WORK OF THE MUTUAL AGRICULTURAL CREDIT BANKS 



27 



The total general expenditure of the regional institutions increased 

 to 512,032 fr., as against 462,579 fr. in 1911, therefore by 49,453 frs. This 

 total, when considered with the amount of the short term operations (bills 

 discounted and renewed), advances to local banks for working capital in 

 1912, and collective and individual long term loans in the same year, 

 altogether amounting in round numbers to 190,000,000 frs., is seen to 

 represent an average of 0.26 % of the total outgoings and incomings. This 

 average is too high, and the Government has had to call the attention of 

 the managers of certain regional banks to it, in cases in which the general 

 expenditure was not sufficiently justified. 



The reserve funds increased in amount from 4,879,937 fr. in 1911 

 to 6,212,976 fr., 1912, that is by 1,333,039 fr. 



In the following table the operations of the local banks for 191 1 and 

 1912 are shown compared with each other : 



As we see, there was a fairly appreciable increase in the number of the 

 local banks and their members and in that of the new loans granted in the 

 year. 



The amount of the reserve funds of the local banks increased from 

 2,006,348 fr. in 1911 to 2,831,966 fr. in 1912, that is by 825,618 fr. 



Most of the co-operative societies for transformation and sale of agri- 

 cultural produce that are formed or introduce changes in their installations 

 ask to benefit by the provisions of the law of December 28th., 1906. One 

 hundred and two of these societies received advances in 1912, amounting 

 in all to 2,587,874 frs. 



The situation at the end of 1911 and at the end of 1912 may therefore 

 be shown as under : 



