GOVERNMENT LAND VALUES.

Dominion, Volume 4, Issue 1241, 25 September 1911, Page 4

GOVERNMENT LAND VALUES.

FROM DIFFERENT POINTS OF ' ' VIEW. In view of Sir Joseph Ward's recent remarks to tho Blenheim deputation that tjio Government was unable to purchase, land at a fair price, nml of fir. Find-lay's repeated assertions of tho nbsclulo fairness of the present method 6' assetsing and colleoiinß probate duties, the following actual facts, forwarded by a correspondent, may prove of interest:— GOVERNMENT VAIiVJXG FOB PURCHASING rURI'OSES. No. I.—An estate situate in Canterbury. An association formed under Lands for Settlement Finance Act. All shares subscribed, sovc-ral of '.he vendor's iimncdiato relations being members. Some of the members oft'orod to pay one-third of their purchase money in cash. On second last day of a six months' option, Lands Purchase Beard refused to sanction purchase. Next day estate soUl in one block at same price to a moniker of the association. Vendor refused 16 complete rolo. Legal proceedings now pending tp compel completion. No. 2.—Southern estate refused by Government.- Purchased by a 'syndicate, and resold before possession taken at 15 per cent, profit. One block recently resold by a sub-purchafor at a further 30 per cent, increase on his purchase price. No. 3.—Large ostato Mai'lborough district, through centre of which Main Trunk Line will shortly run. Refused bv Government. Lar»o area recently sold at an advance of 15 per cent, on price offered to Government. THE CONTRAST—WIIEN COLLECTING PROBATE DVjTY. No. 4.—Estate situate, in Canterbury offered by auction by testator before bis death with a reserve of £25 an acre;.no bid. Offered by his executors at auction with same, reserve; no bid. Sold at ,£23 10s. per aero cash. Government valued property for probate duty at J £3o per acre. The above facts were' -represented fco Commissioner of. Stamps, but- lie declined to take any Notice of sale price. No. s.—Estato in Canterbury. Special valuation made by Government for probate duty purposes .£14,600. Application made to a Government Department for usual three-fifths, namely, J?8700, refused, but .£7OOO offered, or less than half, of probate valuation. ■