POLITICAL NOTES

Press, Volume LXXI, Issue 21412, 2 March 1935, Page 12

POLITICAL NOTES

[From Our Parliamentary Reporter.'] WELLINGTON, March 1. Mortgage Corporation Thirty-two clauses of the Mortgage Corporation of New Zealand Bill had been passed when the House of Representatives adjourned this evening for the week-end. These clauses can be said to constitute the most contentious parts of the bill—that part providing specifically for the establishment of the corporation, that concerned with the constitution of the management, and that setting out the scope of the corporation's business—so that there is a likelihood of another day in committee bringing about the completion of the discussions. More than 30 amendments have been moved during the last three days' debate; but the Government has retained a good majority, and the Minister for Finance (the Rt. Hon. J. G. Coates) has consented to few modifications apart from those inserted by himself. Last night the division bells were ringing almost continuously; but progress to-day was much more rapid, most critics of the bill allowing their amendments to be dealt with on the voices.

There is still one clause which might excite serious opposition—that defining the Mortgage Corporation's liability for taxes and rates. Meat Discussions The Prime Minister stated to-night that no further advice had been received from the British Government in furtherance of the meat negotiations. Britain had not yet published the contents of the White Paper which was sent to the Dominions last week, and New Zealand's reply might have been partly responsible for this delay. Mr Forbes considered that any discussion in the House of Representatives would be useful if members refrained from saying anything which might compromise or embarrass the Dominion delegation. He deprecated the use of arguments or expressions which, if cabled to England, might seem offensive to the British Government. Meat Export Situation The House of Representatives will have an opportunity to discuss the meat export situation before the Prime Minister (the Rt. Hon. G. W. Forbes) leaves for London early in April, according to a statement made by Mr Forbes in the House to-day in reply to an urgent question by Mr W. J. Poison (C, Stratford). Mr Poison emphasised the desirability of such a discussion, m view of the Prime Ministers forthcoming visit to England, and in view of the attitude of the British Government toward quotas and levies en meat imports.

Trade Statistics The likelihood of New Zealand trade statistics being prepared in New Zealand currency figures was mentioned by the Minister for Finance (the Rt. Hon. J. G. Coates) in the House of Representatives to-day, in his reply to an urgent question by Mr Walter Nash (Lab., Hutt). Mr Nash asked the Minister whether he could not arrange for the import and export figures compiled in his office to be prepared in Dominion currency. Mr Coates agreed that if it could be arranged without undue additional expense, the trade statistics should show the value of imports and exports in the local currency. He said that if certain modifications were made in the method, it would be possible to provide for this change. He proposed to take the matter up with the Minister in charge of the Statistician's Department, with a view to the publication of the figures in New Zealand currency. Companies Act "It is not proposed to amend the Companies Act this session," said the Minister for Finance (the Rt. Hon. J. G. Coates), replying in the House of Representatives to-day to an urgent question by Mr A. S. Richards (Lab., Roskill). Mr Richards had advocated the deletion of section 140 of the act passed in 1933. He said the section definitely prevented many from following their profession as accountants, and gave a monopoly to others in a manner never intended nor desired by the legislature. The section which Mr Richards referred to places restrictions on the appointments of auditors. Personal Covenant An unsuccessful attempt to eliminate the personal covenant aspect from mortgages was again made by Mr W. A. Veitch (Ind., Wanganui) in the House of Representatives today, when the Mortgage Corporation Bill was being discussed. Explaining an amendment, Mr Veitch said that if it were carried the House would have affirmed the principle that a mortgage should be taken only on land given as security for a # loan, and that security would not extend by way of personal covenant to cover the other assets of the mortgagor. "Even in normal times, great evils have been caused by the personal covenant in contracts," said Mr Veitch. "It is a provision in contracts, of which neither party is usually conscious at the time the contract is made, and I endeavoured previously to secure the passage of a bill dealing with that situation. In these days many good citizens have been ruined by the personal covenant provision." The amendment was rejected on the voices.

Mayor Sleeps Aboard Ship To-night is the fourth night in succession that Mr D. G. Sullivan, Mayor of Christchurch and member of Parliament for Avon, has slept on board the steamer express Rangatira. On Monday evening he attended a City Council meeting in Christchurch. On Tuesday night he travelled to Wellington to attend Parliament on Wednesday. On Wednesday night he returned to Christchurch to take part in the farewell to Lord Bledisloe. On Thursday night he returned to his seat in the House, and to-night he left for the south for the week-end. The Postmaster-General The Postmaster-General (the Hon. A. Hamilton) will arrive at Wellington on Monday, after his visit to Australia to take part in the air mail conference with the Australian Ministers. It is still doubtful whether he will feel fit to resume the portfolio of Employment which he relinquished for health reasons last year, and it is expected that in the meantime, at any rate, Sir Alexander Young will continue to ad-