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Hokitika Guardian, 13 November 1924, Page 2

Foi! some time past the practice has been growing up of inserting in mortgage deeds a proviso to the diVct that if the Public Trustee is appointed exeaitor or adminisfrator of the estate of tin* mortgagor or a subye<|i:e:it pur-

•hnsor, the moneys (icctired under tlie nortgage are to be repayable on doliaild. The effect of this covenant says Mr J. W. McDonald, l’tth'ic

Trustee), lias been to defer mortgagors from appointing tbe Pubic- Trustee as executor of their wills, and .'action has now been taken to protect the interests of mortgagors. Section 11 of the p'iname Act. 102-1, which has just been

passed by Parliament, provides as follows:—“(1) Any covenant or stipulation in a mortgage executed after the •ommeiieeiiient of this Act, whereby the mortgagor covenants that tbe monosecured by such mortgage shall beiome lll** and payable, or that any power f sale or entry into possession shall

become exercisable in the event oi tbe Public Trustee becoming administrator of the estate of the mortgagor, or in the event of the estate coming into the hands of the Public Trustee, or any other covenant, stipulation, or condi-

tion adversely affecting or tending to adversely effect the mortgagor in tbe event of the Public Trustee so becoming administrator of the estate of tbe

mortgagor, shall be null and void. (2) In this section tbe term ‘administrator’ includes executor, trustee, guardian, committee, agent, or attorney; and tbe terms ‘mortgage’ and ‘mortgagor’ mean a mortgage or mortgagor within the meaning-cf the Property Law Act. 1903. (3) Section eighty-six of the Public Trust Office Amendment Act. 1921-22 is hereby repealed."

Accohuinc to tho latest reports from impartial observers at Aladiul, wrote the -diplomatic correspondent of the ‘ Daily Telegraph” recently, it is not unlikely that the Military Directory under General l’rimo do Rivera will be compelled to resign at an early date. I'nlike the Government of Signor .Mussolini, it has failed to galvanise the general sentiment of the nation, and it controls but one faction of a disunited army. .Moreover, to such an extent has the Directory carried, or endeavoured to carry the prescription of its political opponents that the native chivalry of both monarch and penj !e has been aroused. .According to recent arrivals from Spain, strong rumours art current in the Spanish capital of the existence of dissensions, the rumours hint, may necessitate the intervention of the King and bring about the do fall oT the presenL Government. General l’riuio tie Rivera, it is declared, weary of the self-imposed task, and finding himself unable to carry out ni his undertakings would welcome V opportunity to retire. \\ idesprend dis satisfaction is said to exist at the methods of the Directorate. The cost of living is still going up, the prices el oil sugar and potatoes .having risen and the question is everywhere being asked when the long expected and much-needed rclories and the maiciiig of new appointments are going to begin. Dissatisfaction with the state o', affairs, although there is hesitation to express it in an open manner, would not appear to be limited to civilians and ex-politicians, and signs of disaffection are said to be apparent in the rank and file of the army.