I, pp.

290, 297-298, 484, and 486.] [Footnote 12: The figures here given and the description of methods apply to the "local" building and loan associations.

The success of this kind led to the organization of other associations which took the name "National" building and loan associations, to carry on a business in a larger field.

The number of these has always been comparatively small, and their operation is less simple, democratic, and economical than the local associations.

They have borne more of the nature of ordinary profit-making enterprises.