SELLING A TOWN
THE HIEEHOLD-OF TAUIiATtUNUI. By TelOßranh.-Pross AmwiaJioii ' ■ Taumarunui, March 15. An error in the transmission of a telegram rend: "Tiuininriimii Jjorough mising loan of live Uioiisaiul," should have read: "Fifty ,oiia thousand.". ■ The freeholdijfg of the town is a burning question htill, both here and al; Te Kuiti. Judge MacCormick, in udvisiii" Natives to sell the whole township lo the Government, said that the rents were so small that the money was absorbed by taxes, rates, and other expenses, and for the remaining ten'years of the first term of the leases the Natives would be losing money instead of having- an income The Government valuation of the Natives' interest on t|io unimproved value in 11117 was .JiiftOOO for the whole town, bul, the Government would have to allow for loss in the difference'between the rents aiii'l interest on capital invested, ami ivou]<! probably not pay the I'iiil Government valuation. If tho Natives got anything liko .170,000 to invest they would*bo in a good position. The Government need not pay out in cash. The Native Land Board would doubtless accent IV per cent, bonds on behalf of the Natives", and tin's would permit them from wasting (he capital.
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https://paperspast.natlib.govt.nz/newspapers/DOM19190317.2.81
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Dominion, Volume 12, Issue 147, 17 March 1919, Page 8
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199SELLING A TOWN Dominion, Volume 12, Issue 147, 17 March 1919, Page 8
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