RURAL CREDITS.

Auckland Star, Volume LX, Issue 244, 15 October 1929, Page 21

RURAL CREDITS.

FLOW OF APPLICATIONS.

BOARD'S BUSINESS INCREASING,

(By Telegraph.—i J ress Association.) WELLINGTON, Monday.

Considerable activity has been recorded of late in all classes of the Rural Intermediate Credit Board's lending business, according to a report submitted to the board at its last meeting. It was stated that although the period of the year when farmers normally arranged their financial requirements had passed a steady flow of applications was still being received, indicating increasing recourse by farmers to the intermediate credit system. The interest shown contained a promise of further activity. There have beeh «c number of applications during the .past month by dairy companies desirous of concluding arrangements with the board for the acceptance of their guarantees of direct loans and their endorsements of ; promissory notes for discounting with' the board or for an increase of the limits already granted them by the board for these purposes. Inquiries have been particularly marked in regard to the discounting system. The board approved of a draft report on operations for the year ended June 30 last. The report, which will be presented to Parliament, indicates that satisfactory progress has been made during the year in the development of the board's business.