Dannevirke Advocate TUESDAY, SEPTEMBER 30. STARR-BOWKETT SOCIETY.

Bush Advocate, Volume XIV, Issue 157, 30 September 1902, Page 2

Dannevirke Advocate

TUESDAY, SEPTEMBER 30. STARR-BOWKETT SOCIETY.

Dannevirke Advocate OLDEST ESTABLISHED PAPER AND guaranteed lakgkst* circulation in'the district.

■ c ♦— In a previous issue we pointed out the many advantages to be derived by the formation of a Starr-Bowkett Society in Dannevirke, and it is satisfactory to* learn that an effort is about to be made to give effect to our suggestion. A local business man has been in communication with a Society in another town and has obtained some useful information which will be placed before a meeting to be held this week. The principle of a Starr-Bowkett Society, as we previously stated, is mutual aid. It is worked on co-operative lines, and is essentially a working man's Society. The custom is for members to contribute at the rate of one shilling per share per week, and when the funds have reached a given sum, an allottment by ballot is made. The amount. the successful shareholder can draw is in proportion to the number of shares he holds, and the money is lent by the Society free of interest. A Society of this kind can be worked on very economical lines, and we know of no other system whereby working men can obtain properties under such favourable conditions. Some, four years ago a Starr-Bbwkett Society was formed in Palmerston North. The annual balance sheet of that Society, which" has just been prepared, shows that the past year's transactions have resulted in a credit balance of £154 ss. The net profits for the four years' working amount to £696 17s 3d, being at the rate of £1 3s 3d per share. The shares allotted total 600, which is the registered limit of the Society. The amount appropriated during the past year was £2,300, making a grand total to date of £6,800 advanced to shareholders. When the Society was first formed it obtained a limited amount of support, but when the public recognised its advantages no difficulty was experienced in allotting i shares. Those who are endeavouring to form a Society of this kind in Dannevirke are taking a step in the right direction. There is sufficient population to support the institution, and if inaugurated it should prove a success.