RURAL CREDITS.
BOARD’S OPERATIONS. 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 the centre at Dannevirke, and Northern Southland, making the total 34. The extension loans to £2OOO is expected to cause a further increase in the number. The volume of direct applications is well maintained, and a notable feature of the Board’s operations has been increased interest on the part of dairy companies in discounting the system by which loans to £2OO in the case of any one borrower are provided upon promissory notes of farmers, endorsed by the 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 purchases. As no securities over farming stock and chattels are required, the expenses of valuation and the preparation of securities are thereby avoided.
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Bibliographic details
Timaru Herald, Volume CXXV, Issue 18626, 23 July 1930, Page 7
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165RURAL CREDITS. Timaru Herald, Volume CXXV, Issue 18626, 23 July 1930, Page 7
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