1922-23 DEPARTMENT OF LANDS AND FORESTS 159 



Appendix No. 41 



46 Richmond Street West, Toronto, 

 19th December, 1923. 



To the Honourable the Minister of Lands and Forests. 



Dear Sir, — It affords me pleasure to present herewith a report of the 

 business of this department to the end of October, 1923. 



The Department continues to give careful consideration to each application 

 and advances money on the basis of the valuation of the a.ctual improvements 

 that have been made to the land. 



It is a pleasure to be able to refer to the manner in which interest payments 

 have been made, which from the accompanying statement you will observe is 

 90.32 per cent, of interest due. 



The Department frequently receives advice that the loans of this depart- 

 ment have been a great help to the development of the property on which the 

 loans have been granted, and the object seems to be that the settler is desirous 

 of getting sufficient land developed to enable him to carry stock. 



With reference to the loan granted to the Kenora Dairy Company, you 

 will observe from the report that this company failed, and the Department 

 anticipates that there will be at least a loss of 50 per cent, in connection with 

 this loan. 



All of which is respectfully submitted. F. Dane, 



Settlers' Loan Commissioner . 



Memorandum of Loans to Settlers to October 31st, 1923 

 A pplications 



Total number of applications received 4,485 



Total amount applied for $1,765,230 00 



Average per application ' 393 58 



Amount applied for under approved applications 1,212,745 00 



Loans 

 Number of loans issued 2,960 



Equal to 65% of applications. 

 Amount granted $973,110 00 



Equal to 55% of total amount applied for and equal to 80% of total 



amount applied for under approved applications. 



Average loan $328 75 



Total acreage covered by liens 450,492 



Acreage improved land 67,765 



Equal to 15% of total acreage. 



Average loan per care on total acreage $2 16 



Average loan per acre on acreage improved land 14 36 



Memorandum of Loans to Creameries and Other like Associations to October 31st, 1923 



Applications and Loans 



The S.udbury Co-Operative Creamery Co., Ltd $24,000 00 



The Kenora Dairy Co-operative Association, Ltd 13,000 00 



Producers' Co-operative Creamery Co., Ltd., Lavallee, District of Rainy River. . . 3,500 00 



Total $40,500 00 



Note. — The Sudbury Co-operative Creamery Company and the Producers 

 Co-operative Creamery Company of Lavallee are in active operation 

 and have promptly paid the amounts failing due on their loans. The 

 Kenora Dairy Co-operative Association failed to operate successfully 

 and went into liquidation on March 8th, 1922, having failed to pay 

 any portion of their loan or interest. 



