MORTGAGE RELIEF

New Zealand Herald, Volume LXXV, Issue 23201, 22 November 1938, Page 16

MORTGAGE RELIEF

iTOTAL OYER £7,800,000! WORK OF COMMISSIONS COMPLETION THIS YEAR REVIEW BY THE MINISTER [by telegraph—OWN correspondent] WELLINGTON, Monday . Reviewing the work done under the Mortgagors and Lessees Rehabilitation Act, 1036, the Minister of Justice, the Hon. H. G. R. Mason, stated to-dny that most of the commissions had completed their'work 'and within a fortnight or less the only commissions having work left in hand would bo the North Auckland commission and those for Nelson, South Canterbury, Otago and Southland. The work of these commissions would be completed before,. Christmas. The Nelson district was the only one as to which there was some little doubt, but there were, two commissions working in that district and he believed the work there would be completed along with the others by the time mentioned. To the end of October the grand j total of remissions made was £7,343,751. The Government was very appreciative of the work done by the commissions, of which there had been no fewer than 38 ordinary commissions working at one time, not to mention additional auxiliary commissions for 6pecial circumstances. Silent Servico Th<i Government realised, said Mr. Mason, that in most cases it meant a substantial sacrifice to a man to leave bis ordinary business or occupation to engage in temporary work of this description, and the Government had been fortunate in finding so many men of the requisite ability and public spirit. The work was largely silent service, involving little in tho way of personal publicity, but it had the 'appreciation of thousands of those who had appeared before the commissions, lliese parties, irrespective of whether or not tho judgment of the commission was in accordance with their desires, realised the great care and thoroughness with which the commissions made themselves 'acquainted' with the complex details necessary to enable them to come to a judgment in each case. The Minister also paid a tribute to the zeal and ability displayed by the Under-Secretary of the Department of Justice, Mr. B. L. Dallard, and his sfcaff in the administration of the Act. "Without this loyal co-operation tho work, the immensity of which was little appreciated b3' those not in contact with it, could not have been performed. The net result of this work was that a long period of instability and anxiety in the history of the private affaire of thousands of people had been definitely closed and they were now able to look forwa.rd to a better future. 'Statistical Summary Applications under the Mortgagors and Lessees Rehabilitation Act, 1936, closed at the end of February, 1937, and in April,.of that year adjustment commisisions appointed by the Government commenced their work hearing the 32,000-odd applications which had been, fil6d. The following is a statistical summary of the present position;— Applications filed: Farm, 15,233; other, l/,333; total, 32,566. Voluntary adjustments: Farm, 1055; other, 1076; total, 2131. Applications withdrawn: Farm, 2933; other, 4227; total. 7160. Order made: Farm, 10.066; other, 11,480; total, 21,546. Applications to be disposed of: Farm, 1170: other, 550; total, 1729. "The actual position is even better than the figures indicate, as the return relates to orders drawn up and filed in the Court of Review," said the Minister. "Nearly all of the 1720 cases ishown as awaiting hearing at the end of October havo now been heard, and in many cases orders have already been issued. \ Details o! Belle! "A substantial measure ci : relief has "been granted to mortgagors and lessees by the commissions; The torm of 7845 farm and 10.336 other mortgages has been extended, and in respect of 6755 farm and 9556 other mortgages the rate of interest has been reduced. Remission of principal or of interest has been granted in .4006 farm and 3710 other ° a "Pecuniary benefits to mortgagors are as follows: —Total amount' written off mortgages: Principal Farm, £4,133,239; other, £896,304. InterestFarm. £908,400; other, £102,400. Total, £6,220,343. In addition, in respect of 1857. farm and 141 other leases, rate of rental has been reduced or arrears of rent remitted, the total remissions on account of rental being:—Farm, £277,735; other, £288,701; total, £566,436'. Then there are remissions in respect of unsecured debts, which are as follows: —Farm, £771,247: other, £62.460;, total, £833.707. "The grand total of all remissions made bv the adjustment commissions to the end of October, 1038.". concluded the Minister, "is therefore:—Farm, £6,180,621; other, £1.162,130: total, £7,342,751."