DAIRY FINANCE

Evening Post, Volume CXX, Issue 7, 8 July 1935, Page 13

DAIRY FINANCE

«. — POSITION IN OTAGO (By Telegraph.) (Special to the "Evening Post.") DUNEDIN, This Day. The interesting statement that • very few dairy farmers in Otago would take advantage of the Mortgage Corporation's money was made by Mr. S. Bowman, manager of the Waitaki Dairy Company. Mr. Bowman, who had been askad to comment on the Commission of Agriculture's outline of the measures it was proposed to adopt to help the industry, added that as far as his company was concerned they knew of only one case out of a large number of farms throughout the whole province in which there was a second mortgage. In his opinion, this legislation had been designed to help the North Island people. Questioned, regarding the arrangements to pay to dairy factory companies an amount equivalent to a half per cent, per annum on the amount of advances outstanding at the end of each half-yearly period, he said that a half per cent, was not sufficient to cover overhead' expenses. One per cent, would be required for that purpose. "I should like to see the Government help to reduce the cost of cement," concluded Mr. Bowman. "By doing so it would be rendering the dairy farmers a good service, for it would then be possible for practically all farmers to concrete their cow byres and put them into first-class condition. Such a course would be iri the interests of public health."