THE WOODWARD STREET TRANSACTION.

Dominion, Volume 1, Issue 264, 31 July 1908, Page 6

THE WOODWARD STREET TRANSACTION.

The disclosures made in the House of Representatives yesterday in connection with what has become known as the Woodward Street transaction appear to have aroused a keen desire on the part of members to see the whole matter thoroughly probed. The circumstances certainly are peculiar. It seems that a piece of waste land, comprising GJ- perches, adjoined a section fronting' Woodward Street and Wellington Terrace owned by the Hon. T. K. Macdonald,- M.L.C. This waste land was owned by the Crown and, though of small size and small value by itself, was of considerable value to any of the adjoining ownors. As the result of negotiations opened up, cither by the Mayor of Wellington, Hon. T. W. Hislop, or the Hon. T. K. Macdonald, or both, the Crown offered to sell to the City this Gi perches, the idea being that the City would in turn pass oil the land to Mr. Macdonald in return for land of equal value, part of his adjoining section, which would enable the City to carry out the proposed widening of Woodward Street. So far all is clear enough. There appear to have been irregularities.in the mode of procedure, but the facts are fairly clear. The chief trouble arises from the circumstance that there is a remarkable discrepancy between a plan showing the nature of the transaction and the-letter to the Minister for Lands on the subject. The plan shows that Mn. Macdonald was only called on to give .4 of a perch, but the letter stated that four or five perches would be given, and that this latter area was intended is emphasised by the further statement that the land given by Mn. Macdonald in return' for that received by him would bo its equivalent in value'. Tho actual outcome of tho transaction is. stated to bo that Mn. Macdonald received 6| perches, and gave in return 47-lOOths of a perch. In other words Mn. Macdonald is said to have made a profit on the transaction of over £1000. At whose expense 1 Tho public naturally aro not concerncd with Mn. _MACDCU£Jiii'ii priyute but in this

matter he has been dealing with the State and with the Municipality, and the public will want to know why and how he gained this advantage, and, indeed, the whole of. the 'ins and outs of what appears to bo a very curious transaction. The Government seems to have actcd in good faith in the matter, and the prompt manner in which Sir Joseph Ward rose to the occasion yesterday by providing for a full investigation deserves every commendation.