Page 4 Advertisements Column 5

Wanganui Chronicle, Volume XXI, Issue 4057, 3 June 1879, Page 4

PEOBPE O T U S , OF THE WANGANUI LOAN AND INVESTMENT SOCIETY. , CAPITAL £50,000, in 5000 Share* of £10 Each. Peovisional Directory. { Mr F. R. Jackson Dr R. O. Earle Mr J. P. Watt Mr W. D. Shaw i IMr Peter Bell . Mr G. Beaven I Mr C. H. Borlaee Mr John Notman Mr H. Hurley Mr J. G. Sharpe Mr Donald Ros3 Mr J. C. Brechin Mr O. H. Aahforth (Manager.) Society's Office, Eutland Chambers. The history of Building Societies in Wanganui is a record of success, 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, is 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 con- 1 eluded, 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. Tho experience of the past years has Bhown 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 same before the public. It is proposed to make an important alteration in the amount of Snares 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 six 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 operations he will have paid in £132. This scale will be found to favourably compare with any similar institution in the Colony. The advantage of being a Shareholder in a Building Society cannot wen do estimated, it possesses an the benefit of a Savings Bank, with otter 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 two shillings and sixpence for the first share and Is for each additional successive share. Form of application is attached which should be filled in and returned as quickly as possible; as it is proposed to commence operations in 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 Mar ton, .and Mf D. M. Hogg at Waverley, NEW FANCY BAZAAR. MONTAGUE & CO, of Auckland and Christchurch, have much pleasure in announcing to the inhabitants of Wanganui and surrounding districtp that having secured those eligible premises situate in the Avenue, recently erected by Messrs Pollock and sToung, they "will" open a branch establishment on or about SATURDAY, THE 26th INST., With a Large and Varied Stock of GENERAL FANCY QOODS, Consisting of Gold and Silver Watches, ■Chains, Jewellery of every description, Clocks,, Cabinetware, Vases,. Ornameritß, ' Dolls, Toys, Wools, Fancy Work of every description, Musical Instruments, Electrd-pTalted Goods, Pictures, &c, &c s whicti will, jje offered td v the public at the'laweßi; possible remunerative prices. '' ; J j. ; The large amount of success which has attended Messrs Montague and Go's establishments both in Auckland : and Christchurch justify them in the belief that they will by opening one of their well known branches in Wanganui supply a long-felt, need, and ; wijl meet with a similar amount of success.' Note the Address— l MONTAGUE AND COS FANCY BAZAAR, ■ V- ' y AVENUE, '■■■ (NeHrWvD.3ha^B).