BUILDING SOCIETIES' METHODS
♦ NEW ZEALANDER'S STUDY ABROAD (PRESS ASSOCIATION TELEGRAM.) WELLINGTON, December 29. A study of methods of building societies in other countries was made by Mr A. S. Froggatt. president of the Southland Building Society, who has returned after a nine months* tour of America, England, and the Continent. Mr Froggatt found no building society exactly like the Southland Building Society, where borrowers participated in the prOfits. Building societies in England paid interest. either on deposit or on shares, at 3 per cent., plus income tax, he saidInvestors and borrowers in the Southland Building Society were paid the same rate of interest whatever the profits.
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Press, Volume LXXII, Issue 21978, 30 December 1936, Page 5
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106BUILDING SOCIETIES' METHODS Press, Volume LXXII, Issue 21978, 30 December 1936, Page 5
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