The Bushy Park Estates.

Hastings Standard, Issue 299, 17 April 1897, Page 4

The Bushy Park Estates.

In his address to the Suburb electors at Newtown on Wednesday last Mr Seddon made the following remarks on the Bushy Park Estate, as reported in the N.Z. Times : In respect to Bushy Park, this was the explanation : That estate fell into the hands of the bank because the owner owed money to the bank. The bank worked it for some years, and put managers there, but it did not give a clear profit of per cent. The year before last they actually lost the interest on the whole of the capital, and £4O beside. Last year, owing to the good prices for grain, it paid something better ; but taking the last four years, it did not pay a clear per cent. Nominally, and owing to the prices coming in from grain, it could be brought up to 5 per cent, but with the risk in working it, and with the'extra charges entailed, there was a considerable risk. Twelve month ago all the estates under the contiol of the Realisation Board were advertised and there was not a single offer for Bushy Park from that day till the day the McKenzie boys bought it. (" Why.") Because it had a bad name. (A voice : " Why didn't the Government purchase it under the Laud for Settlement Act?") He would give the reason why. He would read to them a State document signed by Mr S. Percy Smith (Chairman of the Purchase Board), Mr J. McGowan (of the Tax Department) and Mr Maitland; — " We, the members of the Board of Land Purchase Commissioners, appointed under the Land for Settlements Act, 1894, for the Otago Land District, in compliance with |the directions contained in your memorandum of the sth November, 1894, have the honor to report, as regards the land mentioned in the schedule below (Bushy Park estate) : —lst, That after the members of the Board, accompanied by their valuer, had visited the Bushy Park estate, and considered its suitability for the purposes of the Act, it is of opinion that the want of water, large homesteads, &c., the property is not suitable for subdivision into small farms, and, therefore, cannot recommend the purchase.—S. Percy Smith (chairman), John McGowan, J. P. Maitland." There was the answer, continued the Premier. The law declared that these Commissioners must investigate, examine, report and advise. They had advised the Government that they must not touch Bushy Park. (Cheers.) I Dared any man in that room say a word against these Commissioners, or say that their report was of a political colour ? They dared not do it. (Cheers) Another report was as follows : " The members of the Board went over the Bushy Park estate, accompaniedi'by the Board's valuer, Mr A. McKerrow. The main reasons which the Commissioners have in mind against the purchase are : The large and expensive homestead, suitable only for a large property, on which money seems to have been spent in a lavish manner. This homestead is not suitable for a small farm homestead, and spread over the whole property its value would add nearly £1 per acre to it. The large woolshed and yards are suitable for a big estate, but not for small homesteads. The fine flat along the river, which, though excellent in soil, is subject to heavy floods precluding the erection of homes on it, and to exclude part of the hills, with subdivhiQins running across the flata, makes, the difficutly greater about the southern sub-divisions. The state of the grasses is such that they want renewing to a large extent, the place having been (and still is) over-stocked, and the good grasses eaten down or destroyed. The roading would be difficult without cutting the property very awkwardly. Believing that dairying is what settlers on a place like this, and in such a district, should look to, the want of water is a great drawback to cutting up. In settling such a block, the rents necessitate that the new settlers should be able to get some return at once; on this place, owing to its having been over-stocked, they would not do so advantageously; the place requires a rest and breaking up. The fact is, the place is better as one estate than if it were subdivided." Again, Mr James McKerrow, chairman of the Land Purchase Commissioners, had reported:—• "Regarding Bushy Park estate, I lind that the members of the Land Purchase Board of Otagd were on the ground inspecting it two years ago. Then they declined to recommend tho purchase, because thoy considered the estate unsuitable for .sub-division into .small farms on account of the want of water on the ridges and the liability of Hoods of the find Hat along the Shag river ; aLo that, while the expensive homcteads, woolsheds and yards would be practically useless for a small farm, their value would have to be spread over the whole estate, and each section or farm take its quota of loading, although deriving no benefit therefrom. The Board considered that the place was better to be worked as one estate than if it were subdivided. Under these circumstances, I do not see that there is any likelihood of acquiring the lands referred to in the petition—(Singed) Jamks Mi'Kkhuow, chairman Land Purchase Commissioners." Could a word be said against Mr James McKerrow, a man whose name above all others deserved to be held in respect. (Cheers.) For tho first time, these reports wero now made | public, and he asked those newspapers j who had imblished unfair charges m I this mutt r t publish in com- ! mon Cairo il « reports. (Cheers.) ; Anothei r jnr from the officers | stated— I ** The proceeds of the sale of Bushy Park will yield to the Realisation . Board the sum of £9OO, or p»-r ' cent on £20.(100, free of all respon--1 sibility or deductions of utj kind."

Mr Foster, general manager of the Realisation Board, had written as follows : '• Regarding the advertising, the re.ni; I: of the general advertisement inviting applications for the purchase or lease of the various properties was without satisfactory response, the only enquiries or offers being from persons and at rates which indicated the spectator only. So far as Bushy Park is concerned I have always considered it a property which, to ensure the best price, we must wait enquiry from a purchaser intending bona ride settlement on the land. I am convinced that had it been submitted to public auction we should have found very little competition, and probably the property would have been passed in very much below its value, but such bid, in the event of negotiations by subsequent purchasers, would have been used against us as indicating a market value. Whilst admitting freely the advantage of public auction and public competition in most cases, I submit with the most perfect conviction that Bushy Park was an exception. I consider we have reason to congratulate ourselves upon the price at which the property is arranged to be sold." The Premier read figures to show the loss which the estate had incurred while in the hands of the Assets Board. The colony had now got 3+ per cent, and no "anxiety or responsibility. In the presence of the facts he had given them, no doubt the Press would withdraw the charge of corruption. The facts defied the most captious critic. There were hundreds of other estates dioposed of, and not a word was said ; but because in this case the persons concerned were the sons of poor old John McKenzie, the Minister for Lands (loud cheers) —they were to be punished because their father was an honest administrator of the lands of this colony. (Cheers.) He was hated by the Opposition—(" No ")—in respect to his land for settlement policy, not personally—personally they liked him, and they liked him (Mr Seddon) too. (Laughter.) He had given them the facts relating to Bushy Park; he had told the gentleman who interrupted that he would leave him in the bush, and there he was. (Laughter and cheers.)