Report of the Statistician Volume 81-91

Report of the Statistician Volume 81-91

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1891 edition. Excerpt: ...on loans made on personal security is usually somewhat liigh. At a rate of 10 per cent, the debtor has but 50 pfennigs (12 cents) to pay for a month's loan of 60 marks ($14.28). _ This interest sutfices to cover the expenses above enumerated. The association pays at the most 4% per cent to its creditors. Deducting 2 per cent for ofiice expenses, salaries of oflicers, clerks, etc., which is amply suflic ient, there remains 11 per cent. to 31 per cent surplus, which may be devoted to the payment of dividends and to the establishment of a reserve fund. In regard to the means adopted to assure the security of loans M. lo Barbier says: _ The first consideration is the solvency of the debtor, which depends upon his financial position, his moral character, and his business capacity. To determine this requires a knowledge of circumstances concerning each member of the association, which it is impossible for presidents to have. Hence recourse must be had either to the submittal of all questions concerning credit to an examining committee or else to the establishment by joint action ot' such a committee with the otficers of the association of a solvency record, wherein is set down the limit of the induhitable credit of each member-of the association. In either case there is a collaboration of a number of men worthy of the highest confidence. In localities of no great extent, where members are easily known to each other, the former method is preferable. Applica tion for credit is submitted to an investigation, with a view to ascertaining the pres-' ent situation of the applicant. The solvency record has much less flexibility. The personal guaranty of the borrower is, however, not sufiicient, and in addition one or two indorseinents are...
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Product details

  • Paperback | 326 pages
  • 189 x 246 x 17mm | 585g
  • United States
  • English
  • black & white illustrations
  • 1236897277
  • 9781236897275