THE' GENERAI, RAIFFEISEN FEDERATION OF NEUWIED 



§ I. The central bank. 



The Central Bank {Landwirtschaitliche Zentraldarlehnskasse in Neuwied) 

 Stock Society maintains a balance of credit among all co-operative so- 

 cieties belonging to the General Raifi'eisen Federation. 



Its shareholding members are all the co-operative credit societies be- 

 longing to this federation ; saving that : 



i) it does not include as shareholding members sixty Bavarian and 

 158 Pomeranian co-operative societies although they belong to the General 

 Raiffeisen Federation, 



and 2) it does include as shareholding members, although they do 

 not belong to this federation, 256 co-operative credit societies which were 

 at first members both of the federation and of the Central Banks but have 

 ceased to belong to the former while remaining in the latter. 



The sphere of the Central Bank includes not only its shareholding mem- 

 bers but also all co-operative societies belonging to the General Raiffeisen 

 Federation, that is all of them other than the credit societies, all the co- 

 operative banks and all the co-operative stores forming part of the General 

 Raiffeisen Federation. 



The headquarters of the Central Bank are at Neuwied. It has branches 

 in all the district federations, one in each. Until 1909 there was a stores 

 attached to each branch, as a section of it. From 1909 these stores were 

 replaced in Berlin, Breslau, Brunswick, Dantzig, Erfurt, Cassel and Co- 

 blentz by independent co-operative stores, but at Koenigsberg, Frankfort- 

 on-Maine, Ludwigshafen, Niiremberg and Strasbourg they are still open 

 as sections of the respective branches 



At the end of 1915 the Central Bank had 4,636 shareholding members. 

 In 1914 it had 4,785, that is 149 more, which is because in 1915 sixty Bava- 

 rian and 158 Posnanian co-operative societies ceased to belong to it while 

 it was joined by ^ty-nine new members. 



Up to 1913 the capital in shares was of 10,000,000 marks. On 13 June 

 1913 a vote was given in favour of raising it to fifteen million marks. Of this 

 sum 12,453,750 marks had been paid up at the end of 1914. During 1915 

 the remainder, namely 2,546,250 marks, was paid up ; and in December 

 1 91 5 the increase of the capital to twenty million marks was voted. 



The movement of money between the Central Bank and its share- 

 holders, the rural banks, has been noticeably accelerated in comparison 

 with previous years, as is seen from the following figures : 



1913 359,608,000 marks 



1914 318,297,000 



- 1915 691,269,000 



If such total movement be analysed into its component parts, that is 

 receipts and expenditure, it is seen that during the war the increase of re- 



