WAR FUNDS COUNCIL.

Manawatu Standard, Volume XLIX, Issue 230, 28 August 1929, Page 7

WAR FUNDS COUNCIL.

REPORT FOR PAST YEAR. Per Press Association. WELLINGTON, Aug. 27. The annual report of the National War Funds Council shows that there is £169,175 in hand. “In common with patriotic societies, many applications have been received for loans, including advances for business purposes, and all the suggested projects are closely investigated,” states the report. “It is the experience of the executive that the business' veintures proposed are not sound commercially and that as a rule the applicant has little capital of his own, and therefore is not in a position to meet even temporary adversity. Competition in the retail trade is severe, and for one to embark in business with lack of ready capital, and often little experience in commercial life, is unwise. Applicants are inclined to he too optimistic, and instances are known of applicants who, having succeeded in obtaining the capital required when declined by the council, have failed within a short period and have made application for relief for living purposes. As the result of the council’s experience in this direction, the establishment of a business is not upheld and assistance is not accorded unless the circumstances are exceptional.” The totalnet sum expended in relief and assistance amounted to £9396, the main items being N.Z.E.F. £2619, A.I.F. £285, Imperial £IO7B, unemployed £5020.