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not the least pleasing to the recipient thisflatteringinscription :—" Presented to John Pascoe Fayvkner, of Pascoe Vale, the founder and manager of the Victoria Co-operative Freehold Land Society,forhis ability in originating, and his philanthropy and perseverance in maturing, the above Society, and for his diligence in putting each m e m b e r into full possession of a landed estate at the lowest possible cost, viz, £ i per acre. T h e shareholders gratefully present this Testimonial of their high approbation, and with their best wishes for his temporal and eternal happiness. Province of Victoria, Melbourne, 1851." A s an evidence of the wonderful fecundity ofthe germ from yvhich the first Building Society yvas evolved, six-and-thirty years ago, it may be stated that, at the end of 1880, little more than thirty-tyvo years, there were in Victoria forty-seven building societies, numbering 18,052 members, yvith a yearly income of £1,040,926, assets at date of balancing £2,804,295, and £2,352,808 liabilities. T h e advances during the year amounted to £564,411, and the societies had £829,941 in moneys on deposit. The Victorian Year Book, L886-y (Hayter's Tables), gives the folloyving statistics anent Building Societies:—Number of Societies, 6 0 ; N u m b e r of Investing Members, 19,907; N u m b e r of Borrowers, 16,250; Value of Landed Property, £ 3 9 1 , 6 9 8 ; A m o u n t of Paid-up Capital, £2,502,799; Amount of Deposits at end of the year, £2,910,792 : Advances under Periodical Repayments during the year, £2,358,729; Repayments by Instalments during the year, £1,526,221.