REPLACING STOCK

Ashburton Guardian, Volume 55, Issue 303, 5 October 1935, Page 7

REPLACING STOCK

AID FOR SOUTHLAND FARMERS.

GOVERNMENT LOANS URGED.

(Per Press Association). INVERCARGILL, October 4

That the losses of stock experienced in Southland during the last three months had not been due to any form of disease, hut simply to the shortage of feed caused by the abnormal seasons. was emphasised at a meeting today attended by about 30 representatives of the Farmers’ Union, the Agricultural and Pastoral Association', dairy companies, and! the Chamber of Commerce.

Mr C. V. Dayus, Otago and South land district superintendent for the Department of Agriculture, who was present, announced a scheme of assistance by the Government for farmers who had lost stock.

“The Government, I need hardly assure you, is sympathetic,” said Mr Dayus, “and with the aim of assisting has formulated the following plan: To those farmers who are tumble to carry on without assistance and are unable to get assistance from,private sources, the Government is prepared to advance a loan for the replacement of stock lost over the last three months, repayment to be on easy terms spread over three years, with monthly payments o\ er the most profitable period of the, year. The interest rate has not been fixed, but it is not likeiy to exceed 4 per cent., payments being made only on the amount of capital remaining as ihe debit is decreasing. The usual type of document will be required to be executed with respect to security and repayment. Application will he made to the Director-General of the Department of Agriculture in \Y eUington.”

The following resolution was carried: “That this meeting approves of the scheme for financing the purchase of replacements of dairy stock lost during the months of August, September, and October, under approved conditions. “(1) That individual applicants be given the option of replacing stocks with what is best suited to theix* requirements, taking into account the advancing prices of the respective classes of stock; . “(2) That any repayments of capital and interest he deferred until the 193637 season; “(3) That application for relief lie made to the Department of Agriculture, Invercargill, before October 12.