RURAL CREDITS
WORK OF THE ASSOCIATION £1,000,000 OK LOAN. (Peb United Press Association.) WHANGAREI, June 8. The fourth and final conference of, the Rural Intermediate Credit Association was held to-day. Mr J. N. Massey, M.P., who presided, said that the. board had advanced to farmers, either direct or through the medium of associations, one million sterling, with undoubted benefit to the farmers concerned. The board felt that it would be unwise to extend to five years as the maximum term of the loans, but in the meantime had arranged that any balance due on the loan at the end of the term, shall not be arbitrarily called up, but shall run on as overdue with suitable periodical reductions if the security is adequate and the conduct of the borrower has been satisfactory. The Acting Prime Minister (Mr J. G. Coates), in a telegram of welcome, congratulated the board on its good work.
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Otago Daily Times, Issue 21975, 9 June 1933, Page 11
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152RURAL CREDITS Otago Daily Times, Issue 21975, 9 June 1933, Page 11
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