TO AID SOLDIERS

Hawera Star, Volume XLVIII, 30 October 1924, Page 5

TO AID SOLDIERS

LEGISLATION IN FAVOUR. IMPORTANT PROVISIONS. PREMIER’S STATEMENT. (By Telegraph.—Special to the Star.) WELLINGTON, Oct. 30. When an amendment to the Discharged Soldiers’ Settlement Bill was . introduced to-night the Premier expressed the opinion that the whole of the alterations were in favour of soldier settlers. The Dominion Revaluation Board is empowered to deal with any application for a revaluation which was received too late,- but which was in course of transit to the Dominion Board within the time prescribed. The board can, ih the case of mortgages, given as security for improvements, stock, etc., reduce the amount owing under the mortgage and direct that any part of such mortgage can be transferred to a suspense account free of interest, for any period not exceeding three years. Provision is made that in cases of the realisation of securities, under the power of sale, the Minister, on the recommendation of the Land Board, may write off the excess of mortgage debt over the amount realised, and thus free the mortgagor from any further liability under the personal covenants of his mortgage. Provision is made whereby the values of buildings on settlement land leased to discharged soldiers can be reduced as from July 1, 1921, or from the date of the lease, whichever is later. Power is given to discharged soldiers who hold small grazing run leases of Crown and settlement land to obtain extensions of their leases for any period not exceeding ten years. REVALUATION PROGRESS. (BY TELEGRAPH —PRESS ASSOCIATION. MASTERTON, Oct. 29. Reference to the revaluation of soldier settlers’ properties was made by the Hon. A. D. McLeod (Minister for Lands) at a social gathering at Carterton to-night. The Minister claimed that though the Government had not achieved _ a total clearance for these men, their position 'nad been improved 90 per cent. Of <5347 applications 3840 had been revalued, a total of 72 per cent., leaving 28 per cent, still to be considered. Reductions in respect of these cases amounted to £1,408,202, and if the board continued this active writing off the actual loss would be £1,900,000 to £2,000,000- —not such a great loss as many critics had imagined-when the scheme was first launched. The total amount owed by settlers amounted to £79,481, and as a result of the board’s negotiations reductions in these debts amounting to £53,966 had been secured. ; In addition to the foregoing the Dominion Board had completed negotiations for the purchase of private mortgages totalling £16.902, which had been purchased for £8451.