MORTGAGEES’ INTEREST.
PROTEST AGAINST REDUCTIONS. A strong protest against further reductions in mortgagees’ interest or the contraction of their mortgage rights was made at the inaugural meeting of the Canterbury branch of the New Zealand Mortgagees Protection Association. It was resolved to convey the protest to the Prime Minister. The meeting also urged that mortgagees should bo represented on the mortgagors’ adjustment, commissions. A resolution was passed as fol-lows:-—-"it- is common ground that (he drastic, legislation of the last few months is having a serious effect on the financial recovery of the country. Investors not only are tlnding that (heir rights in respect of existing contracts have been ruthlessly rut, hut they are afraid to enter into now ones for fear that similar or even more drastic legislation may be passed in the future. The result is that the flow of money for securities has delluileiy stopped."
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Waikato Times, Volume 113, Issue 18855, 27 January 1933, Page 12
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147MORTGAGEES’ INTEREST. Waikato Times, Volume 113, Issue 18855, 27 January 1933, Page 12
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