Farm Mortgages

Manawatu Times, Volume 62, Issue 30, 5 February 1937, Page 5

Farm Mortgages

BASIS OF ADJUSTMENT FIGURES FOR TARANAKI NEW PLYMOUTH, Feb. 3. Prices to serve as a basis for mortgage adjustment in connection with farm properties under the Mortgagors and Lessees’ Rehabilitation Act have been issued by the Justice Department. The figures for Taranai arc calculated on returns for the past ten years and in most instances approximate present market values, except in the case of sheep and wool where they are considerably below ruling rates. The figures set for butter-fat are about the same as tho guaranteed price for produce. Values put on dairy cattle are slightly above to-day’s market prices, the greatest difference being in dairy cows, which are set down at £3 LOs 6d, compared with £7, probably a fair average of recent realisations. On the other hand weaners are shown at £2 19s 6d against the present price of about £3 in Taranaki. There is a wide disparity between the wool price averages and lato rates the latter being almost double in some cases, this year’s returns being exceptional. Almost as much variation is shown for sheep. Tho department’s average for two-tooth ewes is 22s 2d, while the same class is worth £2 to-day. Five-year-old ewes saleable to-day at 28s are shown at 16s 6d. Prices for store sheep and lambs do not show as great a margin. The Court’s basis for woolly lambs is 12s for ewes and 10s 9ds for wethers, compared with market prices ranging from 16s to 20s.