42

INTRODUCTION.

to  Incorporated  Building  Societies  under  tire  Act
of  1874,  tlie  smaller  sums  belonging  to  Trades
Unions  and  Loan  Societies;  and  the  unknown
amount  invested  in  Benefit  Building  Societies
under  the  Act  of  1836  and  in  Friendly  Societies
which  have  failed  to  make  returns  or  are  wholly
unregistered,  we  get  a  truly  marvellous  aggregate
of  associated  economies.
79.  As  a  quinquennial  period  has  now  elapsed
since  the  passing  of  the  Friendly  Societies  Act,
1875,  it  may  not  be  undesirable  to  conclude  these
introductory  remarks  by  some  account  of  the
operation  of  the  Acts  during  that  period;  or  rather
during  the  four  years  ending  31st  December;
1879,  in  respect  to  which  alone  information  has
yet  been  published.  In  these  four  years  643  new
Friendly  Societies  and  1,263  new  Branches  of
Societies  were  registered,  while  4,502  existing
Registered  Societies  converted  themselves  into
branches  of  Orders.  Under  the  same  Act  98
Working  Me  As  Clubs,  8  Benevolent  Societies,  6
Cattle  Insurance  Societies,  and  30  specially
authorized  Societies  were  registered.  During  the
same  time  as  many  as  8,142  amendments  of  rules
(about  half  of  them  being  complete  sets  of  new
rules)  were  made  by  societies  and  registered.
80.  The  most  important  new  element  which
was  introduced  by  the  Act  of  1875  into  the  legal
obligations  of  Friendly  Societies  is  that  of  the
periodical  valuation.  By  section  10  (6)  the
Chief  Registrar  is  required  to  include  in  his
Annual  Report  to  Parliament  a  statement  of  the
valuations  returned  to  him  during  the  year.  The