Credit Associations IN British Columbia. 381 



bushel. The value of the total imports of 1897 was £']60y^6o, 

 or 2s. 6d. per bushel. 



A relatively small proportion of the onions imported is 

 re-exported, the quantity shipped in this way in recent years 

 having been between 300,000 and 400,000 bushels annually. 

 The United States is the principal consignee in this trade. 



Agricultural Credit Associations in British 

 Columbia. 



A law has recently been passed in British Columbia pro- 

 viding' for the establishment of agricultural credit associations 

 in that country. Associations incorporated under the new 

 Act are to be managed according to regulations prescribed 

 by the Lieutenant-Governor in Council. The number of 

 members of any association is unlimited, but no member can 

 hold more than 1 50 shares, which must not exceed a face value 

 of lodols. (4IS. 8d.) each. The amount of premium, by way 

 of membership fee or otherwise, is to be not less than 5 dols., 

 to be charged upon the issue of shares, and the amount of 

 calls to be levied pro rata upon the shares of the association 

 for the cost of management must be provided by the rules of 

 the association. All premiums collected by the associations 

 must from time to time be deposited in the provincial treasury 

 to the credit of the association in an account to be opened 

 and kept by the Minister of Finance and Agriculture, and 

 known as the Agricultural Credits Associations' Guaranty 

 Fund, on such terms as to interest and otherwise as the 

 Lieutenant-Governor in Council may appoint. The Lieu- 

 tenant-Governor may guarantee the payment of the deben- 

 tures of any association, or, pending the issue of debentures, 

 may advance money to the association upon such terms as 

 he may think fit. In the event of the winding-up of any 

 association, the reserve fund, after payment of the liabilities 

 of the association, must be deposited in the treasury of the 

 province, to form part of the Agricultural Credit Associations' 

 Guaranty Fund, and shall be applicable towards payment of 

 any loss that the Government may have incurred. 



