OVER £1,000,000

Bay of Plenty Beacon, Volume 11, Issue 14, 9 April 1947, Page 3

OVER £1,000,000

REHABILITATION LOANS AUTHORISED IN FEBRUARY Recovering from the influence of the holiday period in January when they dropped to £791,851 for the month- Rehabilitation loan authorisations made during February were valued at £1,090,470. This figure brings the current total of authorisations to £34,369,471. The current totals of loans for various purposes bringing up the £34,369,471 now authorised are as follows:

Housing £16,405,977 (£8,681,746 for the purchase of existing dwellings are £7,724,231 for the erection of new homes); for the purchase or establishment of farms £13,481,897; for the purchase or establishment of businesses £2,570,313; free-of-inter-est furniture loans £1,826,971; free-of-interest tools of trade loans £33,155; miscellaneous advances £sl- -

As the January figures are abnormal the increased value of authorisations made in February as compared with January are misleading. A more useful comparison can be mode with the February figures of the previous year, when over the two months' period there was a closely parallel movement. They are given below: the figures are for February 1947 followed by those for February 1946 in parenthesis:— For the erection or purchase of homes 454 loans valued at -559,018 (520 valued at £602,911); for the purchase or establishment of farms 93 valued at £398,785 (105, £401,760); for the establishment or purchase of business 118 valued at

£78,719 (181, £124,953); interest-free furniture loans 582 valued at £53,086 (670, 62,066); interest-free tools of trade loans 9 valued at £317 (44, £1452); miscellaneous three valued at £545 (nine, £1278).

The total difference between the two months is approximately £IOO,000.