RELIEF OF MORTGAGORS.

Poverty Bay Herald, Volume XLVIII, Issue 15741, 4 February 1922, Page 3

RELIEF OF MORTGAGORS.

DEPUTATION TO PREMIER. (Prom our parliamentary Keporter.l WELLINGTON, this day. The Premier was interviewed by a deputation of members and the secretary of the Dairy Farmers' Union to submit suggestions adopted by a committee for the relief of mortgagors. The members present were Messrs Poland, Hockley, McNicol, and McOoombs. They asked that the Government appoint officers t.o act as mediators with a view to adjusiing mortgages by mutual consent or arranging for a postponement of interest not beyond January, 1923; that tlie Oommisioner of Stamps have discretion to remit gift duty on reductions of mortgages, and that where application is made for mediation all legal processes be stayed until the mediator has adjudicated. The Premier readily agreed to the gift duty proposal, and undertook to consult the Valuer-General and other officers with a view to assisting in mutual arrangements for adjustment. He could not undertake to pass legislation on the proposals. ,Per Press Association 1 WELLINGTON, this day. An informal committee of members of the House, formed this week to consider the requests of the Dairy Farmers' Union for clief from troubles that have been broight upon them by the decline in produce values, waited on the Prime Minister to-day, and put forward suggestions. Mr. Massey readily agreed to a proposal that the Government appoint officers to act as mediators or adjusters with * view to arranging the re-adjust-ment of existing mortgages by the mutual consent of the parties concerned. If the parties agree mutually to a reduction of mortgages the Commissioner of Stamps shall be empowered to remit, at ' his discretion, the payment of gift duty. Mr. Massey would not undertake to pass legislation, but thought an agreement could be made to set up a mediator. There were great difficulties in re, gard to the suggestions dealing with the postponement of rent, and ho would go into the matter with the Valuer-General, and do what he possibly could.