STATE ADVANCES.

Manawatu Herald, Volume XLVII, Issue 2841, 3 February 1925, Page 3

STATE ADVANCES.

Wellington, February 2. The Prime Minister to-day- issued the following- figures relating- to the operations of the State Advances Department for the financial year ended March 31, last, and up to and including- ten months of the present financial year ending January 31. During this period there have been authorised 13,15(1 loans for all purposes, amounting to £12,212,5? whilst no less a sum Ilian £10,009,908 lias heen actually paid over to 10,006 horro wer s.

In making these figures public, Mr Massey said: “Considering thal the moil tbs of December and January were a somewhat interrupted period, on account of the Christmas and New Year holidays, also Ibe annual legal vacation, the hitsimss that lias been done by the State Advances Department during these months is simply wonderful. The tael that so large a sum as over ten millions lias actually been paid over the counter in hard cash during the period under review, must have a tendency to ease very greatly any inconvenience which might otherwise result to mortgagors owing t° !be termination of the Moratorium period later in the year, especially too, as there will be no relaxation of the Department’s activities during the coming months. “I think I am fuly justified in saying that it is quite evident from what has taken place that the Government is leaving no stone unturned to assist those who otherwise would have had trouble with their finances.”