STATE’S INDEMNITY
TRANSFERENCE OF MORTGAGES. EARLY ISSUE ON THE MARKET. . . By Telegraph—Press Association. I Wellington, Aug. 15. With regard to a Palmerston North telegram of August 13 requesting details of the Mortgage Corporation’s. business, the chairman of the management board, Sir William Hunt, said it was 'clear ‘ fo’ him that the Manawatu Chamber of Commerce was under a misapprehension. The corporation was wholly indemnified by the Government against any loss which might accrue after State . mortgages had been taken over. This had already been made public and was contained in the prospectus the Hon. Adam Hamilton issued under the Act. The corporation was required to supply to the Government an annual audited statement of accounts, which would be published in the Gazette and laid before Parliament.
Sir William Hunt said that at an early date the corporation would be placing an issue of securities on the market. These would rank as trustee securities and would be available at par without having the involved question of a premium for purchasers to consider.
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Bibliographic details
Taranaki Daily News, 16 August 1935, Page 5
Word Count
171STATE’S INDEMNITY Taranaki Daily News, 16 August 1935, Page 5
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