FINANCE OF FARMERS.

Taranaki Daily News, 24 February 1922, Page 5

FINANCE OF FARMERS.

ADJUSTMENT OF MORTGAGES. I ACTION BY LAW SOCIETY. By Telegraph.—Press Association. Auckland, Lact Night. The question of the adjustment of values where mortgagors find their obligations are pressing heavily was discussed by the Auckland Law Society. A motion proposed that a special meeting .should be held to consider the recommendations by a committee of members of Parliament suggesting that the Government should take steps to cope with the serious position in which mortgagors, especially farmers, have been placed by the fall in the values of farm produce, and that the society suggest means of coping with or alleviating the position. The mover said that if anybody could find a remedy it was the Law Society. He submitted that an attempt to find a remedy should be made, even if by legislation, and the combined moral suasion of the profession might do a great deal of good. Other members deprecated Government interference, and the mover accepted an amendment that the matter be referred to the council of the society to take any action it thought fit, whether in the direction first suggested or by urging the Government not to interfere. The amendment was carried. COMMISSION OF INQUIRY. THE VALUER-GENERAL. Wellington, Last Night.

The appointment of Mr. F. W. Flanagan (Valuer-General) has been confirmed as a Royal Commission to inquire into the financial difficulties of dairying ■farmers in different parts of New Zealand, more particularly in the Waikato and Taranaki districts. His duty -will be to mediate 'between mortgagees and mortgagors and -when opportunity offers to inquire into and report upon such other matters arising therefrom as may come under his notice, to report on the whole conditions and to recommend a course of action which, in his opinion after inquiry, it would be advisable to adopt. The Commission’s report is made returnable on April 26.