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