MORTGAGE FINANCE

Press, Volume LXXI, Issue 21412, 2 March 1935, Page 7

MORTGAGE FINANCE

TO THE EDITOR OF THE I'IIESS. Sir,—ln common no doubt with many others I have been following with very close interest the debate in the House on the Mortgage Corporation Bill. It seems to me somewhat peculiar that no member of Parliament has raised the question of the losses sustained bv the State Advances Department. It is common knowledge that these losses run into millions, and it certainly appears to me to be the duty of members to insist upon knowing the amount involved. There is an uncomfortable feeling in the minds of many that one of the chief functions of the corporation, probably the chief one. will be to take over from the Government the responsibility of clearing up the undoubted tangle that exists in so far as the Stale lending institutions are concerned. It would appear to be fairer to prospective investors in the corporation and also to the public if the facts about the losses incurred by the State lending institutions were made known. I would be very glad to see at least one of our local members deal with

this important point in the coming week and raise Ihe point with sufficient persistence to ensure a satisfactory and full statement from the Government.—Yours, etc.. INVESTOR. February 28, 1035.