QUAKE FUNDS

Hokitika Guardian, 30 May 1931, Page 5

QUAKE FUNDS

DISTRIBUTION PLAN SOME EXCLUSIONS. , (By Telegraph,—Per Press Association) WELLINGTON. May 29. The Hawkes Bay Rehabilitation Committee has concluded its opening meeting and has released its publica-

tion a statement governing the procedure and policy. On the grounds of economy, administration, etc., it is considered advisable that the headquarters should be at Wellington. It will he found necessary in special case s for the Committee to sit to consider applications in the earthquake area.

Regarding the general policy of dealing with applications, it states that some undertakings, such, as bank s and insurance companies, and their Hawkes Bay branches, as well as established New Zealand busineses, will be expected to help themselves. In other cases, where there is no doubt that assitanee is required, consideration will ho given to each case on its merits.

It is considered by the. committee that such activitec as churches, social services, and societies, and educational institutions have their first line of financial resources in the goodwill of those interested in their activities. The Committee may be able eventually to consider moderate assistance, but jit thinks that it can tlo so only by recommending assistance by way of subsidy on fundH raised. It says that most of such institutions can make their own appeals over a territory wider than Hawkes Bay. The policy of the committee will he, primarily, to recommend the utilisation of the funds for the rehabilitation premises of reasonable size, and with a view to securing buildings more stable, and at a lower overhead cost, than those available before the disaster. The committee its resources are insufficient for the adequate replacernnt of stocks.. The committee, suggests that applicants and secured and other creditors should meet for a friendly discussion' of th© problems arising from conflicting interests in the affected properties, and it j s willing to assist bv . way of mediation. It will, he prepared, -where such negotiations have resulted-in an approved arrangement, to consider recommending a moderate grant of loan. The Committee’s present feeling is that it should be recognised as a general rule by the creditors that where the destruction of assets has rendered an applicant insolvent, they should write off the claims and give the applicant a clean start; which such assistance as the Chairman can recommend,,,,. , s «! )