26 INFORMATION REIvATING TO CO-OPERATION AND ASSOCIATION 



The working capital of individual societies varied enormously, as 

 appears from the following figures : 



I co-operative society had a working capital of 

 12 " " " " " " " more 



26 " " " " " " " from 



51 

 50 

 59 



The working capital of the limited liability was much larger than that 

 of the unlimited liability societies. 



The number of depositors was 234,351, most of them peasants. Accord- 

 ing to their form the deposits represented short-term liabilities, but in 

 fact most of them were for long terms for the peasants do not withdraw 

 their deposits except to buy land. 



The total assets of the 208 co-operative credit 

 societies amounted to 320,275,969 marks 



made up as follows : 



bills of exchange 280,126,736 



deposits in banks 15,317,472 



in hand 3,465,170 



various assets 21,366,591 



The Polish co-operative societies usually grant credit, even in the case 

 of mortgage loans and even although the loans are for long terms — three 

 to ten years — in the form of bills of exchange. The co-operative society 

 reserves the right to exact repayment before the term expires, if the 

 debtor do not pay his redemption quotas regularly or if his solvency 

 diminish. 



The profits realized amounted to 16,901,249 marks, 16,510,459 marks 

 being interest exacted from debtors. The total expenditure amounted to 

 14,174,888 marks, 11,829,068 marks being interest paid to depositors and 

 banks and 1,874,324 marks costs of administration. The net profits rea- 

 lized by 202 co-operative societies amounted to 2,988,198 marks of which 

 the share of six societies was 261,836 marks. Of all the net profits, 1,390,149 

 marks were distributed among the members and the rest paid into the re- 

 sers'e fund. 



2) The so-called " Rolnik " (agriculturists') co-operative societies 

 for purchase and sale were first formed in 1894, but began to develop on a 

 solid basis only in 1900. 



At the end of 191 4 there were in Posnania and West Prussia seventy 

 Polish co-operative societies for purchase and sale of which sixty-one, hav- 

 ing 9,733 members, belong to the Polish federation. All have limited lia- 

 bility. The shares are from 20 to 50 marks, and each of them involves lia- 



