SOLDIER SETTLERS

Southland Times, Issue 19388, 31 October 1924, Page 8

SOLDIER SETTLERS

AMENDING LEGISLATION. MORTGAGES FOR STOCK. LEASE OF PASTORAL RUNS. (Our Parliamentary Reporter.) WELLINGTON, October 30. A measure of some importance to soldier settlers was introduced in the House of Representatives last night by GovernorGeneral’s message. The Prime Minister, in the absence of the Minister of Lands, said that the amendments proposed in the Bill were the outcome of the experience of the operation of the re-valuations, and explained the purpose of the Bill briefly. “Provision is made,” said Mr Massey, “whereby the Dominion Land Revaluation Board is empowered to deal with any application for a re-valuation which was received too late, but which was in course of transit to the Dominion Board within the time prescribed. Provision is made whereby the Dominion Board can, in the case of mortgages given as security for improvements, stock, etc., reduce the amount owing under the mortgage, and direct that any part of such mortgage can be transferred to a suspense account, free of interest, for any period not exceeding three years. Provision is made by which in cases of realisation of securities under power of sale, the Minister of Lands, on the recommendation of a Land Board, may write off such amount as represents the excess of the mortgage debt over the amount realised, and thus free the mortgagee from any further liability under the personal covenants of his mortgage. The values of buildings on settlement land leased to discharged soldiers can be reduced as from July 1, 1921, or from the date of lease, whichever date is the later, and power is given by which discharged soldiers who hold small grazing run leases of Crown and settlement lands, can obtain extensions of their leases for any period, not exceeding ten years.” The Bill was read a first time, and referred to the Lands Committee.

DEALING WITH THE APPLICATIONS. STATEMENT BY MINISTER OF LANDS. (Per United Press Association.) MASTERTON, October 30. Reference to the revaluation of soldiers settlers’ areas was made by HoruA, D. McLeod, Minister of Lands, at a social gathering at Carterton last night. The Minister claimed that, though the Government had not achieved total clearance for these men, their positions had been improved 90 per cent. Of the 5347 applications, 3840 had been revalued, a total of 12 per cent, leaving 28 per cent still to be considered. Reductions in respect of these cases amounted to £1,408,202, and if Boards continued this active writing off, the actual loss would be '£1,900,000 to £2,000,000, not such a great loss as many critics had imagined when the scheme was first launched. The total amount owed by soldiers amounted to £79,481, and as a result of Board negotiations, a reduction in these debts amounting to £53,996 had been secured. In addition to the foregoing, the Dominion Board had completed negotiations for the purchase of private mortgages amounting to £16,902, which had been purchased for £8451.