RURAL CREDITS
COMMISSION’S REPORT SCHEME MAKING STEADY PROGRESS TRANSACTIONS TOTAL £120,000 (Per United Press Association.) Wellington, October 13. A statement presented to the Rural Intermediate Credit Board by the Commissioner shows that the scheme is making steady progress and that the transactions of the board up to September 30 under different headings amounted to a total of £120,000. The registration of associations at Tapanui and Levin was approved and there are now 17 associations formed, most of which are actively engaged in lending operations with funds provided by the board under the Act. The board agreed to accept the endorsement of additional dairy companies under the discounting provisions of the Act and it is evident that a simple and inexpensive method of obtaining loans up to £2OO by means of promissory notes given by borrowers and endorsed by the dairy companies will be largely availed of. Discounting arrangements have now been concluded with the board by 11 companies.
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Bibliographic details
Southland Times, Issue 20616, 15 October 1928, Page 6
Word Count
158RURAL CREDITS Southland Times, Issue 20616, 15 October 1928, Page 6
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