LOANS ON FREEHOLD.
A.M.P. SOCIETY'S POLICY.
£TO PERMANENT, CESSATION. STABLE , VALUES AWAITED. [BY TELEGRAPH.OWN CORRESPONDENT.] .WELLINGTON. FricUy., In connection with Mr. Massey's statement yesterday concerning the A.M.P. Society, Mr. A, Amies, general-manager for New Zealand, to-day made the following statement: —
The Prime Minister is reported as having said in the House of Representatives last night that ho had frequently heard the A.M.P. Society had declined to lend any more money on freehold securities in New Zealand, and that ho believed it to be true. lam in a position to say emphatically that it is not true, and I shall bo glad if publicity is given to this denial. When land is released from some of tho burdens it now carries, and values thus become stabilised at a safe ' level, the society will, when it has money available, continue its settled- policy of lending to the producer, from who it obtains so lnrgo a proportion of its assurance business.
The society is bound to consider "safety first in investing its policy holders' money. What sane man would say that land mortgages are as safe at tho present time as loans to local bodies, which also pay as largo a part in the development of the country as loans to individuals ?
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Bibliographic details
New Zealand Herald, Volume LX, Issue 18457, 21 July 1923, Page 10
Word Count
209LOANS ON FREEHOLD. New Zealand Herald, Volume LX, Issue 18457, 21 July 1923, Page 10
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