FINANCING WOOL GROWERS.

Grey River Argus, 17 December 1920, Page 3

FINANCING WOOL GROWERS.

BANK NOTE ISSUE EXTENDED

WELLINGTON, December 16. Amending regulations under the Finance Act, 1916., published in the Gazette to-night, extend the limit of the bank note issue of the banks, by adding to the total amount of all coin, bullion and public securities held by each bank (including the amount of all war loan advances as defined in the Act), the amount of all wool advances m'ado by the bank and from time to time outstanding. The term "wool advances?' means such advances on wool as a bank may make on separate accounts: (1) To producers -with or without Government guarantee, or (2) to approve mercantile houses whose ordinary business include* aavaaciag against wool.