DEPOSITS WITH MERCANTILE HOUSES. EXTENDING THE MORATORIUM. WELLINGTON, July 7. The moratorium, in so jar a - it relates to moneys placed in deposit with mercantile and other firms, expires on December 31. Of course, provision has been made for depositors in certain circumstances applying to the court for repayment in part or as a whole, as the court decides, but as the law stands all deposits will have to be repaid after December 31. The law, however. will not be allowed to remain as it is. From Sir Francis Bell, as Attorney-General, it is learned to-day that a Bill will be drafted in due course to meet the position that might, arise after December 31. The measure to he drafted will provide for the gradual release of deposits. It is not proposed to lift the moratorium all at once, so far as deposits are concerned, but provision will bo made for their progressive repayment
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Otago Witness, Issue 3513, 12 July 1921, Page 51
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154Untitled Otago Witness, Issue 3513, 12 July 1921, Page 51
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