RURAL CREDIT SCHEMES

Hokitika Guardian, 13 July 1929, Page 6

RURAL CREDIT SCHEMES

NOT MANY ADVANCES YET. P'U’ V.- - : (By Telegraph—Per Press Association.) • .of. ' .. ~ , WELLINGTON, July 12. •!ij«U’p A to .the present, the. Rural Intermqjuite,,•!Qredits. Board has been able tp ; iß'aise sufficient funds-.to meet all .itfjjtreqiiirements in full,, find in view pipAhe excellent, security .it , is,.piot anticipated * that jmy/difficulty wjJ.l be experienced in raising further , iif,'.ce.ssa ry funds on the open market ,required, ..../This ..announcement was made by Air ,Snpll, Deputy Commissioner for Rurallntermediate Credits, in the course., of-.tan address to members ol the New Zealand Society of Account,apts., : . “AVlieu the scheme was first started,. 1 in ust confers it seemed to nm we pvqiild have difficulty, in getting peopi-. form associations, hut we have been very pleasantly surprised,” he said. A‘At .present.there are 23 formed url .Jour or live others are in course ol formation. It is most gratifying that the majority of the people concerned have not been borrowers, and have .taken up shares to enable others to .borrow. In my tour of the country I have been improsed with the interest and fairness shown by the directors. of the associations endeavouring to administer the Act. . So far the Boaid had 1 -eed to call up more than ore billing p°r share, and if the interest being--rhown in the scheme continued, the Bur. d need never call up another peon". ’