FINANCE FOR FARMERS

Sun (Auckland), Volume II, Issue 539, 17 December 1928, Page 10

FINANCE FOR FARMERS

CREDIT BOARD’S WORK REDUCING FORMALITIES Press Association WELLINGTON, Saturday. At a meeting of the Intermediate Credit Board it was stated that an additional Rural Intermediate Credit Association had been formed in Wright’s Bush district with the title of “The Central Southland Rural Intermediate Credit Association, Limited.” This brings the total number of association to 20. Up to the present time 39 companies and firms have been approved by the board for the purpose of guaranteeing loans granted to individual farmers. The board has accepted indorsement for financing the acquisition of small amounts. The Stock Board has approved the appointment of additional valuers in several districts. These appointments have become necessary in view of the increasing extent to which the scheme is being utilised. The board also gave consideration to certain proposals having as their object the facilitating of the work of the Rural Intermediate Credit Associations so that the provisions of the Act giving an opportunity to farmers to combine for the purpose of obtaining ready finance, at a reasonable rate of interest, may be fully availed of. The board also decided that in future all loans submitted through the Rural Intermediate Credit Association and not exceeding £250 in amount should be dealt with by District Boards set up under the Act. This decision was taken with a view to expediting the consideration of such applications. The board states there is every indication that, as the close of the present dairying season approaches, and farmers commence to make their financial arrangements for the ensuing season, they will make use of the facilities provided b ytlie board for the obtaining of advances on stock and chattels. FAITH IN WOOL VALUES LOWER. BUT STEADIER (Australian and N.Z. Press Association) Reed. .9.5 a.m. LONDON, Saturday. “Regarding the standard of wool values,” says the “Statist's Bradford correspondent, “there is far more faith to-day In current values than last March, when prices were distinctly higher and when a good deal of forcing tactics had been employed. “To-day this feature is entirely absent, but all sections of the industry are satisfied that current values are high enough to be safe. Higher values will do more harm than good. “It looks, as if we are going to see steady values, with the consumption maintained, tending to improve.