Page 4 Advertisements Column 5

Wanganui Chronicle, Volume XXI, Issue 4045, 20 May 1879, Page 4

ER O 8 P E O T U ¥ o:e the WANGANUI LOAN AND INVESTMENT SOCIETY. CAPITAL '£S(&JOb, in 5000 Shares of £10 Each. Peovision at. Directory. Mr F. R. Jackaoa Dr R. C. Earla Mr J. P. Watt Mr W. D. Shaw Mr Peter Bell Mr G. Beaven Mr C. H. Borlase Mr John Notman Mr H. Hurley Mr J. G. Shirpe Mr Donald Ross Mr J. C. Brephtn. Mr C. H. Aahforth (Manager.) ~~~ Society's Office, Rutland Chambers. The history of Building Socjeties in Wanganui is a record of success, beneficial alike to borrowers and investors. They have enabled many to obtain by a graduated and easy scale of payments a freehold property, and have provided others with a safe- and profitable method of investment, i Terminable Societies, however, ns their name indicates, soon run iheir course, and it became necessary in ord^r to cope; with Jihe eyer incrfeAsing demand for building operations t<o inaugurate new Companies On the terminable system in; this district two Societies have been cp,ixcluded, leaving three in actual operation, one of these, however, will be wound up in a few months, so that practically there are only two transacting the ordinary business of a Buildjpg Society. : ' The experience of the past years has shown that the timo has now arrived when another Society on the termin. able principle can be established with a certain 'prospect of success. With a conscientious belief that the Wanganui Loan and Investment Society will meet a growing demand, and at once enter upon a .p.oofijtable business, the Provisional Directors place the same before the public. It i's proposed to" make an important alteration in the amount of Shares and scales ot payments, and in thus departing from the usual plan adopted, the Directprs .w^uld point out the advantages gained thereby. By placing the value of the Shares at £10, and the monthly calls at' 2s per Share, it is estimated that the Society will be enabled to terminate in six years from the date of commencement. Ab an example of the working of the proposed Society, the following figures are given : — A borrower to the extent of, £100 would repay at the rate of £1 16s 8d per month for the six years, so that at the close of the operations he will have; paid in £132. This scale will be found to favourably compare with any similar institution in the Colony. The ; advantage of being a Shareholder in a Building Society cannot well be estimated. It possesses all. the benefit of a Savings Bank, with etter interest, and it enables a member to take advantage of any eligible opportunity arising for the acquirement of real estate. As a proof of the extent to which the terminable system has been used in this district, it is pointed out that in three existing Societies upwards of £60,000 has been borrowed on freehold and approved leasehold properties. This Society will be established under the " Building Societies Act, 1876." By the provisions of this Act the usual competition for money is abolished. The operations of the new Society will not be solely confined to Wanganui, but will be extended among the established townships on this coast as opportunities occur for safe investments. The entrance has been fixed at two ; shillings and sixpence for the first Bhare and 1b for each additional successive share. Form of application is attached which Bhould be filled in and returned I as 'quickly as possible, as it is proposed to commence operations in the month of April. Deposits on application can be paid to the Branches of the Bank of New South Wales at Bulls, Feilding, Carlyle, and Hawera, and at the stores o Mr F. Beaven at Marton, .and Mf D. M. Hogg at Waverley, NEW FANCY BAZAAR. MONTAGUE & CO, of Auckland and Christchurch, hare much pleasure in announcing to the inhabitants of Wanganui . and surrounding districts that having' secured those eligible premises Bituate in the Avenue, recently erected by Meßßrs Pollock and Toung, they will open a branch establishment on or about SATURDAY, THE 26th INST., With a Large and Varied Stock of GENERAL FANCY GOODS, Consisting of Gold and Silver Watches, Chains, Jewellery of every description, Clocks, Cabinetware, Vases, Ornaments, Dolls, Toys, Wools, Fancy Work of every description, Musical Instruments, Electro-plated Goods, Pictures, &c, &c, which will be offered to the public at the lowest possible remunerative prices. The large amount of success which has attended Messrs Montague and Cob establishments both in Auckland^ and ChristchurcV justify them in the belief that they will by opening one of their well known branches in Wanganui supply a long-felt need, and will meet with a similar amount of success Note the Address— MONTAGUE AND COS FANCY BAZAAB, VICTOBIA AVENUE, (Next W. D. Shaw's).