FARMERS’ FINANCE.

Hawera Star, Volume XLIX, 15 October 1929, Page 5

FARMERS’ FINANCE.

i - i RURAL INTERMEDIATE CREDIT. A BUSY PERIOD. , (By Telegraph—Press Association.) WELLINGTON, Oet. 14. Considerable activity -lias been recorded of late in all classes of the - Rural Intermediate Credit Board’s lending business, according to a report submitted to the board at its meeting last week. It was stated that, although the period of the year when fanners normally arrange their financial requirements had passed, a steady flow of applications was still being received, indicating increasing recourse by farmers to the intermediate credit -system. The interest shown contained a promise of further activity. “Additional rural intermediate credit- associations recently formed are now commencing operations, and thus fanners in districts previously without satisfactory facilities for utilising the system are now in a- position to approach the hoard for loans, while- older associations continue to function satisfactorily,” stated the report. “There have been numbers of applications during the past month by dairy companies desirous of concluding arrangements with the hoard for acceptance of their guarantees of direct loans and tlieir endorsement- of promissory notes- f,or discounting with the hoard or for an increase of limits already granted them by the- board for these purposes. Inquiries have been particularly markied in regard to the discounting sys- ) torn.” During the past month the programme of conferences with- the directors of associations had been completed. Mi- J. Brown, a member of the board, accompanied bv the deputycommissioner. had paid a visit to the Otago and Southland districts, conferences being held with the directors of the Tapanui, Central Southland and Matnura associations and with- the members of the Southland district board. The district supervisor at Palmerston North and the deputy-com-missioner had met the directors of the Horowlienua Association at Levin. The visits had served a .very useful purpose in affording directors an opportunity of discussing personallv with representatives of the board any points of doubt or difficultv with which thev were faced in the administration of the association’s affairs, and it had also resulted in the associations being provided with first-hand information regarding the policy of the central/, board. * The hoard approved of a draft- re- ! port on the operations for the year J ended June 30. The report, which will ' he presented to Parliament, indicates I that satisfactory progress has been ( made (luring the vear in the develop- 1 merit- of the board’s business. * 1