STATE ADVANCES.

Hokitika Guardian, 15 October 1923, Page 4

STATE ADVANCES.

DEPARTMENT'S WORK. WELLINGTON. Oct. 11. Interviewed to-day the Minister in charge ot the State Advance, Oh'lc: slated : "The work which the State A dean- ' ces office is called on to do at pre.-.e;i; is unproedented, and it is quite impossible to cope with the applications received ns quickly as desired by those applying for loans, even through ‘.be utmost expedition is shown. The staff I lias been substantially increased to | overtake the extra business, lull o; it I If 10 applications for loans are received on tin l average every day. i\ mplaints about delay at, hardly b- v.,11 founded when it is stated tlmt. payments are being made out to borrowiv ■■ at an average rate ot C 119,900 |cr week, aml this amount tends to increase. A few further figures will indicate the immense task facing tic Department during the last *wo months "Over COKJ applications have 1. mi received, and the needs of applicant." exceeded £7,1X10.0')',. Loans authorised tor the last six mouths amounted t ' C 4.1125. til >7. whilst the amount aetua.lv paid over amounted to almost £—.-)*)!I.(KK). With reference to hunts for 'he same period for housing purpose* "viu a sum of £l.o(i;;.ii;i:i ha* been paid ior the purpose of erecting homes. vliiLt over lias been atlvaneed ii i the purchase of houses already "’cried. In addition a sum of £d!.2oi! la" been advanced to local bodies tor i.'e purpose of erecting workers' dwellings. For the six months ended Septem ier last the large sum of about .CHOI) OR!' lias been paid over for the purpose < - f repaying existing mortgages. ’I here are also other advances made on chattel securities, etc. "It is obvious Mint if applicants will onlv exercise patience and recognise the pressure of work under which the Department! is carrying on, in due -ou-'so their applications will be dealt with hip it. i* impossible to deal with eve'-y application immediately, as the vnl• t• ol the Valuation Department and the officers of the State Advances office are working under the utmost pressure, .til applications, including those front outlying parts, will in due course receive consideration, hut the more borrowers try to rush matters, the more inffiit'.ni will tend to take place in land and building costs, and their own liosL interests will lie served if they will ' unit their turn with as much paLietice a* possible." lit answer to a question the Minister said:—"l am advised that some applicants for loans, in their anxiety to get

CHIUS lIH limns. 111 Lll vll .UIM'-I; 1 ‘1 their houses built, are entering or have ! actually entered upon contracts, end • that in some eases houses are even .".I----d ready Iniilt before they have been i" i'll tied that nav loan has been granted, if s l bis is so these men are taking an "l- ---„ warrantable risk, as there is no -in 1 •>ntee that llieir loans will lie approved " hv the hoard nr that, if approved. II: y 0 will necessarily get ihe lull amount r asked lor. Thai depends, of course, a upon Ihe report made hv the IL-p r. • e ment’s valuers."