RURAL CREDITS ACT

Stratford Evening Post, Issue 84, 7 February 1928, Page 7

RURAL CREDITS ACT

BOARD SET UP. PERSONNEL ANNOUNCED. WELLINGTON, Last Night. The Prime Minister, the lit. Hon. J. G, Coates, has announced the personnel of the board to be set up under the Rural Intermediate- Credit Act, 1927The Act provides that the hoard shall consist of seven membeif-, of whom the Public Trustee, by virtue of his office, shall he one. The remaining members, of whom alt ldist one shall have had practical experience of farming, shall be appointed by the Governor-Geneinl and .shall hold office during his pleasure. The Public Trustee is to be the principal executive member of the board and in his capacity as such shall be called the Commissioner of Ruriil Intermediate Credit.

The Governor-General has appointed the following six members :

John Brown, of Lowcliffe, Caiuterbnry, farmer. Thomas Eustace Corkill, of Wellington, retired banker Colonel James JUcob Essen, C.M.G. of Wellington, financial advil or to the New Zealand Government. Norton Francis, C.M.G-, of Christchurch, company director. John. Norman Mhs-sey, of Puni, in the provincial district of Auckland, farmer.

William WaJddell, of Wellington, superintendent of the State Advances Office.

The foregoing, together with John William MVDonald, the Public Trustee, are to constitute the board. In, addition, the Governor-General has, under Section 9 of the Act, appointedl Colonel Esson to be chairman of the hoard to hold office during Ids pleasure. The first meeting of the hoard \'-, tinder Section 8 of the Act, to be held at a. time a'nd place to lie uppointed by the Minister. As soon as the iiiecessarv preliminary work which, it will be realised, Uvs been very heavy has been completed in the direction of bringing the Act into operation a'nd linking up the machinery! with the existing organisation, of the Public Trust Office, the Act will be launched and applications for loans will bo con) idered.