Smith, whilome secretary of the Manchester Order of Odd Fellows, and
afterwards publisher of the _Birmingham Mercury_ newspaper. Being
possessed of a small estate of about eight acres, near to the Railway
Station at Perry Barr, he had it laid out in 100 lots, which were sold
by auction at Hawley's Temperance Hotel, Jan. 10, 1848, each lot being
of sufficient value to carry a vote for the shire. The purchasers were
principally members of an Investment and Permanent Benefit Building
Society, started January 4, 1847, in connection with the local branch of
Oddfellows, of which Mr. Smith was a chief official. Franchise Street,
which is supposed to be the only street of its name in England, was the
result of this division of land, and as every purchaser pleased himself
in the matter of architecture, the style of building may be called that
of "the free and easy." Many estates have been divided since then,
thousands of acres in the outskirts being covered with houses where erst
were green fields, and in a certain measure Birmingham owes much of its
extension to the admirable working of the several Societies. As this
town led the van in the formation of the present style of Land and
Building Societies, it is well to note here their present general
status. In 1850 there were 75 Societies in the kingdom, with about
25,000 members, holding among them 35,000 shares, with paid-up
subscriptions amounting to £164,000. In 1880, the number of societies in
England was 946, in Scotland, 53, and in Ireland 27. The number of
members in the English societies was 320,076, in the scotch 11,902, and
in the Irish 6,533. A return relating to these societies in England has
just been issued, which shows that there are now 1,687 societies in
existence, with a membership of 493,271. The total receipts during the
last financial year amounted to £20,919,473. There were 1,528 societies
making a return of liabilities, which were to the holders of shares
£29,351,611, and to the depositors £16,351,611. There was a balance of
unappropriated profit to the extent of £1,567,942. The assets came to