MORTGAGE ADJUSTMENTS.
REDUCTIONS IN PRINCIPAL. POWER FOR COURT URGED. [BY TELEGRAPH. —PRESS ASSOCIATION.] WELLINGTON, Wednesday. Tho executive of the New Zealand Farmers' Union passed a resolution that the Courts to which mortgage adjustment commissions made recommendations should have the power to make reductions in principal as well as interest.
A reduction of interest for a year or two was not sufficient, said the president, Mr. W. J. Poison, M.P., for a man who had a mountain of debt ahead of him. If there was a possibility of reducing the principal, the farmer who lived on the land and could turn to nothing else would have renewed hnpe and courage to go ahead and get on with the job of production.
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New Zealand Herald, Volume LXIX, Issue 21098, 4 February 1932, Page 10
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120MORTGAGE ADJUSTMENTS. New Zealand Herald, Volume LXIX, Issue 21098, 4 February 1932, Page 10
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