RURAL CREDIT BONDS
4 PURELY MORTGAGE DEBENTURES (By Telegraph.) (Special to the "Evrillrifl Post.") DUNEDIN, Ist June. When questioned regarding the prospect of disposing of the bonds which the Government proposes to issue in connection with the rural credits scheme, Mr. Harman Reeves (chairman of the Dunediu Stock Exchange) stated that the remarks of the Hon. O. J. Hawken at the meeting of the Otago' Provincial Council of the New Zealand Farmers' Union on Tuesday were misleading. It was not proposed to make an issue of Treasury bonds, said Mr. Beeves. The bonds would be issued by the rural credit branch of the Agricultural Department. The Government would have as security the property of the farmer to whom the money was advanced, and the bonds would not be guaranteed by the State. It was true that bonds sold to (farmers in America were guaranteed, but they were issued by huge banking concerns, one of which had a capital of £20,000,000. The bonds which the New Zealand Government proposed to issue were purely mortgage debentures. It should be clearly understood that they were not Treasury bonds, and that they wore not guaranteed. ' ' ' '
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Bibliographic details
Evening Post, Volume CXIII, Issue 127, 2 June 1927, Page 8
Word Count
191RURAL CREDIT BONDS Evening Post, Volume CXIII, Issue 127, 2 June 1927, Page 8
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