LAND SETTLEMENT.

Dominion, Volume 5, Issue 1528, 26 August 1912, Page 5

LAND SETTLEMENT.

■ o OPERATIONS FOR LAST YEAR. The report upon land for settlements operations during the year ended Murch 1912, states that 109 properties, containing 313,452 acres, were considered during tho year. This is an increase of 28 in number, but a less area by 37,256 acres. The invariable reason given by owners was the ever-increasing difficulty of obtaining adequate labour. While there was a paucity of applicants for agricultural lands, the reycrse was the case for grazing. As an instance, for the Four Peaks Settlement, of an area r.f 12,692 acres, subdivided info eight sections, thero wero 393 applicants, while for the Timaunga Settlement, of 5957 acres, mostly agricultural land of good quality, there were only thirty. Both settlements are in South Canterbury, and wero offered on tho same day. /Tho area purchased and taken possession of during tho year was 44,447 acres freehold, together with tho goodwill of 55,300 acres of Crown leaseholds. In addition, nine properties, containing 10,690 acres, havo been purchased, and nro now being surveyed. These were all secured at reasonable prices, considering tho high values placed upon the bulk of tho lauds offered and the prices ruling generally. Tho actual expenditure was .£381,483, making a total up to March 31 of .£5,348,071 for 1,296,912 acres. _ The hardening of the money market, it is stated, will undoubtedly havo a steadying effect upon the undue inflation of values, and will in all probability considerably curtail tho operations of speculators. Tlio 6iim of =2381,483 was expended in purchaso money during the year; £409,215 was expended in redemption of debentures, and .12223,11!) was absorbed in interest payments. LAND SETTLEMENT FINANCE ACT. Tho total number of associations incorporated up to March 31, 1912, under tho Land Settlement Finance Act, was twentyfour, with an area of 23,G08 acres, rained at <£276,195, and a membership of 152. Notwithstanding the difficulties to bo met wilh in starting new settlements, the report remarks, it is pleasing to be able to stato that in only one or two instance.? lias an extension of time been asked to meet payments. Besides the associations already incorporated, seven others havo been approved, while several more aro under consideration. A number have had for various reasons to bo declined. The preliminary requirements of tho Act, it is added, aro still a source of annoyaneo and delay, and, should an opportunity occur, several, very necessary amendments will bo suggested. The general opinion is that tho principlo of tlio Act is a good one, but that tho machinery is defective. In any caso the results so far quite justify the experiment.