was calculated that the whole of the allotments made would be paid off
in four years.

_The Friendly Benefit Building Society_ was organised in 1859, and up to
Midsummer, 1883, the sums paid in amounted to L340,000. The year's
receipts were L21,834 19s. 6d., of which L10,037 came from borrowers,
whose whole indebtedness would be cleared in about 5-1/2 years. The
members on the books numbered 827, of whom 684 were investors and 143
borrowers. The reserve fund stood at L5,704 5s. 9d There is a branch of
this Society connected with Severn Street Schools, and in a flourishing
condition, 32 members having joined during the year, and L2,800 having
been received as contributions. The total amount paid in since the
commencement of the branch in June, 1876, was L18,181 13s. 11d. The
Severn Street scholars connected with it had secured property during the
past year valued at L2,400.

_The Incorporated Building Society_ comprises the United, the Queen's,
the Freeholders', and the Second Freeholders' Societies, the earliest of
them established in 1849, the incorporation taking place in 1878. The
aggregate receipts of these several Societies would reach nearly 3-1/2
millions. The amounts paid in since the amalgamation (to the end of
1882) being L1,049,667. As might be expected the present Society has a
large constituency, numbering 6,220 members, 693 of whom joined in 1882.
The advances during the year reached L78,275, to 150 borrowers, being an
average of L500 to each. The amount due from borrowers was L482,000, an
average of L540 each. The amount due to investors was LL449,000, an
average of L84 each. The borrowers repaid last year L104,000, and as
there was L482,000 now due on mortgage accounts the whole capital of the
society would be turned over in five years, instead of thirteen and a
half, the period for which the money was lent. The withdrawals had been
L85,409, which was considerably under the average, as the society had
paid away since the amalgamation L520,000, or L104,000 per annum. The
amount of interest credited to investors was L19,779. A total of
L100,000 had been credited in the last five years. The reserve fund now
amounted to L34,119, which was nearly 7-1/2 per cent. on the whole
capital employed.

_The Birmingham Building Society, No. 1_, was established in May, 1842,
and re-established in 1853. It has now 1,580 members, subscribing for
shares amounting to L634,920. The last report states that during the
exist