MORTGAGE CORPORATION
Will be Some Time Before Operations Commence MUCH PRELIMINARY WORK TRANSFERS FROM STATE (2y Telegraph—Press Association.) WELLINGTON, To-day. In this week’s Gazette the ActingMinister of Finance, the . Hon. Adam Hamilton, gives public notice of the fact that the full amount of capital of the Mortgage Corporation of New Zealand has been subscribed, and he fixes July 1 next as the date on which shareholders of tho corporation shall become a body corporate. On enquiry being made whether this meant that the Mortgage Corporation will be in a position to commence business on July 1, the chairman of directors (Sir W. D. Hunt) stated that a certain time must necessarily elapse before the corporation could commence actual lending openations. A great amount of preliminary work and organisation still required to be done, including arrangements for transfers to the corporation of the present -State advances, mortgages, before the -corporation is ready to -deal with applications for lotans, and the preliminary work and organisation coukl not be completed by July 1. Sir William stated that due notice would he given of the date when the corporation was ready to commence actual lending operations.
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https://paperspast.natlib.govt.nz/newspapers/HAWST19350628.2.32
Bibliographic details
Hawera Star, Volume LIV, 28 June 1935, Page 4
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192MORTGAGE CORPORATION Hawera Star, Volume LIV, 28 June 1935, Page 4
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