RURAL CREDITS.

Auckland Star, Volume LXI, Issue 187, 9 August 1930, Page 10

RURAL CREDITS.

OPERATIONS OF BOARD.

REPAYMENTS SATISFACTORY.

AMPLE FUNDS AVAILABLE

(By Telegraph.—Press Association.)

WELLINGTON", this clay,

At the monthly meeting of the Rural Intermediate Credit Board, held in Wellington, the Commissioner, Mr. J. W. McDonald, "presiding, important proposals by a large dairy company for the utilisation of the discounting method of providing financial assistance for its suppliers was considered. A return as to arrears of interest and instalments of principal owing by borrowers was placed before the hoard. It indicated that there were.very few cases in which borrowers had not fully complied with their obligations. The position was considered by members of the board to be extremely satisfactory, particularly in view of the fact that provision is made in the case of every loan for substantial repayments annually, and except in a few cases these repayments had been made in addition to interest payments. In regard to present public .issue of debentures, the commissioner reported that sufficient funds were in sight to provide for the requirements of borrowers during the period preceding the productive months of the coming season. Throughout the summer months the demand upon the part of farmers for financial assistance is not as pronounced as during the winter months, and the requirements of borrowers can then bo largely provided for by the board out of ""the substantial repayments received monthly from current loans. Sufficient funds are available to ensure that the lending operations of the board will proceed without interruption.