FARMERS’ FINANCE.

Otago Daily Times, Issue 20484, 11 August 1928, Page 7

FARMERS’ FINANCE.

RURAL INTERMEDIATE CREDITS. MONTHLY MEETING OF BOARD. (Per United Press Association.) WELLINGTON, August 10. The seventh monthly meeting of the Rural Intermediate Credit Board received a report from the commissioner detailing the progress made in connection -with the scheme, which was considered very satisfactory. It was reported that loans under the various provisions of the Act are now being made in increasing numbers. The board, approved of the registration of co-opera-tive rural intermcdite credit associations which have been formed at Morrinsville and Raetahi, the latter bearing the name of the Waimarino Co-operative Rural Intermediate Credit Association, The board has now approved of the registration of 11 such associations, wdiile the formation of four additional associations is practically complete. Many of the associations already approved are in active operation, and loans are being obtained from the board by their members.

It was decided to recommend to the Government that certain amendments be made to the regulations with the object of simplifying the procedure under the association system with a view to removing all unnecessary work from the secretaries and other officers. ,

The associations’ loans submitted under the two main parts of the Act and recommended by the district boards or by the directors of the rural intermediate credit associations, received the consideration of the board. Proposals were submitted to the board witn the object of utilising the provisions of the Act to assist the tobacco growing industry, which is now becoming of increasing importance to the Dominion. Certain proposals also received the consideration of the board for financial assistance in connection with the marketing of orchard produce. In both eases the attitude of the board was. sympathetic and it is anticipated that satisfactory arrangements will bo made to assist those classes of primary producers.

It also reported to Hie board that some misconception existed iu the South Island regarding tho attitude of the board in connection with advances on growing crops. In order to make the position perfectly clear tho board stated that advances will be made on growing grain crops in conjunction with stock and chattels or other securities submitted by Hie applicant.