1919-20 DEPARTMENT OF LANDS, FORESTS AND MINES. 97 



every desire to co-operate and assist deserving settlers, careful consideration was 

 given to each individual request, and loans advanced, on the basis of security 

 offered in the way of improved land, where it was clearly shown the money could 

 be used to good advantage in the improvement of settlement conditions. 



A total of 1,414 loans were made to settlers amounting to $442,256.00, an 

 average of $312.76, and in addition a loan of $12,000,00 was advanced to the 

 Sudbury Co-operative Creamery Co.^ Ltd., the loans being distributed over the 

 various districts as follows : 



District. No. of Loans. Amount. 



Algoma . . ' 17 $4,525 00 



Kenora 115 33,545 00 



Nipissing 64 22,750 00 



Rainy River 121 38,300 00 



Sudbury 29 21,725 00 



Temiskaming 635 197,265 00 



Thunder Bay 434 136,146 00 



Totals 1,415 $454,256 00 



Reports received and observations made would indicate that the loans granted 

 have been of great benefit to the settler struggling to get sufficient clearing to 

 enable him to stay at home and work the land, and to get some live stock with 

 which to carry on. 



Repayment of loans has been very satisfactory as is evidenced by the fact 

 that almost 90 per cent, of the interest payments are up-to-date and payments 

 of principal have exceeded the amount due, on account of some loans being paid 

 oif in advance. 



In conclusion, would direct your attention to the following memorandum giving 

 further details of operations carried on, and would say that appreciation of the 

 small loans granted under easy conditions of repayment has often been expressed 

 by the individual settlers concerned. 



MEMORANDUM OP SETTLERS' LOANS TO OCTOBER 31sT, 1919. 



Applications. 



Total number of applications received 2,001 



Total amount applied for $776,790 00 



Average per application 382 39 



Amount applied for under approved applications 564,640 00 



Loans. 



Number of loans issued 1,415 



Equal to 70% of applications. 

 Amount granted $454,256 00 



Equal to 58% of total amount applied for and 



Equal to 80% of total amount applied for under approved 

 applications. 



Average loan $312 76 



Total acreage covered by liens 217,040 



Acreage improved land 29,729 



Equal to 13.6% of total acreage. 



Average loan per acre on total acreage $2 03 



Average loan per acre on acreage improved land 14 87 



Note. — 'Figures, except averages, include application for, and loan of $12,000 to 

 Sudbury Co-operative Creamery Co., Ltd. 



7 F.M. 



