Extract from the Age newspaper
October 17, 1854
Headed under "Miscellaneous"
"PROSPECTUS - of the Union Freehold Land Society of Australia.
President: Henry Miller Esq, M.L.C.
Vice-President: William Workman, Esq.,
Treasurer: James Mayne Esq.,
Trustees: John Hodgson, Esq., M.L.C.
Mayor: W.B. Burnley, Esq.,., M.L.C.:
E. Cotton, Esq.,
Walter Adamson, Esq.,
F.G. Moore, Esq.,
A.M. Caldecott, Esq.,
W.H. Taylor, Esq.,
R. McNiece, Esq,.
G.H.F. Webb Esq.,
Wm. McFarlan Esq.,
E.J. Wilson Esq.,
J.S. Woolcott Esq.,
Solicitor: J.M. Grant Esq.,
Secretary: Mr. A. R. Minzies (sic)
"The advantages to be gained by the co-operation have been fully established by the success which has , in almost every instance, attended the formation of Friendly Societies.
In no case, however, has it been found to work with the greater profit to the members, than in Freehold Land Societies; and instances can be adduced where Allottees of Land, obtained through the medium of Societies already in existence in this colony, have realized as much as 250 per cent, on the amount actually paid.
The chief object of this Society is the purchase of Freehold Estates of considerable extent, which, being divided into allotments, are divided amongst its members at cost price.
Each member may subscribe for several shares, either together or separately, and the frequency of the purchases will enable the members to choose the localities most suitable to themselves.
The allotments will be made at very short intervals, so as to insure to the earlier subscribers the full advantage of their priority, and the order of distribution will be determined by lot.
Those who are prepared to pay for the land at the time of distribution, may of course do so, with a small per centage for expenses ; but an option will be given to such as prefer it, to continue the monthly payments until their allotments are paid for.
To the clerk, the mechanic, the artizan, this Association offers the following advantages, (among others):-
1st, A safe and easy means of becoming possessed of land at cost price, thus combining the double advantage of a Saving's bank, and a profitable investment.
2nd. - A guarantee from any responsibility, beyond the payments of subscriptions as they become due.
3rd. - An economic system of management.
The Association will be under the management of not less than nine Directors, appointed from time to time from the general body of Shareholders.
Its funds will be invested in the names on Trustees, and no money can be withdrawn from the Bank without a cheque signed by two Trustees at least, and countersigned by the Secretary.
The Society will be conducted, as nearly as possible on the same plan as that of the "National Freehold Land Society", of London.
Office: - Fiske's Building, 97, Swanson Street"
REF: email to AUSTRALIA-L@rootsweb.com by Lee Power on 8 May 1998
"The original source is the first Age Newspaper in Victoria - but as the document is rather fragile, I will not be accessing it for individual lookups - thought instead I would transcribe all I could onto the net for all to read."
source the Age Newspaper of Tuesday Oct 17,1854