AUCTION SALES

Dominion, Volume 12, Issue 235, 28 June 1919, Page 10

AUCTION SALES

M '\i • . f lv : -U ■ ' i ft FORTHCOMING FIXTURES. - . fJ TO-DAT. Nearara Estate, Morrison's Bush, 11 a.m. Jo! o! stock and implements IDal- '. "■* gety and ,Coi). Arapaepae Road,-Levin, 1.30 pim.—Sale of, i 6took, furniture,' etc. (Abraham and ■ /i;? Williams). TUESDAY. {Shannon; 1 p.m.—Sale of stocn and implemeats (Abraham and ;!Villiamß). Chamber o£ Commerce, 2.30 "J p.m.—Suburban- property •. Bala (H. : B. Leighton). • : ... - PRICES OF MANAWATU' LAND WELL THEY BE-MAINTAINED? 1 -By Telegraph.—Special Correspondent. V: Palmerston North, June 26. .', • -jSit'ißobert Stout's recant statement '.' (hat-lie had seen three land booms burst and his inference'Jhat the present one Would share a like -fate, is being ti.kcn to heart in Manawatu,'.and it has.pro-, roked quite, a controversy as to whether {lie phenomenal price which is now obtaining .for first-class farm land. can 'be ■ maintained. It is pointed out, however, by those competent to judge that it n.ust be reniembered that on the'occasions re- : ferred to-the prices were inflated by '•peculators, ana. the business done was . 'not of a genuine nature. On the present occasion, however, it is pointed out by many good judges who are in a j-csi- : tion to speak with, authority on the subject that the bulk of. the landwhich has changed hands in this districtlately lias . been, purchased .by, men of. substance, many-of whom have ha,d lifelong experienceVon the land,, and who not only .pay off, the deposit, but are in a position to ■ pay up-the principal also. In sonic cases they, purchase.land-in. close proximity to tliat'worked by them for. years, and this should be.a very good criterion that they - know what land is worth better '■han / critics who speak with merely superficial knowledge. ; 'It has been asserted'in some quarters, that land purchased by; the Government : in."the Kairanga district for returned eol- , Siers -at. <£88. per acre -is dear at the price,.'aild .yet within the past few dr.ys land in the same'district, and not so favourably situated, has changed liaiids 4t iIOD per acre, having been baught by one of the most practical and hardfieaded farmers in New Zealand. The gradual cutting up of properties was , boiind to have tho effect of puttiug up values, and it is well .known that closer settlement always, -mean* enhanced •,allies aid -more intensive farming. . 'Amongst , properties which hava been Rubdiviaed in'the . fog the Inst, few years : are 3fT estates; aggregating' 19,000 odd. acres. Tho prices . obtained for the most recent blocks to. be cut up range from .£BO to iBIIS for firstclass land,' and in exceptional cases,'with : : ' improvements, '.up to ils7.per aci;e.