RURAL CREDIT ACT

Hokitika Guardian, 7 February 1928, Page 2

RURAL CREDIT ACT

APPOINTMENT OF BOARD. (Uv Telegraph—Per Press Association.) WELLINGTON. Fob. 6. The Right Hon. the Prime Minister, Mr J. G. Coates, announces that the following is the personnel of tho Board to he set up under the Rural Intermediate Credit Act (1927). The Act provides that the Board shall consist of seven members, of whom the Public* trustee, by virtue of his office, shall be one. The remaining momliers of "'horn at least one shall have had practical experience of farming, shall be appointed by the Governor-General, and shall be called “The Commissioners oi Rural Intermediate Credit.’’ His Excellency the Governor-General lias appointed the following six members:—John Brown, of Lowcliffe, Canterbury. farmer; Thomas Eustace Cork ill. of Wellington, gentleman, retired banker; James Jacob Essen, C.M.G., of Wellington, financial adviser to the New Zealand Government ; Newton Francis. 0.A1.G,, of Christchurch, company director; John Norman Masse.v, of Puni. in the provincial district of Auckland, farmer: William Waddell, Wellington. Superintendent of State Advances Office. The foregoing, together with John William MacDonald, the Public Trustee, of the Dominion of New Zealand, are to constitute the Board. In addition, the Governor-General as under Section 9 of the Act. appointed .Tamos Jacob Essen to lie chairman of the Board to hold office during the pleasure of the first meeting of the Board, which is, under Section 8 of tl>e Act. to la? held at a time and place to Ire appointed by the Minister. 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 in*o operation, and linking up the Public Trust Office, the Act will lie launched, and applications for loans will be dealt with.