HOLDERS OF MORTGAGES

Taranaki Daily News, Volume LV, Issue 95, 7 September 1912, Page 5

HOLDERS OF MORTGAGES

REQUESTS KOK A RETURN. "MOST IMPROPER INTERFERENCE." By Telegraph—Own Correspondent. Wellington, Thursday. ■Some discussion took place in the House of Representatives yesterday 011 a motion by Mr G. W. Russell (Avon) for a return '"showing the names of all persons, partnerships and corporations holding mortgages on land in New Zealand of £20,000 and over; such return to show the respective holders of mortgages of £20,000, £30,000, £40.000 £50,000, £.75,000, £IOO,OOO, £150,000, and £200,000 and over; ail sums of over £200,000 to be .separately stated." The Prime Minister objected to such a Teturn. He thought it a most improper interference with the business of private individuals. lie did not think the publication of such a return would induce people having capital to lend motley. Mr 11. J. H. Okey (Taranaki) did not see any reason why the names of these moneylenders should be published in the newspapers. They wanted to encourage the private lender, and if they were to have their names put in the newspapers it would militate against the competition that they had at the present time. The Hon. W. 11. Berries thought this was a serious motion. Did the hon. gentleman want the names of Home lenders included? If that wore done, it might divert the stream of investment. Mr G. W. Russell (Avon) said he would accept a suggestion to have the numbers without the names. There was a precedent in the return giving names of large landowners, and it was just as important to have the names of large mortgagees as owners of land. The motion was then amended so as to request the number of persons, etc., instead of their names; the last clause was deleted, and in this form was carried.