RURAL INTERMEDIATE CREDIT

Press, Volume LXX, Issue 21088, 13 February 1934, Page 10

RURAL INTERMEDIATE CREDIT

LESS OUTSTANDING INTEREST '.l'l.'F.Sr. \X'-,U< 111 O.V 'III.K'iRI.M.) WELLINGTON", February 12. At the monthly meeting of the Rural Intermediate Credit Board the commissioner presented a report showing that the arrears by interest and instalments owing by borrowers had been reduced since the previous return was prepared in September, the reduction of outstanding interest being particularly marked. The position was generally regarded as very satisfactory. Following staff changes in the Public Trust Office the board appointed Mr E. Collins to be district intermediate credit supervisor at Nelson and chairman of the Nelson district board in succession to Mr A. Bell, who has been transferred to the head office of the Public Trust at Wellington. The board requested the Commissioner to consult with the members of the board in Wellington with the object of preparing a definite programme for making farmers further acquainted with the benefits of the rural intermediate credit system. information was placed before the board to the effect that many dairyfarmers could substantially increase the revenue from their properties by the development of certain supplementary lines of farming, (he possibilities of profit, from pig-raising being specially mentioned. The board expressed willingness in suitable cases to provide finance for the purpose.