INFORMATION RELATING TO CO-OPERATION AND ASSOCIATION 1 9 



siness, a profit of only 19,366 francs. The union's true aim was however 

 fully reached. The society does not aim at making profits for itself, but 

 provides the federated funds with a possibility of mutual compensation, 

 supervises their management by means of regular revisions, and offers them 

 an opportunity for a safe investment of their available capital. 

 The modest balance was employed as follows : 



4per cent, to the quota of affairs 13,680 francs 



To the reserve fund . ' 5»5oo 



Carried over to next year 186 



19,366 



During 1916 the union did not have to modify its previous disposi- 

 tions as to rate of interest. It was 4 Yg P^r cent, for current credit accounts, 

 4 ^2 psr cent, for deposits bound for three months, and 4 ^/^ per cent, for 

 deposits bound for one year. Current debit accounts will pay interest 

 at the rate of 5 per cent. 



UNITED STATES 



1. THE FEDERAIy LAND BANK OF BERKELEY, CALIFORNIA, AND LOANS ON 

 ORCHARDS. — California Fruit Netvs,Vo]. 56, No. iS2q, Sa'.i Francisco, 2 7 October 191 7. 



We have already explained that the activity of the Federal Land Banks, 

 constituted in accordance with the law of 17 July 1917, while it follows uni- 

 form principles yet adapts itself to special conditions in the several groups of 

 States. The greater or less success of the Act depends on the degree of 

 perfection with which this adaptation is made. The Federal Land Bank 

 of Berkeley, California, has issued the following statement of the princi- 

 ples on which it will make loans on orchards : 



" I. Class A Orchard Definition. Proven adaptable land with valid 

 and sufficient water supply which could be profitably used for crops other 

 than orchards. Trees not exceeding twenty years of age and to pe in full 

 bearing, free from disease, and which have a record of better than average 

 crops over a period of not less than five years. 



" 2. Where a loan is desired on a parcel of land less than five acres in 

 area, it must be demonstrated to the satisfaction of the bank that such land 

 constitutes an actual farm and that its products provide the applicant's 

 principal source of income. Otherwise no loan can be made. 



"3. Upon lands which have no substantial agricultural value except 

 for orchards no loans will be made. 



" 4. Upon young groves not yet in full bearing loans will be based on 

 the land as to its adaptability for other agricultural crops, plus a reasona- 

 ble consideration on the cost of the planting and the age of the trees. 



"5. On other than young orchards trees will not be regarded as a basis 

 for enhancing the basic agricultural value of the land, unless satisfactorv' 



