8.—14

11

situated from the"jDistrict Supervisor's office, it is not practicable for the District Supervisor to attend each meeting of the directors, it is frequently possible to arrange for the local District Manager of the Public Trust Office to act as his deputy. The system of local representation and the method adopted for the performance of the administration and detail work has continued to prove satisfactory and well adapted to the Board's requirements. It is necessary to emphasize that the Public Trust Office acts simply as agent for the Board, and its organization is used for the purpose of carrying into effect the policy laid down by the Board and dealing with the detail work. It has no control over or responsibility lor the general policy or operations of the Board, and every care is taken to ensure that no misconceptions will arise as to the relative positions of the Board and the Public Trust Office. All expenses incurred and disbursements made directly in the conduct of the Board's operations are charged to the Board's account. Other items of expenditure for which it is impracticable for the Public Trustee to make a direct charge are taken into account in assessing the comprehensive charge made for the services of the Public Trust Office organization. The remuneration of the Public Trustee is adjusted annually on a basis satisfactory to the Board and to the Public Trustee. PUBLICITY WORK. 19. The publicity work performed by the Board during the year was carried out mainly upon the lines described in the report for the year ended 30th June, 1929. As has been stated in another connection, it is found that, despite the comprehensive and energetic measures taken to bring particulars of the system before those associated with the farming industry, misconceptions still exist as to the nature of the system and the methods by which advantage may be taken of the lending facilities provided. The need still exists, therefore, and may be expected to continue for some time yet, for active measures to keep the details of the scheme before the farming community, particularly by arranging for authoritative expositions of it to be given where the extensive utilization of one or more of the lending methods provided by the Act is receiving consideration. Where any definite movement is reported in the direction of setting up a co-operative rural intermediate credit association assistance is given by arranging for a responsible officer of the Board to address meetings of farmers convened for the purpose of receiving information as to the association method and of ascertaining whether a sufficient demand exists locally for the formation of an association, so that full particulars of the lending policy of the Board and of the working of the association method may be available to those farmers from whom the members of any association formed will be drawn. Where, on the other hand, the proposals are to utilize the guaranteeing or discounting provisions, as has in many instances been the case with dairy companies desirous of assisting their suppliers to obtain loans, a representative of the Board has at the request of the company attended meetings of the directors at which the proposals have been brought up for consideration so that full information might be available. 20. Publications. —In view of the extensive distribution in the year 1928 of the booklet " New Finance for Farmers " to farmers, branches of the Farmers' Union, agricultural and pastoral associations, dairy-farmers, and other persons and concerns closely associated with farmers, it was not considered necessary to issue any advertising matter of this nature during the past year. The provision of pamphlets giving brief particulars of the terms upon which the various classes of loans are granted is now being considered. A placard for exhibition in dairy factories and other suitable places was printed during the year, in a form adapted for completion with the addition of the name of the local co-operative rural intermediate credit association or company guaranteeing direct loans as the quarter for obtaining information regarding loans, and has been put into extensive use by both associations and guarantor companies. Copies completed with the address of the nearest representative of the Board have also been exhibited by arrangement