SUM IN ARREARS.

Star (Christchurch), Volume LXVI, Issue 20632, 5 June 1935, Page 9

SUM IN ARREARS.

Operations of Mortgage Relief Act. OFFICIAL ESTIMATE. Per Press Association. AUCKLAND, This Day. In reviewing the operation of the Mortgagors and Tenants Relief Act today, the Minister of Justice (the Hon J. G. Cobbe) said that up to February 28 last 13,915 applications had been dealt with by the courts. Of that number 12,145 had been referred to adjustment com-

missions for investigations. Of the 12,145, . a total of 11,252 had been investigated by February. 28 and there were 506 now await ing investigation. The total sum secured by mortgages in respect of which relief was sought was approxi mately £27,250,000. The total amount

of interest in arrears at the date of applications was £2,086,214, of which sum £40,827 was remitted by the courts. This was apart from the large amount remitted voluntarily. It was estimated that for every one case dealt with by the courts two had been settled voluntarily. Dealing with leases, the Minister said that 1997 relief applications, involving an annual rental value of £603,738 had been considered by the courts. Relief was granted in 954 cases and declined in 246. The total amount of arrears remitted was £78,509.