BUBAL CREDITS

Southland Times, Issue 20648, 21 November 1928, Page 3

BUBAL CREDITS

ASSOCIATION FORMED. MEETING AT WRIGHT’S BUSH. An enthusiastic meeting of farmers from Wright’s Bush, Otahuti, Thornbury and Ryal Bush was held in the Wright’s Bush Hall on Monday evening last when arrangements were finalized for the incorporation of a Rural Intermediate Credit Cooperative Association, Ltd. It was decided to name the association the Central Southland Rural Intermediate Credits Co-oper-ative Association Limited. The following are the provisional officebearers (who hold office until the statutory meeting) :—Directors, Messrs R. D. Newth (District Intermediate Credit supervisor) ; Andrew H. Hall, farmer, Thornbury; Robert Beggs, farmer, Wright’s Bush; David Teviotdale, farmer, Isla Bank; John James Blakie, farmer, Ryal Bush; secretary-trea-surer, Mr Thomas McKenzie, Wright’s Bush, R.D. Mr R. D. Newth presided over the meeting and explained the objects and functions of the association in relation to affording financial assistance to its members, and stressed the fact that with the consent of the directors any farmer could join the association at any time and apply for a loan on taking up the required number of shares,, viz., one share per every £lO of loan with a minimum shareholding of 25. The chairman mentioned that this was the first body of its kind formed in Southland and expressed the hope that‘it would be the forerunner of many such associations.