THE MORTGAGOR'S EQUITY
'• , TO THE EDITOR. Sir,—ln Friday's issue of the Otago Daily Times the Minister of Finance makes the following statement: "In cases where the farmer is placed under a stay order the Government is prepared 1o abide by the provisions in the original Bill that the court may at its discretion grant the farmer an equity up to 20 per cent, of the basic value." ■ Did the Minister not, under pressure from numerous business men, withdraw that clause from the Finance Bill?—I am, etc.. Mortgagee. Milton, November 5. [The clause in the Rural Mortgrgors' Final Adjustment Bill, 1934', under -which the mortgagor retained an equity of nut more than 20 per cent., was withdrawn, while the measure was under consideration in the House of Representatives. Mr Gpates's statement, whicli is correctly quoted by "Mortgagee," applies to the case of mortgages to the State, and is necessarily not of general application.— Ed., O.D.T.] /
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Otago Daily Times, Issue 22721, 6 November 1935, Page 6
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154THE MORTGAGOR'S EQUITY Otago Daily Times, Issue 22721, 6 November 1935, Page 6
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