COMMITTEE OF EXPERTS.

Manawatu Standard, Volume LIV, Issue 252, 21 September 1934, Page 6

COMMITTEE OF EXPERTS.

MORTGAGE CORPORATION SCHEME. WELLINGTON, Sept. 21. The scheme propounded in the Budget for the establishment of a National Mortgage Corporation has been referred by the Minister of Finance (Rt. Hon. J. G. Coates) to an expert committee of departmental officers, who are now engaged in the compilation of requisite information, particularly of a statistical nature. The members of the committee are: Messrs P. D. Verschaffelt (Public Service Commissioner), chairman, E. 0. Hales (State Advances Department), J. Snell (Public Trust Office), B. C. Ashwin and G. C. Rose (Treasury), V. Robertson (Lands Department) and B. L. Dallard (Justice Department). The last-named has been appointed particularly to supply information regarding the results of the operation of the mortgagors and tenants relief legisThe Budget announced that legislation incorporating the National Mcnt” gage Corporation would be introduced next session. Inquiries yesterday indicated that it might be possible to introduce legislation bearing on the subject this session, but that has not yet been settled.

CHAMBER’S INVESTIGATION

BY SUB-COMMITTEE. Per Press Association. WELLINGTON, Sept. 20. The proposals made by the Government in regard to the establishment at a future date of a National Mortgage Corporation are to he the subject of an investigation by a sub-committee of the Associated Chambers of Commerce, appointed at a meeting to-day of the executive of that body. Mr H, S. E. Turner said the Budget statement had given only a general indication of the proposals, and the Minister of Finance had said that a considerable amount of preliminary work would be necessary in elaborating it. The matter was one that would require a good deal of investigation, said Mr Turner, including the important point as to whether private enterprise was to carry on its mortgage business.