COMPENSATION COURT.

Gisborne Times, Volume IX, Issue 810, 27 January 1903, Page 3

COMPENSATION COURT.

(Per Press Association.) NAPIER, last night

'At, the si things of tlie Compensation Court to-day, the hearing of the claim for compensation for the compulsory taking of the Milbourne estate was proceeded with. Horace Laker, surveyor, estimated the property as being worth £148,207 witli an additional 15s per acre for cutting-up purposes, making a total value of £5 12s fid per acre, which was the amount at which the land was assessed by the claimants. Some parts of the property, he considered were worth £ll per acre, and other part;. £ls to £2O per acre. The Court had awarded £5 ]Os per acre for Forest Gate, and he considered Milbourne was worth more than Fores! Gate.

W. Has tie, manager of the Milbourne run, stated that it was at present carrying 40,,627 sheep, 847 cattle, and 48 horses, and he considered it was capable of carrying ‘another 1000 head of cattle. The returns, taken over a period of ten years, give an average net revenue of £B,Bol,and £2OOO more might be made than at present, if another 1000 head of cattle were carried, lie estimated the property as being worth £5 13s 2d all round.

J K. Lanauze, stock arid station agent, had made a careful inspection of Milbourne, and valued it at £5 8s In as a sheep run, and at 10s to 15s per acre if cut up. Matthew Morrison, of Palmerston North, who knew the property well, having frequently visited it for the purpose of buying stock, sail that he had recently made an inspection of the run, which he valued, with improvements, at £179,241, or about £5 05s 6d. This was the value for cutting up. One part of the run he valued at £ll per acre, and, if free from flood, it would lie worth £25 per acre. Other parts were worth £t> 10s to £9 per acre. •John Chambers, sheepfarmer, valued Ihc whole of the estate at £f> Ids per acre. Much of the land was suitable for dairying, and was worth £l2 per acre. The swamp portion could be easily drained, and would .then be worth more than the price named. lie thought Milbourne was understocked, and that it ought to carry 2,500 head of cattle, in addition to the number of sheep now car. ried. Milbourne should be worth

not less than £3 10s per sheep per acre, and ought to return a little above 5 per cent, on its capital value The hearing was adjourned until tomorrow.