MORTGAGE LEGISLATION

New Zealand Herald, Volume LXXIII, Issue 22444, 13 June 1936, Page 16

MORTGAGE LEGISLATION

"INJUSTICES INFLICTED"

TRUSTEE COMPANY'S VIEWS

[by tf.t.kgraph—OWN correspondent] DUX ED IN, Friday

The difficulties which have been created by much of the recent legislation, especially in its effects on trustee companies, Mere emphaised by Mr. W. E. Reynolds in his address at the 52nd annual meeting of the Perpetual Trustees, Estate and Agency Company, Limited, to-day. "For four years past we have been living through days of financial changes and labouring under innumerable difficulties, resulting from drastic legislation, which it was considered necessary to enact to meet the past and presentday needs of the Dominion," continued Mr. Reynolds. "As a result we have been called upon to meet many changes. It would appear that we are to be subjected to still further far-reaching legislation, the effect of which we cannot as yet estimate. " The great majority of mortgagees are conversant with the conditions that have prevailed and are reasonably well disposed toward the farmer in his efforts to rehabilitate himself," Mr Reynolds added. "We do not find mortgagees at all willing or anxious to exploit the position, but rather the reverse. Nevertheless, in some instances the mortgagee has not had the treatment to which lie was justly entitled, and some portions at least of the mortgage legislation have inflicted injustices upon him."