RURAL CREDITS

Hokitika Guardian, 17 February 1932, Page 5

RURAL CREDITS

MEETING OF BOARD. (By Telegraph—Ber Brest Associationj WELLINGTON, Feb. 16. The monthly meeting of the Rural Intermediate Credit Board, reported there was a possibility of a Co-opera-tive rural intermediate Credit Association being formed in the Coromandel district, with head quarters at Coromandel. The Association was in course of formation in the Thames Valley ana I this should be in a position to serve the Peninsula, The Commissioner presented a return of arrears in .interest and install merits as at December 31. The position disclosed was regarded as satisfactory, and wag a subject of favourable comment, Only a small portion of the production season had passed, when the return was prepared. It was considered that the arrears should be further reduced by payments during the remainder of the season. It was reported that the Beard had continued to find it necessary to gr nt __ number of concessions to borrowers who had not been able to meet commitments in full, these had applied almost exclusively to principal repayments, and borrowers had most in all cases been able to pay interest on loans. The volume of applications for loans had shown a decline during the production season, as had been the case in the previous years. With the close of the production season, it is anticipated that the flow of applications would materially increase.