MORTGAGES SUSPENSION BILL.

Auckland Star, Volume XXV, Issue 69, 21 March 1894, Page 5

MORTGAGES SUSPENSION BILL.

SCENE...IN_.THE SV-DNEY

PARLIAMENT.

Sydney, this day; In the Legislative Assembly last nigh* the Mortgages Suspension Bill, which was designed to afford concessions to mortgagors during the present period of. depression, came on for second reading. Several speakers justified tbe Bill on the ground that the leniency shown to banks should be extended to their customers.

Sir Geo. Dibbs said if such a Bill were carried it meant further reconstruction of the banks or a liquidation measure. In his opinion it was a highly dangerous one.

The motion for second reading was carried by 39 to 31. 4^hen the Bill got into Committee the proceedings degenerated into a burlesque, and a scene occurred through Mr Edden accusing the Premier of receiving ,£3,000 from banks fox passing the Bank Bill.

Sir George Dibbs immediately jumped up, and characterised this statement as " an infamous lie."

Mr Cook became involved in a wangle, which eventually ended in both Mr Edden and Mr Cook apologising and withdrawing statements to which exception had been taken.

The Bill was so mutilated by the Committee that the promoters deserted it in disgust, and the House was counted out.