RURAL CREDIT ACTIVITIES

Taranaki Daily News, 23 July 1930, Page 12

RURAL CREDIT ACTIVITIES

INCREASED BUSINESS OF BOARD. By Telegraph.—Press Association. Wellington, July 22. The Rural Intermediate Credit Board reports that two more associations have been registered—Southern Hawke’s Bay, with its centre at Danneyirke, and Northern Southland—making a total of 34. An extension of the loans, to £2OOO is expected to cause a further increase in the number of applications, which have been well maintained. A notable feature of the board’s operations has been the increased interest upon the part of dairy companies in the discounting system, by which loans, to £2OO in the case of any one borrower, are provided upon promissory notes of farmers endorsed by dairy companies whose financial position has been established to the satisfaction of the board. This is an expeditious and economical method of securing small loans for seasonal requirements, such as the purchase of manures, seeds and minor stock, as no securities over farming stock and chattels are required. Expenses of valuation and the preparation of securities are thereby avoided. A report was submitted on the steps being, taken to bring the debenture issue of £lOO,OOO before the public- au'l farming-. interests..