MORTGAGE CORPORATION.

Auckland Star, Volume LXV, Issue 224, 21 September 1934, Page 13

MORTGAGE CORPORATION.

INVESTIGATION PROPOSED. (By Telegraph.—Press Association.) WELLINGTON, Thursday. The proposals made by the Government in regard to the establishment of a national mortgage corporation are to bo the subject of an investigation by a sub-committee of the Associated Chambers of Commerce, appointed at a meeting to-day of the executive of that body. Mr. H. S. E. Turner said the Budget statement had given only a general indication of the proposals, and the Minister of Finance had said a considerable amount of preliminary work would bo necessary in •elaborating it. The matter was one that would require a good deal of investigation, said Mr. Turner, including the important point as to whether private enterprise was to carry on its mortgage business. Advice that lie was not at present in a position to state whether legislation extending the term of the Mortgagors and Tenants Relief Act would be introduced this session was given by the Minister of Justice, the Hon. J. G. Cobbe, to the meeting. The attitude of the Government in respect of the existing legislation, lie said, would be entirely contingent on the trend of economic events. The executive, which had made representations against any extension of the existing legislation, decided to take no further , action in the meantime.