NEW BUILBING SOCIETY.
A vigorous canvass is being made throughout New Plymouth at the pre-sent-time i i connection with the StarBowkett pj stem of bu ld in tocinties. The succ.ss attending tlio e institutions of the kind th it have lately ben inauguiated in different towns in this cdony has been so proneuaced as to arrest the attention of tbe investing public all over New Zealand.
As a conw-quence the principles if the system have been very widely die--Betninat d, and it will be sufficient here to say that, as affording each member a certain means within a given period of obtaining a loan of a considarabl i sum of money free of interest for an [extraordinarily low weekly subscription for membership, it offers advantages that are decidedly unique. Having regard to the fact that every member must become asucce.'sful balloter wi'fain a certain defined period it is not strictly speaking a lottery, as in the latter the clement of uncertainty is never e'iminated. Again, a msmber who is late in obtaining a loin is com petsatfd to s :me ex'eut for his inisi'ortuseioso far that tbe amount of subscriptions he has paid prior to winning goes to reduce the amoun 1 -. of the sum which he has to piy back. A funher privilege which a member of one of these societies enjoys is that in the tvent of his noi b ing desirous of investing an appropriation when ob tained be can sell his right by auction to another member, wl-o whil t bene fltinga brother shareholder (the mm given av-rages £3O for £l5O for its use over a term of yean is a 'he eame time beiefi ing himself, as be gets tb of a sum of money at a phenomenally low i ate of in'e-e^t.
Tbe membership of the local society | is rjpidly increasing, and no doubt the 1 first balloting, which will probably b performed by somo laly membescUcted by directots, will causes deal of excitement, and owing to th* peculiar principles of tbe system the intervals between ballots are decreasing as time goes oa,
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Bibliographic details
Taranaki Daily News, Volume XXIII, Issue 158, 27 July 1901, Page 2
Word Count
349NEW BUILBING SOCIETY. Taranaki Daily News, Volume XXIII, Issue 158, 27 July 1901, Page 2
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