CHATTELS TRANSFER ACT.

Stratford Evening Post, Volume XXXIII, Issue 3, 30 April 1912, Page 3

CHATTELS TRANSFER ACT.

REGISTRATION OF MORTGAGES FOR THE PAST YEAR.

ILLUMIXATING FKICEES

In 1896 the General Assembly of New Zealand in Parliament assembled passed “an Act Intituled” “Tim Chattels Transfer Act,” under which it is incumbent on those who borrow money to leave a record of their trans-

action in tli office of Hie Supreme Court in their districts; and those records are published Weekly in the “Mercantile Gazette,” so that he who runs may read all about it, and one with a mania for figures and unlimited leisure may prepare a return showing (a.) the total number of “instruments’ ’ registered, (b) the total amount involved, and (c) the rate oi interest paid.

Hut many people have not unlimited leisure; and on August Bth, J9JI. Major the Hon. Sir W, Jukes Steward, M.P. for Waitaki, took action for the benefit of such, moving and having passed by the House of Representatives the following resolution; “That there bo la’d before this House a return for the year ended 31st March 1911, of mortgages registered and discharged, in the same form as the return ordered last session.” This return (entitled H—2) has now been circulated. It is signed by P. C. Corliss, Commissioner of Stamps, its preparation is alleged to have cost £6O 10s, and the printing 1400 copies ir costed by the Government Printer. John Mackay, at £3 os. H—2 is worth the money, and is on sale at threepence per copy. A total of 2G, 121 instruments were registered, the sum involved being £20,998,022, roughly a lean of £2O foi every man, woman, and child, and one mortgage "to every forty citizens. This total is made up as follows; Number. Amount Auckland 0257 3,866,078 Poverty Hay ... G 27 823,597 Hawke’s Bay ... 1609 1,990,781 Taranaki ... ... 1975 1,512,161 Wellington ... 6025 5,558,932 Marlborough ... 435 341,935 Nelson 818 300,077 Canterbury ... 4)00 4,081,717 Otago ' 2583 1,352,761 Southland ... 1492 1,000,900 Westland 200 73.030 The average amount covered by an instrument was roughly as follows: £ Auckland ... ... 600 Poverty Bay ... ... 1750 Hawke’s Hay ... ... 1250 Taranaki ... ... 850 Wellington 900 Marlborough ... ... 850 Nelson ... ... 450 Canterbury 1000 Otago ... ... 050 Southland ... ... 800 Westland ... ... 375 lu Southland there was £13,251 out without interest, in Wellington £3097. in Auckland £1690, in Canterbury £1332, in Hawke’s Bay £SOO, and in tiie Edinburgh of the South there was £7O. The name of the cannie Scot responsible for this sum should bo immortalised in next return. Or did a number of men contribute it? But Otago has a column all to itself to record a sum of £6OO for which, .05 per cent, is paid. It voidT be interesting to know details of this one-twentieth per cent.—why that fig ure was given or controlled. At the handy and easily calculated rate of 1 per cent, only £4250 was out, £4OOO in Southland and the remainder in Wellington, which district is the only one represented in the 21 column (£000) and the 24 column (£315). The .hi !2l at 3 per cent, was distributed as follows: —Wellington £1998, Southland £963, Auckland £037, Otago £4BB, Canterbury £335. In Auckland somebody pays the awful to behold interest of three point nought three repeating—3 1-30 per cent. Next years report should include full details regard ng thir; amount. Auckland contributes £2OO at three point three repeating, and la van aid £llOO. At 3.5 Canterbury* had £12,700 Southland £1835, Auckland £990, and Otago £670; total £15,995. Four per cent, was a popular figure, a per cent. £ , Auckland 22,635 Poverty Bay ... ... 990 Hawke’s Bay ... 2,925 Taranaki ... ... 3.015 Wellington ... ... 15,211 Marlborough ... 12,660 Nelson ... ... 795 Canterbury 7 ... ... 10,4.00 Otago ... ... 9,375 Southland ... ... 14,425 -'Westland ... ... 500 Total 92,931 Then follows the sum of £1350 in Auckland at the grotesque rate of four point nought, one eight five repeating. Tlio person who made the instrument made things too easy foi\ the poor calculator. The principal should nave been made £1973 and the term ’seven point 112357, all repeating. Then the clerk who had to find the total interest would fill up the skeleton of T equals” II x P x T «!00 with the following array of pleasant figures:— 4.0185 x 1973 x 7.142857 • 100 He would, of course, not forget the recurring marks, which the linotype knows not. And then he would spend half a day 7 in company 7 with all the rough-cornered, wire-hain d grenadiers in vhe arithmetical alphabet. Four point two five: Marlborough £3982, Otago £110; four point three repeating, Auckland £IOO. Per Gent. £ 1 Auckland ... ... 122,520 Poverty Bay ... 11.400 Hawke’s Hay ... 178,025 Taranaki " ... 8,1,694 Wellington ... 597 380 Marlborough ... 29,500 Nelson ... ... 10,700 Canterbury ... 338,422 Otago ... ... 49,355 Southland ... ... 55,250 Westland ... ... Total ...£1,513,252 At four point six repeating, £ISOO vras out in Otago. Per sent. £ Auckland ... ... 97,108 Poverty Hay ... 27,600 Hawke’s Hay ... 73,946 Taranaki .... ... 28,857 Wellington ... 145,221 Marlborough ... 4.000 Nelson ... ... 10,750 Canterbury ... 69,309 Otago* ’ 18,425 .Southland ... ... 39,100 Westland Total 514,376 5 Per Gent. £ Auckland 1.395,553 , Poverty Bay ... 196,938 Hawke’s Hay ... 904,125

Taranaki ~, 189,321 Wellington ... ] ~626,(588 Marlborough ... 70,072 Nelson ... 121,839 Canterbury ... 1,950,301 Otago ... ... 610,952 Southland ... 500,394 Westland 0,118 Total ... ... £7,902,307 There ; n only one entry in the 5.1 co 1 u hi ti—Wei 1 i 11 gt on £9300. 5g Per Gent. J £ Auckland ... ... 23,350 Poverty Bay ... 8,000 Hawke’s Bay ... 27,127 Taranaki ... ... 2,050 Canterbury ... 51,237 Wellington ... 63,785 Otago ... ... 21)700 Southland ~, ... 15,325 Total ... ...£212,574 Five and a third; Auckland £BBO6, Hawke’s Bay £3BOO. 5.1 Per Cent, £ Auckland ... 706,929 Poverty Hay ~, 121,108 Hawke’s Bay ... 280,209 Taranaki ... 137,675 Wellington 636,333 Marlborough ... 52 520 Nelson 62,695 Canterbury ... 452,053 Otago ... ... 123,830 Southland ... 96,57-6 Total £2,669,928 6 Per Cent. £ Auckland ... 518,883 Poverty Bay ...' 137,590 Hawke’s Bay ... 193,063 Taranaki ... 196,820 Wellington ... 617,764 Marlborough ... 80,306 Nelson ... ... 48,116 Canterbury ... 417,365 Otago ... ... 127,721 Southland ... 67,980 Westland ... 5,884 Total .... ...£2,411,492 * In the Wellington district one sun of £77,283 was out at the weird rate of 6.15 and in Auckland £275 was oul at six point five four repeating, v Per Cent. £ Auckland ... ... 65,195 Poverty Bay ... 22,921 Hawke’s Bay ... 31,553 Taranaki ... 78,553 Wellington ... 227,931 Marlborough ... 17.374 Nelson ... ... 37,223 Canterbury ' ... 95,'488 Otago ... ... 49,787 Southland ... 13,389 Westland ... 30,467 Total ... ...669,881 8 Per Cent. £ Auckland ... 62,655 Poverty Bay ... 6,115 Hawke’s Bay ... 21,824 Taranaki ... ... 52,574 Wellington .:. 118,608 Marlborough J. 10,085 Nelson ... 1 .. 10,579 Canterbury ... 132,810 Otago ... ... 14,357 Southland 14,935 Westland ... 4,972 Total £449,844 1 '■ 11 10 For Cent. - £ Auckland ... ... 22,173 Poverty Bay ... 725 Hawke’s Bay ... 3,909 Taranaki ... 21,427 Wellington ... 33,186 Marlborough ... 1,440 Nelson , ... 2,903 Canterbury ’ ... 11,938 Otago' ... ’“if'.' 4,743 \Southlaiid -.;jJ 1,947 Westland j' 1 55 To ia] ... '.V; £107,616 Otago supplies the only sum (£600,/ at 25 per cent. ' Unspecified. £ Auckland ... 732,331 Poverty Bay ... 241,979 Hawke's Bay ... 288,383 Taranaki ... 366,898 Wellington ... 1,260,146 Marlborough ... 54,513 Nelson 41,896 Canterbury ... 166,829 Otago ... ... 249,284 Southland ... 159,727 Westland ... 24,309 Total £3,836,595 Summary. £ Free ... ... ... 20,543 .05 600 1 4,250 2.5 600 2.75 315 3 1,421 3.03 5,587 3.3 1,600 3.5 15,995 4: 92,931 4.0185 1,350 4.25 4,402 4.3 100 4.5 1,513,252 4.6 1,500 4.75 514,376 5 7,902,307 5.1 9,300 5.25 212,574 5.3 12,606 5.5 2,669,928 5.75 51,217 6 2,411,492 6.15 77,283 6.25 16,095 6.5 ' 272,810 6.5! 275 6.75 3,88 D 7 669,881 7.2 1,000 7.25 1,800 7.5 ... ... ... 58,487 7.75 7,050 8 4 19,814 8.25 300 8.3 120 8.5 3,600 i) 31.133 9.5 250 10 107,616 12 973 12.5 2,218 13 460 15 1,251 20 750 25 600 Unspecified ... 3,836,595 315.8385 20,998,622 Very roughly, the average interest here disclosed is 6.75. The amounts raised were as follows: Number. Amount. £ £SOO and under ... 18,764 1,893,621 £SOO to £IOOO ... 3,711 2,874,485 £IOOO to £SOOO ... 3,380 7,611,579 £SOOO and over ... 563 5,618,937 Total ... 26,421 £20,998,622 In all d’stricts 19,719 mortgages, covering £13,829,157, were released. Following is a comparison of the amounts registered and released in each district:— Regi ste red. R el eased. £ £ Auckland ... 3,866,078 2,117,743 Poverty Bay ... 823,597 040,913

Hawko’s Bay 1,990,784 1,117,088 T.iiraiiiiki .... 1,512,161 1,045,855 Wellington ... 5,558,932 3,757,211 Marlborough 341,985 473858 Nolsou 300,077 22.1,114 Canterbury 4,078,717 2,807,094 Otago ... 1,352,761 988,916 Southland ... 1,000,900 587,203 Westland ... 73,630 42,462 £20,998,622 £13,829,157