THE ACTIVITY OF INSTITUTIONS OF LAND CREDIT IN I916 53 



loans for 3,115,500 liras in 1916. Of these loans 46 for 1,670,500 liras were se- 

 cured by urban lauds, 21 for 1,295,000 liras by rural lands, and one for 150,000 

 liras by a property partly rural and partly urban. Four loans varied in 

 amount between 500 and 5,000 liras, nine between 5,000 and 10, 0(5o liras, ele- 

 ven between 10,000 and 20,000 liras, fourteen between 20,000 and 30,000 liras. 



The province of Bologna received most credit, namely 6i loans for 

 2,860,500 liras. 



From the time this savings-bank was founded in 1868 until the end 

 of 1916 there were stipulated 3,451 loans for a sum of 133,921.500 liras, the 

 average amount of a loan being 38,806 liras. 



The Credito fondiario delta Cassa di risparmio della cittd di Verona 

 granted in 1916 fourteen loans amounting altogether to 513,500 liras. 



§ 4. The " ISTITUTO DELLE OPERE pie di SAN PAOLO " AT TURIN, THE " MONTE 

 DEI PASCHI " AT SIENA AND THE " CREDITO FONDIARIO SARDO " AT 

 CAGLIARI. 



The loans stipulated in 1916 by the land credit of the Istituto delle Opere 

 Pie di San Paolo at Turin numbered 118 and were for 5,752,500 liras. They 

 were distributed as follows : 



on urban lands . 99 loans for 4,312,000 liras secured by ruortgages of 9,731,375 liras 

 on niral lands . 13 " " 343,000 " " " " 1,190,532 " 

 on lands both ur- 

 ban and rural . 6 " " 897,500 " " " " 2,103,790 " 



II''' " " 5,752,500 " " " " 13,025,697 



lyarge loans prevailed : one was for 600,000 liras and seven for 2,495,000 1., 

 and thus eight loans represented almost 54 per cent, of the total sum lent. 



The term of loans was usually from thirty-six to fifty years. In 1915 

 the lending contracts concluded numbered 160 and covered 7,628,000 liras. 

 Thus in 1916 the number of loans and the sum of capital lent were less than 

 in 1915, partly owing to the abundance of money. The price of the bonds 

 varied from a minimum of 432 liras to a maximum of 448 liras. 



lyoans in being on 31 December 1916 numbered 2,410 and were for 

 91,629,295 liras. 



In 1 91 6 the Monte dei Paschi at Siena granted in bonds sixty loan?, for 

 1,222,500 liras in all. 



The Credito Fondiario Sardo granted in the same year five loans for 

 81,000 liras. IvOans in being at the end of the year numbered 179 and were 

 for 2,710,157 liras. 



Thus the seven institutions which we have mentioned as affording 

 land credit in Italy granted 555 loans for a total sum of 31,006,500 liras in 

 1916. 



