RURAL CREDIT

Hokitika Guardian, 24 July 1930, Page 6

RURAL CREDIT

intermediate BOARD ' ACTIVITIES. WELLINGTON, July 22, The Rural intermediate Credit Board reports that two more associations have been registered, Southern, Hawke’s Bay, with the centre at Dannevirke, and Northern Southland,, making a total of thirty-four. The extension of loans to £2OOO i'3 expected to cause a further increase in the number and volumes of direct applications. A well-maintained and notable feature of the board’s operacions has been the increased interest upon the part of dairy companies in the discounting system, bv which loans up to £2OO in the ease of any one borrower are provided Upon the promissory notes of farmers endorsed by dairy companies whose financial position has been established to tlie satisfaction of the board. This is aIV expeditious and economical method of securing small loans for seasonal requirements, such as the purchase pi manures, seeds and minor stock purchases. As no- securities over farming stock and chattels are required tlie expenses of valuation and the preparation of securities are therebyavoided. ; A report has been -submitted on- the steps taken to bring the debenture issue of £IOO,OOO before the public i and farming interests, I