WANGANUI ECONOMIC BUILDING SOCIETY.

Wanganui Chronicle, 24 August 1901, Page 2

WANGANUI ECONOMIC BUILDING SOCIETY.

SECOND ISSUE OF SHARES.

After five years' successful working, the directors of the above Society decided to offer'a second issue of 1000 shares for subscription by the public, and a. prospectus of the' new shares is sent out as an inset with this issue. The directors of the No. 1 Society Were unanimous in deciding to act as provisional directors of the new issue, in which they have all subscribed for the maximum number of s'uares. On the incorporation of the No. 2 issue, however, the election of a permanent Board will be entirely in the hands of the members nnd will take place at the first general meeting. It Will .be ' obvious * that the Economic Society is very favourably situated with regard" to a new issue of shares, both on the grounds of experience, economy of working," and management. A special feataro of the Society is the absolute equality of all its members with regard ! to the Society's benefits, which are ■ equal to all members < irrespective of their means or occupation." The Economic No. 1 Society can look back on the past five years' working with satisfaction. In addition to assisting many of its members to acquire homes of their own, it has a credit of close on £1700 to its profit and loss: account, and this ju additibn to tjiie direct benefits which.'1 have been obtained by many of the members by means of the ballots. There is no doubt that the No. 2 issue comes out under very favourable auspices, and as a large number of applications for shares have already been received, its success is practically assured.