44 CHILE - INSURANCE AND THRIFT 



cieutly long period and comprise interest and amortization (i). Proper- 

 ties which are the object of these transactions must be free from all bur- 

 dens. The section for the purchase of properties has thus, since it was 

 constituted, sold more than 400 holdings in real estate of which the value 

 is more than 7,000,000 pesos. 



Finally, following the line of conduct adopted by the council and in 

 the interest of small rural property, the bank decided in Kjio to buy an 

 area of 232 hectares (2) which adjoined the station of the State railways 

 at Graneros, in order to divide it and resell it in parcels, converted into 

 small model farms or as bare land, and to adopt the procedure followed 

 in the case of the properties of which we have already spoken. 



Having noticed this enterprise of the savings banks which aims solely' 

 at procuring advantages for the rural working-class population, we will 

 now speak of the colonist group called the " agricultural colony of Grane- 

 ros ". As has been said its land has an area of 232 hectares which were 

 bought for 551,000 pesos. Seventeen hectares were at once resold to a 

 purchaser who intended to instal a large establishmeni: for the exercise 

 of various rural industries and for giving advice to the colonists. The 

 land remaining available — 215 hectares — has been divided into lots 

 of about one hectare each which are still being sold. More than two 

 thirds of them have been sold hitherto. 



(i) The period is generally eleven years and seven months. The purchasers repaj' their 

 debt according to the value of the property as follows : 



(2) I hectare = 2.47 acres. 



