Thank you for correcting the text in this article. Your corrections improve Papers Past searches for everyone. See the latest corrections.

This article contains searchable text which was automatically generated and may contain errors. Join the community and correct any errors you spot to help us improve Papers Past.

Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image

ORDERS ON CHEQUES.

ONLY IN FLUSH MONTHS. BONUS FOR FARMER HIMSELF. An important pronouncement regarding orders by Rural Credit Associations on shareholders’ milk cheques was made by Mi’ F. J. Moore, district supervisor of Rurual Credit for South Auckland, when addressing members of the Morrinsville Association last week. Repayments of loans are now spread over the flush of the season, so that if a shareholder kept up his payments and cleared off his yearly total during the summer he would have all the winter cheques and the bonus to himself. The idea was to make things easy for the farmer. The board knew that expenses were heavy and returns low in the winter, so its present policy was to suspend automatically all orders on cheques as soon as the stipulated annual sum had been repaid. When the year’s quota had been paid over through the dairy company the Hamilton office notified the company that no further deductions need be made until the following October 20. This meant that ,in ordinary cases the board did not make a levy on winter cheques or the annual bonus.

When this was explained to the meeting by Mr Moore and the secretary some members confessed that they had been unaware of this generous concession. There was a lengthy discussion, and finally the principle appeared to have been firmly grasped by those present. As an example, it was mentioned that if a farmer got a loan from the association in May or July, he would suffer hardship if payments started immediately. The order on his factory cheques could be lifted by the directors until the following Octover 20. Of course, if he wanted to get his obligations cleared up the order would go on without interruption. But if he had other accounts to pay he need not have any deduction from his winter cheques.

If his loan began in January and he wanted the full use of his winter cheques, he only needed to apply to the directors to have the payments /suspended during the off season until October 20.

The board had set its face against suspension of orderg during the flush months. However, if a shareholder who had already paid off a portion of his loan found himself in need iff additional money, he could apply to the association for a further loan and borrow up to £2OOO provided he had the security.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/HPGAZ19291216.2.14

Bibliographic details
Ngā taipitopito pukapuka

Hauraki Plains Gazette, Volume XXXX, Issue 5514, 16 December 1929, Page 2

Word count
Tapeke kupu
400

ORDERS ON CHEQUES. Hauraki Plains Gazette, Volume XXXX, Issue 5514, 16 December 1929, Page 2

ORDERS ON CHEQUES. Hauraki Plains Gazette, Volume XXXX, Issue 5514, 16 December 1929, Page 2

Help

Log in or create a Papers Past website account

Use your Papers Past website account to correct newspaper text.

By creating and using this account you agree to our terms of use.

Log in with RealMe®

If you’ve used a RealMe login somewhere else, you can use it here too. If you don’t already have a username and password, just click Log in and you can choose to create one.


Log in again to continue your work

Your session has expired.

Log in again with RealMe®


Alert