MODERNISING OF EQUIPMENT ON FARMS.
CLARIFICATION OP POSITION REGARDING INTEREST ON LOANS. (By Telegraph—Press Association.) ' WELLINGTON, Last Night. Although a statement recently issued by the Executive Commission of Agriculture stated that loans granted to dairy farmers for the modernising of equipment on their farms would be at the rate of 4 per cent., there exists in some quarters an erroneous impression that the farmer will have to pay, in addition, the $ per cent, which it is intended to allow dairy factory companies to cover the charges incurred in assisting in the administration 01 the scheme. This i per cent, will be paid to the complies by the Treasury in cases where a factory borrows money from the Government to advance to its suppliers or guarantees sums borrowed by individual suppliers. It is the desire of both the Government and the Commission that dairy farmers requiring advances should be able to obtain them at the lowest possible rate and without the cost of the loan being increased by administrative charges.
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Horowhenua Chronicle, 13 July 1935, Page 5
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169MODERNISING OF EQUIPMENT ON FARMS. Horowhenua Chronicle, 13 July 1935, Page 5
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