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1 
 
 CREDIT FONCIER 
 
 FRANCO-CANADIEN. 
 
 CAPITAL, 
 PAID UP, 
 
 $8,000,000. 
 1,280,000 
 
 PARIS OFFICE, 
 QUEBEC OFFICE, 
 MONTREAL OFFICE, 
 TORONTO 0FFIC2, 
 
 3 RUE D'ANTIN 
 
 56 ST. PETER STREET 
 
 114 ST. JAMES STREET 
 
 - MAIL BUILDING 
 
 iisTZPORns^^A-Tioisr 
 
 RflBPKCTINO THE 
 
 OPERATIONS OF THE COMPANY 
 
 iQontceal : 
 
 1881. 
 
fA 
 
 iS> I. 
 
K,- ( 
 
 CREDIT FONCIER 
 
 FEANCO-CANADIEN. 
 
 CAPITAL, 
 PAID UP, 
 
 $8,000,000. 
 1,280,000 
 
 ''-:r- 
 
 PARIS OFFICE, 
 QUEBEC OFFICE, 
 MONTREAL OFFICF, 
 TORONTO OFFICE, 
 
 3 RUE D'ANTIN 
 
 56 ST. PETER STREET 
 
 114 ST. JAMES STREET 
 
 - MAIL BUILDING 
 
 IlSriFORDN^J^TIOIT 
 
 RESPECTING THE 
 
 OPERATIONS OF THE COMPANY. 
 
 iHontteal ; 
 
 1881. 
 
;n 
 
 
 it 
 
 •( J' 
 
K 
 
 BOARD OF MANAGMENT. 
 
 
 I 
 
 I 
 
 « 
 
 Paris Committee. 
 
 Brice, RENfe, Deputy, Censor of the Credit Fonder de France. 
 Brolemann, Georges, Director of the Sociiti Ginirale, the Credit 
 
 Lyonnais and the Banque Hypothicaire de France. 
 Hentsch, Albert, of the firm of Hentsch, Lutcher & Cie. 
 DucLERC, EuGfeNE, Sc.'ator, late Vice-President of the Senate, 
 
 Director of the Banque de Paris et des Pays-Bas. 
 HuARD, , Director of the Cridit Fonder Egypt ien, late 
 
 Director of the SociHi Ginirale. 
 M ANNBERGUER, FRfeofeRic, of the firm of Pirierfreres db Cie. 
 MoLiNARi, GusTAVE DE, Corresponding Member of the Institut, 
 
 late Chief Editor of the ''^ fournal des Debats " 
 
 Renault, Le:on, Deputy, late Prefect of Police, Director of the 
 Banque Hypothecaire de France. 
 
 Thors, Joseph Henri, Assistant-Manager of the Banque de 
 Paris et des Pays-Bas. 
 
 ( f* 
 
 JJ 
 
 Canadian Directors. 
 
 Beaudet, Elisee, M. P. P., Director Banque Nationale, 
 
 (Quebec). 
 Chapleau, Hon. J. A., Q. C, Premier of the Province of 
 
 Quebec. 
 Paquet, Hon. E. T.. M P. P., Provincial Secretary. 
 
 Thibaudeau, Hon. Isidore, President Banque Nationale, 
 
 {Quebec^. 
 Workman, Thomas, President Molson's Bank 
 
 Wurtele, J. S. C, Q. C, M. P. P., Officer of Public Instruction 
 of France. 
 
Ill 
 
 Censof 8. 
 
 Drolet, Gustave a., Advocate, Chevalier de la Legion d'ffon- 
 
 neur, (^Montreal). 
 Von Hemert, Charles Auguste, Banker, {Paris). 
 
 OFFICERS. 
 
 Fresidmt Hon. E. Duclerc, {Paris). 
 
 Vice-President Hon. J. A. Chapleau, {Montreal)^ 
 
 Delegate in Canada J. S. C. Wurtele, {Montreal). 
 
 Delegate in France J. H. Thors, {Paris). 
 
 MANAGERS. 
 
 Montreal Division. 
 
 Barbeau, Edmond J., Director of the Savings Bank, of the 
 London and Liverpool and Globe Insurance Company, and 
 of the Sun Mtttual Assurance Company. 
 
 Quebec Division^ 
 Beaudet, Elise:e, M. P. P., Director 0/ the Banque Nationale. 
 
 Ontario Division. 
 
 Walter Gillespie, late Commissioner of the Trust and Loan 
 Company of Canada. 
 
 \ 
 
 . SOLICITORS. 
 Montreal Division : Dfismfe Girouard, Q.C, M.P. 
 
 Quebec Division : Come A. Morisset, Q. C, and J. E. A. de 
 Sainte George. 
 
 Ontario Division : William H. Beatty, of Beatty, Miller, Biggar 
 & Blackstock. 
 
a. 
 
 y 
 
 OPERATIONS OF THE COMPANY. 
 
 The purposes of the Credit Foncier Franco-Canadien are : 
 I Hypothecary or mortgage loans, either for a long term with 
 payment by annuities, or for a short term without amortization. 
 
 II. Loans on security of hypothecary or privileged claims, or of 
 mortgages, either for a long term with payment by annuities, or 
 for a short term without amortization. 
 
 III. Loans, for long or short term, to municipal or school cor- 
 porations, or to fabriques. 
 
 IV. V^e acquisition, by way of transfer or subrogation, of hypo- 
 thecary r privileged claims or of mortgages on real estate. 
 
 V. The purchase of bonds and debentures issued by municipal 
 or school corporations, and by incorporated companies doing 
 business in the Dominion. 
 
 VI. The purchase of public funds. 
 
 The operations which the Company principally favors are hypo- 
 thecary or mortgages loans redeemable by annuities. 
 
 il / 
 
 CONDITIONS OF LOAN. 
 
 t,i> 
 
 * 1 
 
 ..■ •' "• GENERAL CONDITIONS. 
 
 The amount of a loan must not exceed the half of the estimated - 
 value of the real estate given as security. 
 
 The valuation is made on the double basis of net revenue and 
 
 market value. 
 
 The Company only lends on first hypothec or mortgage. It 
 does not accept as security :— mines and quarries, .wood lands. 
 
undivided properties, nor properties of which the usufruct and 
 the ownership are not combined. 
 
 A loan by means of which registered claims are to be repaid 
 is considered as made on first hypothec or mo* tgage. 
 
 If among the claims there are some which cannot be imme- 
 diately repaid, this circumstance will not prevent the realization 
 of the loan. The contract of loan makes mention of the fact 
 and a sufficient sum remains deposited in the hands of the Com- 
 pany till the moment when the registered claims can be repaid. 
 The sum thus retained yields for the profit of the borrower interest 
 at the rate of five per cent, per annum. 
 
 First hypothec or mortgage may be assured to the Company : 
 
 I St. By subrogation. 
 
 2nd. By grant of priority, or the cession of hypothecary rank 
 conferred by the prior creditor. 
 
 Hypothecated or mortgaged real estate which is liable to des- 
 truction by fire must be insured at the cost of the borrower; 
 and the indemnity due in case of loss must be transferred to the 
 Company. 
 
 The insurance must be effected with an approved company show- 
 ing guarantees of soundness ; it must be maintained during the 
 continuance of the loan. The Company reserves the right of 
 paying the annual premiums itself; and in such case the amount is 
 added to the annuity, or is re-paid half-yearly with the interest. 
 
 The borrower may pay before the stipulation term by paying 
 an indemnity on the capital repaid in advance of one and a-half 
 per cent. He profits by the reduction effected at the time by 
 means of his payments of the annuity. 
 
 Every partial payment causes a corresponding reduction in the 
 annuity or half-yearly interest, 
 
 The Company leaves to the borrower the choice of the notary, 
 so as to avoid any change in professional services. This rule is 
 departed from only in exceptional circumstances. 
 
 §11 
 
 LONG TERM LOANS. 
 
 The duration of these loans varies from 1 1 to 50 years, as the 
 borrower may desire. 
 
 + 
 
 r 
 
 \ 
 
 ( 
 
ci. 
 
 They are redeemable by annuities, comprising : the interest and 
 the amortization to be determined, according to mathematical rule,, 
 by the rate of interest and the duration of the loan. 
 
 They are made at an interest of six per cent, per annum. 
 
 The annuity is payable half-yearly, on the 1st of June and the- 
 1st of December. 
 
 The annuity must not be greater than the net revenue which the 
 property appears capable of yielding. 
 
 The interest only is due from the contracting of the loan to the 
 expiration of the first half-yearly term ; the first half-yearly pay- 
 ment of the annuity is paid at the expiration of the secorid tertn. 
 
 The distinctive character of loans of this nature is, that the suc- 
 cessive payment of annuities progressively extinguishes the capital 
 of the debt. In this way, after having paid during the period 
 agreed upon, the stipulated annuity the borrower is absolutely iree 
 from debt, while his annual payments have been but little more 
 than the amount of the interest. 
 
 The borrower owes only the amount of the annuities. As long as 
 he pays regularly, the Company cannot ask him for the repayment 
 of the capital ; but he has the option, if he desires it, to repay 
 at any time either the whole or a part of what remains due. 
 
 IN A word: the capital can never be demanded; — THE 
 DEBT IS progressively DIMINISHED ; — THE BORROWER HAS 
 ALWAYS THE PRIVILEGE OF PAYING IN ADVANCE. 
 
 In all these cases, the interest of the borrower is considered, 
 while that of the Company is subordinate. 
 
 The following tables of annuities, and of the progress of the 
 amortization complete the explanations which have been given. 
 
 «*% 
 
6 
 
 ..V- ,;' . TABLE ^ /./■' 
 
 Of annuities, calculated at the rate of six per cent, per 
 annum, according to the number of years fixed upon for 
 ■ the extinction of the debt. 
 
 ? 
 
 Duration of 
 
 Annuity per 
 
 Duration of 
 
 Annuity per 
 
 Loan. 
 
 $100.00. 
 
 • 
 
 Loan. 
 
 $100.00. 
 
 
 $ c. 
 
 
 $ c. 
 
 1 1 yrs. 
 
 12 68 
 
 31 yrs. 
 
 7 18 
 
 12 " 
 
 11 93 
 
 32 " 
 
 7 10 
 
 13 " 
 
 11 30 
 
 33 " 
 
 7 03 
 
 14 '* 
 
 10 76 
 
 34 " 
 
 6 96 
 
 15 " 
 
 10 30 
 
 35 " 
 
 6 90 
 
 16 " 
 
 9 90 
 
 36 " 
 
 6 84 
 
 17 " 
 
 9 55 
 
 37 " 
 
 6 79 
 
 18 " 
 
 9 24 
 
 38 " 
 
 6 74 
 
 19 «' 
 
 8 96 
 
 39 " 
 
 6 69 
 
 20 " 
 
 8 72 
 
 40 " 
 
 6 65 
 
 21 " 
 
 8 50 
 
 41 " 
 
 6 61 
 
 2J " 
 
 8 31 
 
 42 " 
 
 6 57 
 
 23 
 
 8 13 
 
 43 " 
 
 6 53 
 
 24 
 
 7 97 
 
 44 " 
 
 6 50 
 
 25 " 
 
 7 82 
 
 45 '• 
 
 6 47 
 
 26 " 
 
 7 69 
 
 46 " 
 
 6 44 
 
 27 " 
 
 7 57 
 
 47 " 
 
 6 42 
 
 28 " 
 
 7 48 
 
 48 -' 
 
 6 39 
 
 2;> " 
 
 7 36 
 
 40 " 
 
 7 37 
 
 30 " 
 
 7 27 
 
 [ 50 " 
 
 1 
 
 6 35 
 
 v 
 
mai 
 
 t 
 
 1 
 
 '. 7 
 
 V 
 
 \^ 
 
 4 
 
 TABLE 
 
 Of the progress from year to year of the amortization on $100, 
 borrowed for 15 years. 
 
 Years 1 Amount 
 ^^^^^•\ paid off. 
 
 Amount 
 
 remaining 
 
 due. 
 
 Years. 
 
 Amount 
 paid off. 
 
 Amount 
 
 remaining 
 
 due. 
 
 1 $4 30 
 
 2 8 85 
 
 3 13 68 
 
 4 18 79 
 
 5 24 22 
 
 $95 70 
 91 15 
 
 86 32 
 81 21 
 75 78 
 
 11 
 12 
 13 
 14 
 * 15 
 
 $64 32 
 
 72 48 
 
 81 12 
 
 90 29 
 
 100 00 
 
 $35 68 
 27 52 
 
 18 88 
 9 71 
 
 6 
 
 7 
 
 8 . 
 9 
 10 
 
 29 97 
 36 06 
 42 52 
 49 37 
 56 63 
 
 70 03 
 63 94 
 57 48 
 50 03 i 
 43 37 
 
 
 • ■■■••• 
 
 
J 
 
 TABLE 
 
 Shewing the progress from year to year of the amortization on 
 $100, borrowed for 20 years. 
 
 Y^ara. 
 
 Amount 
 paid off. 
 
 Amount 
 
 remaining 
 
 due. 
 
 Years. 
 
 Amount 
 paid off. 
 
 Amount 
 
 remaining 
 
 due. 
 
 1 
 2 
 3 
 4 
 5 
 
 $2 72 
 
 5 60 
 
 8 65 
 
 11 89 
 
 15 32 
 
 $97 28 
 94 40 
 91 35 
 
 88 11 
 84 68 
 
 11 
 12 
 13 
 14 
 15 
 
 16 
 17 
 18 
 19 
 20 
 
 $40 70 
 45 86 
 51 33 
 57 13 
 63 27 
 
 $59 30 
 54 14 
 48 67 
 42 87 
 36 73 
 
 6 
 
 7 
 
 8 
 
 9 
 
 10 
 
 18 96 
 22 82 
 26 91 
 31 24 
 35 83 
 
 81 04 
 77 18 
 73 09 
 68 76 
 64 17 
 
 69 79 
 76 70 
 84 02 
 91 77 
 100 00 
 
 30 21 
 
 23 30 
 
 15 98 
 
 8 23 
 
 
 I 
 
SP 
 
 J 
 \ 
 
 ^ 
 
 D 
 
 .c'- 
 
 TABLE 
 
 Shewing the progress from year to year of the amortization on 
 $100, borrowed for 25 years. 
 
 Years. 
 
 Amount 
 paid off. 
 
 Amount 
 
 remaining 
 
 due. 
 
 Years. 
 
 1 
 
 Amount 
 paid off. 
 
 $46 79 
 51 42 
 56 33 
 61 53 
 67 05 
 
 Amount 
 
 remaining 
 
 due. 
 
 1 
 2 
 3 
 4 
 2 
 
 $1 82 
 3 75 
 5 80 
 7 97 
 
 10 27 
 
 $98 18 
 96 25 
 94 20 
 92 03 
 89 73 
 
 16 
 17 
 18 
 19 
 20 
 
 $53 21 
 48 58 
 43 67 
 38 47 
 32 95 
 
 6 
 7 
 8 
 9 
 10 
 
 12 71 
 15 30 
 18 04 
 20 94 
 24 02 
 
 87 29 
 84 70 
 81 96 
 79 06 
 75 98 
 
 21 
 22 
 23 
 24 
 25 
 
 72 89 
 79 09 
 85 66 
 92 62 
 100 00 
 
 27 11 
 20 91 
 14 34 
 
 7 38 
 
 
 11 
 
 12 
 
 13 
 
 14.^ 
 
 15 
 
 27 29 
 30 75 
 34 42 
 38 30 
 42 42 
 
 72 71 
 69 25 
 
 63 58 
 61 70 
 57 58 
 
 • • • 
 
 • • • 
 
 • • • 
 
 • • • 
 
 
 
 
 
 
 
10 
 
 ( 
 
 TABLE 
 
 Showing the progress from year to year of the amortization on 
 $100, borrowed for 30 years. 
 
 Years. 
 
 Amount 
 paid off". 
 
 Amount 
 remaining 
 due. 1 
 
 Years. 
 
 Amount 
 paid off. 
 
 i 
 
 Amount 
 
 remaining 
 
 due. 
 
 1 
 2 
 3 
 4 
 5 
 
 $1 27 
 2 61 
 
 4 03 
 
 5 53 
 
 7 13 
 
 $98 73 
 97 39 1 
 95 97 1 
 94 47 
 92 87 
 
 16 
 17 
 18 
 19 
 20 
 
 $32 47 
 35 69 
 39 09 
 42 70 
 46 53 
 
 $67 53 
 64 31 
 60 91 
 57 30 
 53 47 
 
 6 
 7 
 8 
 9 
 10 
 
 8 82 
 10 62 
 12 52 
 14 54 
 16 67 
 
 91 18 
 89 38 
 87 48 
 85 46 
 83 33 
 
 21 
 22 
 23 
 24 
 25 
 
 50 59 
 54 89 
 59 44 
 64 28 
 69 40 
 
 49 41 
 45 11 
 40 56 
 
 35 72 
 30 60 
 
 11 
 12 
 13 
 14 
 15 
 
 18 94 
 21 34 
 23 88 
 26 58 
 29 44 
 
 81 06 
 78 66 
 16 12 
 73 42 
 70 56 
 
 26 
 27 
 
 28 
 29 
 30 
 
 74 83 
 80 58 
 86 68 
 93 15 
 100 00 
 
 25 17 
 19 42 
 13 32 
 
 6 85 
 
 
 4 ( 
 
( 
 
 J 
 
 11 
 
 ly f' 
 
 [ 
 
 J; 
 
 TABLE , , 
 
 Shewing the progress from year to year of the amortization on 
 $100, borrowed for 35 years. 
 
 4 ( 
 
 -; 
 
 ? I 
 
 Years. ; 
 
 Amount 
 paid off. 
 
 Amount 
 
 remaining 
 
 due. 
 
 1 
 
 ! 
 Years. 
 
 1 
 
 Amount 
 paid off*. 
 
 Amount 
 
 remaining 
 
 due. 
 
 1 
 2 
 3 
 4 
 5 
 
 $0 90 
 
 1 85 
 
 2 86 
 
 3 93 
 5 06 
 
 $99 10 
 98 15 i 
 97 14 
 96 07 
 94 94 
 
 21 ! 
 
 22 
 
 23 
 
 24 
 
 25 
 
 035 89 
 38 94 
 42 17 
 45 60 
 49 23 
 
 $64 11 
 61 06 
 57 83 
 54 40 
 
 50 77 
 
 6 
 
 7 
 
 8 ' 
 9 
 10 
 
 6 26 
 
 7 53 
 
 8 88 . 
 
 10 31 
 
 11 i-3 
 
 93 74 
 92 47 
 91 12 
 89 69 
 88 17 
 
 26 
 27 
 28 
 29 
 30 
 
 53 09 
 57 17 
 61 50 
 66 08 
 70 94 
 
 76 10 
 1 81 56 
 i 77 35 
 
 93 49 
 100 00 
 
 46 91 
 42 83 
 38 50 
 33 92 
 29 06 
 
 11 
 12 
 13 
 14 
 15 
 
 13 44 
 
 15 14 
 
 16 94 
 
 18 86 
 20 89 
 
 86 56 
 84 86 
 83 06 
 81 14 
 79 11 
 
 31 
 32 
 33 
 34 
 35 
 
 23 90 
 
 18 44 
 
 12 65 
 
 6 51 
 
 
 16 
 17 
 18 
 19 
 20 
 
 23 04 
 25 32 
 27 73 
 30 30 
 33 01 
 
 76 96 
 74 68 
 72 27 
 69 70 
 66 99 
 
 
 ! 
 
 
 
 i 
 
 
 
 
 
 1 • 
 
 1 
 
 
h 
 
 12 
 
 TABLE 
 
 Shewing the progress from year to yeai- of the amortization on 
 $100, borrowed for 40 years. 
 
 Years. 
 
 Amount 
 paid off. 
 
 Amount 
 
 remaining 
 
 due. 
 
 Years. 
 
 Amount 
 paid off. 
 
 Amount 
 
 remaining 
 
 due. 
 
 1 
 2 
 3 
 4 
 5 
 
 $0 65 
 
 1 33 
 
 2 06 
 
 2 83 
 
 3 64 
 
 699 35 
 98 67 
 97 94 
 97 17 
 96 36 
 
 21 
 22 
 23 
 24 
 25 
 
 $25 84 
 28 04 
 30 37 
 32 83 
 35 45 
 
 $74 16 
 71 96 
 69 63 
 67 17 
 64 55 
 
 6 
 
 7 
 
 8 
 
 9 
 
 10 
 
 4 51 
 
 5 42 
 
 6 40 
 
 7 43 
 
 8 52 
 
 95 49 
 94 58 
 93 60 
 92 57 
 91 48 
 
 26 
 27 
 
 28 
 29 
 
 30 
 
 i 
 
 38 22 
 41 16 
 
 44 28 
 
 47 58 
 51 08 
 
 61 78 
 58 84 
 55 72 
 52 42 
 
 48 92 
 
 11 
 12 
 13 
 14 
 15 
 
 9 67 
 10 90 
 
 12 20 
 
 13 58 
 15 04 
 
 90 33 
 
 89 10 
 87 80 
 86 42 
 
 84 85 
 
 31 
 32 
 33 
 34 
 35 
 
 54 79 
 58 73 
 62 90 
 67 32 
 
 72 00 
 
 45 21 
 
 41 27 
 37 10 
 32 68 
 28 00 
 
 16 
 17 
 18 
 19 
 20 
 
 16 59 
 
 18 23 
 
 19 97 
 21 81 
 23 77 
 
 83 41 
 81 77 
 80 03 
 78 19 
 76 23 
 
 36 
 37 
 38 
 39 
 40 
 
 76 97 
 82 23 
 87 81 
 93 73 
 100 00 
 
 23 03 
 
 17 77 
 
 12 19 
 
 6 27 
 
 
 1 
 
 ,?^. » ' 
 
pi 
 
 13 
 
 '^■.ii 
 
 \ 
 
 TABLE • 
 
 Shewing the progress from year to year of the amortization on 
 $100, borrowed for 45 years 
 
 Years. \ 
 
 Amount 
 paid oti. 
 
 Amount 
 
 remaining 
 
 due. 
 
 Years. 
 
 Amount 
 paid off. 
 
 Amount 
 
 remaining 
 
 due. 
 
 1 
 
 2 
 3 
 4 
 5 
 
 00 47 
 
 97 
 
 1 50 
 
 2 06 
 2 65 
 
 898 53 
 98 03 
 98 50 
 97 94 
 97 35 
 
 26 
 
 27 
 28 
 29 
 30 
 
 $27 81 
 29 94 
 32-21 
 34 61 
 37 16 
 
 $72 19 
 
 70 06 
 67 79 
 65 39 
 62 38 
 
 6 
 
 8 
 
 9 
 
 10 
 
 3 28 
 
 3 95 
 
 4 65 
 
 5 40 
 
 6 20 
 
 96 72 
 96 05 
 95 35 
 94 60 
 93 80 
 
 31 
 32 
 33 
 34 
 
 j 35 
 
 39 86 
 42 72 
 45 76 
 48 97 
 52 38 
 
 60 U 
 57 28 
 54 24 
 51 03 
 47 62 
 
 11 
 12 
 13 
 14 
 
 15 
 
 7 04 
 
 7 93 
 
 8 88 
 
 9 88 
 10 94 
 
 92 96 
 92 07 
 91 12 
 00 12 
 
 89 06 
 
 36 
 37 
 
 38 
 39 
 40 
 
 55 99 
 
 59 82 
 63 85 
 68 18 
 72 75 
 
 44 01 
 40 18 
 36 15 
 31 82 
 27 25 
 
 16 
 17 
 18 
 19 
 20 
 
 12 07 
 
 13 26 
 
 14 53 
 
 15 87 
 17 29 
 
 87 93 
 86 74 
 85 47 
 84 13 
 82 71 
 
 41 
 42 
 43 
 44 
 45 
 
 77 58 
 82 70 
 88 14 
 93 90 
 100 00 
 
 22 49 
 
 17 30 
 
 11 86 
 
 6 10 
 
 21 
 22 
 23 
 24 
 25 
 
 18 80 
 20 40 
 
 22 09 
 
 23 89 
 25 79 
 
 81 20 
 79 60 
 77 91 
 76 11 
 74 21 
 
 
 ( 1 * ■ • • • 
 
 
 
 • • 
 
 
 
 
 
 
 
M 
 
 , TABLE 
 
 Showing the progress from year to year, of the amortization on 
 0100, borrowed for 50 years. 
 
 
 
 
 Cb 
 
 vh r :-.■-.: ,^ 
 
 -,■■> .:■ -l^ 
 
 Tears. 
 
 Amount 
 paid ofif 
 
 Amount ' 
 
 remaining 
 
 due. 
 
 Years. 
 
 Amount 
 paid off 
 
 Amount 
 
 remaining 
 
 due. 
 
 1 
 2 
 3 
 4 
 5 
 
 $0 35 
 
 71 
 
 1 10 
 1 51 
 1 94 
 
 099 65 
 99 29 
 98 90 
 98 49 
 98 06 
 
 26 
 27 
 
 28 
 29 
 30 
 
 020 37 
 21 94 
 23 60 
 25 36 
 
 27 23 
 
 079 C3 
 78 06 
 76 40 
 74 64 
 
 72 77 
 
 6 
 
 7 
 
 8 
 
 , 9 
 
 10 
 
 2 40 
 
 2 89 
 
 3 41 
 
 3 06 
 
 4 54 
 
 97 60 
 97 11 
 96 59 
 96 04 
 95 46 
 
 31 
 32 
 33 
 34 
 35 
 
 29 21 
 31 30 
 33 53 
 
 35 88 
 
 38 38 
 
 70 79 
 68 70 
 00 47 
 64 12 
 61 62 
 
 11 
 12 
 13 
 14 
 15 
 
 5 16 
 
 5 81 
 
 6 40 
 
 7 24 
 
 8 02 
 
 94 84 
 94 19 
 93 50 
 92 76 
 
 91 98 
 
 „ 
 
 36 
 37 
 38 
 39 
 40 
 
 41 03 
 43 83 
 46 81 
 49 96 
 53 30 
 
 58 97 
 56 17 
 53 19 
 50 04 
 46 70 
 
 16 
 17 
 18 
 10 
 20 
 
 8 84 
 
 9 72 
 
 10 64 
 
 11 63 
 
 12 67 
 
 91 16 
 
 90 28 
 89 36 
 88 37 
 87 33 
 
 41 
 42 
 43 
 44 
 45 
 
 56 85 
 60 60 
 64 58 
 68 80 
 73 27 
 
 43 15 
 39 40 
 35 42 
 31 20 
 26 73 
 
 21 
 22 
 23 
 24 
 25 
 
 13 77 
 
 14 94 
 
 16 19 
 
 17 59 
 
 18 90 
 
 86 23 
 85 06 
 83 81 
 81 20 
 81 10 
 
 4<) 
 47 
 48 
 49 
 50 
 
 78 01 
 83 04 
 88 37 
 94 01 
 100 00 
 
 21 99 
 
 16 96 
 
 11 63 
 
 5 99 
 
 
1 
 
 •)n 
 
 §111 
 
 - -/si 
 
 SHORT TERM LOANS. 
 
 • The duration of these loans does not exceed ten years. ,/ ,» 
 
 The rate of intends! is six per cent, per annum. 
 
 The interest is payable half-yearly, on maturity, on the 1st of 
 June and the 1st of December. 
 
 The borrower may, at the expiration of the erm, if the condi- 
 tion of things is not changed, demand that the original contract 
 be replaced by a long term contract, with amortization. 
 
 " r 
 
 ' ' ' LOANS TO PUBLIC CORPORATIONS. 
 
 These loans are made, with or without hypothec or mortgage, 
 for a long term with amortization, or for a short term without 
 amortization. 
 
 The rate of interest is, as in the other cases, six per cent, per 
 annum. 
 
 Applications for loans must be accompanied by the following 
 documents : 
 
 In the Case of Municipal Corporations. 
 
 I St. A copy of the by-law authorizing the loan. 
 
 2nd. A copy of the approval of the Lieutenant-Governor in 
 
 Council. 
 3rd. A copy of the valuation roll. 
 4th. A certified statement of its debts. 
 
 ' In the Case of School Corporations. 
 
 I St. A copy of the by-law or resolution authorizing the loan. 
 2nd. A copy of the authorization of the Superintendent of 
 
 Public Ins* "ction. 
 3rd. A copy 01 r valuation roll. 
 4th. A certified statement of its debts. 
 
 In the Case of Church Corporations 
 
 I St. A copy of the resolution of the Fabrique relative to the 
 loan. 
 
16 
 
 2nd. A copy of the Bishop's authorization. 
 
 3rd. A copy of the resolution of the meeting of parishioners 
 
 giving their consent. 
 If the corporation offers an hypothec or a mortgage, the title- 
 deeds and the registrar's certificate must also be produced. 
 
 i 
 
 111 
 
 FOBUAUTIES ON AFFUOATIONS. 
 
 A person wishing to effect a loan must address to the Company 
 an application, setting forth : his name and domicile, and his civil 
 status ; — the amount, duration and nature of the loan which he 
 desires to effect; — the description of the real estate offered as 
 security, its situation, area, value and hypothecary status ; — and 
 the name of his notary. 
 
 The Company will furnish, on application to the Manager, all 
 the necessary printed forms. 
 
 In support of his application, the intending borrower must 
 produce : 
 
 1 . The titles of the property in his own person and in that of 
 his authors ; and an abstract of title running back, if possible, for 
 thirty years. 
 
 2. The leases, if any exist, or a statement of the rents, with 
 indication of the rents paid in advance. 
 
 3. A declaration of revenue and charges. 
 
 4. A certificate from the secretary-treasurer of the municipal 
 valuation ; and a statement of arrears of municipal and school taxes, 
 if there are any, or, if there are none, a certificate stating the 
 fact. 
 
 5. A certificate from the registrar showing the hyi)othecary 
 status. 
 
 6. The policy of insurance against fire, if any exists. 
 
 7. A declaration of the civil status of the borrower. 
 
 8. If married, his marriage certificate ; and the marriage contract, 
 if any exists. 
 
 9. If it is proposed to build, the plans and estimate of the build- 
 ings projected. 
 
 * ( 
 
 f 
 
• 17 
 
 The abstract of title should contain an analysis of the titles 
 under which the borrower possesses the real estate that he 
 offers as security, and of such charges and servitudes as may affect 
 it. It is desirable that this document should be pr>^pared by the 
 solicitor or notaiy of the borrower. 
 
 As soon as the documents have been received, the manager pro- 
 , ceeds, if he deems proper, to the valuation of the property offered 
 
 as security. This valuation is made with the utmost care. The 
 result, as well as the visit, is kep^ secret from third parties. 
 
 If the Board of Management is satisfied with the value of the 
 security, the examination of the title is pioceeded with. The 
 Company's solicitor verifies the right of i)roporty, the hypothecary 
 ' . status of the real estate and the civil status of the borrower. 
 ' ) • When the security is deemed sufficient and the title is found 
 
 to be perfect, the Board of Management determines what 
 amount may be loaned and the conditions on which the loan 
 can be made, and authorises the manager to effect it. 
 
 In case of acceptance by the borrower of the amount offered to 
 him, the execution and registration of the contract of loan, or of the 
 mortgage, is proceeded with. 
 
 A certificate is furnished, establishing the registration of the 
 contract and the hypothecary status from the date of the certifi- 
 cate produced with the application. 
 
 If no entry precedes that of the company, except those for the 
 claims which ate to be repaid with the loan, the loan is advanced. 
 If entries appear which change the position, the contract of loan 
 or the mortgage is annulled and its registration is cancelled. 
 
 Applications made by public corporations for loans without 
 hypothecary or mortgage security are first referred to the inspector 
 for verification of their position and sufficiency ; and then to the 
 solicitor of the Company for examination and verification of their 
 powers. 
 
 IV 
 
 EXPENSES ON LOANS. 
 
 To recoup the Company in part for the outlay for the valuation 
 and the examination of titles, the borrower will pay the sum"* men- 
 tioned in the following tariff : • 
 
18 
 
 TARIFF 
 
 OF CHARGES TO BE BORNE BY BORROWERS. 
 
 Charges. 
 
 Loans 
 
 8250 
 
 to 
 
 81000 
 
 Loans 
 81001 
 
 to 
 82000 
 
 Loans 
 82001 
 
 to 
 85000 
 
 Loans 
 85001 
 
 to 
 810000 
 
 Loans 
 810001 
 
 to 
 820000 
 
 Loans 
 820001 
 
 to 
 840000 
 
 Valuation 
 
 Examination ) 
 of titles ) 
 
 Total 
 
 82 00 
 4 00 
 
 84 00 
 
 8 00 
 
 86 00 
 12 00 
 
 88 00 
 16 00 
 
 810 00 
 20 00 
 
 812 00 
 24 00 
 
 86 00 
 
 812 00 
 
 818 00j824 00 
 
 830 00 
 
 836 00 
 
 When the sum exceeds $40,000 the charges are arranged 
 by special agreement. 
 
 Besides these charges, the borrower will have to pay the 
 necessary travelling expenses of the valuator. 
 
 If the title should not be satisfactory, the charge for examina- 
 tion will be only half the usual fee. 
 
 The borrower must pay the notarial fees and the registration 
 charges. * ' . >• 
 
 . In presenting his application the borrower must deposit the 
 amount indicated by the above tariff. When the property is in 
 the country, he must also deposit a sum sufficient for the valuator's 
 travelling expenses. 
 
 If, before the examination of titles, the value or goodness of the 
 security should be deemed insufficient, the valuation fee and 
 travelling expenses of the valuator are retained and the remainder 
 is returned to the borrower.