TERMINAT1NG BUILDING SOCIETY.

Waimate Daily Advertiser, Volume II, Issue 7, 13 June 1899, Page 2

TERMINATING BUILDING SOCIETY.

(TO THE EDITO*,f Sib. — In your issue of June Bth, apnears a letter sigued "E. Bannovman," in i which he attacks the Terminating Buildin? Society as a gambling institution. He, Sir, acknowledged at the first meeting of promoters it was stated '• The special object, is to provide funds for making advances to members on mortgage without inteiest," a very woifchy object, I ceitainly maintain. The piinciple we say, is, cooperation. Jfast so. " And $. Bannerman -complains that no prospectus has been issued by the piomoters, nor is likely to b/ as the society as been formed,' iliiectois and offlceis appointed, and rules adopted, all of courses, without the assistance of E. 'Bannerman t and of com so ' this is where the shoe pinches, hence the! attack. Now, since" ~E< Bannerman has assumed a new role, thai, of a ' moralist,' I suppose the people of Waimate will soon become converted, and denounce all such loathsome, institutions, such as social clubs' an/1 Terminating Building Societies — of couise the diink trad'} an'd co-opera-tive societies always exceptert, unlesi they | leceive the extraordinary assistance of 3?« Bannerman. Then oi eotfrse they will always become flourishing institutions, dnd not gambling social clubs. — I am, otCi, O.VE JSTT2!I:B3tS.D.