RURAL MORTGAGES

Hawke's Bay Tribune, Volume XXV, Issue 162, 25 June 1935, Page 11

RURAL MORTGAGES

Corporation Office and Staff STATEMENT BY MINISTER By Telegraph—Press Association WELLINGTON, June 24. It was stated by the acting-Minister of Finance, Hon. Adam Hamilton, today, that the secretary for the new Mortgage Corporation of New Zealand will be selected from the staff of the State Advances Department. The question of office accommodation for the corporation will be considered at the first meeting of the board of management. It is understood the corporation wifi be accommodated in the building on Lambtxm Quay now occupied by the State Advances Department and other departments.

Arrangements are now being made for the Mortgage Corporation to take over the whole of the staff of the State Advances Department which is engaged on securities that are to be transferred from the State to the corporation. The Public Service Commissioner has arranged to second for service with the Mortgage Corporation for a period of two years such members of the State Advances Department’s staff as will be required by the corporation in dealing with rural mortgages. All existing rights and privileges of the staff to be taken over will he protected for the

two-years period of service with Ihe corporation, after which future conditions will be a matter of arrangement between the corporation’s board of management and the officers transferred to its service.