GERIVIANY - CO-OPERATION AND ASSOCIATIOX 



Savings. 



Savings amounted to 82 per cent, of the year's capital, namely 

 682,618,933 marks, and had increased by 33,956,963 marks on those of 



1913- 



The increase did not however arise out of increased paj'ments but 

 out of a diminution of deductions, as appears from the following figures : 



Pasinents Deductions 



I9I2 204,175,046 168,881,862 



I9I3 214,520,120 173,843,266 



I9I4 195.843-529 152,286,744 



Savings paid in were less in 1914 than in 1913 and 1912. But since 

 here also the amount of deductions was less an increase in the total amount 

 of savings resulted. 



The rate of interest paid b}' the banks to savers was from 3 to 6 per 

 cent., having been from 3 to 5 per cent, in 1913. 



Current Accounts at the Central Bank. 



At the end of 1914 the rural banks had debited current accounts at 

 the Central Bank amounting to 68,772,537 marks. The debt was less by 

 9,819,567 marks than its amount in 1913 and less by 8,430,541 marks 

 than its amount in 1912. 



As a consequence of this decrease in current account liabilities and the 

 increase in current account credit the rural banks, which were the debtors 

 of the Central Bank before the war, had become its creditors, for their cre- 

 dit accounts with this bank reached the sum of 95,139,579 marks as against 

 78,302,126 marks in 1913. 



Credit for Fixed Terms. 



Such credit amounted to 61.5 per cent, of the whole assets of the rural 

 banks, namely 499,673,745 marks out of 832,006,308 marks. 



The increase since 191 3 was of about eight million marks but it re- 

 sulted, as the following figures will show, not on increased new credit 

 but on diminished repa3^ments : 



Credit granted Repayments 



I9I3 98,763,252 70.776,473 



I9I4 72,001,670 57,306,084 



The rate of interest paid by members to the rural banks was from 

 3 ^/4 to 8 3^ per cent., as compared to its rate of from 3 to 7 per cent, 

 in 1913. 



