DAIRY FARMERS’ MORTGAGES.

Shannon News, 7 February 1922, Page 2

DAIRY FARMERS’ MORTGAGES.

GOVERMENT OFFICER TO INTERVENE. Wellington, February 4. j An informal committee of the members of the House was formed this week fb consider the requests of the Dairy Farmers’ Union for relief from the troubles that have been brought upon them by the decline in produce values. The committee waited on the Prime Minister to-day and put forward its suggestions. Mr Massey- readily agreed to a proposal that the Government appoint officers to act as mediators or adjusters with a view to arranging a re-adjust-ment of existing mortgages by normal consent of the parties concerned. It the parties agree mutually to a reduction of mortgages, the Commissioner of Stamps shall be empowered to remit at his discretion payment of the gift duty. Mr Massey would not undertake to pass legislation, but thought an agreement could be made to set up mediation. There were great difficulties in regard to suggestions dealing with the postponement of rent. He would go into the matter with the Valuer-General and do what he possibly could.