THE DISTRICT OF TRENT, A MODEL CO-OPERATIVE DISTRICT 



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tke citizens by an absolute majority of votes ; their services are not 

 remunerated. The members of the Committee appoint their President 

 and Vice-President from among their own body by an absolute majoritv 

 of votes and by ballot. P'or the period during wMch these officers hold 

 office they cannot belong to the Municipal Executive Committee. The 

 savings bank is under the immediate supervision of the Commune and 

 under the control of a Government officer, who appoints a Commission to 

 super\dse and watch over the course of business and the administration 

 and see that the rules are exacly observered. 



The Trent Savings Bank was founded in 1885; it began with 193 books 

 and deposits of 6,178 florins and a reserve fund of 2,084 florins ; in 1912 there 

 were 27,603 books, the amounts deposited were about 12,000,000 crowns and 

 13,660,000 crs. had been withdrawn; the credits of the depositors amounted 

 to about 50,600,000 crs., the reserve fund was about 3,000,000 crs., the 

 total amount administered was about 55, 640,000 crs. (See Table IV, Work 

 and Balance Sheets of the Trent and Rovereto Savings Banks). The pro- 

 fits for the year 1912 were 292,417.77 crs., of which 282,417.77 crs. were 

 placed to the reserve fund to mieet depreciation of securities, to cover the 

 loss of 823,727.15 crs., due to the decrease in the real value of Government 

 securities as quoted on December 31st., 1912 ; this decrease represented 4.33 

 % of the nominal value of the securities held by the Bank. 



As said in the note at the bottom of Table IV, the funds to cover depre- 

 ciation of securities in the two banks had, between 1903 and 1905, become 

 ver\- considerable, but were at last altogether lost, together with the pro- 

 fits of the 3^ear, through the progressive fall in value of Austrian Govern- 

 ment bonds. It is well also to mention that the loans on mortgage to 

 incorporated bodies and private individuals made by the Trent Bank in 

 the Year 1912 amounted to 33,270,000 crs. 



uings Banks of Trent and Rovereto. 



on of Securities in the Trent Bank exceeded a million crowns, that in the Rovereto Bank in 1903 amoonted to 

 , but also of the profits for the year. 



