RURAL CREDITS.
MEETING OF CENTRAL BOARD. WELLINGTON, August 9. At the monthly meeting of the Rural Intermediate Credit Board, held in Wellington, the Commissioner, Mr. J. W. MacDonald, presiding, important proposals by a large dairy com-, pany for utilisation of the discounting method of providing financial assistance for suppliers were considered. A return as to arrears of interest and instalments of principal owing by borrowers, placed before the board, indicated that there were very few cases in which borrowers had not fully complied with their obligations. The position was considered by members of the board to be extremely satisfactory, particularly in view of the fact that provision is made in the case of every loan for substantial repayments annually, and except in a few cases these repayments had been made in addition to interest payments. In regard to the present public issue of debentures, the Commissioner reported that sufficient funds were in sight to provide for the requirements -of borrowers during the period preceding the productive months of the coming season. Throughout the summer months the demand upon the part of farmers for financial assistance is not as pronounced as during the winter months, and the requirements of borrowers can then be largely provided for by the board out of substantial repayments received' monthly from current loans. Sufficient funds are available to ensure that the lending operations of the board will proceed without interruption. —(8.A.)
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/WAG19300811.2.5
Bibliographic details
Wairarapa Age, 11 August 1930, Page 3
Word Count
235RURAL CREDITS. Wairarapa Age, 11 August 1930, Page 3
Using This Item
National Media Ltd is the copyright owner for the Wairarapa Age. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of National Media Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.