1920-21 DEPAliTMEXT OF LA^sDS AND FOEESTS. 205 



Appendix No. 47. 

 Settlers' Loan Commissioner. 



Toronto, December loth, 1920. 

 To the Honourable the Minister of Lands and Forests, Ontario. 



Sir, — I beg to herewith submit a report of the operations conducted by this 

 Department under the Northern and North-western Ontario Development Act, 

 Amending Acts 1916 and 1918. 



Up to October 31st, 1920, a total of 2,227 applications for loans were received, 

 asking for an amount of $874,760.00, an average of $384.61 per application. 

 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 

 sliown the money could be used to good advantage for the improvement of settle- 

 ment duties. 



A total of 1,556 loans have been made to settlers, amounting to $490,836.00, 

 an average of $315.44, and in addition a loan of $12,000.00 has been advanced 

 to the Sudbury Co-operative Creamery Co., Ltd., and also a loan of $8,000.00 

 to the Kenora Dairy Co-operative Association. 



The repayment of loans has been very satisfactory, as is evidenced by the 

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

 of principal equal over 97 per cent.' of the amount due, this being partly duo 

 to the fact that a number of loans have been paid in advance. 



I beg to direct your attention to the attached memorandum giving details oi 

 operation carried on, and it is a pleasure to be able to state that settlers who 

 have received loans through this Department have expressed their appreciation 

 of the help the loan has been, by enabling them to stay on their own lots, and 

 carry on the work of clearing land. 



Yours very truly, 



F. Dane, 

 Settlers' Loan Commissioner.- 



