GENERAL MORTGAGE CORPORATION LTD

Hokitika Guardian, 12 May 1930, Page 4

GENERAL MORTGAGE CORPORATION LTD

From time to time the monetary market of New Zealand has been inundated with various schemes, and forms of Mortgage Finance both by the State and private enterprise, which has been due to the continuous demand created by the public for such finan-. ciat assistance

In view of this insistent demand,'a Company was successfully floated last year which' offers to the public an entirely new departure in long term mortgage finance, the general principles * and system of which is unique in the history of finance in the Dominion. ,

• 'the scheme itself has been thoroughly investigated, tested and proven with tue result^'that the Company has in hand after being, in operation for approximately six months,, for loans approaching three quarters of a million, this being due* wo the attractive position offered to the and at the same time providing for an adequate return and margin of security' for the successful operation of the Company.

( Owing to this remarkable demand, for the Coy’s system of ■finance,' the Directors’ of the .Company considered it advisable to increase the, capital u> order to take advantage ot the opportunities offering, which place* the share capital now required,- on practically a gilt edged, basis. In order to assist, t|ii\ Comp&ny in ascertaining and'"discriminating as te tne nature and margin of the.security offering against loans, a most cotnprehensive organisation has been established throughout the Dominion in 16 centres by the - citation, of Local Advisory Boards comprising men of standing well acquainted with the conditions/of properties, located in their resnective districts. > '

It will he readily appreciated that wnn such an organisation, the Company with the knowledge which is available to the-Head Office manage*; ment as supplied, by the Local Boards •has, fuly, safe-guarded,,the,,interests of the Shareholders,. V, . .*... The, Company, has recently issued a prospectus , regarding. the increase, cf capital referred to, and to . those contemplating an investment which in the main is a first, charge oyer, first mortgages, this Company offers almost attractive -proposition, and, investors. > are advised to mak£ application, fop a,yppy of the, pr.ospectus.[iijO., the ( Jocal ( Secretory, General. l\lar,tgage Corporation Ltd., opp G.P.o..., (Greymouth. , -,