SELLING OF PROPERTIES.

Franklin Times, Volume 9, Issue 642, 17 June 1921, Page 9

SELLING OF PROPERTIES.

DEMAND FOR SMALL AREAS.

GOOD PRICES RULING

There continues to.be considerable actitvity in property in the city and suburbs. Particularly with reference to. dwellings ranging in price from 1:1600 to 21800 there are frequent - in--quiries. A number of .business sites have changed hands lately, and small farms of areas from 50 to 75 acres are also in demand, In support of this statement it is noteworthy that nearly one-third of the sections in an estate recently disposed of at auction have since beep resold at an advance on. the prices realised under the hammer.

A three-storey brick building with a fronthge of 33ft and a depth of 190 ft, situated near Whitcombe and Tombs, Ltd, Auckland, was sold Last : week-end for £42,000, being a little ever £1272 per foot. The purchasers, Messrs Lewis R. Eady and Co...propose to convert the premises into a thoroughly up-to-date establishment for their music business.

One city property which failed .to reach the reserve price at public auction was sold within , a week, through private agency at a pnee in excess of the highest auction bid. When several sections in the wellknown Panama Estate at Otahuhu were submitted for sale at William A. Horne’s public auction rooms last Saturday, the properties were withdrawn. not reaching the reserve price. The Ipg'hest offer for the Wallace homestead and section 9 was £1935.

In connection with the recent phenomenal magnetic storm and its effect on telegraphic lines, wifeless and submarine. -cables, an expert telegraph engineer points cut that the public may not be aware that whilst there art always certain magnetic influences at work in the air, there are always electric currents of varying' intensity in the earth. That is so well known in telegraphic circles that the fact was not mentioned at the time of the big disturbance, when the trouble was visualised by the Aurora Australis. The earth ‘is the common return-for all land lines,' except where a metallic one has been installed, and its conductivity is strengthened or weakened according to the variations mentioned. There have been several occasions when the electricity of' the earth has been strong enough ciently for normal working without the use of batteries.