RURAL CREDIT BOARD

Sun (Auckland), Volume III, Issue 692, 18 June 1929, Page 10

RURAL CREDIT BOARD

EXTENSION OF ACTIVITIES Press Associations WELLINGTON, Today. J At the monthly meeting of the Rural Intermediate Credit Board, consent was given to the registration of the Mid-Canterbury Co-operative Rural Intermediate Credit Association, with headquarters at Ashburton. This is the lirst association to he formed in the Canterbury provincial district, and a leading part in its formation was taken by Mr. John Brown, one of the members of the board. The total number of associations now actually formed throughout the Dominion is 22. The formation of an association at Stratford is practically assured. Movements are also on foot to form further associations in Kaikoiie and Whangarei (North Auckland), Te Puke (Bay of Plenty), and North Canterbury districts. In his report to the board, the commissioner (Mr. J. W. Macdonald) stated that the deputy-commissiouer had now visited all associations in the Auckland, Waikato, Manawatu, Wellington, Wairarapa and Taranaki districts, with the exception of Taumarunui and Waimarino Associations, for the purpose of meeting personally the directors of associations, and discussing any difficulties experienced by them in carrying out their duties under the Rural Intermediate Credit Act. The commissioner reported that excellent results had been obtained by these visits which, in all cases, led to a better understanding, on the pari of the directors, of the scope'of the rural intermediate credit scheme and the policy of the board. The board had approved of various proposals having the object of facilitating consideration of loan applications and dealings by the board's borrowers with their stock and chattels subsequent to the granting of loans. It also confirmed a number of loans granted by the local committee of the board. It reported that great interest was now being manifested by dairy companies in the discounting provisions of the Act, and that these were being availed of to a greatly increasing extent.