MORTGAGE ADJUSTMENT

New Zealand Herald, Volume LXX, Issue 21520, 17 June 1933, Page 12

MORTGAGE ADJUSTMENT

FARMERS URGE REVISION CONSIDERING ALL .PARTIES [BY TELEGRAPH PRESS ASSOCIATION] NEW PLYMOUTH, Friday That a drastic downward revision of mortgage values should be made immediately was the burden of a resolution adopted by 100 farmers at a public meeting to-day. Mr. C. A. Wilkinson, M.P., Mr. S, G. Smith, M.P., and Mr. W. J. Poison, M.P., attended. Several schemes for revaluation and adjustment of mortgages were read, including one of Mr. Wilkinson's .and one planned by a business man to meet both borrower and lender. It was decided to urgo the Government to appoint a special committee to consider them and similar plans, and a deputation was appointed to wait on the lit. Hon. J. G. Coates at Hawera. Justice had to be done to the mortgagee, said Mr. Poison during his address. He could not forgot that responsibility. Determined as he was to help his fellow-farmers, he would not be a party to robbing fellow-citizens of their just sharo at the instance of any other class, j The meeting agreed that arrange- | ments just and equitable to both parj ties were desirable.