FARMERS' FINANCE

New Zealand Herald, Volume LXXII, Issue 22161, 15 July 1935, Page 11

FARMERS' FINANCE

SIMPLER FORM URGED STATE GUARANTEED LOANS [BY TELEGRAPH —OWN' correspondent] GISBORNE, Saturday A simpler form of financing farmers was urged by the Gisborne ward dairy conference. It was also proposed that the Government should guarantee loans made by dairy companies. Resolutions to this effect were carried after an address had been given by the chairman of the Produce Dairy Board, Mr. A J. Murdoch, M.P. Mr. Murdoch said he had buggested that money should be given to needy borrowers at the very low rate of interest of about 2£ per cent and he had been assured that this would be looked into. Mr. J. H. Sunderland, secretary of the Kia Ora Company, said fanners who desired improvements were generally unfinancial and the dairy companies were being asked to guarantee the loans. He proposed the procedure should be that the companies should make the loans if the Government would guarantee them. At present dairy companies were faced with the possibility of being prevented from making deductions from cream cheques in repayment of loans and under the present scheme the Government wished to place the whole responsibility on the factories.