LAND ASSOCIATIONS.

New Zealander, Volume XIV, Issue 1284, 7 August 1858, Page 1 (Supplement)

LAND ASSOCIATIONS.

To the Editor of the New Zealander. Sir, —I have just received a letter from the North, from a gentleman personally unknown to me, who writes ns follows ; —** i see by the AY to Zealander, that you arc about to start a No. 4 Land Association. 1 have long wished tojoin something ol the kind, but am quiie ignorant of how it is managed—or how to go about it. —will you be so good as to acquaint me how 1 must proceed, —what arc the payments Ac. — I have, &c.,—11. G,”

One of the chief desiderata for the No. 4 Association is that parties at a distance will now avail themselves of the advantages ol Association lor the pur poses (or which these Societies are established, which have been reaped by so many in Auckland, —it is therefore mv wish to diffuse the information sought for by’diy correspondent as widely as possible. You have always shown yourself ready to promote the extension of these Associations, — I therefore trust you will do me the favor to insert the following precis of the objects and management for the information o( others at your subscribers and friends who may be interested in the matter. Owners.—The objects of these Societies are to enable members by a small weekly subscription—to purchase freehold laud,—to pay off mortgage debts or incumbrances,—or to build on or otherwise improve any freehold property they may possess, Management. — By Officers elected by the members themselves. llouu ok Payment. —The shares are £’2o shares, and payable in two shillings per week on each share,—any member may hold as many as he chooses, say ten shares—which represent £2OO worth—this would he payable £1 per week, (or for any greater or less number two shillings per week each)—these payments accumulate according to the number of members. In '• No. 3,” the average weekly receipts about £SO. Every month the Committee meets —members are invited to attend to inspect the drawing,—two members are appointed by the meeting to draw, —(so that the absence of members who cannot conveniently attend sloes not affect their interest.) The shareholder whose name is drawn with* the prize is entitled to the amount of his shares, from £2O to £'4oo or £'(Jot) as he may hold, —this for the purpose set out in the “ Objects of the Aseociation:” —he then continues to pay off his 2s per week, on each share until he has paid off. Interest —The payments in bear interest to the individual members on each £2 Uls. paid on each share at 8 per cent.—the payments out to members bear interest Irom the members to the Society at the same rate. So tba the member drawing early the Association acts as a Doan bund, and to those drawing late as a .Saving's Bank. Payments —The payments of subscriptions are not allowed to go more than four weeks in arrear, else a tine is incurred, and the member is not drawn until he makes it good.— This appears the only difficulty in parties in the country availing themselves of the benefits of these Associations—they can be surmounted by keeping the shares good in the honks by advance payments—or by getting friends or instructing agents to attend to them. Expenses of Management.— These are found to be paid by the profit on interest (during the accumulation t.f lire £2 10s. on each share,) fines Arc., — and in “ No. 2,” a profit of !)s. per share was paid,—without any call upon the members for expense funds. The Societies are brought under the security afforded by the Building and Land Societies Ordinance, Session 11, No. 11, by their rules being revised by the officer appointed for that purpose by the Government, and filed in accordance with that law. Any further information, as (aras I am able to do so, 1 shall have pleasure in riffouling to any who may apply to me for it by letter or otherwise, 1 am. Sir, Your obedient servant, Albert \V. Hansard. 11LTURNS showing the amounts drawn by Shareholders in the Auckland Land Association No. •'!, Irotn its commencement 2Bn I May, IS :"> 7, to June, 1858, —with the date of drawing—the numbers of the Shares—and (he number of Shares held by each member drawing.

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4

Amounts.

28lh June, 18.37 48 to 47 P £ in* 0 d. 0 Tilth June, 18.37 2 15 1 gO 0 0 ‘Tilth June, 18.37 313) to (108 • 100 0 u 28th June, 1857 4 to 18 in gU) 0 0 -7th July, Ktr, 7 22.3 to 22!) 3 )00 0 0 -'7th July, I8.-.7 l-.il to 1 2.3 r } 11.0 0 0 31st August. li;.-)7 544 to 548 5 h 0 0 0 Jlst Augu.-t, 18,37 500 to 57H lo g< :» 0 0 28th Sept., 11!.-,7 104 to 100 ;• OO 0 0 28th Sept, I1U7 372 to 373 2 40 0 0 Tilth Sept., 1857 17<» to 17-1 r, 100 0 0 •Tilth Sept., 11137 ;VJ I to 5im 5 loo 0 0 Ihih October, 111,37 404 to 47.i 10 200 0 0 •'-■»th ,\ov„ l( S; 3 7 (J7: 1 to (J«i 10 L>00 0 0 ■’•‘•th Nov., Ih.37 o2 ( J to 5X1 loo 0 0 ; l"lh Nov., 1(137 73 to U7 III gOO 0 0 28th Dec., 1837 .827 to 3411 2li 400 0 0 Keb., 11(38 8117 to 171 3, loo 0 0 I'Jnd Keb., 1838 ti l to (i? r f loo 0 0 28th March 18.38 040 to G50 1 O goo 0 0 ■ 8th March 1858 120 to 1.0 1 10 goo 0 0 -‘hh April, 1(138 <Jll> to O’.O 1 2o 41 to 0 0 :ilst May, 1838 17*5 to Ui\ 10 l gl MI 0 0 28th June, 1838 go 0 0 •8lh June, ] 115U 400 10 45)1 :i 00 0 0 28th June, 1838 USD to 1(!J hi goo 0 0 -i Ihf) to Knl :{ 1 C t 0 0 41 to 42 1 0 40 0 0 178 lo?74—Ctt) to 1 liiiO I 3 loo 0 0 .C4IIIHI II 0