MORTGAGE ADJUSTMENT

Taranaki Central Press, Volume IV, Issue 401, 7 April 1937, Page 4

MORTGAGE ADJUSTMENT

O N.Z. Farmers’ Council Prepared to Assist. j I At a meeting of the New Zealand Farmers’ Council, held at Stratford on Friday last, it was resolved to render every assistance possible to applicants for adjustment under the Mortgagors and Lessees’ Rehabilitation Act. It was stated that in the preparation of farmers’ budgets for presentation to the commission, certain valuers were assessing an amount of £3 per week for farm management. The council considers that this allowance is much too low, and that the minimum provision should not be lower than the basic wage, with increases where necessary to provide farmers with an income sufficient to give them and their families a decent standard of living. A special committee has been appointed to place the views of the council before the commission during the present week. The following resolution in regard to mortgages was also adopted: j “That this meeting of the New Zealand Farmers’ Council is of the opinion that ths present system of land tenure should be so amended as to provide for all mortgages (present or future) to be for a long term, and provision to be made for a sinking fund and allowance for capital exI penditure.”