INTERMEDIATE CREDIT

Northern Advocate, 17 December 1928, Page 2

INTERMEDIATE CREDIT

SCHEME WORKING WELL,

(Per Press Association. —Copyright.) WELLINGTON, This Day. At a meeting 1 of the Intermediate Credit Board, it was stated that an additional Eural Intermediate Credit Association had been formed in the Wrights’ Bush District with the title of “The Central-Southland Eural Intermediate Credit Association Limited.* *

The formation of this association brings the total number of -associations to 20. Thirty-nine -companies and firms have been approved by the board for the purpose of guaranteeing loans granted to individual farmers. The board has accepted the endorsement, for the financial acquisition • -of small amounts, of additional stock and approved the appointment of additional valuers in several districts. These appointments have become necessary in view of the increasing extent to which the scheme is being utilised. Consideration was given to certain proposals having as their object the facilitating of the work of Eural Intermediate Credit Associations so that tne provisions of the Act, giving opportunity to farmers to combine for the purpose -of obtaining ready finance at a reasonable rate of interest, may be fully availed of. The board also decided that nil loans submitted through a Eural Intermediate Credit Association, not exceeding £250 in amount, should be dealt with by the district boards set up under the Act, This decision was taken with a view to expediting the consideration of such applications. There is every indication that as the close- of the present dairying season approaches and farmers commence to make their financial -arrangements for the ensuing -season, the facilities provided by the, board for obtaining advances on stock and chattels will bo very largely availed of by the farming community.