PAEROA SALEYARDS.

Hauraki Plains Gazette, Volume XXXIX, Issue 5240, 17 February 1928, Page 3

PAEROA SALEYARDS.

A. & P. ASSOCIATION’S DECISION. LEASE.MADE TO LOAN CO. . For some time past the land and finance committee of the Hauraki A. and P. Association has been endeavouring to dispose of its saleyard property, comprising over four acres. The price required .for the area, consists of two sections, was iNoO, but a purchaser was not forthcoming. The committee has also been negotiating with the Auckland branch of the N.Z. Loan and Mer.canitilJe Agency Co., Ltd., to lease the yardfei, and at a general meeting of. the asso.ciaUpn on Monday night the president (]£r H. J. Hare) reported that a five years’ lease, of the yard had been accepted by the company under the following conditions: — ‘, “That the association: agrees to lease the yards to the company for a term of five years as from January ,1, jkv 1928, at an annual;, rental, of £75 a. year, rent to be paid half-yearly. The land’leased not to include the Station / Road property, which, the association reserves the Tight to sell, at any timeThe association to leave sufficient land in the paddock to give an entrance to the yards from Station Road. Although the paddock is; not included in the. lease, the, association agrees that the company may have the sole right of of. the land until such time as it may be sold Without any further cost. The company to kt|ep the hedge in order and the land free of noxious weeds. Water rates on the whole property to be paid by the company. The company, to take over the yards, in their present condition and maintain them in that condi- . tion. The association reserves the i right to make full use of the yards and land at any time for show pur- : poses, without any .payment or rebate of rent, also to retain the use of. the small shed at present on, the property and being uoed. for the storage of hurdles, etc. The company may also make use of the shed provided it is ■ kept locked and does not interfere v with the association’s property. The company to maintain the drain run; through the saleyard section and keep it cleaned' ©ut to the satisfaction of the association. The company to keep the yards and paddock clean, and to conform to the requirements of the Paeroa Borough Council, The ’company is to c> intinue holding, sales - at regular intervals in the yards, and to'hold at least ten sales a year.”

- : ACCEPTANCE OF LEASE. Ln a letter dated February 3 the Loan and Mercantile Co. wrote accepting the lease, on the terms stated, but asking that the sentence “the company to take over the yards in their present” condition, and maintain them, in .that condition” should be altered to Include “fair' wear and tear excepted?’ ' z , On the motion of Mr E. W. Pdi/ritt, Seconded by Mr W. D.Nicholas, it was ' decided to approve of. tffe conditjonP of lease with the "alt'eratidii' of'the askpd ; . for,-, and- that; a,; legal ' lease on the. lines suggested: he drawn up akd signed. DISPOSAL OF RENTAL. ■ The president suggested .that, the sum -of £25 of'.the rent received be placed to the credit of the overdraft each year. / ■ In moving that £5O ta year be placed to the credit of the overdraft Mr •% F. Johnstone said that it was necessary to bear in mind that although the show in December had been a successful one, following years, might be run at a loss. As a. general rule A. and P. shows were on/ the decline. Motors were taking the place of ani- ' iq|tls everywhere, and naturally entries in horse classes) would become correspondingly less. Then again, breeders of cattle .were now going in more for production rather than for type and exhibition purposes. > Mr P. R. Hubbard seconded. The president pointed out that front the £75 a ybar collected as, rent, rates amounting to £l6 a year and interest totalling about £42 a year had to be met. In. the interests of future corol■mittees it was desirable to take care what was done. Once the money was placed to the credit of the overdraft account it could not be got at again. Mr E. P. Fathers considered that the show would steadily improve, and ■wiliile it was necessary to work on cautious lines, it would be a pity to tie up the money in too hard and fast ajhianner. The occasiqn might easily arise when a few pounds would be required in the No. 2 account, and it would be a great advantage to have the money available needed. Mr Johnstone'pointed out that the guarantors desired to have the overdraft wiped off as soon as pcfesible, and he maintained that £so' a year wag a reasonable amount to be set| aside. It would.be an inducement for members to work in the interests 6f the association, especially if it came to a time when money was required to carry on. ■ After some discussion Mr Nicholas: moved as an amendment that not less than £25 be, paid off the overdraft from the rental received: for the cur-•z-aaat year, and that the matter be reviewed at a subsequent general mlcieting. Seconded by Mr D. Sheehan. The amendment was carried the voting being five to two, Messrs Johnstone and Hubbard: dissenting.