528 societies
making a return of liabilities, which were to the holders of shares
L29,351,611, and to the depositors L16,351,611. There was a balance of
unappropriated profit to the extent of L1,567,942. The assets came to
L44,587,718. In Scotland there were 15,386 members of building
societies; the receipts were L413,609, the liabilities to holders of
shares amounted to L679,990, to depositors and other creditors L268,511;
the assets consisted of balance due on mortgage securities L987,987, and
amount invested in other securities and cash L67,618. In Ireland there
were 9,714 members of building societies; the receipts were L778,889,
liabilities to the holders of shares L684,396, to depositors and others
L432,356; the assets included balance due on mortgage securities
L1,051,423, and amount invested in other securities L79,812. There were
150 of the English societies whose accounts showed deficiencies
amounting to L27,850; two Scotch societies minus L862, but no Irish
short. It is a pity to have to record that there have been failures in
Birmingham, foremost among them being that of the Victoria Land and
Building Society, which came to grief in 1870, with liabilities
amounting to L31,550. The assets, including L5,627 given by the
directors and trustees, and L886 contributed by other persons, realised
L27,972. Creditors paid in full took L9,271, the rest receiving 8s. 9d.
in the pound, and L4,897 being swallowed up in costs. The break-up of
the Midland Land and Investment Corporation (Limited) is the latest.
This Company was established in 1864, and by no means confined itself to
procuring sites for workmen's dwellings, or troubled about getting them
votes. According to its last advertisement, the authorised capital was
L500,000, of which L248,900 had been subscribed, but only L62,225 called
up, though the reserve fund was stated to be L80,000. What the dividend
will be is a matter for the future, and may not even be guessed at at
present. The chief local societies, and their present status, areas
follows:--

_The Birmingham Freehold Land Society_ was started in 1848, and the
aggregate receipts up to the end of 1882 amounted to L680,132 12s. 7d.
The year's receipts were L20,978 16s. 5d., of which L11,479 represented
payments made by members who had been alloted land on the estates
divided by the Society, there being, after payment of all expenses, a
balance of L11,779 12s. 9d. The number of members was then 772, and it