ADJUSTING MORTGAGES

Poverty Bay Herald, Volume LV, Issue 17454, 31 December 1930, Page 12

ADJUSTING MORTGAGES

ADVISORY BOARD SCHEME PROPOSAL AT HAMILTON A suggestion that an advisory board, recognised by the Government, should be appointed to assist by advice farmers and others in financial difficulties owing to the present economic position was made at the weekly luncheon of the Hamilton Rotary Club. A motion was introduced by the president, Dr. H. Douglas, that, following the policy adopted by the club of developing closer relationship between town and country, the executive approach tiie local executive of tho Farmers’ Union with a view to suggesting that such- an advisory board be set up-. The objective of the proposed board would be-to endeavor-to 'bring together all parties concerned in each individual case, examine the position from all points of view, and make recommendations to the interested parties with a view to easing the position and enabling applicants to carry on their business until such time as they could meet their engagements in the ordinary manner. Mr. H. Valder, who seconded the motion, said that in the interests of both mortgagee and mortgagor a compromise would have to be made in many cases. Many people had offered suggestions, and the motion proposed appeared to him to bo the most reasonable course to adopt. Mr. Valder emphasised the point that the board would act on a voluntary basis, although it was advisable that it should be given some status by the Government. Mr. I>. Hay said he did not think the motion came within the scope of the club’s functions. The motion was carried.