42 



ARGENTIXA - CREDIT 



been made to meet these requirements. I^et us now briefly examine the work 

 of this important institute in 1912. 



Circulation. The amount of the bonds in circulation on December 31st., 

 1911 was 336,663,700 pesos; in the course of IQ12 bonds were issued for 

 140,647,900 pesos and bonds for the amount of 34.773,425 pesos were 

 withdrawn from circulation, so that the amount in circulation on December 

 31st., 1912 was 442,538,175 pesos. 



To give a clearer idea of the increasing activity of the Bank, we publish 

 the following comparative table for the five years 1908-12 (4), which also 

 shows the quotations for the 6 % bonds. 



Years 



Amount 

 in Circulation 



December 31st, 



Issue 



Series 



Average 



Quotat'oi! 



ot 6 % 



Bonds 



lyOant 



Current on 



December 3tst. 



1908 

 1909 

 I9I0 

 1911 

 I912 



I46,855,4<» 

 178,546,250 

 250,755.300 

 i 36,663,700 



442,538,175 



I,. 



I.. 

 C.H.A. 

 C. H. A. 

 C. H A. 



27,492,700 



52,425,400 



98,894,700 



1 15,926,600 



140,647,900 



90.24 



97-74 



100.64 



99.87 



97-36 



178.553.747 

 212,980,307 

 287,617,026 



377.071,351 

 485,324,126 



There were 5,060 loans for 140,647,900 pesos, granted in 191 3: 4,295 

 (89,312,200 pesos) being secured on urban and 765 (51,335,700 pesos) on 

 rural land. 



The following table shows the distribution of these loans in detail 

 and also from the geographical and agricultural point of view : 



(4) The figures here also stand for pesos ni/n. 



