9 8 



Agricultural Credit Banks. [may, 



satisfy the managing committee that the object for which the 

 loan is required is one that affords a reasonable security for his 

 being able to repay the loan at the date fixed ; and that the 

 operations of a society are confined to a small area in order that 

 the personal character and needs of applicants for loans may be 

 known to the members and committee. 



All the societies existing in the United Kingdom, with the 

 exception of fifteen (thirteen of which are town societies) are 

 registered under the Friendly Societies Acts as " Specially 

 Authorised Societies." The fifteen societies are registered as 

 Industrial and Provident Societies, with share capital and 

 limited liability. In a number of cases in Ireland, where 

 sufficient local capital has not been available at the commence- 

 ment of the society, loans ranging in amount from £50 to £100 

 have been advanced at a low rate of interest by the Congested 

 Districts Board, or by the Department of Agriculture. 



In the following table the progress of these societies during 

 each of the six years for which statistics are available is shown. 

 It will bs seen that in 1903, as compared with 1898, the number 

 of societies had multiplied five times and the membership four 

 times ; the capital had more than doubled; the amounts of loans 

 advanced and repaid had each multiplied about 2 J times ; while 

 the working expenses had doubled and the profits trebled : — 



Year. 



1898 

 1899 

 1900 

 1901 

 1902 

 1903 



CO cu 

 o ^ 



i3 a 



3i 

 48 

 64 

 81 

 114 

 154 



i| 



© 



2,659 

 3A72 

 5>oi5 

 6,014 

 7,921 

 10,509 



3 6 

 ° J 



£ 

 42,245 



47,5n 

 53,922 

 64,746 

 77,607 

 85,128 



Amount of Loans. 



Advanced 

 during Year 

 (including 

 Renewals). 



£ 

 H,955 

 17,773 

 17,975 

 20,058 



31,107 

 33,753 



Repaid 

 during year 

 (including 

 Interest). 



fcjo MO 

 a a 



£ 



IT, 734 

 12,712 



I4,46l 

 19,777 

 23,279 

 27,194 



£ 



1,396 

 1,658 

 1,901 

 2,012 

 2,671 

 2,938 



£ 



212 



309 



493 



568 



I 13 

 652 



Except in the case of the fifteen societies referred to above, 

 ■no dividends are paid by the societies, the profits, after working 

 expenses and interest on loans and deposits have been paid 



