BOOMERANG LEGISLATION
INTEREST ON MORTGAGES. COMPANIES HARD HIT. . . m CLIENTS WILL FEEL EFFECTS. United Press Assn. —Elec. Tel. Copyright. (Received Nov. 18, 1.30 p.m.) LONDON, Nov. 17. ' Mr E. M. Parker, chairman of Dalgety and Company, Limited, speaking at a meeting of shareholders oi the company, said the Australian legislation reducing interest on mortgages had hit the pastoral companies hard, and in the long run it was bound to hit their clients—'the very class it was designed to protect. The speaker hoped before long to see some relief of the Australian exchange burden, which for the past two years had cost the company £242,906. Over £2,500,000 invested in New Zealand recently was far from profitable. There were too many people seeking the same business, resulting in cut throat competition. A further bad feature was the inflated land values. It was essential that these should come down, which he feared would be a painful process for many farmers and pastoralists.
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Bibliographic details
Waikato Times, Volume 112, Issue 18796, 18 November 1932, Page 7
Word Count
159BOOMERANG LEGISLATION Waikato Times, Volume 112, Issue 18796, 18 November 1932, Page 7
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