CHRISTCHURCH STARR-BOWKETT BUILDING SOCIETY.

NZ Truth, Issue 1017, 23 May 1925, Page 16

CHRISTCHURCH STARR-BOWKETT BUILDING SOCIETY.

sth Annual Report and Balance Sheet,

Only Two Groups m Five Years,

i The name of the above society sufficiently describes its constitution and methods of business. "Cambist" has never seen its, article's or rules, and for that reason he is unable to say anything about its methods of business. The society is only five years old, and it has only two groups fully at work m five years. The City of the Plains is an ideal spot for Home makers, and it strikes this . candid writer as something remarka.ble that this good-looking- society has only managed to get two groups going. One. thing, however, gives him considerable pleasure, and that is that the society makes its appropriation, by ballot or by tender of a sum of £1000 each. "Cambist" is disgusted with all societies which work on INADEQUATE ADVANCES TO HOME BUILDERS. Therfe are some- very large, societies on the same basis as this one. whose largest appropriation or ballot is £400. The latter sum is utterly useless m the purchase of a decent middle class house m any part of the Doniinion, and once again he pats on the back this society, a 1 gentle touch of appreciation. There need not be a detailed investigation of the accounts offered by the society, but it is pertinent to remark that the society has advanced m Group No.-. 1 £ 50, 543, and its advances m Group No. 2 amount to £37,232. Adding these together, the sum is £117, 777. r The latter amount betokens the sums outstanding at the close of five years, and m this connection Group No. 1 has received repayments amounting to £19,530; Group No. 2, which is not so old, shows that £5376 has been repaid. Adding repayments to the present advances, we find that £142,683 is about the gross amount advanced to worthy home builders by this society. It' is a very gratifying fact that, even / with two groups, so much. money has been lise'd, to place people, into possession of happy homes. The society provides schedules, showing the members' numbers, and the amount of credit to each, and by this means the subscribers are enabled to check their pass books, and to be sure that the society, is

PROPERLY - ACCOUNTING FOR the moneys they, have invested. This is an excellent idea, and it should enable members to feel themselves not only assured as to the safety of their funds, but also of their close association with a; very worthy undertaking) promoted for their individual benefit. "Cambist" hopes the society will wake up a bit', and start some propaganda that will develop greater longings for the ownership of homes, and encourage humble though worthy attempts on the part of small -investors-.- now .walking m the paths of peace and thrift.