STATE ADVANCES.

Poverty Bay Herald, Volume XXXVII, Issue 23089, 5 March 1910, Page 2

STATE ADVANCES.

Speaking to an Auckland Herald reporter, the Prime Minister (Sir Joseph W af d) stated that money had becdnie much more plentiful, and all branches of industry and commerce were feeling the benefit. - With regard to the State Guaranteed Advances- Act, applications had, he said, already been made for loans' totalling £750,000 by various local bodies. The necessary money 'was available, and provided tKat the securir ties --'offered .-'were satisfactory, the applications, would be granted. , Three appli? cations under the Land Finance Settlement Bill had been made to date. The municipal Solicitors v . advised the Napier Borough Council that the full irules under the State Guaranteed Ad--vances. Act liad not yet been issued, biti the notice bringing the Act into operation and allowing applications to be now lodged, provided that all applications re? ceived on or before .March -13th . would be treated as haying been - lodged .siniul T ■tanedusly.' The letter pointed out that the , Council Would only - require , about £40,000* annually of the authorised loaii of £1.34,250. The Mayor remarked that the first "meeting of the Advances Board would, be held on . . March' 15th. , Cr Crowley : T hope we will know then and that we won't be stalled off. The Mayor : No one can be in a bette'r;?pos{tion .than we are. 'We ought. to nave some... reply at tlie next meeting 'of the Gouncil. • . ....''"