INTERMEDIATE CREDIT

Evening Post, Volume CXII, Issue 122, 19 November 1931, Page 8

INTERMEDIATE CREDIT

The monthly meeting of the Rural Intermediate Credit Board was held in Wellington, when the following'members wore present:—Colonel J. J. Esson (chairman), Messrs. J. W. Macdonald (Commissioner of Rural Intermediate Credit), John Brown, T. E. Corkill, Norton Francis, and W. Waddel. It was reported by the Commissioner that an effort is being made to promote the formation of an association in. the Wakapuaka district, in the Nelson Province, where a meeting arranged by the Wakapuaka branch of the New Zealand Farmers' Union was addressed recently. This district is a thriving one, and there- should be ample scope for an association there. The Commissioner presented a return of arrears'of interest and-install ments as at the 30th September last,and the position- shown was particularly gratifying, especially •as thear-' rears of interest disclosed were comparatively negligible. The arrears of principal instalments have increased slightly since the last return was, presented, but,now that the' 'production season has commenced it is anticipated that these Svill be gradually reduced, while the arrears'of interest should be quickly eliminated. Owing to the difficult conditions with which farmers were faced during last season, it was necessary for the board to grant concessions, while in other cases where arrears, were disclosed these were not pressed' for where the board considered that the position of -the,'loans was otherwise satisfactory. Bearing this in mind it is pleasing to be able'to.record such a favourable position. ..