INTERMEDIATE CREDIT BOARD

Evening Post, Volume CXVIII, Issue 93, 17 October 1934, Page 19

INTERMEDIATE CREDIT BOARD

Tho monthly meeting of the Rural Intermediate Credit Board was held in Wellington, the following members being present: Colonel J. J. Esson (chairman), Messrs. E. 0. Hales (Commissioner of Rural Intermediate Credit), John Brown, T E. Corkill, Norton Francis, J. N. Massey, M.P., A. D. Park, and W. .Waddel. Before the commencement of business the chairman extended a welcome to Mr. Hales, who, as Commissioner of Rural Intermediate Credit, took his seat on the board' for the first time. It was reported that tho Deputy Commissioner (Mr. J. Snell) had recently visited Dannevirke and addressed meetings arranged by the local branch of the Farmers' Union and the Dannevirke Rotary

Club. ,_, . . , The district supervisor, whangarei, who was accompanied by the chairman of directors of the Bay of Islands Co-operative Kuraljntcrmediate Credit Association, addressed a meeting at Obaeawai '(North Auckland) arranged by the Farmers' Union. The annual report and accounts ot the board for the year ended June 30, 1934, have been presented to Parliament. The report, which traverses the operations of the board and the co-operative rural in-' termediate credit associations, refers to the alterations of policy which have been rendered necessary by changing conditions

in the farming industry, and discloses that loan moneys advanced for the year totalled £78,41>; as compared with £72,154 for the previous year, bringing the total amount advanced by the board from January 1, 1928, to June 30, 1934, to £1,065,179,. I of" which £790,216, or more, than 74. per; cent, of the amount lent, has been repaid by borrowers.