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 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.