FARM LOANS IN DEMAND

Bay of Plenty Beacon, Volume 9, Issue 76, 20 May 1946, Page 8

FARM LOANS IN DEMAND

REHABILITATION FINANCE FIGURES FOR JANUARY Though, after passing the million pounds for the preceding three months, loans authorised by the Rehabilitation Board in January dropped to £965,725 the most notable feature of the month was the sustained business in farm loans. They numbered 101 and were valued at £419,144 compared with 96 valued at £332,407 in December which now ranks as the lowest for this class of advance in the four months from October last when farm loans first topped £400,000. The end of January broght the total loans authorised by the Board up to £15,651,989 distributed among 22,725 men and women of whom 20,695 had seen service in overseas units. The remainder had been made available to former home-service personnel, merchant seamen, war widows and dependants.

The retrogression in the January figures is accounted for mainly ,in advances for businesses and houses. The month’s 368 loans for the erection and purchase of houses were valued respectively at £197,740 and £232,664 as compared . with £256,425 ahd £342,566 for December. It should be noted however that these two classes of loan in December fell short of the November record total by only £563. The remaining notable fall was in loans for the establishment and acquisition of businesses. Numbering 103 valued at £61,152 they showed a drop on the December figure of £26,364. The total for this class of loan is now £1,282,856. Other figures bringing up the January total included free of interest furniture loans £53,442, free of interest loans for purchase of tools of trade, £1228, and miscellaneous advances £355. The figures under these minor headings were much the same as for December. The current total of the furniture loans is now £996,870. To the end of January the Rehabilitation Board had authorised help under various headings and expended money in the purchase and development of farms to the value of £2l, 508,960. Included in the figure is over live and three-quarter mid ion pounds made available for 16 ) 5 farmers. .