382 Credit Associations in British Columbia. 



The associations are authorised to raise money by loans or 

 debentures, bearing not more than 6 per cent, interest, to an 

 amount not exceeding two -thirds of their share capital, and 

 to receive money on deposit from members. Loans are to be 

 made to members for the purpose of draining, clearing, or 

 cultivating the lands held by them, for fencing or buildings, 

 or for the purchase of live stock, implements, and other farming 

 effects, and to assist in co-operative dairying and farming. 

 No dividend can be paid on the shares, but all profits and 

 earnings are to be placed to the reserve fund. 



The supreme authority in an agricultural credit associa- 

 tion is to be vested in the general meeting of members, at 

 which every member has a right to attend and vote on all 

 questions, but no member can exercise more than one vote 

 whatever may be his interest in the association. The current 

 business is to be entrusted to a committee of management 

 consisting of five members elected annually; and in addition 

 a council of control may be elected consisting of at least six 

 members. The members of the committee and council will 

 receive no remuneration for their services. A secretary and 

 also a treasurer may be appointed by the committee, or the 

 same person may discharge both offices, and may, with the 

 approval of the general meeting, draw a salary as treasurer. 

 A member having in the opinion of the association committed 

 anyaction calculated to injure the association maybe expelled 

 by resolution of a general meeting of the members. 



All property, both real and personal, acquired on behalf of 

 a credit association, is vested in the association, which may 

 contract and sue as a corporation. 



\_U.S, Constdar Reports, July and Sept., i8g8.] 



French Forestry. 



The French Forest Regime was instituted in the year 

 1825, and since the year 1840, which, so far as statistics show, 

 may be taken as the period when the area of the woods was 

 at its lowest figure, increasing attention to their maintenance 



