FARMERS’ MORTGAGES

Hawera Star, Volume L, 24 February 1931, Page 4

FARMERS’ MORTGAGES

SOUTH TARANAKI COMMITTEE PERSONNEL ANNOUNCED.

The South Taranaki provincial executive of the Farmers’ Union has issueci the following circular to members: ‘‘ln order to otter some assistance to farmers this provincial executive has set up a special committee to deal with difficulties between mortgagee aiul mortgagor arising out oi me present economic depression. The inemoers of the board will act in an honorary capacity and the submission or dmerences will, of course, be purely voluntary, but it is felt that it only a small numoer ol cases are satisfactorily dealt with the establishment ot the committee will be fully justmed. “All must realise the necessity oi Keeping up production m New so long as it can he done on economical and sound lines, in most cases the best way to achieve this is to let the present occupier oi the farm do it, provided he is capable of the job. “it appears impossible to finance the majority of farms for the 1931-32 season without some definite arrangements, because the mortgagee is necessarily seldom prepared to allow any property over which lie holds security to be worked for a year without anj prospect of receiving at least some interest, if the returns from the farm warrant it, except in those cases where the amount of the mortgage on ttie land is small enough to allow for the capitalisation ot the interest. Similarly the banker cannot be expected to advance money for the growing of various crops or the production of milk, wool and lambs without some assurance that the mortgagee w r ili not go linto possession, because interest is overdue, before the crops have been harvested. With the dairy and sheep farm there is the necessity of knowing that the stock can remain on the property till the end of the season. “The advice of the land charges adjustment committee is available to all farmers in the South Taranaki provincial district as an effort to bring about an equitable compromise between the interested parties. “All applications for consideration will be treated in strict confidence and no charge will he made for the advice, but where it is necessary to have a valuation inspection made the expenses of such valuation will be paid by the applicant. “The personnel of the committee is as under: Valuer, A. T. Wills, Cameron Street, Hawera; solicitor, T. A. Kinmont, Hawera; banker, El. R. S. Dale, manager, Commercial Bank of Australia, Ltd., Hawera; practical farmer, H. E. Johnson, Tokaora; accountant, E. K. Cameron, public accountant, Hawera; Farmers’ Union, one nominee to be appointed; Parliamentary, H. G. Dickie and C. A. Wilkinson, members of Parliament for Patea and Egmont electorates.

“Those desirous of taking advantage of the services of this committee should communicate with the provincial secretary (Mr. E. K. Cameron), from whom further particulars can be obtained.” A movement to establish a mortgages adjustment committee is now on foot in North Taranaki.