MORTGAGEES PROTEST

Waikato Times, Volume 119, Issue 19893, 23 May 1936, Page 4

MORTGAGEES PROTEST

i “ ONLY JUSTICE WANTED” l I __ x l { PAST LEGISLATION CRITICISED. I (By Telegraph—Press Association.) 1 CHRISTCHURCH, Friday. 1 Some hard words were used by speakers at a meeting of the Mortgagees and Im'eslors' Association last night. to describe the ireatmen't. mortgagces had received through legislation passed by the National Government. There were about 75 present and, after several speakers had emphasised the need for action to protech morbsagees in future, the following resolution was passed unanimuuslyz—

“ That because of unjust and tryannical treatment. received from the late Government through the .\lortgagors' Relief and Adjustment Act. this meeting of the Mortgagees and Investors‘ Association is of opinion that representation should be made to the, Prime Minister and his Government, by deputation from the central executive in Wellington. setting out among other things: (1) A desire for representation on the Adjustment Committee. (2) A desire to have a voice in arranging the method of arriving at the true value.tion of properties. (3) A request that in any inquiry both parties should disclose their resources. (4) A desire to get a fair and square deal, generally speaking, for mortgagees who, under the late Government, were ignored."

’ Explaining why the meeting had been called, Mr ’1". Buxton, who pre- ? sided. said people were becoming afraid lot what the Government might do about taxing those with resources. “ The Government has said it is going to value mortgages on the basis of the guaranteed price," said Mr Buxton. “How it Is going to do that we are not at all sure. but what is going to happen if there is a discrepancy between this. ascertained value and the present value? We consider mortgagees should not have to lose that money. All we are asking is justice 101- both parties."