RURAL CREDITS.

Auckland Star, Volume LX, Issue 228, 26 September 1929, Page 10

RURAL CREDITS.

EXTENSION OF FACILITIES. APPROVED BY THE BOARD. (By Telegraph.—Press Association.) WELLINGTON, this day. At jts monthly meeting the Rural Intermediate Credits Board last month considered proposals submitted by Commissioner Mac Donald for the introduction of a system to meet the needs of farmers, such as sheep farmers and those engaged in mixed farming, whose requirements fluctuate according to various seasons of the year. Under the eystem outlined provision would be made for approving limits proportionate Jo the value of the borrower's live and dead stock, and, if necessary, collateral /security up to which he would be entitled to receive advances as and when he required money to meet current outgoings.

These proposals received the general approval of the board in principle, but members thought it desirable to submit them to the district boards and cooperative rural intermediate credit associations throughout the Dominion, in order that they might be fully .apprised of the system and have an opportunity of submitting suggestions as to procedure necessary to put the proposals into effect.

The various < comments by district board members and directors of cooperative rural intermediate credit associations were considered by the board at its meeting this week, and effect will be given to a number of suggestions inade. This extension of facilities is of particular interest in view of the proposal now under consideration to increase the maximum for individual loans to £2000.