REPATRIATION OF SOLDIERS

Otago Daily Times, Issue 18455, 17 January 1922, Page 2

REPATRIATION OF SOLDIERS

THE FINANCIAL POSITION. A SATISFACTORY RECORD. (Feom Odh Own Cobbespondent.) WELLINGTON, January 16. From time to time there has been an . attempt in certain quarters to make political capital out of the losses which it is alleged have fallen upon The country in connection with the repatriation of returned soldiers. The actual position, however, shows a very satisfactory state of affairs. Bad and doubtful debts to the Repatriation Department do not amount to more than one per, cent, of the loans granted to returned men,? Accords uig to an official statement issued':by the Minister in cnarge of Repatriation', (the Horn D. H. Guthrie) theloans to‘ date approved by the board and paid out amount ‘to £1,775,000. The amount of 'principal collected in monthly instalments from scldiera (almost 60 per cent, of the money lent) is £860,000. The number of loans fully repaid is 265? (business 1111, lurniture 999, miscellaneous ,557),, and the estimated possible future loss on account of ’ bad and I doubtfulhjdebts is £19.660 (Auckland 64- for i £4759, Wellington 68 for £4935, ChristI church 83 for i'4790, Dunedin 31 for £1046). •The total number of doubtful 'cases nowbeing shepherded is 346, with an average debt of approximately £57. At the Repatriation Board meeting held on January 12 a number of district quarterly reports on the bad and doubtful debts were read. Eoctracts from these reports arc given below. 4 Auckland.—There axe something like 200 borrowers for farming propositions who are in .arrears, many of whom were expected to Wipe out the deficiency of their! accounts before now. Unemployment is given by 42 as their reason for being in arrears,. while illness in the family or under medical treatment is tile reason given by 50. Many of the accounts in arrears are quite good, being covered by ample security, guaraiuess or orders for payment. ' Christchurch.—ln the return of bad and doubtful debtors no effort has been made to minimise the position, but rather, to show it in the worst possible light. In estimaing losses very poor prices have been allowed for realisation, and no allowances 1,..ve been made for grantors signing up ,to pay ariy deficit remaining, so that with due attention to these loons the net loss may be considerably reduced,. The arrears as a whole have been very, slightly reduced this quarter, trade depression haying made it extremely hard to show any appreciable improvement. However, the business arrears are mostly safe, and a big reduction in these should be effected after the harvest. Unemployment added to ordinary family diffioulties has made it impossible to obtain regular repayment in a large number of cases. Jn spite of all that we could reasonably do, arid we 'must appreciate the liifficulties of the grantors, in these hard times, it will be seen that the matter has been really regulated by conditions over which we have no control. , Wellington.—Our scale of repayments ( ia high, and this in some measure accounts for the arrears being so high. We have alreac’ collected about 40 per cent., so tliat eve the loans in arrear have been repaid. ] accordance with the dominion standard the full amount' accrued due had bbe paid, the collections oh these loans wou! have been just under 60 per cent., which probably much above the dominion averag The chief reasons for .the arrears are ui employment, sickness, and the general tigb ness/of money. It is significant that mar regular payer® first stopped paying, abe April and May of 1921 when trade bond tions first fcegame bad. As a general ru this board has required a loan of ±'3oo ( be paid o(T_ in three years, and the seal has been fairly well kept up. Tt is doub ful, however, if we can expect businesses, 1 make sufficient profits to” do this for titulars. ~ ' Dunedin.—The return showing the non ber of bad debts thdt have accumulate and ahe anticipated shows a total of nboi £IOOO. The estimate is a fairly liberal or a® regards business loans. With regard t ■furniture loans it is almost imipossibli to give an estimate, hut apart from bho; on the bad debt list the annlicntions are, i most cases,. in a good position, and were i necessary to, seize the realisation woul in air probability prevent any further losse from being incurred. ' -