D.S.S. ACT.
REDUCTIONS IN CAPITAL.
OVER TWO MILLION WRITTEN OFF
(By Telegraph. — Parliamentary Reporter.) WELLINGTON, Thursday. The Minister of Finance (Hon. \V. Downie Stewart V, reviewing, in his Budget speech, the proceedings of the Revaluation Board under the Discharged Soldiers' Settlement Act, stated that reductions in capital of current accounts up to March 31 totalling £49,242 had been made, while £5403 had been transferred to suspense account. Reductions to the end of the year had been made as follows: —Capital value of leaseholds, £1,754,207; value of buildings charged under leases, £15,155; mortgages, £726,601; current accounts, £40,242; total, £2,545.238. In addition, substantial relief by way of remission of rent and interest had been given, and in other cases postponement for varying? terms up to ten years had been arrangedThe loss of capital entailed in these revaluations will in due course be written off the £13,500,000 advanced out of the Consolidated Fund.
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Auckland Star, Volume LVII, Issue 161, 9 July 1926, Page 3
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150D.S.S. ACT. Auckland Star, Volume LVII, Issue 161, 9 July 1926, Page 3
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