LAND FOR SETTLEMENT FINANCE BILL.

Oamaru Mail, Volume XXXVIII, Issue 10578, 6 October 1910, Page 4

LAND FOR SETTLEMENT FINANCE BILL.

•-(From .Our Own-Correspondent.) Wellington. October 5; ■ The very few oats in a bushel of chaff duruig tlie~iune liours' stonewall this morning consisted of amendments to the Land-for Settlement Finance Bill, which provides: for. of blocks of laiid-by • associations of settlers. The amferidments- proposed by the Governalthough the .Opposition-set out to block them. The first--"lnnreased the pur ehuseable value o£> an l ? allotment- irom £2OOO to £2500; tl»-■seconds'reduced the miniimiiu area of. allotments'from 50 acres to 25 acres; the-third provided l that debentures is- 1 sued-'ibv ail association .should be allocated to the various allotments to be a charge oil them individually and on no otlibr, and that on the payment of all moneys due under the mortgage made on the purchase of any allotment, the liability of the purchaser should cease. A new clause was inserted, providing for the payment of .] per cent, on the purchase money, as an assurance fund for the payment of principal and interest due hv a defaulter. Provision was also made in the case of any allotment pending .its resale. It was also resolved to omit the clause providing that the price should be fixed by arbitration. the Prime Minister stating that the matter should be left to the T.:tnd Board for the protection of the State against secret agreements between the vendors and- the association to fix a, high price. The Prime Minister promised to recommit the Bill to insert a I clause preventing reaggregation.