SUBSCRIBED
A BODY CORPORATE ' MORTGAGE CORPORATION OF N.£ (Per Press Association, Copyright). WELLINGTON, June 28. In this week's gazette, the acting Minister of Finance (the Hon A. ‘Hamilton'' gives piiliiit- notice of the tact that the lull amount of capital of the mortgage corporation of New Zealand has been snscrihcd and fixes July 1 next, as the date on which shareholders of the Corporation should become a liodv corporate. On enquiry being made whether this meant that the Mortgage Corporation wi'l be in a position to commence business on July 1, the chairman of directors (Sir N. 1). Hunt) stated that a certain time must elapse before the corporation could commence actual lending operations. A great amount of preliminary work and organisation still requires to .be done, including (arrangements for the transfer to the corporation of the present State advances mortgages, before the Corporation is ready to ileal with applications for loans and preliminary work, and the organisation cannot bo completed by July 1. Sir William stated that due notice would be given of the date when the corporation was ready to commence actual lending operations.
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Bibliographic details
Hokitika Guardian, 28 June 1935, Page 5
Word Count
186SUBSCRIBED Hokitika Guardian, 28 June 1935, Page 5
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