Americans Negotiating For Taupo Farmlands

Press, Volume CVI, Issue 31082, 10 June 1966, Page 1

Americans Negotiating For Taupo Farmlands

(From Our Own Reporter) WELLINGTON, June 9. What has been described as a take-over bid by American interests for a large area of New Zealand farmland is not likely to be disputed by the Government.

The scheme is for the development of up to 60,000 acres of difficult country in the area between Napier and Taupo with the aim of bringing it into high production.

The interests are negotiating for the purchase of several large blocks of land, totalling between 25,000 and 60,000 acres, much of which is not in full production. The Napier-Taupo road runs through the area which is fairly high country.

The intentions of the overseas combine are to raise cattle for beef export.

One source suggests the introduction of Santa Gertrudls or another type of speciallybred cattle, able to stand the rigorous winters and to produce high-grade meat, which could be air-freighted to America.

Negotiations which began with the Minister of Lands (Mr Gerard) have now passed to the Minister of Finance (Mr Lake). They concern the

admission of large capital sums required to develop the area and the possible transmission overseas of profits from the enterprise. Though the Rotorua branch of the Federated Fanners is protesting about the sale of the land to the Americans, it is understood that neither the national headquarters of Federated Farmers nor the Government agrees with this view.

The Cabinet has not yet made a decision, but Mr Lake

has said there is nothing to prevent Americans buying land in New Zealand. It is considered unlikely that a special move will be made to prevent American interests from sending their profits back to America, if this issue develops later. Farmers have opposed the purchase ever since they learned of it They are against the principle of overseas investment in New Zealand farming. “This is another type of take-over,” said Mr R. H. Martin, of Ngongotaha, president of Rotorua-Taupo Federated Farmers, this week. “My executive definitely opposes such a move. “We are concerned about

the possibility of Increased absentee overseas ownership of New Zealand farmland. It is the principle we are opposed to. Once this sort of thing starts, how are you going to stop It?” Mr Martin said he knew definitely that negotiations were being made for the Poroanui stations of 18,000 acres owned by the Tohoe Maori Trust. He knew of other properties, but could not name them as his knowledge was not definite.

Poranui station was bought for development by the trust board out of compensation money. Great difficulty has been met in developing it. Part of the area is at present under development by the Lands and Survey Department. The Government view is understood to be that if the sellers are offered an acceptable price, no objections to the sale should be made. It is believed the American firm has large sums of money to invest, and a knowledge of modern development technique for this particular type of land. The Minister of Maori Affairs (Mr Hanan) said tonight: “If the Maoris want to sell their land, and can get a good price for it. I would certainly have no objection.”