The functioning of the Co-Operative Business Association from the standpoint is most interesting, especially when it is understood that Mrs, Nieuw supervises the director, manager, accountant, and staff. There is noone else to assist her and to relieve! her of the constantly increasing harden of detail mounting: with the though she in, revels in the feces that prevail at Mah Chao, a counts her long working fours aaa cheap price te pay the contentnvent patent in the little community "where her." husband's Family has lived for more than 400 years.
The Association is divided into fear major departments. the frst termed the "Banking Department. Under this head, the Association vants short-time loans solely for reductive purposes such as the pur. [chase of seeds, fertilizers and farm Implements necessary' for the efficlene cultivation. of the plot in question, In this. connection, Alva Mien spoke regretfully of "the per cent, interest. which must be paid'on such loans, observing that husband has long since depleted capital in carrying. through fexpersnent," and, that he forced to secure' loans from Shang: hai banks at 12 per cent. "The people have to re-pay in such minute Sans'over auch along. period that 2'per ent, barely covers. carrying charges, and soy with all the other expenses incident to continuing the stork, without any. very" substantial outside, help, except. the $100 per} month: fromthe: provincial governs ment for use by the Experimental Station only, we have to charge the 11 per cent' on short time loans. wish'ie were not 30, Current Savings Accounts axe for" association members and bear 8 per cents interest, while Tong. term savings accounts draw 10 pot cent, interest per. annum for their owners, Another special privi provided through this department the' storing of rains, for which the current market price is advanced to° the farmer. In short, he may Bring? hin ie to the. ANsocaton, ind fe prices ave low on the market, ander the "association, to hold. his tice until the price vises. In. thie fuse, the Assogiation wi advance She current price of grain in cash the form of & mortgage which carviea the member. At nay time the
sell his grain, depositing to, taper order, he' Aurciation Account amy profit in excess of the money advanced, However, should the market drop, the Associate. alligated to ay' interest upon the Afference in price, The Association sti no time. assuniex reaponsibalty ox the fuettation of the Tenves the farmer's decision in award tothe time to. sell: strictly progress when it is recalled that originally Mrs, Nien capitalized the few daring souls who ennside; red Felongieg to the Association sim; ply because it was guaranteed by the Nieuw family. She was apologetic that her efforts should have resulted in a total so modest. Rather should [she be justly proud of the tremendous story of thrift, economy and faith the few figures reveal for were there no Gen, and Mrs. Niew, the proud possessors of bank accounts: might still be providing food and clothing barely necessary for themselves and their families and think-accounts as prerogatives of the rich and idle,
Text read from the printed page and cleaned; old type leaves the occasional error.