Miscellaneous. 



tlS 



[Fran. 1007. 



DISBURSEMENTS. 



Loans ... 

 Interest on deposits 

 Dividends 

 General expenses... 

 Cash on hand 



Withdrawals of shares 

 do on deposits 



$5,358-48 

 0,727-52 

 10h554'94 

 205-20 

 1,189-82 

 187-65 

 6,920-87 



125,144-33 



Certified correct, 



Levis, February 15th, 1905. 



(Signed) ALPHONSE DESJARDINS, 



President Manager. 

 Benefits Derived By Shareholders and Community. 



Mr. Desjardins, the president and manager of the society, states that the 

 great majority of the share-holders of " La Caisse Populaire de Levis," are working 

 men, most of whom hold two or three shares each. Nearly 700 different loans have 

 been made since the establishment of the society, to about 100 different borrowers, 

 in jnms varying in amounts from $1 to $500, the majority averaging from $50 

 to 5100. Most of the loans have been made for a period ol four months, and have 

 been to small traders, mechanics, farmers, and others, to 6nable them to make 

 advantageous purchases, to tide over temporary difficulties and to meet pressing 

 demands. Of all the loans made not a single borrower has failed to make payments 

 of the amounts advanced. 



It is, so Mr. Desjardins states, the general consensus of opinion of the share- 

 holders that but for the establishment of this savings and credit society not $2,000 

 out of the $32,500 sv hich has been deposited in the bank in the form of shares and 

 deposits would have been saved. Among the shareholders are many young men who 

 are apprentices or mechanics and who commenced with taking only one share, and 

 have at the present time as much as .$200 laid aside in the form of paid-up shares or 

 deposits. These amounts have been accumulated chiefly through the opportunity 

 afforded of acquiring shares by the payment of small amounts in weekly or monthly 

 instalments. Having commenced by making a weekly deposit of 10 cents, may have 

 acquired the habit of depositing regularly with the bank and have shown a dis- 

 position to increase the amount of their deposits from month to month and year 

 to year. 



Not only have the members of the society received assistance by way of 

 advances and acquired habits of thrift from the practice of making regular deposits, 

 but not a few have been saved from serious embarassment and from extortion at the 

 hands of usurers. The operations of " Caisse Populaire de Levis" are restricted to 

 the town of Levis and the parishes of St. David and St. Louis, the total population 

 of the area being about 7,500. To serve the financial needs of this locality there are 

 four large banks, as well as the post office savings bank. 



Up to the present time the business of " La Caisse Populaire de Levis" has, 

 been conducted almost entirely by Mr. Desjardins himself. He has given his services 

 gratuitously and has had the office of the society in his own residence. For the 

 convenience of the working-classes, an office has been opened on Saturday nights in a 

 central part of the city, at which office deposits are made by working men after the 

 receipt by them of their weekly wages. The business of the society has grown so 

 considerably and rapidly that the necessity of having a regular office with paid 

 assistants is becoming more and more urgent. 



