however, as their name indicates, soon run their course, and it became necessary in order to cope with the ever increasing demand for building operations to inaugurate new Companies. On the terminable system in this district two Societies have been concluded, leaving three in actual operation, one of these, however, will be wound up in a few months, so that practically there are only two transacting the ordinary business of a Building Society. „ . . The experience of the past years-has shown that the time has now arrived when another Society on the terminable principle can be established with a certain prospect of success. With a conscientious belief that the Wanganui Loan and Investment Society "will meet a growing demand, and at once enter upon a poofitable business, the Provisional Directors place the Bame before the pub)ic. It is proposed to make an import- . ant alteration in the amount of Shares and scales of payments, and in thus departing from the usual plan adopted, the Directors would point out the advantages gained thereby. By placing the value of the Shares at -£10, and the monthly calls at 2s per Share, it is estimated that the Society will be enabled to terminate in Bix years from the date of commencement. ; As an example of the working of the proposed Society, the following figures are given : — A borrower to the extent of £100 would repay at the rate of £1 16s 8d per month for the six years, so that at the close of the opera-, tions he will have paid in £132. This' scale will be found to favourably compare with any similar institution ih the Colony. The advantage of being a Share-; holder in a Building Society cannot well be estimated. It possesses all the benefit of a Savings Bank, with etter interest, and it enables a member to take advantage of any eligible opportunity arising for the acquirement of real estate. As a proof of the extent to which the terminable system has been used in this district, it is pointed out that in three existing Societies upwards of £60,000 has been borrowed on freehold and approved leasehold properties. This Society, will be established under the " Building Societies Act, 1876." By the provisions of this Act the usual competition for money is abolished. The operations of the new Society will not be solely confined to Wanganui, but will be extended among the established townships on this coast as opportunities occur for safe investments. The entrance has been' fixed at iwo shillings and sixpence for the first share and Is for each additional successive share. • £orm of application is attached which should be. filled in and returned ••; as quickly as possible, as it is proposed to commence operations ih the month of April. ' •• • ; Deposits on application can be paid to the Branches of the Bank of New South Wales- at Bulls, Feilding, Carlyle, and Hawera, and at the stores o Mr F. Beaven at Marfcon, u and Mf D. M. Hogg at Wa/erleyv NEW FANCY BAZAAR. MONTAGUE & GO, of Auckland and Ohristchurch, have much pleasure in announcing to the inhabitants of Wanganui and surrounding districts that having secured those eligible premises situate in the Avenue, recently erected by Messrs Pollock and Young, they, will open a branch establishment on or about SATURDAY, THE 26th INST., With a Large and Varied Stock of GENERAL FANCY GOODS, Consisting of Gold and Silver Watches, Chains, Jewellery of every description, Clocks, Cabinetware, Vases, Ornaments, Dolls, Toys, Wools; Fancy Work of every description, Musical Instruments, Electro-plated Goods,' Pictures, &c, Ac, which will be! offered to the public at' the lowest possible remunerative prices. The large amount of Buccess which has attended Messrs Montague and Go's establishments both in Auckland and Chrifltchurch justify themin'the belief that they will by opening one of their well known branches in Wanganui Bupply a longrfelt need, and jvili meet with a similar amount of success. Note the Address— ! MONTAGUifi AND COS FANCY. • ■•■ BAZAAB-i ■- "-:.^;i M ij I,A '.AVENUE, (NextW, D;Bhftw's)^/ ' unm-i