RURAL CREDITS.

Hawera Star, Volume XLVII, 7 February 1928, Page 5

RURAL CREDITS.

. PERSONNEL OF BOARD. BRINGING ACT INTO OPERATION. (by telegraph—press association.) WELLINGTON, Feb. b. The Prime Minister, the Rt. Hon. J. G. Coates, has announced the personnel of the board to be set up under the Rural Intermediate Credit Act, 1927. The Act provides that the board shall consist of seven members, of whom the Public Trustee, by virtue of his office, shall be one. The remaining members, of whom at least one shall have had practical experience of farming. shall be appointed by the Gover-nor'-General and shall hold office during his pleasure. The Public Trustee is to be the principal executive of the hoard and in liis capacity as such shall be called the Commisisoner of Rural Intermediate Credit. The Governor-General has appointed the following six members: — John Brown, of Loweliffe, Canterbury, farmer. Thomas Eustace Corkill, of Wellington, retired banker. Colonel James Jacob Essen, C.M.G., of Wellington, financial advisor to the New Zealand Government. Norton Francis, C.M.G., of Christchurch, company director. John Norman Massey, of Puni, in the provincial district of Auckland, farmer. William Waddell, of Wellington, superintendent of the State Advances Office. The foregoing, together with John William MacDonald, the Public Trustee, are to constitute the board. In addition, the Governor-General lias, under Section 9 of the Act, appointed Colonel Esson to be chairman of the board to hold office during his pleasure. The first -meeting of the board is, under Section 8 of the Act, to be held at a time and place to bo appointed by the Minister. As soon as the necessary preliminary work, -which, ;it, will be realised, has been very heavy, has been completed in the direction of bringing the Act- into operation and linking up the machinery with the existing organisation of the Public Trust Office, the Act will be launched and applications for loans will ho considered.