MORTGAGE LEGISLATION

Poverty Bay Herald, Volume LXIII, Issue 19041, 15 June 1936, Page 4

MORTGAGE LEGISLATION

"INJUSTICES INFLICTED"

COMPANY'S VIEWS The difficulties which have been created by much of the recent legislation, especially in its effect on trustee companies, were emphasised by Mr. W. E. Reynolds in his address in Dunedin.' at the fifty-second annual meeting of the Perpetual Trustees, Estate M.d Agency Company, limited.

"For four years we have been living of financial changes and labouring under innumerable difficulties, resulting from drastic legislation, which, it was considered necessary to enact to meet the past and presentday needs o£ the Dominion," continued Mr. Reynolds. "As a result we have been called upon to meet many changes. It would appear that we are to be subjected to still further farreaching legislation, the effect of which we cannot as yet estimate.

"The great majority of mortgagees are conversant with the conditions that have prevailed and are reasonably well disposed toward the farmer in his efforts to rehabilitate himself," Mr. Reynolds added. "We do not find mortgagees at all willing or anxious to exploit the position, but rather the reverse. Nevertheless, in some instances the mortgagee has not had the treatment to which he was justly entitled, and some portions at least ot the mortgage legislation had inflicted injustices upon him."