COMMERCIAL.
A special meeting of the Mutual Help Terminating Building Society was held in the Crffftte" Pdlace on Friday night to ballot for a free Uan of £500, and to con-'ider an amendment of the rules to enable new members to take up shares without paying up arrears in subscriptions. After discussioi- a resolution was unanimously carried amending rule 16 and providing that any person may join the society and take up shaies at any time by paying future subscriptions on tbesbares taken up, and may pay up the back subscriptions 1 on' tli c share 3 either by weekly laments or 'in one sum within a week after drawing it^oan. It is expected that this alteration of the ru'lts will result in a great increase of membership, as members can-now join on very favourable "terms Present members of the society may also take up further i-hares under this amended- mle. 'the free loan was balloted for in due course," and duly allotted to Ithe successful members. It is a remarkable fact that a member whose tubscriptions were in arrear drew a free loan of £300. This member returned his pass book to the secretary without paying up only a few hours before the ballot, and so lost his chance. This is the only one who has to far returned his pass book to the society. .
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Bibliographic details
Otago Witness, Issue 2284, 9 December 1897, Page 26
Word Count
226COMMERCIAL. Otago Witness, Issue 2284, 9 December 1897, Page 26
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