OFFICIAL WIRELESS

Hokitika Guardian, 12 May 1928, Page 2

OFFICIAL WIRELESS

[Special to Press Assn, by Radio.]

LOAFS FOP FARMERS. AIOPTGAGES TO BE ARRANGED RUGBY. Afay 9. The second reading of the Agricultural Credits Bill was moved in the House of Commons to-day by Colonel AY. E. Guinness, Minister for Agriculture. Colonel Guinness said that to provide the necessary long and intermediate and credits the Government was arranging to form a laud mortgage corporation which would lend on mortgage, either on land or on improvements. The corporations would bo formed bv the generous co-operation of the great banks, led by the Bank of England. These banks bad arranged to put up £650,000 of paid-up capital. The Minister spoke of the disinterested 'and patriotic attitude of the banks, because the return on their capital was to lie limited to -5 per cent. It was obvious that £050,000 of capital would be far too little to finance the long term needs of British agriculture, and it was proposed that further money needed to lend to fanners should he raised by sales of debentures issued in the money market. These debentures, being dealt with on the Stock Exhange, would allow the farmer to take a now source of credit.

TRANS-ATLANTIC ATAILS. FACILITATED BY AIR PORTS. RUGBY, Alav 9. The Secretary for AVar was asked in the House of Commons if he had under sympathetic observation the movements of Ireland and Canada to follow up the trans-Atlantic air flight of Alajor Fitzmaurice and bis comrades by establishing air ports in Ireland on the one hand at the entrance of the St. Lawrence on the other, for the collection and distribution of trans-Atlantic seaborne mails. Sir Samuel Hoare said that the establishment. of air ports in the Irish Free State was a matter for the Government concerned. He could promise that any development which was the result of the .employment of aircraft for the development of a transAtlantic mail service would receive the sympathetic consideration and cooperation of the Postmaster-General and himself.

Sir Samuel Hoare stated that six ■types of all-metal machines would he used in the British air service by the end of this year. The general policy of the Air Ministry was to push on with the development of all-metal machines. Britain was substantially in advance of any other country in this matter.

He hoped in the course of the current year that the airships RlOfl and ltdol would he flying.