INTERMEDIATE CREDITS

Hokitika Guardian, 30 September 1929, Page 3

INTERMEDIATE CREDITS

EXTENSION OF FACILITIES

WELLINGTON, September 26. The monthly meeting of thi Rural Intermediate. Credits Board last mbilth considered proposals submitted by. *lio Commissioner, Mr MacDonald, for the introduction of a system to meet the needs of farmers,., such as sheep farmers and those engaged in mixed firming, whose requirements fluctuate according to the various seasons of the year. Under- the system outlined, provision would; be made for approving limits proportionate to the value of ,the borrower’s live and deaft stock, ' and, if necessary, collateral security, up to which he would be entitled to receive advances as and when he Required money to meet current outgoings., ... ;< .. . • ' . ‘

The proposals received the general approval of the • board in principle, but the members thought it desirable to submit them to the. district boatus and the co-operative rural intermedi- v ate credit associations throughout the Dominion in order that they might be fully apprised of the system and have an opportunity of submitting /suggestions as to the procedure necessary to. put the 'proposals into effect. . . The various .comments by.-/ the .district, board members gmd‘the directors of the co-operative rural intermediate credit associations,- were .-considered by the board at its meeting this and effect will he given to a number of. thief. Suggestionsmade r‘ 3 vVI • y This extension of facilities is of particular interest in View of the proposal now under consideration to increase the maximum for individual loans to £2OOO. ) ■ N,.. -