MORTGAGE PROPOSALS

New Zealand Herald, Volume LXXII, Issue 22155, 8 July 1935, Page 11

MORTGAGE PROPOSALS

STATE ADVANCES LOANS TRANSFER ARRANGED MAGNITUDE OF THE TASK [BY TELEGRAPH —PRESS ASSOCIATION] INVERCARGILL, Sunday A statement that steps had already been taken by the Government for the transfer of the mortgage assets of the State Advances Office to the Mortgage Corporation was made by the actingMinister of Finance, the Hon. A. Hamilton, last evening. " A transfer of such magnitude requires some measure of preparation," said the Minister, " and the State Advances Office has already proceeded to some extent with this preparatory work." The Minister said that acting on the recommendation of the State Advances Board he had agreed to that offico not accepting any new applications for loans after June 30. New applications would be recorded and handed over to the Mortgage Corporation as soon as it was in a position to commence business. EX-SOLDIERS' PROTESTS WAIIIARAPA RESOLUTIONS [BY TELEGRAPH —PRESS ASSOCIATION'] CARTERTON, Saturday A largely-attended meeting of returned soldier settlers, representing the Bush, Eketahuna and Wairarapa districts, was held at Carterton yesterday. The following resolutions were carried unanimously: " (1) That urgent action for the revaluation of all returned soldier settlers' holdings be asked for, 011 the basis of the present-day prices of produce. " (2) That all soldier settlors' mortgage business remain with the Commissioner of Crown Lands, under the Discharged Soldiers' Settlement Act, and that this resolution be sent to the Dominion executive of the Returned Soldiers' Association, requesting the Government to bring down an amendment to the Mortgage Corporation Act to permit of returned soldiers remaining under tbo Discharged Soldiers' Settlement Act. "(3) That all resolutions having tin? unanimous support of this meeting be forwarded to the Dominion executive of the Returned Soldiers' Association, requesting them to circulate them to all branches throughout the Dominion, so that they may be discussed and any decisions forwarded to the Dominion executive, with a demand that the Cabinet be asked to act in these matters." It was added that all delegates to , meetings should be returned soldier , Crown settlers. SOUTH ISLAND POSITION FEW SECOND MORTGAGES

[by telegraph—OWN correspondent] DUNEDIX, Sunday A statement that very few dairy farmers in Otago would take advantage of the Mortgage Corporation's money was made yesterday by Mr. S. Bowman, manager of the Waitaki Dairy Company, Limited. Mr. Bowman added that as far as his company was concerned it knew of only one case out of a large number of farms throughout the whole province in which there was a second mortgage. In his opinion the legislation had been designed to help the North Island people. I MEETING AT CAMBRIDGE OPPOSITION TO CHANGE [from our own correspondent] CAMBRIDGE, Saturday A special meeting of the soldier settlers of the Cambridge district, held to-day to discuss the position of discharged soldier mortgagors as 1 affected by the mortgage regulations, carried the following resolution: "This conference enters an emphatic protest 1 against the handing over to the Mort--1 gage Corporation of the returned i 7 soldiers' mortgages instead of maint taining them under the direct control G of the State, as was implied in the contracts which were entered into." l =