RURAL INTERMEDIATE CREDITS.

Shannon News, 16 November 1928, Page 3

RURAL INTERMEDIATE CREDITS.

. .» —— HOROWHENUA ASSOCIATION SET UP. MR It. G. WALL CHAIRMAN OF BOARD. The Horowhenua Co-operative Rural Intermediate Credit Association, .Limited, is now an established fact. The statutory meeting was held on Tuesday, in the Whakatane Club room, a large attendance of members being present. . The personnel of the Board for Horowhenua is as follows: —Mr R. G. Wall, farmer, Ohau (chairman); Mr S. A. Broadbelt, farmer, Ihakara (deputy chairman); Mr R. V. Brown, farmer, Weraroa; Mr R. J. Law, farmer, Shannon. The registered office is in Queen St., Levin, at the. offices of the seeretarytreasurer, Mr G. Dacre Hamilton, public accountant. The Association is now open to receive and consider applications and any enquiries regarding the operation and facilities of the Act will be supplied by the secretary. The purposes for which loans will be granted are as follows: — - (a) The clearing, fencing, draining and general improvement of. land in the occupation of the applicant. (b) The erection of buildings on any such land. (c) The purchase of implements, stock, seeds, plants, trees, and other, things required in respect of the occupation* and use of any land. (d) The payment of any mortgage, debt or other liability of the applicant incurred in relation to farming operations. '

(e) Any other purpose in relation to farming operations that may be approved by the Board. Loans will be granted for periods of not less than six months and not more than five years, at the advantageous rate of interest of 64 per cent, per annum.

The regulations under the Rural Intermediate Credit. Act, 1927, provide a very reasonable charge for the preparation of securities.