The Wairarapa Daily. THURSDAY, SEPTEMBER 25, 1884. THE MASTERTON PERMANENT INVESTMENT AND BUILDING SOCIETY.

Wairarapa Daily Times, Volume 6, Issue 1797, 25 September 1884, Page 2

The Wairarapa Daily. THURSDAY, SEPTEMBER 25, 1884. THE MASTERTON PERMANENT INVESTMENT AND BUILDING SOCIETY.

The annual , meetings of our Building Societies are usually satisfactory gatherings, As a rule they present a cheerful record in which a substantial dividend to investors is a salient feature, About a dozen years ago the first society of this kind was established in the Lower Valley with Greytown for its head quarters and it is not too much to say that every annual report which it hos produced has testified to the unvarying and continuous successof its operations, This society has never had a bad years business. Investors in it have always got good interest for their money and borrowers have in numerous instances through the conveniences it has afforded to their small means, been enabled to acquire freeholds in both town and country. The Masterton society started a few years later than the parent institution at Greytown, but when it wag established times were somewhat too good in this town and there existed a ficticious amount of inflation iu all business transactions. The consequence was that for the first two or threß years the society, made but little substantial headway, After a time however, it began to gather strength and during the past four or five years it has more than held its own and has emulated the success of the parent society at Greytown, As yet the advantages which these Societies offer to both lenders and borrowers are but imperfectly understood, although every year fresh members are enrolled in their ranks who become converts to the principles on which they are conducted, and who participate in the very substantial profits which they yield. The Post Office Savings Bank is the usual outlet for small savings, but depositors in that institution have to be contented with a very small rate of interest, and when they find that by putting their money into a Building Society they can double and treble the rate of interest they receive they are justified in investing in one. A well managed Building Society—such as the one established at Greytownand the one at Masterton is viitually as safe as a Post Office Savings Bank and is far more profitable, The Wairaiapa has every reason to be proud of the success of its two building Societies, Both have made their mark in the past and both may be expected to increase and prosper in the future,