RURAL CREDITS.

Press, Volume LXVIII, Issue 20490, 8 March 1932, Page 13

RURAL CREDITS.

jggOCIATIONS AND BOARD CONFERENCE AT HAMILTON. <y£B®s ASSOCIATION TELESIIAM.} HAMILTON. March 7. fte first conference of its kind in Jjjwiino" between representatives jfCsral Credits Associations and memf, the Rural Intermediate Credit ■Unl iraa held at Hamilton to-day, 1 fifty delegates attending l'ro'm Safr Auckland. A Sjessage to the toutorence, the Mincer (the 111. Hon. G. W. «aid that tho growth ol' the yjnm its inauguration in lUzci yiiieca steadily maintained and the jflfa were a tourco of gratification fJSj Government. The fact that the jystem, to which no parallel had fuLrto existed in the Dominion, had jSJT enabled within four years to jdrances totalling no less than 407f184 to larmers at a reasonable •jL'pf interest and under conditions to the borrowers, was a zZSZr for congratulation. This satisfjgsult was a tribute to the care ~sj {rhicfc applications for loans were Zgjtfgtfd ano the watchfulness exerSTerer accounts after tho loans had Si completed. The Prime Minister appreciation of the services cf the Central Board, the Boards, and the directors and Mtco&V' officers of the Associations, tfgb c$ the service was purely volunMraod the whole farming industry ■aOlttar a debt of gratitude to them, "jjiheogh the present difficulties Mfhg the occasion hardly suitable for SSjate and rapid expansion of the gfaae, 1 feel satisfied that with a •flanuHe improvement in the prices dma&J products there will be great mm*?"' the expansion of the system, sttcaoscauent benefit to an increased yjoher of fanners." added Mr Forbes. careful administration of 1 Bmril and Associations will serve im iliiMiriirtmtf that even in times of ttfeaiScslty le rural credit system m J* uweesefolly administered, and Sn 4jho returning of a condition of Zjjjgfe $$ Bond will be in an exfo appeal to investors Dominion to provide in the Board's ifcttiqts witk the object of extending Ijfl the present facilities." ,' '#T ~ Finance. Ie chairman (Mr J laaid that the total ■ Board to Feb--15.. The total ider considerahad reached shown greater ther district, ions operating n, and there if more being dogistically to nation's direci Public rust in future the ► greater part subscribed by i debentures, of money was d not develop 1. id that tho ; the maintenkhiction, and lade available ipport of this harging existff nad been here this was id the present ed in ibis re)le the Board :nt of loans iod mentioned great danger aciations and ring to unfavwhere securiirever possible >s should be I such realisaiterests of the ny as possible ' to first mortie debenture ;nt Executive Auckland) for mber 31st, is of the Trust >n debentureal to 9.7 per ebentures and I series d.beny returns are idend income, nent transac--8.2 per cent, eries, and 6.1 he "A"-scries riture-holders. jf the revenue enture-holders' vith the conissue. ments held oii rs at the date 3.1 per cent, aid for them jmprise fortyand investNew Zealand New Zealand lso first mortinary or prefg, insurance, corporations up capital of es and unsred in May, believing that value of the was' then ap>ne all investirices reached rison between listed investthe same inthat had they rear the aver a 51 per cent. out with the apany (N.Z.). lilding, Auck res in either y obtain adof the faco s. There ar? its other than from the de•rency of the ling to avail' ilitics should sretary of the sale nt llethvcn stated that 402 !»tore lambs sylJ as 452, and tho