AUCKLAND CO-OPERATIVE BUILDING SOCIETY.

Auckland Star, Volume XXIX, Issue 148, 25 June 1898, Page 2

AUCKLAND CO-OPERATIVE BUILDING SOCIETY.

(To the Editor.) Sir, —It is surely time some action was taken to definitely wind,up the affairs of this Society, whose liquidator's balance-sheet you published. It has taken over four years to pay tlie depositors 15s in the £', and some £6000 is wanted before the unfortunate shareholder gets a penny. Very good! We want to pay.7our debts, but we are now threatened by a sec* tion of our own membership who joined under co-operative principles- 1-the section, indeed, (representing " ?°nw £7000) who virtually broke;np-^ Society by giving notice of the .withdrawal of their capital. ' , We ought to share all alike,.buttf one section more than another^deserves preference it must be that section who hold matured shares. i My own case is an instance. I actuI ally ".paid over £18 for each £20 IW; I and am credited in addition with *- 10s interest and bonus during seven I years, and I am asked to stand asiae | for one who subscribed possibly tor i two or three years only. • > ' • i I would suggest, sir, too, that som move vigorous effort be made.to.dj^' I pose of "the properties. Let them w ! properly flagged and advertised, aiw ! let the' liquidators call a meeting . l» j fix a date for the closing up society, as the items for 'depreciation and 'expenses' seem to promise.jjggij than ever to appear largely m ."^ of 'properties sold.'—Yours, etc.,. . . I FIRST AND FINAI*. :