The Building Society.
. * Sm,— Kindly permit me to correct a statement I am reported to have made at the meeting of the shareholders of the Gisborne Building Society. You stated that the fixed deposits would be paid when the Society is in a position to do so. I think this statement convoys a wrong impression ; in fact, it infers that the Society is not able to meet its payments, whereas such is not the case. The whole amount on fixed deposit is LB6l 14s 4d and accrued interest L4l lßs. To meet the above the Society has now to credit in the Bank over L9OO, so that if all the fixed deposits were due now, they could be paid. I think what I did say was that as the fixed deposits came due. they would be paid out, as the Directors have determined to pay all fixed deposit holders out as the sums fall due. — I am, <&c, J. Townley.
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https://paperspast.natlib.govt.nz/newspapers/PBH18910815.2.12
Bibliographic details
Poverty Bay Herald, Volume XVIII, Issue 6143, 15 August 1891, Page 2
Word Count
160The Building Society. Poverty Bay Herald, Volume XVIII, Issue 6143, 15 August 1891, Page 2
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