RURAL INTERMEDIATE CREDIT

Dominion, Volume 21, Issue 110, 7 February 1928, Page 8

RURAL INTERMEDIATE CREDIT

PERSONNEL OF BOARD COLONEL ESSON TO BE CHAIRMAN The personnel of the Rural Intermediate Credit Board was announced by the Prime Minister (Right Hon. J. G. Coates) yesterday. “The Act,” said the Prime Minister, “provides that the board shall consist of seven members, of whom the Public Trustee, by virtue of his office, shall be one, and the remaining members, of whom at least one shall have had practical experience of farming, shall be appointed by the GovernorGeneral, and shall hold office during pleasure. “The Public Trustee is to be the principal executive member of the

board, and in his capacity as such will be called the Commissioner of Rural Intermediate Credit. “His Excellency the Governor-Gen-eral has appointed the following six members: —

JOHN BROWN, of Lowcliffe, Canterburv, farmer. THOMAS'EUSTACE CORKILL, of Wellington, retired banker. JAMES JACOB ESSON, C.M.G., of Wellington, financial adviser to the New Zealand Government. NORTON FRANCIS, C.M.G., of Christchurch, company director. JOHN NORMAN MASSEY, of Puni, in the provincial district of Auckland, farmer. WILLIAM WADDEL, of Wellington, superintendent, State Advances Office. “The foregoing, together with JOHN WILLIAM MAGDONALD, the Public Trustee, of the Dominion of New Zealand, are to constitute the board. Chairman of Board. “In addition, the Governor-General has, under section 9 of the Act, appointed Colonel Esson to be chairman of the board, to hold office during pleasure. “The first meeting of the board is, under section 8 of the Act, to be held at a time and place to be appointed by the Minister,” added Mr. Coates. "As soon as the necessary, preliminary work', which, it will be realised, has been very heavy, has been completed in the direction of bringing the Act into oueration and linking up the machinery with the existing organisation of the Public Trust Office, the Act will be launched and applications for loans will be dealt with.”