LAND TOO DEAR.
FARMERS BLAMEWORTHY.
INDUSTRIALISTS' VIEWPOINT. (By Telegraph.—Own Correspondent.) DUNEDIN, this day. Attention to a remark which was reported to have been made by the Prime Minister, the Et. Hon. M. J. Savage, was drawn at a meeting of Perpetual Trustees. Ltd., by the chairman of directors, Mr. W. E. Reynolds. He said that Mr. Savage was reported as having recently 6aid that "a mortgagee who lent too much money on land did not know his business and ought to get out." J If such a statement was made by the Prime Minister, said the chairman, could it not be said in reply that the farmer who bought land too dear was perhaps more blameworthy? It was easy to be wise during or following a slump period, but for many years prior | to the recent depression mortgagees lent ; their moneys on securities valued by ( well-known and competent valuers and generally lent conservatively on those . values. '
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/AS19360613.2.119
Bibliographic details
Auckland Star, Volume LXVII, Issue 139, 13 June 1936, Page 12
Word Count
156LAND TOO DEAR. Auckland Star, Volume LXVII, Issue 139, 13 June 1936, Page 12
Using This Item
Stuff Ltd is the copyright owner for the Auckland Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries.