192 EXPERIMENT STATION RECORD. [Vol.4:: 



relating to the capital invested in farms in the United States in 1910, the rela- 

 tion of farm capital to income on farms operated by owners and on those oper- 

 ated by tenants, and the use of capital for farm improvements. It is pointed 

 out that the three distinct forms of loans needed by farmers are the long-term 

 or mortgage loan security by real estate ; a shorter time loan or second mort- 

 gage, based partly upon real estate and partly upon personal property; and 

 short-term or crop loans. The Federal Laud Bank loans are designed to meet 

 the requirements of farmers with sufficient capital, but second mortgages must 

 be resorted to by younger men with more meager financial resources. It is 

 said that the latter may eventually be operated by the farmers themselves 

 cooperatively through farm bureaus, and that the short-term or crop loans are 

 being made easier since the farmer has become an investor in Government 

 securities. 



Xegro credit unions of North Carolina, T. B. Patterson {^outli Workman, 

 Jf9 (1920), No. Jf, pp. 180-183). — Credit unions are defined as societies of bor- 

 lowers living in tlie same comnmnity organized on a limited shareholding basis 

 for lending money to members, accepting deposits, paying witlidrawals, buying 

 supplies, etc. Certain general features of organization and the advantages of 

 such unions are described, together with the origin and success of certain ones 

 among the negroes in the South. 



[Annual report of the Jewish agricultural and industrial aid society for 

 1919] (Jen-ish A[jr. and Indus. Aid Soc. Ann. Ept. 1919, pp. 53). — This con- 

 tinues information previously reported (P]. S. R., 41, p. 94). 



Cooperative land mortgage credit for India, H. R. Crosthwaite (Agr. 

 Jour. India, 15 {1920), No. 1, pp. 16-31). — The author attempts to show that 

 cooperative land mortgage credit is needed in India, and that it is possible on 

 the conditions that the laws of the land be modified to favor an organized 

 system of land mortgage credit, that owners of land will combine with each 

 other, that the necessary organizing agency be provided, and that the sums of 

 money required can be made available. In this connection he deals with prob- 

 lems of land tenure and circumstances affecting the market value of small 

 holdings, oiitlines the machinery necessary for organization and the technical 

 details of such a system, and lists the principal merits attaching to a mortgage 

 ci-edit association as an agency for providing the landowner with long term 

 credit. He maintains that State guidance and supervision are necessary with- 

 out, however, the use of State money either as subsidy or loan. 



[The progress of agricultural cooperation in India for 1918-19], J. 

 Mackenna {Rpt. Prog. Agr. India, 1918-19, pp. 99-110, 158-161) .—General 

 notes are given on the progress of cooperative societies in particular Provinces, 

 and also on the status of cooperative dairies and the progress of cattle insur- 

 ance societies. Tabulations are made of the operations of noncredit agricul- 

 tural societies for purchase and sale and production and of cattle insurance 

 societies. 



Causes of failure in cooperative societies, A. Gieard (Vie Agr. et Rurale, 

 9 (1920), No. 9, pp. 14I-144). — ^A summary of reasons given for failure of farm- 

 ers' cooperatives in Canada and the United States is made here. Among the 

 reasons most frequently given are failure to employ a highly competent man- 

 ager, too small a membership, insufficient demand, too elaborate a program of 

 activity, selling on too low a margin of profit, and opposition from without. 

 The author urges particularly the importance of cash transactions. 



Community organization, C. W. Caixarman (Okla. Agr. Col., Ext. Div. 

 Circ. in (1920), pp. 20). — ^A plan is presented here for community organization 

 on the basis of a State farm council and federated county and community farm 

 councils, outlining the duties of six committees — agricultural, social, civic beauty, 



