FARM MORTGAGES
OPINION OF FARMERS’ UNION.
FOUR ALTERATIONS SUGGESTED.
By Telegraph—Press Association. Dunedin, Feb. 26.
The Farmers’ Union has adopted the report of its sub-committee on the Mortgage Corporation proposals, stating:— . (1) The scheme would be useless if it meant that the farmer would pay more than 4J per cent, including amortisation. (2) That it was preferable to launch the corporation without share capital, and giving bondholders representation on the directorate. . (3) That there should be a fixed period for the redemption of bonds which should be issued so as not to mature all together. . (4) That loans be not transferable in the event of property being sold. Regarding the rehabilitation proposals, the principle of decentralised handling was endorsed. It was considered inequitable that all farmers should be given 20 per cent, equity in the final adjustment, it being recommended that each case be considered on its merits.
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Bibliographic details
Taranaki Daily News, 27 February 1935, Page 6
Word Count
148FARM MORTGAGES Taranaki Daily News, 27 February 1935, Page 6
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