Drastic Downward Revision of Mortgages
.JUST AND EQUITABLE TO EOTH PARTIES. Per Press Association NEW PLYMOUTH, Last Night. That a drastic downward revision of mortgage values should be made inanediately was tho text of a resolution ’adopted by 100 farmers at a public meeting to-day. Messrs. C. A. Wilkinson, S. G. Smith and W. J. Poison, M’s.P., attended. Several schemes for revaluation and adjustment of mortgages were read, including Mr. Wilkinson’s and one planned by a business man to meet both borrower and lender. It was decided to urge the Government to appoint a special committee to consider them and similar plans, and a deputation was appointed to wait on Mr. Coates at Hawera.
“Justice has to bo done to the mortgagee,” 3aid Mr. Poison during his address. Ho could not forget that responsibility determined as ho was to help his fellow farmers. Ho would not bo a party to robbing his fellow citizens of their just share at tho instance of any other class. Tho tono of the meeting was that just and equitable arrangements to both parties were desirable.
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Bibliographic details
Manawatu Times, Volume LVI, Issue 7185, 17 June 1933, Page 7
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181Drastic Downward Revision of Mortgages Manawatu Times, Volume LVI, Issue 7185, 17 June 1933, Page 7
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