SHARP RISE

Bay of Plenty Beacon, Volume 11, Issue 25, 7 May 1947, Page 3

SHARP RISE

REHABILITATION LOANS ASSISTING EX-SERVICEMEN Continuing the upward movement which followed the low figures relating to the Christmas-New Year holiday period Rehabilitation loan authorisations for March were valued at £1,342,175. The figure is just a quarter of a million pounds above that for February and corresponds very closely with the £1,447,757 authorised in March of the previous year.

Generally speaking loan authorisations have shown a movement closely parallel to that over the same period 12 months ago and they are again on the consistently high level established before the' intervention of the holidays. The total of £1,342,175 for March was made up as follows: For the erection or purchase of homes £641568 (the respective sub-totals being £324,890 and £316,678); for the prchase or establishment of farms £558,323; for the establishment or purchase of businesses £83,528; in-terest-free furniture loan £57,331; in-terest-free tools of trade loans £250; and miscellaneous advances £1175.

Increases were shown in all types of loans with the exception of those for tools of trade in which there was a decrease of £67. The major part of the quarter of a million pounds increase over the February figures was accounted for by farming and residential loans. The increases were respectively £159,538 & £82,550. The other increase over the February figures were business loans £4809, furniture loans £4245, and miscellaneous purposes £630.