MORTGAGES ON FARM LANDS

Taranaki Daily News, 30 April 1934, Page 9

MORTGAGES ON FARM LANDS

SUPPORT FOR MR. WILKINSON. DISCUSSION BY MANGOREI FARMERS The efforts of Mr. C. A. Wilkinson, M.P. for Egmont, to have the question of mortgages on farms included in the order of reference of the Royal Commission recently established, received support at a well attended meeting of the Mangorei branch of the Farmers’ Union on Saturday night. A formal motion of support was agreed to. Mr. J. Kemp said that mortgages generally were based on values of land when butterfat was Is 6d per pound. If this basis could be altered it would relieve farmers to a tremendous extent. He realised that there was another aspect to be considered, that of farmers who had retired and left their money in the land.

Mr. D. Le Cren Morgan considered that Clause 111 of the order of reference was wide enough to cover the question. He pointed out that the Royal Commission had to furnish a report to Parliament by June 16 and if it went very thoroughly into the mortgage aspect it would probably require so much evidence that the report would be considerably delayed. However, the order of reference had a very wide scope.