RURAL CREDIT SYSTEM.
SMALL SEASONAL LOANS.
AN ECONOMICAL METHOD
[BY TEr.EGTIArn. —PRESS ASSOCIATION.] WELLINGTON, Tuesday.
The Rural Intermediate! Credit Board reports that the volume of direct applications is well maintained and a notable feature of the hoard's operations has been tho increased interest upon the part of dairy companies in tho discounting system by which loans up to £2OO in the caso of any one borrower are provided upon promissory notes of farmers endorsed by dairy companies whose financial position has been established to the satisfaction of the board. This is an expeditious and economical method of securing small loans for seasonal requirements, such as the purchase of manures, seeds and minor stock purchases. As no securities over fanning stock and chattels are required, the expenses of valuation and the preparation of securities are avoided. A report was submitted on tho steps taken to bring (ho debenture issuo of £IOO.OOO before the public and farming interests.
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New Zealand Herald, Volume LXVII, Issue 20623, 23 July 1930, Page 16
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156RURAL CREDIT SYSTEM. New Zealand Herald, Volume LXVII, Issue 20623, 23 July 1930, Page 16
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