12 JANUARY 1929, Page 35

A NEW BANK.

I understand that the Agricultural Mortgage Corporation Limited, which is the official title of the new bank to aid the agricultural interests formed under the provisions of the Agricultural Credits Act of 1928, will commence business next Monday.. The new bank will grant long term loans against mortgages of agricultural land, or in respect of agricul- tural improvements under the Land Improvement Acts,

Loans on mortgages and agricultural land will be granted for periods up to sixty years, and may not exceed two-thirds of the value of the land. The- chairman of the Corporation is Sir Harry Goschen, while the Board will also include Sir Otto Niemeyer, Sir George May, Lord Clinton, Mr. Clifford Johnston, Mr. W. Gavin and Sir George Barstow.

A. W. K.