Page 1 Advertisements Column 7

Taranaki Herald, Volume XXIV, Issue 2416, 3 June 1876, Page 1

PROSPECTUS OP THE NEW PLYMOUTH INVESTMENT AND LOAN SOCIETY (Permanent). TRUSTEES: His Honor F. A. Carrington, Esq., M.H.R., W. M. Crotnpton, Esq., i<\ L. Webster, Esq. DIRECTORS : Captain Skeet, Cliairmnn. Messrs. W. Bayly, M. L>. King, J. B.Lawson, E. Vealo, W. D. Webster, H. Weston. SOLICITOR: B. C. Hnghes, Esq. BANKERS : National Bank of New Ztaland. SECRETARY AND TREASURER » Clarence Rennell. Office, Bronghatn-atreat. rp HE members of the Society aro of two JL kinds, vie., Investing Members and Borrowing Members. The subscription for a terminating shiiro is Is. per week, and this amount, with the profits added, annually ac cumulates till it reaches the sum of £25, when tbeflhore is realised. The Society also receives money on deposit, for whioh the following rates of interest will be giveu :—: — 3 months ... 6 per cent, per annum 6 months ... 7 per cent, per annum 12 months ... 8 per cent, per annum To BorrowingjMombors, money is lent on the following scale fro4n 1 to 12 years, repay* able by weekly, monthly, quarterly, or yenrtypayments, which include principal and interest— say, on £100. Period of Weekly. Monthly. Quarter]/. Loan. £ s. d. £ 8 . d. £ s. d. 5 years 0 10 6 220 6 16 6 7 years 088 113 0 573 10 years 066 160 446 12 years 059 130 3 14 9 Shares dato from any subscription night, and the profits nre placed ntmnally to tbe credit of investing shareholders to tin exieut not excocding 10 per cent, per annum on I he amount then standing to their credit in the books of the Society, except subscriptions paid in advance. Any surplus profits are to bo carried io an account, to bo called tho " Reserve Fund," from which shall be defrayed all losses or expenses which the Society may sustain or incur, and ihe accumulation of such Reserve Fund shall be credited equitably nod equally at tho expiry of every five years from tho commencement of the Society, between the investing and borrowing members, by way of bonus. Borrowing Members can redeem their pro* perly from a mortgage to the Sociwiy upon favourable terms, before the oxpiration of tbo full lime for whioh it was giveu, in accordance with tho rules. Arrangements have been made bj whioh the law costs will be reduced to a minimum. The following are some of the advantages which mny bo derived from joining the Society :— Ist. Provision for old ugo may be secured by a person joining this Society nB an investor. 2nd. Hoobi'S can be purchased instead of bi-iug hired by an inconsiderable increase of annual outiny. 3rd. Leaseholder* and others desirous of providing (or the renewal of thoir lenses ran do so by joining this Bocioty as investors, and subscribing for riicli a number of shares ns will meet llio ninount desired. This obviously would be to tunny an easy mode oi providing for *hs,t is now often full lo be. a difficult and nuxioDß fhargc. 4th. Provision for pluoiug boys ns np. prentices and articled clerks to solicitors, ungii.ct.Tß, &c, or for the Completion of chtldteii's education, can be obtained in a gitnilar way. olh. Benevolent institutions und religious soeio'ifs enn procure fui ds for the erection ol churches, schools, par. Boi-.ages, Ac, nud (or the immediate pu)ing ofi'of debts, and the amount borrowed can subsequently be repaid by charitable contributions periodically collected. In many cases the amount of repay meut would be little in excess of the rent ot the house purchased. Take, fur example, a mem* ber being iii possession of n section of lutul and wiahing to borrow £300 on the 12 years' term to assist him in tha building of a houße worth that sum, for the equivalent of which he had been pieviously 15s. a week rent, or £3Ut» year. Ho would hnve paid iv runt in 12 years £4GB, wherms by borrowing tho money from this society for twelve years he would puy £44 17». n yrar, or £538 4r. or only 2b. 3d. per week more than ho paid us runt, or £70 4c over nnd above whnl he would have pnid his landlord had ho remained a tenant for 12 vents, whereas the housu would become his o« v, rent (rue, at the expiration of the term. Had he not become a member of the Society he would have paid £4CB bb rent, and tho properly woold Btiil belong lo his lundlord. Again, lake for example a person borrowing £300 for twoUe years, as above stated, ho would have repaid in that limo £538 4*. Had ho borrowed in the ordinary nay at 10 per cent per annum, the rorult would be — Money borrowed £300 0 0 1 12 years interest. | at 10 per cent £3GO 0 0 1 ' £CCO 0 0 ! Or a saving in favour of the Society of £121 16 0 Results such as ll.eso mast be interesting and well worth the consideration of the inhabitants of New Plymouth nud the surround* ing districts. Applications for shares can be made to tho Secretary, and attendance will bu giveu every Suturday at tho Si<cretnr>'6 office, Brookitig's Buildings, Broughain-striot, Iroui noon to t p.m. nnd 7 |'. '». to 8 |>.n>. U. RENNELL, 341 lo Sst'errtnry. PIANOS!! PIANOS!! PIANOS!!! frJ'^i T)IAN()S by koown makers to Jfcg^j^X WALNUT CASES — TiiflrySJlWi <-'"ord. '.•luck action, full comBGO to C. RENNELu. R. McGONAGLE, CONTRACTOR A-S.D BUILDER Dkvo^ SV^**, NEW PhX Jt O.U T 11.