RURAL CREDITS.

Waikato Times, Volume 104, Issue 17586, 15 December 1928, Page 8

RURAL CREDITS.

MEETING OF THE BOARD. FACILITATING THE BUSINESS. 20 ASSOCIATIONS OPERATING. (By Telegraph.—Press Association.) WELLINGTON, Saturday. At a meeting of the Intermediate Credit Board it was stated that an additional Rural Intermediate Association had been formed in the Wright's Bush district, with the title of " The Central Southland Rural Intermediate Credit Association Limited." The formation of this association brings the total number of associations to 20. Up to the present time 39 companies and firms have been approved by the board for the .purpose of guaranteeing the loans granted to individual farmers. The board has accepted endorsements for financing the acquisition of small amounts for additional stock. The board approved of the appointment of additional valuers in several districts. These appointments had become necessary in view of the increasing extent to which the scheme is being utilised. The board also gave consideration to certain proposals having as their object facilitating the work of the Rural Intermediate Credit Associations, so that the provisions of the Act giving an opportunity to farmers to combine for the purpose of obtaining 1 ready finance at a reasonable rate of interest may be fully availed of.

The board also decided that in future all loans submitted through a Rural Intermediate Credit Association and not exceeding £2su in amount, should be dealt with by the district boards set up under the Act. This decision was taken with a view to expediting consideration of such applications.

The board states there is every indication that as the close of the present dairying season approaches and farmers commence to make their financial arrangements for the ensuing year, the facilities provided by the board for obtaining advances on stock and chattels will be very largely availed of by the farming community.