Wellington and Manawatu Railway
The manager of the Wellington and Manawatu Railway Company gives the following account of the result of the Company's efforts to settle its landed endowment : — "Since 1887 we have sold 82,820 acres of rural lands to 370 persons, being an average of 224 acres each. The company's lands were subdivided into sections ranging from an area of 30 to 2,000 acres. The sections, after survey, were offered by public auction, and afterwards by private sale. The terms of purchase were ten per cent deposit, and balance on mortgage at 5 per cent interest for seven years, or at 6 per cent for fourteen years. It may be taken as a proof of the success and usefulness of the company's mode of disposing of their land that, out of the whole number of 370 purchases, only one has failed to carry out the conditions of the sale. Many of the original holders have disposed of their sections at considerable profit, after felling and improving their land, and invested in larger areas. Ail the land sold was bush, country, and had to be felled and cleared for settlement. Upwards of 48,000 acres have been so improved, and are now carrying stock."
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https://paperspast.natlib.govt.nz/newspapers/FS18921029.2.23
Bibliographic details
Feilding Star, Volume XIV, Issue 56, 29 October 1892, Page 4
Word Count
203Wellington and Manawatu Railway Feilding Star, Volume XIV, Issue 56, 29 October 1892, Page 4
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