Local Intelligence.

Hawke's Bay Herald, Volume 2, Issue 95, 16 July 1859, Page 2

Local Intelligence.

Napiee Building Society. — At a. general meet* • ing of Subscribers pf the above 'Society, heW on

Saturday evening last, the following report upon the rules. for the conduct of. the Society, was brought" up by ''the Chairman of Committee, Mr. r £i D. Triphook :— lt devolves upon me as Chairman of your Committee, to bring our proposed rules before you this evening to receive your confirmation or such emendation us may in your opinion be required. The rules which will be laid before you will, I trust, sufficiently indicate that this proceeding is necessary, in order that a beginning, to be carried out systematically, should be made in such a manner that the utmost publicity (which in matters of this nature is imperatively required to inspire confidence and support) should be afforded ; — that the shareholders might see each successive step hi the process of the formation of a code of rules which shall be sufficient for every contingency, and yet as concise as the contingencies will permit. Your committee having hitherto adopted the regulations of the Wellington Building Society for their guidance, and having read ana discussed the merits of those rules, clause by clause —having been, satisfied by the success of their working in Wellington, and having had but little professional aid or experience in framing regulations which involve legal technicalities, which for the protection of the Society and its shareholders, cannot be dispensed with, have recommended their ; adoption by this meeting with a few amendments of hours, dates, names, and places, together with additional clauses respecting the Treasurer and Insurance, which shall be duly laid before you. I have also to state, that the committee, having been uuable to procuro more than a single copy of the rules of the ■ Wellington Building Society, have decided to appeal to this meeting, whether it will be pleased to have tho entire of the rules read clause by clause, and thereupon discussed, or whether the meeting will accept the reading of the various emendations of the Wellington Building Society. The committee are in favor of the latter arrangement, inasmuch as the beneficial working of that Society is acknowledged, and from the fact of their having given the rules their serious attention and approval, and further, because the rules of the Society No. 1 have been adopted by Society No. 2, — at the samo time tile committee desire that if this meeting so require, the reading and discussing of the whole of the rules shall take place ; and for my own part I trust that not only will the shareholders of the Building Society in this intance, but the inhabitants and electors of Napier, in every case, reject all measures, Political, Ecclesiastical, Educational, or Financial, together with their promoters, when such measures are not brought to the touchstone of public opinion, at bonajida public meetings, or thro' the medium of the press. I. have to congratulate the shareholders on the very successful commencement of the Society ; many members having joined even before you ratify the proceedings of tue Committee, is a flattering proof of the confidence reposed in its members by their fellow shareholders. We have much to hope for in the establishment of such a Society : it will I feel confident be the means of securing to its members a provision for the settlement of themselves and their families, which has been denied them elsewhere : it does not profess to aid the capitalist who is abore its . pretension 3, who can go to the bank and deposit his mon.iy, or invest it in land speculation or trads, but to the working man whose monthly deposit would not be received either at bank or land olfii.'i), and wliich is too trifling to be invested in trade ; it acts as a savings bank and insurance otiico, where he is certain in ten years, or less if tho aoeioty prosper, to insure a payment of £100 per share at an imperceptible cost which otherwise might be spent uupvofitably, it moreover tends to excite a fueling of common interest- and combination in our Now Province. And the day is nst distant wheu that New Province will not only take its stand, but the lead among the provinces of New Zealand. When its vast land revenue is expended in self-im provement, what seemed a year ago of little worth, will be eagerly contended for by the influx of population, and sure am I that no one will have to regret having invested their savings (not their capital) in the first Building Society of Napier. — The several amendments having been read and confirmed, the rulea were ordered forthwith to be printed. A PItOVINCIAL GrOVEKNMEIsT GrAZETTE, published on Monday, contains the return of land, revenue for last month, — schedules of tenders accepted and rejected, — and a notice by the Auditor respecting payments by the Government. We reprint the contents in an extra sheet. Beead, as will be seen from advertisement, has been advanced in price to Bd. 2Hi loaf. The cause of this is the rise in flour consequent upon the news from Chili. In Auckland, flour is now quoted at £27, and bread at 7d. Rujioitkeb Discoveet op Gold. — A native named Kemp, usually residing at.sHapuku's pah, but who has jus 4 ; returned from the West Coast, has, we understand, been exhibiting six specimens of virgin gold which he alleges to have been found by him. The largest of the six weighs down two sovereigns, and \\m smallest haif a sovereign. The locality in which the discovery was made is not known, but it is believed to be on the West Coast.