MORTGAGES ADJUSTMENTS

Taranaki Daily News, 27 May 1933, Page 6

MORTGAGES ADJUSTMENTS

SOME AMENDMENTS SUGGESTED. SOUTHLAND FARMERS OPINIONS. By Telegraph—Press Association. _ Invercargill, Last Night. The annual provincial conference of the Farmers’ Union was held to-day, the Dominion president, Mr. W. J. Polson, M.P., being among those present. Mr. Polson delivered an address on the quota system, the adoption of which by New Zealand he strongly opposed, stating that quotas ward not in accordance with, the Ottawa agreement, and that were New Zealand to agree to them future expansion would be strangled. . , The union’s economic committee submitted a lengthy report and the conference resolved that it be suggested that an adjustment be made to the Mortgagees" Adjustment Act along the following lines:— (a) An equitable arrangement be made between the mortgagor and mortgagee providing for security of tenure for deserving mortgagors for a period of three years, either the mortgagor or the mortgagee to have the right to ask for review, alteration or cancellation of the arrangement made if cause could be shown. (b) That deserving mortgagors who are making a reasonable attempt to maintain the mortgagee’s security be protected by legislation against demands for further security. (c) That relief commissions be given discretionary powers to deal with arrears of interest accruing under a pooling arrangement between the mortgagor and mortgagee and stock firms.