FARM LOAN RATES
‘’Statement Not Correct’ (N:Z. Press Association) WELLINGTON. Oct. 14. The State Advances Corporation’s farm loan rate was 5J per cent on first mortgage and 6 per cent where the corporation had to take out a second mortgage, the Minister in charge of the corporation (Mr Rae) said in an interview tonight. Ulis was so whether loans were for the purchase of a farm, for development, or for the strengthening of marginal units by the purchase of additional land. Mr Rae described as “completely incorrect” a reported statement made by Mr P. G. Clark, president of Taihape Federated Farmers, in Marton yesterday, that the lowest interest rate farm loan money available from the corporation was 7i per cent
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Bibliographic details
Press, Volume CIX, Issue 32120, 16 October 1969, Page 11
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120FARM LOAN RATES Press, Volume CIX, Issue 32120, 16 October 1969, Page 11
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