INTERMEDIATE CREDITS

Hokitika Guardian, 11 August 1930, Page 5

INTERMEDIATE CREDITS

SCHEME GOING WELL. (By Telegraph—Per Preta Association.} ■ : WELLINGTON, Aug. 5.:-■ At the monthly meeting of the Rural Intermediate /Credit Board, held at Wellington, Commissioner J. j W. MacDonald presiding, important proposals by a large dairy company for the utilisation of the discounting method in providing financial assistance for its suppliers were considered. A return as to arrears, interest and instalments of principal owing by the borrowers was placed before the Board. It indicated that there were very few cases in which the borrowers bnd not fully complied with their • obligations* Tne position was considered by the members of the Board to 'be extremely satisfactory, particularly in view * of the fact that- provision is made in the case of every loan for substantial repayments annually, and, except in a few oases, the.se repayments had been made in addition to the *nterest payments. In regard to the present public , issue of debentures, the Commissioner renorted that sufficient funds were in sight to provide for the requirements of the borrowers during the periot preceding the productive months of the coming season. Throughout the summer months the demand upon the part of the farmers for financial assistance is not as pronounced as during the winter months, and ip ; requirements of the borrowers can then be largely provided for by the Boarr out of /the substantial .repayments received monthly from the current loans. Sufficient funds are available to erasure that the lending, operations of the Board will proceed without interruption.