Miscellaneous. 



110 



ftFfll. 1907. 



Profits. 



After providing for all the costs of management and for losses, the net 

 yearly profits are divided as follows :— 



(1) Twenty-five (25) per cent, to the reserve fund; (subject to previous 

 provision.) 



(2) Five (5) per cent, to the provident fund. 



(3) Five (5) per cent to local benevolent or charitable works. 



(4) Four (4) per cent, in the discretion of the council of administration as 

 additional remuneration to the salaried employees of the association as a reward 

 for good conduct in the performance of their duties. 



The balance is divided amongst the shareholders in proportion to the period 

 and amount of paid up shares. This amount is not to exceed 8 per cent, until the 

 reserve fund reaches double the maximum attained by the capital at any time. 



Financial Situation of Levis Society. 



To show the practical working and financial conditon of " La Caisse Populaire 

 de Levis," a statement may be given of the situation of this institution as it 

 stood on February 14 of the present year. On that date the amount of paid np 

 subscribed capital was #24,584-62 ; the amount of savings deposits, $5,529*70 ; amount 

 of interest still to be paid on savings unpaid, #34 - 81 ; amount of dividends unpaid, 

 $408*20, making in all a total of $30,557*33. The amount paid as entrance fees 

 on shares subscribed from December 1 to February 14, 1905, amounted to $40*90. 

 The reserve fund amounted to $1,306*76, the provident fund to $130*05, these together 

 with a surplus of $236*42, making a grand total in addition to the capital of $1,714*13 

 for the protection of deposits etc., 



The profits from December 1, 1904, to February 14, 1905, amounted to $296*09. 

 The grand total of liabilities on February 14 was, therefore, $32,567'55 



Of the assets of the society there were loans to the amount of $25,631*18, 

 general expenses $15*50, cash in hand §6,920 87, the whole making a grand total 

 of $32,567*55, 



As shown in the monthly statement of the manager of the society these 

 amounts appear as follows :— 



FINANCIAL STATEMENT OF THE " CAISSE POPULAIRE DE LEVIS " ON 



FEBRUARY 14, 1905. 



Assets. 



Loans ... ... ... ... ... ... $25,631*18 



General expenses ... ... ... ... ... 15*50 



Cash on hand ... ... ... ... ... 6,920*87 



32,567*55 



LIABILITIES. 



Paid up capital ... ... ... ... ... $24,584-62 



Deposits ... ... ... ... ... 5,529*70 



Interest upon deposits ... ... ... ... 34*81 



Dividends (unpaid)... ... ... ... ... 408*20 



Total liabilities ... 30,557*33 



Entrance fees ... ... $40*90 



Reserve fund ... ... 1,306*76 



Provident fund ... ... 130*05 



Surplus ... ... 236*42 



Profits ... ... ... ... ... ... 1,714*13 



296*09 



32,567*55 



Certified correct, 



Levis. February 15th, 1905. 



(Signed) ALPHONSE DESJARDINS, 



President Manager, 



