MR MILLAR AT AT MAORI HILL.

Otago Daily Times, Issue 10362, 17 May 1895, Page 3

MR MILLAR AT AT MAORI HILL.

Mr J; a. Millar, M.H.tt., addresssd ■ a meeting of his constituents in fcho Maori Hill Council Chambers last night, the chair being I taker, by the Mayor of the borough (illr Aitken), who, in introducing the speelter, said that ho 'considered he had dons more for the district t.b'an any obher representative they had hu.d. Mr• Mii.lab explained to the masting the i naturs uf the measures that came up last | session: ;It had been said that the advances- to ' settlors scheme was going to be a failure,' hub | they had seen the success of the firat step by tho floaliug of the 3 per eenb. loan. The credit of the colon? stood higher at present hi the estimation of London financiers than ever it did, Tho action of thft Government had been the means also of bringing down the rate of interest;. The lawyers wore against the advances to settlers scheme because it reduced the taw charges and coaiss. The law charges *ud other coats in connection with loans 'on mortgage under the various acts were as follow:— OLD CHARGES. Deeds Kegihtry. Land Transfer Act. Act. £ 1(10 » U „.£ 416 0 £ 3 lii 0 500 U 0 ... (US ti 416 0 JliOO (I 0 ... ,4 11 0 611 0 25U0 0 0 ... 17 8 0 11 15 0 CHEAP .MONKY SCHEME. £ 1(111 0 0 ... £2 10 fj £1 4 6 HO') 0 0 ... alO 0 ] 4 fi 1000 0 0 ... 4 0 0 ils 0 ■ 2501) 0 0 ... 510 I) 2 5 {! Duder the oldsjßtera there were in addition conveyancing charges and valuation Ccc, while it, was cuatoinsry to charge I par cent as a procuration tea. The charges oa a loan of, say £2500 would be as follows :— Ol,r> CHARGES. Deeds Registry Land Transfer Act. Act. 1 Law costs £17 8 0 £1115 0 Valuation 3 3 0 3 :! 0 Procuration fea ... 85 0 0 25 0 0 Total £-JS~U~O ' £39 IS ' 0 CHEAP IIONKY SCHEME, Law costs £5 10 0 £2 5 fi ' Valuation 2 2 0 2 2 0 Procuration fee ... — Total' „. ;.._ £7 12 0 ; £T~6 There was thus a difference oF £37 19s in favour of tho cheap mnuey schema for mortgages under the Deeds Registry Act, and £3b 10s 6d under the Land Tcau?fw Act. He con^i(i!>•■l>d .'the purchases made under fthe Land* for Settlement Act would pay handsomely.' In refcreuco' to the charitable aid quefttioii, hs said the city of Dunediu had ecdowmnats whicli brought in £11,000 per annum, and thf. contribution to charitable aid was £4000, which left the city a balauce of £7000. A suitable way ho thought to meet the matter was to create a charitable aid board for the whole district, and the endowments should be applied for tho boneflb : of the whole. Ou the motion of Me J. D. Scoolas, seconded by BJi-s Powell, a hearty vote of thanks and coufideuce was tendered to Mr Millar. 4,