THE DISTRICT OF TRENT, A MODEL COOPERATIVIC DlisTRlCT 29 



The progress made b}^ the Industrial Bank is seen by the amount of 

 its total business. 



in 1908 the total business of the Bank amounted to 53,000,000 



" 1909 " " " " " " 57.500,000 



" 1910 " " " " " " 76,680,000 



'"1911 " " " " " " 105,500,000 



" 1912 " " " " " " 111,132,000 



The Banca Commerciale Triesiina wa.s founded in 1857; the Trent Peo- 

 ple's Bank in 1867 ; the Trent Industrial Bank in 1908. 



B. — Savings Banks. 



The object of the Savings Banks of Trent and Rovereto is to give every 

 one, but above all the poorer classes of the people, an opportunity of 

 depositing their savings safely at interest in successive instalments. The 

 Bank is under the patronage of the Commune in which it has its head quart- 

 ers, the funds of the Bank consist of the deposits, the profits on the business 

 and the reserve fund already formed. The profits on the business consist 

 of the interest on the funds of the bank remaining after subtraction of the 

 amounts due to the depositors as interest and after payment of all working 

 expenses and the other debts of the Bank. 



These profits are computed separately and placed to the reserve fund, 

 which is formed precisely by the profits made by the Bank in previous j^ears 

 and the amounts placed to the fund. 



The reserve fund is intended to guarantee the deposits, to meet loss- 

 es and all the other engagements of the Bank. The fund must remain 

 intact until it amounts to 5 % of the credit of the depositors, and as soon 

 as this amount is reached or exceeded, half the surplus annual revenue must 

 be employed for the further increase of the reserve fund until this amounts 

 to TO % of the credit of the depositors, while the other half may be used for 

 purposes of public utility or benevolence in the comnmne. 



When a part of the fund is used for this latter purpose, the proposal 

 of the' Managing Committee of the Bank to this effect must be approved 

 by the Communal Council by a majority of two thirds of the votes of 

 those present, and is always subject to the approval of the Government 

 political authorities. 



WTien the Savings Bank is dissolved, all the reserve fund must be used 

 for the above mentioned purposes. 



Besides this reserve fund, the savings Bank is obliged to have another 

 special reserve fund to meet depreciation in securities. This fund is formed of 

 the profits derived from the increase in value of the securities held bj' the 

 Bank, that is to say from profits not realised and therefore merely regis- 

 tered, after deduction of the losses on other Government securities held bj^ it. 



