WORK DONE BY THE MORTGAGE CREDIT BANK 



67 



These 5.434 loans were divided as under, according to the nature of the 

 property mortgaged: 



Urban loans were granted very largely (i) on real estate in the city of 

 Santiago ; while the rural loans (2) principally benefited the provinces 

 of Santiago, Colchagua, O'Higgins, Talca and Aconcagua. 



§ 4. .Issues. 



The bonds issued in 1912 correspond with the loans contracted. The 

 issue was of 71,503,200 pesos thus divided: 38,961,000 pesos in bonds at 

 8 % '> 26,514,200 pesos in bonds at 7 %; 5,493,000 pesos in bonds at 6 % 

 and 535,000 pesos in bonds at 5 %. 



The issue in gold amounted to 11,500,000 fr. and £463,240 in bonds 

 8-t 5 %• We must also mention a special issue in gold at 5 % made by the 

 Bank in accordance with the law of February 12th., 1912, of which 

 we have already spoken in section 2; these new bonds substitute the destroyed 

 certificates of various series owned by the State. The value of the issue neg- 

 otiated with the German banking syndicate is 47,999,976 marks, equal to 

 58,823,500 fr. This transaction, on the one hand, caused an extraordinary 

 extinction of bonds in current money, equal to the amount of the destroyed 

 certificates, and, on the other hand, an extraordinary issue in gold equal to 

 the amount in marks of the bonds substituting them. 



Taking into account the ordinary as well as the extraordinary issue, the 

 total amount in gold of the bonds is 70,323,500 fr., and £462,240. 



We give here the balance of the issues in current money and gold 

 on December 31st., 1912. 



Pesos 



S 



218,347,700 



71,503,200 



Balance on January ist. 

 Issued in the Year . 

 Total 

 Paid off in the Year 

 Balance on December 



1912 



289,850,900 

 70,023,500 



Francs 



Fr. 



39,824,000 



70,323,500 



110,147,500 



1,479,000 



Pound s ste rling 



£ 



184.485 

 462,240 



646,725 

 4,390 



31st., 210,828,400 108,668,500 642,335 



(i) 2,774 loans in current money for $93,59(^,000; 149 loans (in gold) for 13,221 fr., and 6 

 loans in gold for £ 451,680. 



(2) 495 loans of $45,658,300; 36 loans in gold of 9,768,000 fr.; ^ loans in gold of £77.000. 



