CHECKING MONEY FLOW

Hawera Star, Volume LII, 26 January 1933, Page 5

CHECKING MONEY FLOW

DOM INION LEG ISL ATI ON CA NTEfRBUR Y PROTESTS ,By Telegraph—Press Association.) CHRISTCHURCH, Jan. 25. A Canterbury- branch of the Netv Zealand Mortgagees’ Protection Association was formed to-day, a constitution being adopted and officers elected. It was agreed to telegraph to the Prime Minister emphatically protesting against further cuts in mortgagees’ interest or contraction of mortgagees’ rights.

Other motions carried were that mortgagees should be represented on the mortgagors’ adjustment commissions, that the drastic legislation of the past few months was having aserious effect on financial recovery of •the country, that investors not only were finding that their rights in respect of existing contracts had been ruthlessly’ cut but also l were afraid to Inter into new ones for fear that similar or even more drastic legislation might be passed in future. The result, it was claimed, was that the flow of money for securities had definitely stopped.