French limited company, incorporated on December 15, 1906, for a period of 75 years.

The purpose of the company was: All operations of mortgage loans and advances on mortgage guarantees.

The company was subject to Brazilian laws; it was authorized to operate in Brazil by decree of 1907, statutorily reserving the right to transform itself into a Brazilian company.

Share capital: 100,000 francs, increased to 1 million in 1910 to 12,500,000 francs in 1911 and in 1912 to 50,000,000 francs, then 200,000,000 francs.

Founder's shares: 20,000 founder's shares were created.

The Board of Directors consisted of 6 to 17 members, appointed for 6 years, owners of 20 shares. In France: Messrs. Reille, by Anthouard de Wasservas, Bouilloux-Lafont, Quellenec, Richou, Le Bourdais des Touches, A.Lazard, A.Melian; in Brazil: Messrs. J. Teixera Soares, Grandmasson, P. da Cunha, Rego Monteiro, Chogas-Dorias, J. Cardozo de Almeida, Bouilloux-Lafont.