ADVANCES WITHOUT INTEREST

Poverty Bay Herald, Volume XLV, Issue 14647, 3 July 1918, Page 5

ADVANCES WITHOUT INTEREST

O3STMEATIN STOkE.'

BASIS 'OF ' msTRIB'UTtON.'' (Special tQ * he i ßfer^lil;) \ ■. . TwJEXLlNGtON, Mthis'.day. , The .final . arrfingements .f qi* the .distribution oX t%ee miUiftp s£ei*ling ady^hoed by the "Imperial, Government;,, against New -Zeaiandt' 'meat""in stpre/. ttverefarinounced to your correspondent^by.'Mr. Guthrie. An ad|jus'tmentj (v he sabi, had been made which; .was aatjs factory to all concerned, "We are t , giving .a larger proportion to meat .which has been over a year in store, and the balance, will be divided^ .pro /fata' according to , the amount of 'to- companies or individuals freezing on their own account. It means that we pa,y. an advance of about 45 per eent. on the value of the meat in store, leaving the remainder to be paid upon shipment."

A question to the Minister elicited the important fact that the advances, do not bear interest, which is a great concession compared' with the normal conditions, when producers finance their shipments, not, of course, for such long periods, through banks paying 'current rates of interest.