MORTGAGE ADJUSTMENTS

Press, Volume LXXIII, Issue 22194, 10 September 1937, Page 7

MORTGAGE ADJUSTMENTS

TO THB BDTTOB OF TBB PBBSB. Sir, —I am pleased to see that F. G Thomas is again figuring in your correspondence column, because a statement of his made more than a year ago afforded me as a mortgagee considerable satisfaction. The following is taken from a lettei appearing over his signature on Juij 15, 1936: “Very shortly farmers’ mortgage: (principal) will be reduced by aboul 25 per cent., and as you suggest in today’s editorial that some mortgagee: are going to be unjustly treated, I wil. add that the mortgagee will be giver non-transferable Government bonds tc the amount of the reduction of the mortgage, and these bonds will beai interest at about 5 per cent, and wii. be redeemable in from 10 to 15 years time. It is about time that certair people realised that this Governrneni is the first honest Government tha New Zealand has had for 23 years, anc although it may make mistakes, it certainly neither robs anyone of his money nor his equity in any property. As F. G. Thomas seems to be lithe confidence of the Government, will he kindly tell us if legislation is gomi to be put through next session to dc as he says, namely, to issue bonds tc mortgagees who suffer loss through their securities being written down b> the Relief Commissions? If this is not done, his own words condemn the present Government as dishonest Hoping that F. G. Thomas's prophecj proves to be correct and that he will reassure us on the subject.——3 ours, eic. INTERESTED. September 8, 1937. TO TH* BDITOB OF TH* P8839. Sir,—When writing to you on September 6 over the signature of “Mortgagor," I regret not having noticed a correspondent’s letter over the sam< non de plume. Permit me to sigr myself.—Yours, etc.. MORTGAGOR HSeptember 8, 1937. (Mortgagor ll’s letter appeared or September B.—Ed. "The Press. 1