RURAL CREDITS

Hokitika Guardian, 18 September 1930, Page 3

RURAL CREDITS

BOARD MEETS. tty Telegraph—Per Press Association WELLINGTON, September 17. The monthly meeting of the Rural Intermediate Credit Board reported that continued interest has been shown by farmers in the landing facilities provided by the Board. Much lias been done during the past month, particularly by the formation of co-operative : rural intermediate credit associations, to facilitate the submission of applications by farmers to the Board. Consent was given to the registration of an association formed in the Hawke’s Bay district, with headquarters at Hastings. In the Waikato district, an association had been formed with Headquarters at Matamata. The Board’s consent was given to the registration. The total number of associations formed to date is thirty-seven. The volume of lending business lias been well maintained over the past month, but probably with the summer months approaching there will be a slackening in the demand for finance on the part of farmers, though it may be expected that the failing in applications due to the advent of produce lion months, will be offset to some extent by the change over to the intermediate credit system upon the part of the members of the recently formed associations. The Commissioner reported that sufficient funds are available to provide for the requirements of borrowers during the period preceding the productive months of the coming season, during which part of the year it has been possible, up to the present, for the Board to provide for the requirements of borrowers out of the substantial repayments received in respect of current loans.