NO INTERFERENCE.
CREDIT OF FARMERS AT BANKS. rPer Press Association.) WELLINGTON, February 25. A misunderstanding among some mortgagors who have failed to make application for adjustment was removed by the Minister of Justice (the Hon. 11. G. R. Mason) in a statement. “They believe that there will be an interruption of their banking account and that the account will he stopped,” he said. “This so-called stopping was merely a separation of transactions previous to the filing of applications from those subsequent to the applications.”
The Minister added that there were a number of reasons why this distinction should be made. “The statute gives its special protection to advances made to farmers for the current season’s requirements,” be said. “These are therefore separated from the olu account and placed in a. second account. The credit of the farmer at the hank is not interfered with % the filing of the application for adjustment.”
Mr Mason said there was still time for any farmer who through a misunderstanding had failed to apply for an adjustment of his liabilities to retrieve the position.'
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Bibliographic details
Ashburton Guardian, Volume 57, Issue 116, 26 February 1937, Page 4
Word Count
179NO INTERFERENCE. Ashburton Guardian, Volume 57, Issue 116, 26 February 1937, Page 4
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