FLAX INDUSTRY

Manawatu Standard, Volume L, Issue 145, 19 May 1930, Page 6

FLAX INDUSTRY

ASSISTANCE FROM STATE. LOAN OF £4OOO OFFERED. FOR AIILLERS’ STABILISATION FUND. Several days ago, Mr J. A. Nash ALP., communicated with the Alimstor of Agriculture, with reference to assisting flax millers during the period of depression. Air Nash lias received Vne following in reply from Hon. G. W. Forbes: “Your telegram of the 13th inst. urging the necessity for helping the flax industry. This matter was brought under my notice recently at Auckland by a deputation of .the Flaxmillers’ Association, when the Government was requested to provide a subsidy of £4OOO for the establishment of a stabilisation fund. The matter wns duly considered, and the association was informed, through members of Parliament present at the deputation, that the Government is willing to lend the association up tq £4.000 to enable it to establish its own stabilisation fund. Such a loan would bear interest at five per cent, and would require to be secured by ® joint and several guarantee by millers who are members of the association, and would be repayable over such a period as may be decided by the State Advances Board, through which the loan would bo arranged.”