MORTGAGE INTEREST.
CANTERBURY'S WARNING. (By Telegraph.—Press Association.) CHRISTCHURCH, Wednesday. A strong protest against further reductions in mortgagees' interest or the contraction of their mortgage rights was made at the inaugural meeting of the Canterbury branch of the New Zealand Mortgagees' Protection Association. It was resolved to convey the protest to the Prime Minister. The meeting also urged that mortgagees should be represented on the mortgagors' adjustment commissions. A resolution was passed as follows:— "It is common ground that the drastic legislation of the last few months is having a serious effect on the financial re.oovery of the country. Investors not only are finding that their rights in respect of existing contracts have been ruthlessly cut. but they are afraid to enter into new ones for fear that similar or even more drastic legislation may be passed in the future. The result is that the flow of money, for
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Auckland Star, Volume LXIV, Issue 21, 26 January 1933, Page 4
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148MORTGAGE INTEREST. Auckland Star, Volume LXIV, Issue 21, 26 January 1933, Page 4
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