RURAL FINANCE

Hokitika Guardian, 22 July 1931, Page 2

RURAL FINANCE

INTERMEDIATE CREDITS

CONCESSIONS TO BORROWERS

July 20*. , At the monthly meeting of the Rural Intermediate .Credit Board the Commissioner reported that a, number 'of been'granted to bor. rowers in viaw of the low prices received ter , primary products. The hoard..' had already fieoided that leniency. be granted borrowers whose position justified such, a .coursek Only where there teas no UiteUbood of a farmer' > carrying' on auppesefuljy. , of where it was essential for other reasons that the amount 'owing to the board .should be repaid . If the interests of debenture hodlers were to be protected Was any, pressure to-be brought te bear. The board recognised that it lyas undesirable that borrowers should be forced' off their farms merely because they were in ’arrear. Every effort would be made te assist them, provided, there, was- a reasonable prospect of: their "being able ultimately to recover their position, The board had found it necessary to conserve its available funds in order that, preference could be given to applications for the purpose of maintaining and increasing production.. In view of the low ; prices being received for primary produce, it was stated to he essential, if farmers were to meet their commitments, that production be: increased as far as possible; and the board, wa« assisting in this direction.