NATIONAL MORTGAGE

Waikato Times, Volume 117, Issue 18589, 30 May 1935, Page 7

NATIONAL MORTGAGE

CORPORATION DIRECTORS. THREE APPOINTMENTS MADE. SIR W. D. HUNT CHAIRMAN. (By Telegraph.—Press Association.) WELLINGTON, Wednesday. The actlng-Prlme Minister, the Hon. E. A. Ransom, announced this evening the appointment by the Governor-General-in-Gouncil, pursuant to section 12 of the Mortgage Corporation of New Zealand Act, of three of the four State directors of the corporation. The appointments are as follows: Sir W. D. Hunt, of Wellington, to be chairman of directors. Mr A. D. Park, Secretary to the Treasury, to be a joint managing director. Mr T. N. Smallwood, manager of the Auckland Savings Bank, to be a joint managing director. The appointments are to date from July 1, 1935.

Sir W. D. Hunt is managing director of Wright, Stephenson and Company, Limited, and of Abraham and Williams, Limited, stock and station agents, and is a member of the Meat Control Board. Mr Park has been Secretary to the Treasury since 1930. He is a director of the Reserve Bank and holds 20 other offices under the State. Mr Smallwood was accountant of the Auckland Savings Bank wheu he succeeded Mr Clem Bartley as manager in 1931.

The management of the corporation is to be vested in a board of eight directors, four State, three from the shareholders and one an officer of the Treasury approved for the purpose by tile Minister of Finance and who is to hold the position ex officio. One oi the State directors is to be chairman of the 'board and two are to be joint managing directors, holding appointment for seven years.

MORTGAGORS’ RELIEF.

TWO COMMISSIONERS RESIGN. EXPLANATION OF ACTION. (By Telegrapn.—Press Association.) WELLINGTON, Wednesday. A position regarded by the legal profession as most unsatisfactory ha 3 arisen following the resignation on May 1 of two members of the Wellington District Mortgagors’ Relief Commission. Complaints were made by a number of legal practitioners to the Wellington District Law Society, and the society wrote to the under-sec-retary of the Department of Justice pointing out that the hearing of applications had fallen many months into arrear and that injustice was being done to applicants. The under-secre-tary replied and promised immediate consideration of the matter. It is now revealed that the reasoD for, the resignation of Mr Hugh McIntyre, chairman, and Mr Albert McDonald is that these members were dissatisfied with the appointment of the new secretary of the commission by the Government without consulting the commission. It is also learned that the commission resigned in October, 1933, but was persuaded by the Government to continue.