MORTGAGE TRUSTEES.

Auckland Star, Volume LXVI, Issue 223, 20 September 1935, Page 3

MORTGAGE TRUSTEES.

QUESTION ASKED IN HOUSE.

UNFAIR TREATMENT SUGGESTED

(By Telegraph.—Parliamentary Reporter.) WELLINGTON, this day.

A suggestion was made by Mr. C. A. Wilkinson (Independent, Egmont) in an urgent, question to the Prime Minister, Mr. Forbes, that some of the trustees appointed under the mortgages adjustment legislation arc representatives of mercantile firms who usually supply farmers with their requirements and that this presumably operates to compel farmers to purchase their necessaries from such firms. He asked the Government to take action to prevent such appointments being made.

Mr. Forbes replied that it was intended when the Act was introduced that stock firms in many cases would be appointed as trustees, and in practice it had been found more convenient and economic for a stock lirm with whom a mortgagor had previously been dealing to undertake that work. The Department had had 110 complaints that mortgagors had suffered any disadvantage through stock firms being appointed trustees, who were under the control and supervision of the Mortgagors Adjustment Commission, and might be removed at any time if the commission was satisfied that the mortgagor had been treated unfairly. Mr. Forbes und&rtook to have the matter looked into.