NEW ZEALAND LAND LAWS.
/Press 'Assn.— By Telegraph— Copyright.; (Received September 7, 8.43 a.m.) SYDNEY, Sept. 7. Tlie Daily Telegraph, commenting on Mr McNab s reply to its assertion that the power of foreclosure was taken away sixty years ago, says the reply is a fairly large one, because sixty years ago New Zealand as a colony hardly existed and had no. land laws. There have been many foreclosures since then, and financial institutions were boomed up with land. New Zealand, m addition to the graduated land tax, will now give a notice to quit, and companies will realise and take capital away from the colony. It appears to us that banks or insurance companies will be debarred from advancing money to buyers, as m time of depression a lot of property might be thrown on their hands which they cou.- not hold if serious loss should be involved. It would be due to State confiscation of the right to hold property paid for which hitherto existed, and on the strength of which capital was invested m the country. ______________________
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Bibliographic details
Poverty Bay Herald, Volume XXXIII, Issue 10763, 7 September 1906, Page 3
Word Count
179NEW ZEALAND LAND LAWS. Poverty Bay Herald, Volume XXXIII, Issue 10763, 7 September 1906, Page 3
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