RURAL MORTGAGORS

Poverty Bay Herald, Volume LXII, Issue 18760, 17 July 1935, Page 8

RURAL MORTGAGORS

AID UNDER ACT BENEFICIAL LEGISLATION (Per Prnss Association.) WELLINGTON, last night. "A report from tho South Island that some interests arc shy in taking up quickly under the Rural Mortgagors Final Adjustment Act is hardly correct," remarked the acting-Prime Minister, Sir Alfred Ransom, to-night. "•Papers before me," lie said, "indicate that the operation of the new legislation is spreading its beneficial effect, and being beyond the initita! stages of its inception there .should be from now onwards it fairly large mim•ber of applications made by persons whose unfortunate positions the Act was designed to meet and help." ■Sir Alfred quoted from a return sent to him by the Minister of justice, the Hon.' J. (J. Oobbo, within who.se province comes the administration of the Rural .Mortgagors Final' Adjustment Act. The return showed that a total of 8!) applications for final adjustment under the Act had been filed throughout the Dominion. Sixty-one of these were filed by mortgagors and 28 'by mortgagees. The adjustment commissions had .as yet. finally dealt with only a small proportion of those applications, and consequently no appeals to the Court of Review bad so far been filed. The sittings of the Court of Review bad •so far been confined to the hearing of applications under the Mortgagors and Tenants Relief Act, 1033.

"This new legislation," added Sir Alfred, "will assuredly be found to work as satisfactorily and as efficiently as that under which the mortgagors adjustment commissions have worked."