Page 4 Advertisements Column 5

Wanganui Chronicle, Volume XXI, Issue 4046, 21 May 1879, Page 4

PROSPECTUS OF THE WANGANUI LOAN AND INVESTMENT SOCIETY. CAPITAL £50,000, in 5000 Shares of £10 Each. Provisional Directory. Mr F. R f Jackßon Dr R. C. Earle Mr J. P.; Watt ; Mr W. D. Shaw Mr Peter Bell ' Mr G. Beaven Mr O. H. Borlase Mr John Notman Mr R. Hurley Mr J. G." Sfrt'rpe Mr Donald Ross Mr J. C. Brechin Mr C. H. Ashforth (Manager.) Society's Office, Rutland Chambers. The history of Building Societies in Wanganui is a record of success, beneficial alike to borrowers aud 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 meth )d of investment. Terminable Societies, however, is their name indicates, soon run their course, and it became necessary iv order to cope with the ever increasing demand for building operations to inaugurate new Companies. On the terminable system irt this district two Societies have been cofl* eluded, 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 Building Society. The experience of the past yeara has shown that the time has now arrived when another Society on the terminable principle can be established with I a certai_ r prospect of success. With a conscientious belief that the Wanganui j Loan and * Investmeut Society will meet a growing denlaiid, and at once .enter upon a poofitable busineas, the Provisidrial Directors place the same before the public. It is proposed tor make an important alteration in the amount of Shares and scales of payments, and in thus departing from the usual plan adopted, the Directors would 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. As 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 beon . 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 thisiAct the usual competition for money is abolished. The operations of the new Society will not be solely confined to Wanga. nui, 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 share and ls for each additional successive share. Form of application is attached which should be filled in and returned 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, have much pleasure in announcing tb the inhabitants of Wanganui and surrounding districts that having secured those eligible premises situate in the Avenue, recently erected by Messrs Pollock and Young, 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 Co's establishments both in Auckland and Christchurch 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 — MONTAGUK AND COS FANCY 1 BAZAAR, VICTORIA AVENUE, (NexfcW. D.Shaw's).