C.-9

REPORT OF THE DOMINION REVALUATION BOARD.

THE DISCHARGED SOLDIERS SETTLEMENT AMENDMENT ACTS, 1923 AND 1924. Revaluation of Soldier Settlers' Farms and Investigation op Current Account Advances. Further consideration was given during the year to cases which had previously been dealt with by the Board, but in respect of which it was found that additional assistance was required to enable the soldier settlers concerned to continue in successful occupation of their holdings. Many settlers have applied for revaluations, the main reasons advanced being concerned with the low prices that are ruling for primary products. In the opinion of the Board, however, the conditions now obtaining do not warrant any general revaluation, and it is considered that in cases where some relief is necessary the position can as a rule be met by way of postponement or remission of rental or interest charges. The operations of the Board 011 the various accounts as at the 31st March, 1931, are summarized below:— Summary of Operations as at 31st March, 1931. Applications for Revaluation. Number of applications for revaluation received .. .. .. .. .. 5,347 Number of cases dealt with and determinations issued by the Dominion Revaluation Board 5,284 Number of cases not dealt with due to forfeiture or abandonment .. .. .. 63 Total capital invested (comprising capital values of Crown leaseholds and advances under £ section 2, Discharged Soldiers Settlement Amendment Act, 1917) .. .. 17,244,236 Capital dealt with by Dominion Revaluation Board .. .. .. .. 12,528,835 Reduction in capital by Dominion Revaluation Board .. .. .. .. 2,829,718 Reduction in Land and Crown Mortgage Values. £ s. d. Reduction in capital value of leaseholds .. .. .. .. .. 1,983,046 9 6 Reduction in Crown's mortgage (under section 2) .. .. .. .. 846,671 13 2 Total .. .. .. .. .. .. £2,829,718 2 8 % Private Mortgages and Debts. Mortgages and debts- of various descriptions owing by soldier settlers to persons other £ than the Crown .. .. .. .. .. .. .. .. 171,357 Reduction obtained in the above by efforts of Dominion Board .. .. .. 124,859 Percentage of reduction to original debt .. .. .. .. .. .. 72-8 per cent. Private Mortgages and. Debts purchased. £ Original value of mortgages and debts purchased by Crown .. .. .. .. 74,338 Price paid by Crown after negotiation .. .. .. .. .. .. 36,936 Discount obtained and which is credited to settlers.. .. .. .. .. 30,735 Percentage of discount .. .. .. .. .. .. .. .. 41-3 per cent. The difference represents the amount paid by the settlers themselves to successfully complete the negotiations. Remission of Instalment Interest and Rent. £ Granted by Dominion Revaluation Board in respect of arrears as at 30th June, 1923 .. 190,976 Granted by Land Boards on recommendation of Dominion Revaluation Board with respect to payments accruing subsequent to 30th June, 1923 .. .. .. .. 260,816 Total remissions .. .. .. .. .. .. £451,792 Mortgage instalments, rents, &c., automatically written off, due to reduction being retrospective to the Ist July, 1921, or date of title, &c. .. .. .. .. £437,830

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