BUILDING SOCIETY INTEREST.
There are beginning to be signs that with the fall in the rate of interest obtainable on ordinary bank deposits, the handsome rates paid by the Building Societies are attracting at least as much money as the societies can employ without departing from their high standards of security, and one of the largest— the Abbey Road Building Society, whose assets, under the able management of Mr. Harold Denman, have attained to a total of nearly £26,000,000—has announced a slight modifica- tion of its regulations as regards the issue of shares. For on its shares the Society pays the excellent dividend of 44 per
(Continued on page v.)
Financial Notes
(Continued from page 176.) cent., plus a special bonus of 1. per cent., making 5 per cent. in all, free of Income Tax. No change has been made in the rate, but the Society will not, until further notice, permit share accounts to be raised to a higher figure than £1,900. Members whose share accounts already exceed £1,000 will not be affected, except that additional investments can only be made on deposit, where the rate of interest is the excellent one of 4 per cent., free of tax, and there is a maximum limit on the total of shares and deposits of £4,975. New members may still enter on the old terms and take up shares to a maximum total
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