RURAL CREDITS SCHEME.

New Zealand Herald, Volume LXIX, Issue 21109, 17 February 1932, Page 11

RURAL CREDITS SCHEME.

PAYING LOAN INTEREST. SATISFACTION AT POSITION. [BY TELEGRAPH. —PREPS ASSOCIATION.] WELLINGTON, Tuesday. At the rrfeeting of the Rural Intermediate Credit Board, it was reported that there was a possibility of a co-operative rural intermediate credit association being formed for the Coromandel district with headquarters at Coromandel. An association was in the course of formation in the Thames Valley, and this should be in a position to serve the peninsula, if an association were not formed with headquarters at Coromandel. The commissioner presented a return of the arrears of interest and instalments as at December 31. Tho position disclosed was regarded as satisfactory, and was the subject of favourable comment. Only a small portion of the production season had passed when tho return was prepared, and it was considered the arrears should be further reduced by the repayments during the remainder of tho season. It was reported ttiat tho board had continued to find it necessary to grant a number of concessions to borrowers who had not l>een able to meet commitments in full, but these had applied almost exclusively to repayments of principal. Borrowers had, in almost all cases, been able to pay interest on their loans. The volume of applications for loans had shown a decline during the production season, as had been tho case in previous years. With the close of tho production season it was anticipated that the flow of applications would materially increase.