MORTGAGE CORPORATION

Manawatu Standard, Volume LV, Issue 176, 25 June 1935, Page 3

MORTGAGE CORPORATION

SELECTION OF STAFF. FROM STATE ADVANCES OFFICE. Per Press Association. WELLINGTON, June 24. It was stated by the acting-Minister of Finance (Hon. A. Hamilton) to-day 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 hoard of management. It is understood that the corporation will be accommodated in the building on Lambton 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 lie 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 be protected for the two years period of service with the corporation, after which future conditions will he a matter of arrangement between the corporation’s board of management and the officers transferred to its service.