ARE LAND VALUES TOO HIGH?

Dominion, Volume 3, Issue 804, 29 April 1910, Page 8

ARE LAND VALUES TOO HIGH?

SURPRISING COMPARISONS. ' ;./' PRICES'INENGLAND AND ABROAD. '' : "■'.' i'-'IMAGmART UNEARNED" , -: : :> : ;'; s ;V ; ;•; ...,:■ A.cpir.esppndent'sends usthe fpllpwing. : remarkable'.letter: w-hieh,.-. -whether .one .'agrees; with the 'writer's conclusions or •, '■\nofc; puts''forward, some interesting, ques- , .' tions for' Consideration, and. can hardly- ..'.'"■'.■;.- fail to' -attract considerable attention .. throughout ■ the . country :f--' : ■. :■>.;.'/ ■■ , ,; : V ; :: (TqtheEditorO '-.-'.'.-: 'Sir,—ln looking through the advertising pages, of; the well-knewn British .agricul- ;■-.' tural paper,. "The v Farmer and" Stock- ; ■■ breeder," this week, I worked out the • ■/.-'.'■.'•■ price per, acre: pf . the different freehold '.: properties advertised for sale. S Prom ■>:• ■ these it appears ttiat farming land in ' England, <an hour' or two distant from .London;; is worth from 420 .to- JE3O en. .-:■'-..■•■'. 'acre, whereas New Zealand dairying land, ■ forty days'distant from. its.chief market,, "■;'." 'is running, in 'faranakii. at from 430t0 .' '.-,-; ah acre, and in some eases, more. , ' ■■■These' l 'remarkable differences'.in', value /■'"::'. have set mo thinking, and' I. have:so.far not been able to .find, anything like suffi- ■ ■■,-■' cient justification for the high prices how ..■■'■■' ruling' in' New -Zealand. The English-. ;:' man.has'a mbre severe climate to contend- -., with, but is, not this .largely, made up. for '; .;■ ■■"■■ bylus-closeness to' his markets? v 'l should', -' much' like, to hear, the-- views./on this ■ ; point of readers/of your'paper more. eon-. ■ vcrsant than-I'am .with.the'relative:con-' •'■--' ditions here and in England.'. What English Farms' Fetch. ■-._:■■ After looking through/ "The Farmer \ -■'.-' and -Stockbreeder"/ advertisements,...l, ■ turned up recent Australian and American 3>apers,/and I have" copied out a number ; . '■ of extracts from.their columns. Here is' .' ■■-.'•* representative selection from' the Eng- -, ',';.lish;list of last-month:— ..:'.'■ ] /•' :.;.■■■ .."41400 will-purchase & very desirable ; ■•".-■.-■.. freehold' farm of 54 acres, situate one mile , ■ from station, 25. -miles from London; .. capital house and'ample buildings."—This -• :4s equal-t0'427, per acre. -'.■" ' .'; '■'.. ', ', ."A'shford (near).—Rich ;dairy farm ,ci. .. 150 acres '(40woods,- remainder-pasture); ; .gentleman's residence; excellent buildings,' ' • two,superior cottages; 44500, including ■; / ■-.'". ;to 431) ah. acre. "Adjoining a station, an hour /from' ? : •'. town.—Ah' excellent well-watered, farm of . .;. nearly; 100, acres;, picturesque.- residence, i i . ■'. -.pretty'/.grounds;.-;...splendid ( . ; .buildings;- '-,''-- bailiff's house, .'eight cottages; 43750.'—' i V:.'., :.: 'Equal 'to : .£37-10s. peracro.. ;.:.; T V -:, j ', -:' '-'Between Ashford and Canterbury. ■—' ■ ■-•...•:'■' Good farmhouso. and buildings,'■ two, cot- < : ' tages, 'and 108 acres of excellent dairy land; .£2ooo."—Equal to about 420- per; i acre.- "'V i- !'•■■ ■-/ -; •'-;.';."'■'" ' ■ V.' "Bedfordshire.—Gentleman's' residence;' i -'.' exceptionally good buildings; six Cottages, ■'■ . and-nearly* 400 acres of rich ! land (half '■ .-' pasture);;; orchards, woods;;and parkland?-; ; ~;..,- tithe free; 6000 guineas.''—Equal to. about \ ;. :415~per.acre. ; ;..,'\"^ : ;'' V';/-/.? ■']•■:■■■:*'■ ■ "Worcestershire.—A;"'-;.valuable I grass . .'.-,- farm:of-.350 acres,'toj be,'sold'-at a:very. . -'■'low-'price.;'.' superior ..'well-placed ,• house/ ' .-;■ :,.excellent.farm buildings and/three' cot-; ■•':■'■■'■. tages; only 420 an acre; station two .1 ■:i : --j miles." - - '""■"■. ■' " ' . . Berks (adjoining' a station, 1| ..hours . .'; ' "from town)'.—Ah".interesting.old, manor •'. •'.'■.■.':■' house, two sets .of farm;-buildings* and' -. nearly 700 acres, of very productive land, • the best in the.country; '47500."—Equal' -■'.'.."■'.'.' to 410 14s. per: acre.' : ■■'■'■:.'J "Gloucester jhire—Good . house,, *build-y', and 260' acres of very' fertile Tand; "•' pr nearly all pasture,, bounded by streams.. /'.', - Price, including valuable timber,.Ugnaflt,.,, right, and immediate possession,' 46001).'' ' . 0 —Equalto'423 per acre.':.--. Our Government Advertisements. .//.'. These, are 'all typical advertisements, -.'-... and the property at 437 10s. per- acre; ■'. "'.. with '.the: "picturesque residence, pretty. .- .grounds, "splendid .':'.bnildings;V::.bailifi's '_.; 'house, eight cottages,'''; is' the highest- .' }'-■''■■:'-: priced estate advertised'in" "The Parmer :' :"• .! and . Stockbreeder.".. The values given • can presumably be taken as representative qub--tations; for English farming freeholds. ,"-.. From;tn'ein it .would,appear that in New Zealand pur present land values are no- • '':■■■' thing' r short of . insanity. I. notice that . New -Zealand is advertising. in-'-'England- ■< .that ''Government lands', can be obtained .. on easy'terms.-? ;'To, anyone' who has f01... ... lowed-the furious rushes,to every Crown '■'.-). lands, ballot'of late this statement^will,, - .'>■ appear 'delusive: in the highest degree;' --•-.;'■ What; I'Would like to know, sir, is whe.- ..'...'• >thor, apart'from an ill-grounded hope.pj, '■' success in a Crown lands ballot, thero'is'. '.■■■:■■• anything'to .tempt British farmers to ; try ' their, fortunes in-New Zealand in the pre- .. sent condition of the. farm prpperty mar- .' ketP'Prqm the above, prices I should think'it would be a good place to keep : away"fro'ni. ; .' '"' ;\ - . Some American Prices. ". '■' Froni-American publications I find that ■'.-' ' the average price of farms in the United •'.':'• State's wheat belt is 50 dollars an acre, or almost' exactly 410. This is right in the midst of'a population of 80 millions. ■ Prom the adyertiseme.nts. in the'Ameri- ; »n "Breeder's Ga-iette" of March 2, I noticethelfollowing properties for sale:— "Virginia.—B-iO acres of .'rich, level land, ': ! ;,only,2o[miles from the. city of Eichmond. '. . ... Nearly a; mile of 'river..'.frontage,',-afford: --.-. ihg cheap transportation. '.-, Blue grass, :'.■'..'-•.-.'■- clover; Wheat,.corn, and'oats make splen■did yields. 000 acres in" cultivation, 200 in. woodland. Peneed .into 80-acro: pad-' -.'docks.-.-„ Twelve-roomed brick residence in ■•' beautiful grounds, and numerous .other •4uildin'gs,.i'or. stock, etc'' Price, 45 dol- '■'"-■'.' Mars (4?)', per acre.X ■, ' .Hampden district of North Dakota.— ftfriimnroved and improved- wheat farms ,'. sat from 20 dollars (44),t0 35 dollar's (47) ;- :' 'roer. acrii. '> ~■-.■ . •' ■.' ' Pfa'nklin, Nebraska.—26s acres,- -rich ; ' .. loam,;all level, adjacent-Prauklin,-build-. -.'. ■• lings .''only, within- corporation, 135 acres alfalfa;'springs, timber,-blue grass. All ': /fenced's-foot woven wire; 7 fields; 12 hog '. and cattle.lots; cement walks, city, water, modern .'dwellings, barns, orchards; 30,000 . ,to 423 per. acre. ...' St.. 'Croix. .Tails,, fWisconsin.— 83»acre, dairy farm: in county having 34 creamer-; ies and "cheese factories; close to good railroad towns; rural route; tolephone in ' house. ? Eich clay loam soil; about half under plough, balance splendid hardwood timbered, pastme . with never-failing ;.' springs. ..Good frame buildings, well.and fences;'-orchard and small'fruit. Price, •3000 to about 47'Ss. per j- : - acre.'-':.;:. . '■... '' . ' . .Delaware, Ohie.—2B7 acres river bottom I Bnd-limestone blue-grass land, well located ;-12-rpom modern-,, house, tenant house, four barn's, abundance of living water.;"' good pikes; close to market; splendid stock farm; 70 dpllars per:acre. ! '"V '■•'"' One■'■! thpusand- sugar., ;trees.—Equal ,te /'.::''-, about ; 414 per acre. ' :,,- '.These; I take it, are fairly representa-tive-of-current values in Nerth America. :-. . I notice .in the, English papers that Canadian farms are advertised at frem 42 10s. .-'"■', to : 4B:per'-acre. An.acquaintance of mint from South America veils, mo that.ho ; ;.'.'.-,'• knows"of. properties at. present for sale ; •'■ .'in the! Argentine which carry five sheep to ,the acre/'and" for which only 41 an acre'is being asked. These are'all, ho ' . 'eays, .within, something, under six miles ./■:■' from '.railway stations.; "■' ; Australian Values. '..;.. Having started- on my-quest I have looked over'tho property advertisements ')/>" 'in the' Australian papers. I see from,the %■■'- -Sydney - newspapers 'that . Souths Coast dairy farms, adjoining township and butter i factory, are advertised as follows:— ', '.." 153 aerus, well improved, 47 10s. per acre. ', ■ B*B acres, some good"flats, all buildings, 44105. per acre. ' 58!: acres, house, etc., 300 acres cleared, i . • ■ 43 10s. per acre. 1: 190 acres, river frontage, house, outbuildings, residence to be done. Price, 1 - - • 4500. . }•; . 386 acres, close propose 1 railway sta- !'•■"■ tibn, 43 3s. per acre. 500-acres,-0.P., watered, good house. Price, -42000: ■ . ■" -, ■:.,.'.' : -.- ■ ,-'■; 146 acres, C.V., splendid-soil. Piict-,'43 j 'get aero.

- '50 .acres, house, improved, 4 miles from : town,: 48' per acre. • [ 640 (-acres, freehold, good position. Price, .45 an-acre, suitable subdivision. , -115<acres, Orara Eiver. Price/4300'. ] 120 acres, portion cleared.and grassed, . watered. Price, 4210.- ,-"•<...•■ , Is-the-last number of "Dalgety's.Ee- '« view" I also' notice properties as follows I in New South "Wales:— 1 Eichmond River.—4BoU acres, freehold j ( suitable for grazing, and parts agricul- j tural and dairying; eight-roomed house, j barn, stables,'etc.; good fencing and nino j paddocks; 42 per'acre. . " ( acres/,has.carried, oyer 9 3000 sheep' and a few cattle and horses; S about': 1000. aires now under cultivation ' .or ready to plough; 43 Is. per acre.,, | A Serious Question. j -' In South Australia last month the ,bal- j ance.of the Canowie Estate was.sold at. ' Jamestown. .:,It had been cut up into 29 farms ef splendid- agricultural and graz- j ins "land. The paid was * 45 12s. 6d. ah''a'cre/'tho.'record 411 Is., f while the,, total .sale, realised 471,080. At j the'- firstVdivisipnal-'-sale - : last December , 25,894 acres were disposed of for '4130,000,. E The highest price then paid, was. 49. Is., 4 arid the average 46 65.,- , . ' ' One might, go on quoting I figures inde'fi- ' nitely. .It is difficult to avoid the conclu-. J sion that current values'in-New Zealand ' are nothing short of preposterous. How ; much,.of all the imaginary unearned in- l c'remeht' in "God's Own Ceunty" really j exists and would withstand a fall in the € prices. of outproduce,?: Tbjs is a serious J question.— lam*/, etc;; V-N' • t - ...... ....... .- .......,,:. ~- .J.TX •'. J WAIRARAPA P. & A.--SOCIETY." ■ :^':-':i; ANNUAi'-MEETING. ■".'"' j .......... 1 ,/;(By u; TelCEra'pK.-^peciaJ; e .''...'"-...,.' Carterton, April 28. J The annual, meeting, of the 'Wairarapa 1 and East Coast. Pastoral and Agricultural 3 Society, was held'to-day,.,Mr. H. K... 1 Buhiiy, president, being, in ,the chair. • ' 'f The report and,balance-sheet, previous- \ ly-published, .were adopted:-,;' , , J: ■•Officers were elected as follows:— f sident, Mr., W,,Howard Booth; vice-pre- s sidents, Messrs..E-Eagle, junr,, and H. J Morisoh; treasurer; Mr. G. W. Deller; * assistant, ,trea§ui;er,' .;Mr.: P.- V. Mpore; 6 ■auditor;''' Sir; ; J;'- :; M6ncrieff';'-'''committee, s MeiSrs:.'H;':Hbward;.Booth,- W. C. Bu-chanah,'MiP.'.H'.-•]?.;''Bunny, P.' Court, A;.Day'sh, W.". Pislier,'-'.W." :A. Hart, J. Hpdder,/R. G.'Kemble, J.'M. Lightfoot, 1 T. V. Mpore,;J. G..Oates,"S. Poison, C. 1 Eeid,-T. Beid,'S. C.'S. Kelley, H. H. - ,Wolters/ H; M'Phee, and AV. H.- Bee- j! tham;. .'■ -■ ''. , ... ■ '' f ;A- oommunicatiou was read from the i Gisberne.'branch,, oMhe.,Farmers' TJnioh r iu regard tp. urging 'the.' Gpvernment tp 7 appointla grader'Jfor'; meat intended .for - s , .export on.lines,similar to those existing g for graders' for- dairy 'produce. This • was j considered impracticable on account' of v the, different qualities of meat grown to a suit.the country in,which it.is bred. Nc J action was taken. •:''■;'■■' ... \ i-The ■'incoriiing'; committee -was recom-mended'to-consider the question of altering the;period of the buttor : fat contest from ! .ten/to six'days. '.■;■ x i One'new'.member'was elected. j ':. .■',;.■.,..■ :; . "' a .:-:,■':': UNION. "■ [ ■' :: ;-''.. ; ::■'' -,- : "■ ''" ''■■'■■■ .'■' i : PALMEKSTON : NORTH BRANCH: t . ' .- ■ - . , 1 . : 1 ; The Annual meeting of the 'Palmerston t branch-of the Farmers' Union was held yesterday (telegraphs our correspondent), Mr. J. Balsillie, chairman, presiding. Mr. M'Naught, vfool-classing export, , wrote that he would bo visiting the North slsland in June,:: and,would be, pleased' to' 1 arrange'' for a lecture; - The' matter was c left in the hands of the sub-committee, < >Wttbriare airahgingvfori the lecture to be ' given in. connection with tho Technical J School classes.-,- ..),.-• - i ■ -,A letter. was 'received from. representa-; { . tive fruit-growers, asking the branch to 1 assist in procuring small owls for the de- i struction of, birds. It was resolved to 1 ■write to the Hawke's Bay Association for. 1 information. ':'■:. ' .'•"'-'-' . •'-. . .. ! : 'A motipn, .was passed protesting against ,' the-actien''6f..therState.;Fire.. Insurance ' Office in its attitude, to the Farmer's' . Mutual Association ..in. endeavouring to 1 obtain-all insurances oh property. mort- •] gage'd to the Government Advances .to 1 SetGers, Office, as r?cently brought before < the Taranaki Farmers' Mutual.. ' .-.The election of officers was.as ' Chai'rmanV Mr; j; "Balsillie (re-elected)';' 'j vice-chairman/Mr. L. E. Bryant; secre- i tary, Mr. W. Hunter; committee, Messrs. 1 H. J. A. Barber, J. Best, A. Buchanan, ' •e':""Voss,'F. Maulei J. Kyle, J.. Wingate, 1 Captain Hewitt, Alex. Parmer, A. E; : 'Russell, 'OT. Stubbs, A. Matheson, A. ' Harding,' G. Kendall, H. M'Kewen, and ' W-. -A. Rix. Messrs. J. R. Wingate and J.. Balsillie were elected as delegates to the Provincial Conference to be held at Marton, on May 24.. V. It was resolved that the annual dinner be held'.on May 17. . DEVELOPMENT OF THE COUNTRY. MiNISJER*S ; ,'IN.TENTIONS. ' '• ; Speaking- at ■■ Dargaville' bn-'Monday. ovening, the Hon. T..Mackenzie (Minister for Agriculture) stated that the exports in connection with the dairying industry .last year were valued at 43,000,000. As Minister of Agriculture, he intended to specialise in-the establishment of reliable dairy herds of recognised milking 'strains., AVith.r'cgafd,' to/ fruit, millions of acres of poor lands/ were capable of producing an amazing 'quantity of fruit, with no'manure and■ no. fertiliser. .He would; endeavour ■ to have fruit farms prepared for people, to take up. Twentyfive acres in fruit would support a fani. ily, in affluence. Tho "difficulty at present was that, people had not capital to wait for a Iruit farm to become productive, -and, if tho .Government could prepare ' .farms for selectors' to-take up, they would be conferring a greater benefit upon the people, 'and ' upon the-Dominion itself. The New Zealand, summer, corresponded with the Canadian; winter/" and we should bo able to follow them in the market. : What was required for, the development ! 'df this in'eir and money.,. We had a vast area here, and if the Government could borrow at a reasonable rate of interest, and induce the right clas of people to come here, it would be doing a. great work. Mr. Charles Carr/ of' Feilding, has returned from a trip to • Southland, where he purchased the.whole of the purebred fleck of Cheviots from- Mr. Barnhill. fir. Carr already has > the best purebred flock of Cheviots in the Feilding district, winning the whole of the prizes in the Cheviot class at the last Feildinc Show. ' The Christchurch Chamber of Commerce has fixed the following standards for grain this season: Canadian oats, B grade 401b.; Sparrowbill oats, B grade 881b.;"Gar-tons, A grade 401b., IV grade 381b.; Duns, 371b.; Danish, 3Clb.: Tuscan. Hunter's and Pearl wheat, GOlb. The rise in price of bacon pigs has been received with great delight by farmers in the Taikorea and Glen Oroua districts, as it will help to swell the milk returns, which ' are - now • decreasing., .Several of the farmers in the Taikorea district havo been in the habit of mat. ing up a truck load of pigs • between 1 'them, and railing them direct to a well--1 known, linn of meat exporters in Wei ' lington, ami are so satisfied with the ' arrangement that they intend to continue ' rho method of disposing of their pigs. A "Manawatu Standard" representative was' Shown -'i return riinninx into 4100, proceeds of tho last shipment mado by ' the farmers interested. , It has been de'eided to'hold the Taranaki Winter Shew Thurs- - day, Friday, and Saturday, Julie 8 to 11, , as" previously arranged. Mr. E. .T. Hughes, of Pahiatua, has ' purchased a' Government lease of some 12,000 acres between Petane and Mohaka, ' -Hawke's .Bay.- ;. .-. . ■'. . 3 » ?.'he Government Bee Expert,(Mr. Bruy) is at present visiting the Waiiafapa,