MORTGAGE ACT

Manawatu Standard, Volume LIV, Issue 297, 13 November 1934, Page 2

MORTGAGE ACT

LEGISLATION BEING PREPARED. MR COATES’S AUSTRALIAN TRIP. Per Press Association. WELLINGTON, Nov. 13. No time has been lost by Rt. Hon. J. G. Coates in the preparation of the proposed legislation for establishing a National Mortgage Corporation. Man> consultations have already taken place since the session adjourned and it is expected that Mr Coates will circularise those vitally affected this week, Ihe Bill will be drafted within a few days and this will also be submitted to the interested parties for their opinions. As soon as these are to hand they will be forwarded to Mr Crates in Australia so that lie may keep the closest touch with the situation. Mr Coates said to-day that on his return from Australia there would be a series of conferences and there was no doubt that the legislation would he ready for introduction in the early stages of the resumed session. Mr Coates and Mrs Coates, Hon. R. Masters and Mrs Masters, Dr Craig (Controller of Customs) and Dr Campbell (private secretary to Mr Coates) are leaving for Australia on Thursday to discuss trade and other matters with the Commonwealth Government. The visit was arranged last night following a telephone communication between Mr J. A. Lyons and Mr Coates. One of the main items for discussion will be the meat question, of which a serious view is taken by. the Australian Government. Apart from general trade matters the other main point will be a discussion regarding the position of the commercial banks in Australia and New Zealand. Defence matters are unlikely to be touched on to any extent owing to the impending visit of Sir Maurice Hankey and Sir George Pearce to Wellington next week.