Agricultural Credit Banks. 



45 



a bank and obtain what credit he wanted. Loans have been 

 granted for the purchase of beasts, sheep and pigs, for hire 

 of horse labour on small holdings and allotments, and for 

 repairing and improving glass houses. 



The following are three instances of productive advances 

 to members : — 



Case i. — One member borrowed £10, and bought some 

 ewes, which with their produce more than doubled the 

 amount before the time of repayment (12 months) arrived. 



Case 2. — A £20 loan to another member to repair his 

 cucumber and tomato houses, prevented them going further 

 into decay, and probably getting past repair. They are 

 now full of plants, and looking very prosperous. 



Case 3. — A £$ loan to a member five years ago bought 

 his first sow, and he has had pigs ever since. 



Many other similar instances could be given of the bene- 

 ficial effects of small advances did space permit. 



The number of members in the society last year was 50. 

 Nine loans varying in amount from £5 to £20 were granted 

 by the committee of management at 6 per cent, interest, 

 and the reserve fund on December 31st, 1901, was £10 9s. id. 



Another of the Agricultural Credit Societies affiliated with 

 the Co-operative Banks' Association is at Hedge End, in 

 Hampshire. It was established in February, 1896. 



The appended statement of its receipts and expenditure 

 last year, and capital account at the beginning of 1902, will 

 give a good idea of the small, but useful, financial opera- 

 tions of an English village bank. 



Secretary s Cash Summary. 

 From January 1st to December 31st, 1901. 



Receipts. 



£ 



To Balance as per last 



Account - - - o 8 11 



Loans repaid - - 171 00 



Interest on Loans - - 8102 



Entrance Fees - -050 



Deposits - - - 17 o o 



G.P.O. Interest - -050 



£i97 9 



Expenditure. 



£ 



140 10 o 



o 



By Loans advanced to Mem 

 bers - 



Interest on Deposits - 4 r4 



Printing - - -'-046 



Affiliation Fee to Co- 

 operative Banks' Asso- 

 ciation - - - 050 



Cash at Bank 5 10 7 



Cash in G.P.O. 40 s o 



45 15 7 



£^97 9 1 



