SOLDIER SETTLERS

Greymouth Evening Star, 29 April 1925, Page 8

SOLDIER SETTLERS

FARMS REVALUATION. I (Per Press Association.) ' WELLINGTON, April 28. The geiferal revaluation of soldiers’ farms by the Dominion Revaluation ' Board has practically been completed, ’ stated the Minister of Lands, Mr McLeod, to-day. The Minister stated that ’ there are still a number of appeals and difficult cases, which were occupying , the attention of the Board,' and entailing personal inspections in differ- , ent localities, but it was hoped that ’ the final figures would be available for submission to Parliament soon after it assembled. All the District Committee had completed their labours in the field. The office of the Dominion Board had issued its determination in 5,262 cases, which per cent of the applications received. About. per cent of the applicants had dropped out during the last twelve months, and such a small percentage was to be con. sidered very satisfactory. The general figures, the Minister stated, were as follow: Applications for revaluation, 5,347; determined 5,262; still to be determined, 85. The reductions in the capital value of the leaseholds amounted to £1,572,583, and reductions on the mortgages under Section 2 of the Act totalled £653,610, making a total of £2,226,193. The Board had negotiated with tlife private mortgagees, and had unsecured creditors for the purpose of having debts discharged or reduced to afford soldiers relief. The total amount owing by soldiers affected amounted to £119.239, and, as the result of the Board’s/' negotiations, reductions in these debts amounting to £84,595 had been secured. In addition to this, the Dominion Board had completed negotiations for the purchase of private mortgages totalling £35,916. which had been, purchased at a discount of £l5 - 228.

A review of the position with respect to the advances made to the discharged soldiers for stock and improvements was now engaging the attention of the Department following authority provided by the Legislation last session and some 10,000 accounts ’would require to be dealt with by the Dominion Revaluation Board. An inspection of securities was being performed by tlie Department’s own officers.