BUILDING SOCIETY.

Oamaru Mail, Volume XXXVIII, Issue 10517, 27 July 1910, Page 4

BUILDING SOCIETY.

The first general meeting of share-holders-of the Oamaru Starr-Bowkett Building Society was held last night in the Oddfellows' Hall. Mr C. Mac Gibbon, chairman of directors, presided over an attendance of over 70 people. In opening the meeting the chairman explained that it was not necessary to call a meeting, as the Act provided that any seven persons could form a building society. They thought it better, however, to call a general meeting to confirm what had previously been done. The speaker urged members to endeavor to induce others to join, as the larger the share list the greater were the benefits to the shareholders, as the appropriations were made more frequently. The society aimed at issuing 1000 shares, and already some 670 had been applied for by some 230 persons. He pointed out that it would be to the advantage of all to join at once, as that precluded the necessity of making up arrears in the matter of subscriptions. The meeting confirmed the election of the following seven gentlemen as directors: Messrs W. H. Patersonj C W Kent J. B. Grave, J. E. Hood, W. Strachan, R. Monson, and C. Macgibbon; also the appointment of Messrs C. W. Cooke and A. A. M'Kinnoii as auditors, Mr P. C. Hjorring as solicitor, and Mr E. Piper as secretary. It was decided that the first pay be taken on the sth September in some hall which will be notified by advertisement.

A hearty vote of thanks was accorded the directors for the work they had done in launching the society. The shares will be put in clusters of five, and families who hold, say, five shares amongst them may instruct the secretary to place them in ono cluster or otherwise as they think fit.