NATIONAL WAR FUNDS.

Hawera Star, Volume XLIX, 28 August 1929, Page 5

NATIONAL WAR FUNDS.

APPLICATIONS FOR LOANS

(By Telegraph—Press Association.)

WELLINGTON, Aug. 27. The annual report of the National War Funds Council shows that there is £169,175 in hand. ‘ ‘ln common with patriotic societies the council has received many application for loans, including advances for business purposes, and all the suggested projects are closely investigated. It is the experience of the executive that the business ventures .proposed are not sound commercially, and that as a rule the applicant has little capital of his own, and therefore is not in a position to meet e ,r en a temporary adversity. “Competition in the retail trade is severe and for one to embark in business with a lack of ready capital and often little experience in commercial life is unwise. Applicants are inclined to be too optimistic, and instances are known of applicants who have succeeded in obtaining the capital required when declined 'by the council and have failed within a short period and made application tor relief for living purposes. “As the result of the council’s experience in this direction, the establishment of business is not upheld, and assistance is not accorded unless the circumstances are exceptional.” The total net sum expended in relief and assistance amounted to £9396, the main items being: N.Z.E’.F. £2619, A.I.F. £285, Imperial £IO7B, unemployed £5020.