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Akaroa Mail and Banks Peninsula Advertiser, Volume I, Issue 89, 25 May 1877, Page 3

The Napier Telegraph gives currency to. the following singular' statement regarding the disposition made by a resident there of his landed estate :—The foundation has been laid for making the village of Waipukurau, within three generations, one of the wealthiest cities in the Australasian Colonies. We hear that the Hon. H. R. Russell, to whom Waipukurau belonns, has defined by survey the limits and boundaries of the township, and in his will, has bepueathed the whole of the property to the local governing body for the time being as trustees in perpetuity for the benefit of the town. Mr. Russell has sold none of the freehold, but he has a numerous tenantry holding ninety-six yesr's leases. On the expiration of those leases, Waipukurau will no doubt boats of a Mayor and City Council, which will then become the wealthiest Coporation in New Zealand. There will be no occasion for rates and taxes the rentals will give a revenue far in advance of the City requirements, and to absorb the surplus, probably the Council will vote the Mayor a salary of £10,000, and the Councillors an honorarium of £2000. There will be some piping times at every election, and •the statue that will certainly be erected to the honor and memory of the Hon. H. R. Russell, the founder and benefactor of the city, will perhaps look down on the scenes of waste, extravagance, and corruption, induced by excessive wealth and high stakes to play for, that will make the very marble weep. .'*.. ~