MORTGAGES

Hokitika Guardian, 8 September 1931, Page 4

MORTGAGES

TOWN AND COUNTRY FIGURES. (By Telegraph—Per Press Association) WELLINGTON, September 7. At the end of August a return was presented to Parliament concerning the Land Transfer and Deeds Registration offices, and local newspapers quoted the amount shown in the report as being secured by mortgage on registered freehold Securities on March 31st., 1931. This totalled the huge sum of nearly £300,000,000, and the greater proportion of this amount was considered by many to be owing to farm mortgages. As this inference was not borne out by the figures published on page 729 and 730 of the 1931 Year Book, the Government Statistician was asked what in his opinion was the approximate value of registered mortgages over farming lands. His reply was as follows:

There is no reason for supposing that types 2 and 5 of our classification include any, great value of country lands, and in any oa.se these, would be approximately balanced by a proportion of town lands being included in types 1 and 4. Even if not so balanced, and if. an addition of £4,500,000 were made.an this account, the total for country lands at March 31st. 1929, would not exceed £125,000,000, and of course all country lands subject to mortgage are not farm lands.