24 AUSTRIA - CO-OPRRATION AND ASSOCIATION 



of his shares but also for a further amount equal to the shares, the capit- 

 al eventually consists in the credit of the Bank to the members, in accord- 

 ance with chapter II of the same law of 9th., April, 1873. The society may, 

 in order to increase its business, receive money on loan and deposits, at 

 interest or not, on the security of its assets. The members obtain credit 

 within the limits and in the manner laid down in the Rules, the}' have a 

 right to vote at the meetings and participate in the property and profits 

 in proportion to the shares they possess. The contributions to the funds 

 of the society, its liquidation etc. are regulated by the provisions in 

 Chapter III § 76-86 of the law No. 70 of April qth., 1873. 



The operations conducted by the consortium are the following : the 

 society lends and discounts bills of exchange, invoices, certificates of work, 

 lends wdthout guarantee, grants subventions on pledge of personal estate, 

 opens current accounts when two or more acceptable persons stand secur- 

 ity or on pledge of goods, receives deposits in money by way of loan, un- 

 dertakes the cash business of members and undertakes collection of money : 

 in case of need it enters into relation with Savings Banks or Institutes ob- 

 liged to publish their accounts, either to satisfy its own cash requirements 

 or to deposit its own surplus cash; it takes charge of securities and adminis- 

 ters them ; it administers the estate of other co-operative and mutual 

 aid societies without seeking a profit. All these operations it only con- 

 ducts with its members. It does not make itself responsible for debts 

 on loans nor invest cash in undertakings or institutes obhged to publish 

 their accounts. If there is abundant capital, the Board of Management is 

 empowered to invest it in purchase of public securities and land bonds, 

 railway preference bonds and in shares in credit institutes of the country, 

 always, however, with tlie precautions provided l.)y § 24 of the Rules, 



The profits are distributed as follows : a portion to members as divid- 

 end, corresponding at least with 5 % of the nominal value of the shares, 

 on c ndition of the total amount to be distributed to members not being 

 more than 50 % of the profits shown on the general balance sheet ; the 

 rest to the general reserve fund. 



The executive authorities of the society are : the General Meetings 

 of Members, the Board of Management, the Manager v\'ith the necessary 

 number of employees, the Committee of Control, the Discount Committee 

 and the Arbitration Committee. Founded in 1886, the Trent Co-oper- 

 tive Bank had in 1913, 3 branch offices, 8 subordinate branch offices 

 and 19 agencies. 



Tliis institute has made great progress in the 28 years of its life ; 

 the members, who, in 1907, were 4,995 and held 37,638 shares, at the 

 end of 1913 were 5.142 and held 64,556 shares. The share capital (paid 

 up capital and reserve fund) increased from 1,247,906 crowns in 1907 

 to 2,804,195 crs. in 1913. The sa\'ings deposits in 1907 amounted to 

 23,589,853 crowns and in 1913 reached the amount of 40,248,107 crs. The 

 profits in 1907 were 45,865 crs. and in 1912 111,150 crs. distributed as 

 follows : 



