FARM SECURITIES AND MORTGAGORS.

Star (Christchurch), Volume XLIV, Issue 145, 20 June 1931, Page 13

FARM SECURITIES AND MORTGAGORS.

COMMITTEE SET UP TO EXAMINE THE POSITION. (Special to the “ Star.”) ASHBURTON, June 19. A lengthy discussion took place at the meeting of the Provincial Executive of the Mid-Canterbury Farmers’ Union, to-day, with reference to the treatment of some farmers by the mercantile firms who held security over land and stock. Mr James Carr, who introduced the subject said that it was a delicate matter and they should not interfere unless they had strong grounds for doing so. lie thought there was room for a committee to be set up to act as a bulwark for those farmers who had been pushed to the wall. There were cases where if there was a committee of men of integrity and backbone there might be a good deal of easing the bad feeling that was being generated to-day. Many people had made statements to him on the matter. He read a letter from a farmer who stated that the ice had been broken on one of the greatest problems that had ever come before the Farmers’ Union. He had heard of a case that day of a firm which seized every stick on the farm and the labourers were not even paid. Farmers had been asked to sign over their life pollicies to the detriment of dependents later on. Farmers should be warned against handing over their life insurance policies. They would be better going out on the road. Mr Carr produced a sales note received from a farmer. The man went to buy ewes to fatten. On the purchase price it meant that if he kept them four months he would be paying at the rate of £l4 15s 2d per cent in addition to the commission for selling. There would have to be a very big rise in the price of ewes before the money cotild be found.

Mr R. W. Wightman said that a committee as suggested could go carefully into the circumstances of farmers who were up against it. Stock firms should cease forced sales as they were depreciating the value of the security. In some cases the mortgagees were putting the occupiers out and reaping the benefit of years of the farmers work. Mr A. P. Bruce stated that a committee had been set up at a meeting of the A. and P. Association to act with a committee that may be set up by the executive.

He suggested that the President (Mr H. C. B. Withell), vice-president (Mr W. R. Hammond), Messrs J. Carr and J. Brown, be elected as a committee.

Mr Hammond said there were a number of people on the lookout for cheap land and ready to slip in. The future was certainly not very bright. Mr Evans said he agreed with the setting up of a committee but the question was how far they could go.

After further discussion the committee suggested by Mr Bruce was appointed to meet and confer with the representatives of the A. and P. Association.