YoL. XIII. No. 32.3. 



THE AGKIUULTUllAL NEWS. 



299 



(ii) ivsiiling ill the saiur 

 town or village ur in the siime 

 group of villages; or 



(L) subject to tlie sanction 

 of the Eegistrar, consisting of 

 ineinliers of the same tribe, 

 class or caste. 



I.IAlJII.nV OF 



The liability of each nieni- 

 lier of a society for the debts 

 of the .society shall l)e as 

 follows:— 



(a) in the case of a rural 

 sr)ciety such liability shall, 

 save with the sjiecial .sanc- 

 tion of the Local Govi^rn- 

 ment, be unlimited; 



(b) in the case of an urban 

 society, such liability shall be 

 limited nr UHliniite<l, as may 

 be provided by tlie liy-lawsor 

 by anv rules niaile un<lcr 

 this Act. 



ciety is the creation lA funds 

 to be lent to it,s mend)ers un- 

 less such persons 



(a) reside in the same town 

 nr village or grouji of vil- 

 lages; ur 



(li) save where the Kegis- 

 ti'ai- otherwise directs, are 

 members of the same trilie, 

 class, caste or occupation. 



MK-MliKRS. 



Provided that unless the 

 IjiH'al Government by gene- 

 ral or .special order (itherwise 

 diiects — 



( 1 ) the liability of a .society 

 fif which a member is a regis- 

 terecl society shall b<- limited; 



A society sliall make no 

 loan to any per.son other than 

 I niemlier; 



Provided that, with the 

 consent nf tli<' llegisti-ar, a 

 .society may make loans to 

 a rural sncietv. 



( 1' ) the liability of a society 

 of whi:h the oliject i.s the 

 creation of funds to be lent 

 to its members, and of which 

 the niajcprity of the members 

 arc agriculturists, and of 

 which no member is a regis- 

 tere<I .society, shall be uidim- 

 ited. 

 I:KSTI!|iT|oN on i.o.\xs. 



A registered society shall 

 ni>t make a loan to any person 



A siH'icty may deposit its 

 funds in the Government 

 Savings Banks, or with any 

 banker or person acting as a 

 banker, approved for this 

 purjKise by the Registi'ar. 



unisioN ot 



(!) Xo dividciiil cir jiay- 

 nient on account nf profits 

 shall lie [laid to a meud)er of 

 a rural .society, but all profits 

 made by such a society .shall 

 be carried to a fund (to l>e 

 called the reserve fund): 



Provided that when such 

 reserve fund has attained 



other than a member: 



Provided that with the 

 genci-al or sjiecial sanction of 

 the liegistrar, ii registered 

 .society may make loans to 

 another registered .society. 



INVKSTMKNT nl' I'l'NDS. 



.\ registered society may 

 inxi'st or depo.sit its funds — 



(a) in the Government 

 Savings Bank, or 



(b) in any of the securities 

 spccitied in section 20 of the 

 Indian Trusts Act, 1882, or 



(c) in the shares or on the 

 .security of any nther regis- 

 tered society, or 



(d) with any bank or person 

 carrying on the liusiness of 

 banking, approved for this 

 purpose by the Kegistrar, oi' 



(e) in any other mode per- 

 mitted liy the rules. 



' I'ROKITS. 



Xo part (if the fmids of a 

 registered society shall be di- 

 vided by way of bonus or 

 dividend or otherwise among 

 its members: 



Provided that after at least 

 one-fourth of the net profits 

 in any year have lieen carried 

 to a re.serve fund, payments 



from the remainder of such 

 profits and from any profit of 

 past years available for dis- 

 tribution maybe made among 

 the members to such an e.Ktent 

 and under such conditions as 

 may be pre.scribed by the I'ules 

 or bj-'laws: 



Provided also that in the 

 case of a society with unlimit- 

 ed liability no di.stribution of 

 profits shall be made without 

 the general or special order 

 of the Local Government in 

 this behalf. 



such proportion to the total 

 liability of the society, and 

 when the interest on loans to 

 members has been reduced to 

 such rates as may be deter- 

 mined liy the by-laws oi- 

 I'ules made under this Act. 

 any further profits of the 

 society, not exceeding three- 

 fourths of the total aimual 

 profits, may be distriliuted to 

 members by way of lionus. 



(2) Xot less than nnc- 

 fourth of the profits in each 

 year of ati urlian society shall 

 be carried to a fund (to be 

 called the reserve fund) before 

 any dividend or payment on 

 account of profits is paid to 

 the members or any of them. 



Both Acts give power to the Local Government, that is, 

 to each Provincial Government, to exempt any society from 

 any of the conditions laid down as to registration, and from 

 any of the provisions of the Act. The object of granting such 

 power of exemption is to enable tlie Act to lie extended to 

 certain societies already established in some of the Provinces, 

 and which differ somewhat from the type of society contem- 

 plated by the Acts. 



The new Act contains a provision which jn-ohibit.s any 

 person other than a ri'gistcred society, from carrying on 

 business under any name or title of which the word 

 •Co-oi)erative' is part, which was not in use on the date of 

 the coming into force of the Act, without the .sanction of the 

 local Government. 



The Act of 1904 is repealed, liut societies registered 

 under it are deemed to be registered under the new Act, and 

 their by-laws need only be altered or rescindetl in so far as 

 they are inconsistent with the express provisions of the new 

 Act. 



A New Fibre Decorticator. — The advantages of 

 a new machine for .scutching sisal, Ha.x, hemp, ramie. Hibiscus, 

 jute, banana and other fibres are presented in the (Jueeiidand 

 A'jricultural Jownal for -July 1914. The machine is known on 

 the market as 'LaFrancaise', and it is stated that all informa- 

 tion may lie obtained from Mon.s. Y. Miehotte, 4.'5, Avenue 

 Trudaine. Paris. 



The advantages claimed for this machine are very briefly 

 as follows: It is adaptable for all sizes of leaves or stems; it 

 can be set up to work in the field; it is not complicated in 

 construction nor doe.s it require skilled attention: the work 

 ijerformed is said to be perfect, rapid and economical, the 

 leaves or stalks are treated by direct attack, and the decorti- 

 cation is effected in one passage through the machine: the 

 leaves or stalks have not to pass through the lieaters several 

 times as is the case with other machines; and a peculiarity of 

 the machine is that no preliminary hand labour is required 

 to remove the leaves, as is often the case in connexion with 

 ramie. The motor power is economical. 



'La Francaise' will treat about 2,700 Bb. of dried leaves 

 or stalks and 5,620 It), of green in a day of ten hours, pro- 

 ducing about 337 Iti. of dry fibre. Conseipiently it is equal 

 to decorticating in five days the crop of 2^ acres of hemp, 

 representing 27,000 fc. of stalks or leaves. The price of the 

 machine (at the works) complete is £58 10s. 



