26 



FRANCE - CO-OPERATION AND ASSOCIATION 



The subscribed capital of the Regional Banks on December 31st., 1912 

 was 23,330,342 fr., of which 21,551,221 frs. had been paid up. The share of 

 the local banks in this paid up capital was 13,910,195 frs. 



For their short term operations the regional banks had available : 



Paid up Capital 21,551,221 fr. 



Reserve Fund, amounting at the End of 1911 to 4,879,937 « 



State Advances 62,745,412 « 



Amounts in Deposit, averaging 2,417,000 ), 



Say, altogether 



9^,. 593.570 



as compared with 85,337,337 fr. in 1911. 



It is interesting to observe that the amount of the deposits in the regional 

 banks, increased in 1912 to 20,036,097 frs., or nearly 1,690,389 frs. more 

 than was in deposit in 1911. The credit balance fluctuated between 

 1,616,628 frs. and 3,218,217. fr. 



In the following table, the operations of the Regional Banks in the 

 two years 1911 and 191 2 are shown compared with each other : 



The collective short term loans to agricultural syndicates, co-oper- 

 ative societies and mutual insurance societies may be estimated at about 

 14,434,000 fr. 



The number of banks discounting at rates below the ordinary rate of 

 the Bank of France has been reduced to two. 



