THE MORATORIUM.
SOME INTERESTING POINTS. (Per P'oss Association.) ' WELLINGTON, April 4. Regarding the moratorium, a- case was mentioned by the Attorney-General (Sir Francis Boll) whore money was deposited with an investment company at 4-i per cent. The owner, owing to the company refusing to allow him to withdraw to meet engagements, had to borrow from the bank at sever, per cent. Tho question was asked whether such people had a right under the Act to charge the difference in rates against the company holding the money. Sir Francis said the position was that the man spoken of had to suffer for the good of the country as a whole up 1° May 31. That w,o'3 the date to which the absolute moratorium existed. After that the moratorium would bo continued only in cases where tho company concerned gave the necessary notice. Then tho lender would he entitled to at least ope per cent, extra. The lender in the position stated might feel that he had a claim to the extra percentage charged him by the bank, but that was a matter to be placed before a judge of the Supreme. Court in chain bin's who would have to decide tho question of hardship.
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Bibliographic details
Manawatu Standard, Volume XLIII, Issue 293, 5 April 1921, Page 5
Word Count
203THE MORATORIUM. Manawatu Standard, Volume XLIII, Issue 293, 5 April 1921, Page 5
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