RURAL CREDITS.

Auckland Star, Volume LIX, Issue 189, 11 August 1928, Page 21

RURAL CREDITS.

DTCREASIN6 operation. ELEVEN ASSOCIATIONS FORMED. (By Telegraph.—Press Association.) WELLINGTON, Friday. At the meeting of the Rural Intermediate Credit Board to-day a report was received from' the Commissioner, giving details of the progress made with the scheme, which was considered very ■atuifactory. It wa« reported that loans under various provisions of the Act are now being made in increasing numbera. The board approved * of the registration of the co-operative rural intermediate credit associations which have been formed at Morrinsville and Raetihi, the latter bearing the name of the Waimarino Co-operative Rural Intermediate Credit Association.

The board has now approved of tha registration of 11 such associations, and the formation of lour additional associations is practically complete. Many of the associations already approved of are In active operation, and loans are obtained from the board by their members.

It was decided to recommend to the Government certain amendments to the regulations, with the object of simplify* ing the procedure under the association system, and so removing all,, unnecessary work from the secretaries and other officers of the associations.

Loans submitted tinder the two main parte of the Act. and recommended by the district boards or by the directors of rural intermediate credit associations received the consideration of the board. Proposals were submitted to the board for utilising the provisions of the Act to assist the tobacco growing industry, which is now becoming of increasing importance to the Dominion. Certain proposals for financial assistance _ in marketing orchard produce also received consideration. In both cases the board was sympathetic, and it is anticipated satisfactory arrangements will be made to assist these classes of primary producers.

It was reported to the board that some misconception existed in the South Island " regarding, the attitude of the board toward advances on growing crops. In order to make the position perfectly clear the beard stated . that--advances will be made on growing grain crops in conjunction with stock and chattels, or other securities submitted by the applicant.