RURAL CREDITS

Hawke's Bay Tribune, Volume XVIII, Issue 47, 7 February 1928, Page 9

RURAL CREDITS

LAUNCHING OF THE ACT PERSONNEL OF THE BOARD. PRIME MINISTER’S STATEMENT. Wellington, February 6. The Prime Minister (the Rt. Hon. J. G. Coates) announces the following 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 in farming, shall be appointed by the Governor-General and shall hold office during his pleasure. The Public Trustee is to be the principal executive member of the board, and in his capacity as such shall be called the Commissioner of Rural Intermediate Credit. His Excellency the Governor-Gene-ral hag appointed the following six members:— John Brown, of Lowcliffe. Canterbury farmer; Thomas Eustace Corkill. of Wellington, gentleman, retired banker: .James Jacobs Esson C.M.G.. of Wellington, financial adviser 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 of the Dominion of New Zealand, ar© to constitute the board. In addition, the Governor-General has under section 9 of the Act. appointed Janies Jacobs Esson to he chair man of the board, to hold office during his pleasure. The first meeting of the board under section 8 of .the Act, to be held at a time and place to be appointed by the Minister. As soon as the necessary preliminary work—which n will be realised, has been very heaw —has been completed in the direction ng the Act into operatior and linking up the machinery with the existing organisaton of the Public Trust Office, the Act will be lounched and applications for loans will be dealt with.