I understand that the Abbey Road Building Society -
during the year ended December 31st, 1933, advanced on carefully selected mortgage securities over 16,400,000, which • represents a substantial increase on the corresponding figure of £3,548,690 for the preceding year. The rate of interest for advances was reduced in the spring of 1933, and the increase in advance business during the year partly reflects a widespread appreciation of the economical terms of house purchase at present in force. The Society's total assets have expanded to 141,800,000. With the allocations made for the past financial year the total of the Society's reserves now exceeds £1,500,000.
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