22
At seven agricultural banks the accounts system was mechanised. Thanks to the assistance of
the Inspection Service of the Central Bank, the conversion was effected practically without any
hold-ups.
Owing to the expansion of the activities of the local agricultural banks, the use of forms,
books and card indexes increased substantially.
We regret to say that machinery or office equipment purchased on several occasions by agri
cultural banks without the advice of the Business Organisation Department subsequently proved
unsuitable for their businesses.
Also as regards printing by agricultural banks of forms prescribed by the Central Bank we
wish to add a word of warning; it sometimes happens that obsolete forms are reprinted, with un-
pleasant consequences both for the local agricultural bank and for the Central Bank as well.
Cash, Securities and Foreign Exchange. Cash transactions by the Central Bank reflected the
general trend of cash turnovers in 1951. Whereas the opening of hostilities in Korea in 1950 had
led to our having very high total cash turnovers, these gradually decreased again in 1951 and the
figures ultimately remained rather below those of 1950. Payments by agricultural banks amounted
to fl. 56 million (in 1950: fl. 58 million); the amount taken up was fl. 260 million (in 1950: fl. 267
million)
The drop in debenture quotations, particularly after April, caused very many customers to
avail themselves of the opportunity to pay their assesments for Capital Increments Tax and Capital
Levy by means of Government Stock, which gave them a rebate of about 15%. The further
settlement of Stocks and Bonds Registration and the conversion of the last scrip certificate of the
3% Investment Certificates (together with the relative sale, "open"' deposit or forwarding of the
certificates) affected the work of our Securities Department this year. The issue of Agricultural
Bank Deposit Receipts was attended to and regular assistance was given with the issue of debent-
ures and shares bij agricultural co-operatives.
The expansion of our Foreign-Exchange Department continued. In particular there was a sub-
stantial increase in payments traffic with the United Kingdom, Belgium and Germany, for our
customers in agriculture and horticulture.
Accounting. During the year there was further increase in the number of items booked. From
an average of 3000 in 1950 the figure rose to an average of 3500 items per day.
The regular despatch of daily copies of accounts to the affiliated agricultural banks and to
our other customers has made possible a very effective daily check on the accuracy of the
entries.
Clearing. There was a further development in the work of the Central Bank Clearing
Department conforming to the increase in current transactions at the local banks. In 1950 over
fl. 1,700 million was transferred via the Central Bank and in 1951 the fl. 2,000 million was ex-
ceeded by over fl. 153 million. Payment instructions received from affiliated agricultural banks
totalled fl. 376 million; from other banks to a total of fl. 622 million and from Central Bank
customers fl. 1,155 million. Of the 700,000 payment instructions over 400,000 came from affil
iated agricultural banks.
Legal Department. In the provision of advances and credits by the local agricultural banks an
increasing number of cases occurred in which it was not possible to use one of the many Standard
forms stocked by the Central Bank. For all such cases special documents had to be prepared
which differed more or less from the usual forms.
The preparation of such documents required great care and a considerable amount of time
during the year owing to the considerable expansion of authorised advances and credits.
Besides this the preparation and execution of many projects aimed at intensifying agriculture
and horticulture involved a great amount of additional work. Official assistance in regard to financ-
23
ing given in the form of guarantees and subsidies necessitated constant negotiation with many
official bodies; this negotiation resulted in various new regulations. Furthermore in many cases it
was possible to give information and to provide legal assistance in establishing Potato Depots,
K.I. Associations, Green Fodder Drying Plants and so on.
Much advice of a purely legal nature had to be given not only on problems directly affecting
the agricultural banks but also in regard to reconstruction and the settlement of war damage,
questions regarding stamp duties and so on.
Compared with last year the recovery of bad debts remained practically stationary, while there
were virtually no bankrupcies among the members of our agricultural banks. We consider ourselves
justified in concluding from this that in agriculture and horticulture the general condition of busi
ness is still healthy although a cautious and conservative policy by the managers of our banks has
undoubtedly made its contribution. We trust that matters will continue so in future.
Agricultural Banks. We consider it a privilege to pay a tribute here to the agricultural banks
which in 1952 completed
FIFTY YEARS
of a social function based on Christian principles on behalf of farmers and growers. The agricul
tural banks twenty in number which are celebrating their Golden Jubilee are:
Aarle-Rixtel founded
12th
January
1902
St. Odiliënberg founded
8th
May
1902
Donk
17th
November
1902
Ossendrecht
30th
November
1902
Drunen
27th
February
1902
Oudenbosch
21st
February
1902
Eersel
15th
June
1902
Posterholt
lOth
March
1902
Herten
21st
December
1902
Spaarnwoude
27th
November
1902
Lage Zwaluwe
26th
April
1902
Stramproy
19th
October
1902
Lith
9th
February
1902
Venlo
9th
March
1902
Maasbommel
23rd
November
1902
Vlodrop
Hth
September
1902
Made
20th
July
1902
Vorstenbosch
3rd
August
1902
Naaldwyk
19th
June
1902
Wehl
21 st
February
1902
In 1951 the following agricultural banks joined our Central Bank as members:
The newly founded Coöp. Boerenleenbank, Venhorst (N.Br.);
The Coöp. Boerenleenbank, Spaar- en Voorschotbank, Kerkrade (L.which was already in
existence;
The newly founded Coöp. Boerenleenbank, Zoetermeer (Z.H.);
The Coöp. Boerenleenbank, de Weere (Abbekerk) (N.H.), which was already in existence;
At the end of 1951 the number of affiliated agricultural banks was 588, classified according
to district as follows:
North Brabant
209
North Holland
30
Limburg
162
Zeeland
11
Gelderland
74
Utrecht
8
Overijssel
46
Drente
7
South Holland
34
Friesland
7
Interest. During the year 1951 the following rates of interest applied to transactions with the
affiliated agricultural banks:
call money: 2.5%;
6 months deposits: up to 30 June 1951: 2.75%, thereafter 2.875%;
one year deposits: up to 30 June 1951: 2.875%, thereafter 3%;
