RURAL CREDITS

Hokitika Guardian, 17 October 1930, Page 4

RURAL CREDITS

INCREASING DEMAND. (By Telegraph—Per Press Association.) WELLINGTON, Oct. 16. At .Die monthly meeting of the Rural 'uvternuadivte Credits Board, the Commissioner reported further progress has been made in different parts of the Dominion in the formation of additional co-operative rural untermed)ate credit associations, to focilitate the submissions of applications to the Board for loans. The total minfber of associations formed', up to the present is 48. The majority of signatures required to establish an association in the Marllxirough district have die,on obtained. /Initial steps have been taken to set up ain association in the Bunks Peninsuladistrict.

.While in consequence of the formation of new associations and the expansion of the business of existing associations, the proportion of loans granted by the Board to farmers as; members of these associations lias; (shown an increase, the volume of loans granted to borrowers applying; direct to the Board has been maintained, and discounting facilities also continued to prove popular with op* plicants requiring small loans for seasonal purposes. A feature of the past month’s operations has bean the number of applications by dairy and other, companies for the granting of limits, or the increase of existing limits, for the acceptance of their guarantees to sup- ' port direct applications by suppliers, or their endorsements of suppliers’ promissory notes for discounting with the Board. In view of the position eff the companies, it was possible in most casivi to grant the limits asked for.