Facsimile · p. 43
- 33 -1909 1910 Average Advances Value Average Advances Value Advances B £E 404 408 95 813,691 ... £E 300 300 to £E 300 300 104,443 4,250 988,359 4,204 ... £E 300 to £E 300 300 918,134 730 6,606 119,921 ... Total Advances B Advances A 111,955 104 196,161 ... Total Advances 1,030,089 441 1,306,082 3,741 And from the total advances of the year 1910, the aforementioned amounts must be deducted, representing the value of advances paid to the bank previously, and returned. Their total amounted to a large sum of £E 4,403, distributed as follows: Average Advances Value £E 4,241 310,040 £E 34,965 94,363 5,340 404,403 Total Many large advances were transferred to other currencies for mortgage loans with easier terms than the Agricultural Bank's terms. As for advances exceeding £E 30 in value, the amount returned was not much less than the amount of advances made during the year. The result was that the bank was deprived of a significant part of its business. If the bank does not reduce the interest rate it charges on large advances, it is likely to recover that, as there is a lot of money that wants to be invested in mortgage loans now. As for the advances of the year 1911, the latest news about the crops in Upper Egypt