RURAL CREDITS.
FIRST DEBENTURE ISSUE
PRIME MINISTER'S APPROVAL,
(By Telegraph.—Press Association.)
WELLINGTON, Friday.
In reply to a question by Mr. H. M. Rushworth (Country, Bay of Islands), the Prime Minister, the Hon. G. W. Forbes, stated in the House of Representatives to-day that his approval had been obtained for the first public issue of debentures by the Rural Intermediate Credits Board. =-
The sum of £400,000 advanced from the Consolidated Fund in the Act had been fully absorbed, and further funds were required in view of the steady expansion of the board's business. The issues of debentures to a total value of £100,000 was accordingly now being made by the board.
The rates of interest payable were 4i per cent for the period of 12 months for denominations of £100, £250, - and £500, and 5J per cent for a period of five years for denominations of £100, £200, £500 and £1000.
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Bibliographic details
Auckland Star, Volume LXI, Issue 175, 26 July 1930, Page 10
Word Count
150RURAL CREDITS. Auckland Star, Volume LXI, Issue 175, 26 July 1930, Page 10
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