The Pamphlet Collection of Sir Robert Stout: Volume 16
Standard Property Investment Society
Standard Property Investment Society,
(Established March, 1807.)
Registered under the "Building and Land Societies' Act, 1866."
Office-Bearers:
Trustees—
- Thomas Dick Esquire
- George Turnbull, Esquire
- W. H. Reynolds, Esquire
Directors—
- Thomas Dick, Esquire (President.)
- Messrs. J. F. Watson
- Thos. Birch
- W. H. Reynolds
- Messrs. Benjamin Bagley
- Daniel Campbell
- A. R. Livingston
Bankers—
- Union Bank of Australia.
Surveyor and Valuator—
- Mr. William Langlands.
Solicitor—
- Henry Howorth, Esquire.
Secretary—
- Charles Reid.
Offices: Princes Street, Next Bank of Otago.
Entrance Fee, 2s. 6d. per Share; Transfer Fee, 6d. per Share.
The shares of this society will he of the ultimate value of £25, to be realised by Monthly Subscriptions of 4s. per Share, and interest thereon at the rate of ten per cent, per annum, to be accumulated till the Shares are fully realised (about seven years.)
- Economy in Management.
- Encouragement to Borrowers.
- Safe and Profitable Investment of Savings.
- Periodical Division of Profits.
The Rules will be found to have been carefully compiled on the bases of similar Societies in the Home country (so far as applicable to the colony.)
The mode of taking securities for Advances to Members, while effectually securing the Society against the possibility of loss, is such as to entail the least possible expense to Borrowers. And provision has been made to enable Investors to borrow money on security of Shares of not less than two years standing.
Discount at the rate of 5 per cent, per annum will be allowed on payments made in advance for periods of not less than six months. Any Shareholder withdrawing is entitled to receive the full amount of Subscriptions and Profits standing to his credit in the books of the Society, on payment of 5s. per Share withdrawal fee.
page 6Shares may be taken up at any time. Subscriptions to commence from date of entry; and the owners of realised Shares will be paid out in rotation, according to the dates of their respective entries.
This Society has now been established for the space of three years, during which time 2666 Shares have been taken up; and substantial securities for advances have been accepted to the extent of £19,892 10s.