They receive an Annual Bonus from the They are entitled, at the closing of the They may withdraw their subscriptions As an INVESTMENT, therefore, "The Mutual Society" is much more advantageous than Savings' Banks, paying, as it does, interest at Three per cent., in addition to Tontine Bonuses, the right of receiving advances, and other advantages. Its superiority over BUILDING SOCIETIES is likewise apparent. In these latter, the advances are made repayable in ten or twelve years, and the only securities accepted are houses or land. In "The Mutual Society," however, the term of repayment is twenty years, and any kind of approved security may be accepted by the Directors, with the exception of Personal Bonds, Bills of Exchange, and Promissory Notes. As a means of providing ENDOWMENTS for children, or for old age, the Bonus-class of "The Mutual Society" is admirably adapted, owing to the operation of the Tontine system of dividing profits. If the Nominee survive the closing of the Fund, the Member or his representative receives a large dividend for many years; while, should he die previously, the whole of the subscriptions are returned. Finally, "The Mutual Society," founded as it is upon the well-proved principle of cooperation, cannot fail to afford to individual energy and prudence all the aid and facilities which, hitherto, have been enjoyed solely by Joint-Stock Companies in their corporate capacity. On the one hand, it supplies the active and enterprising with the Capital necessary for employing their abilities to the best advantage; and on the other, it provides the provident and foreseeing with an organisation for the Fructification of Savings, by which the utmost possible results may be attained. RICHARD A. HANDCOCK, Secretary. |