TARANAKI LAND VALUES.

Manawatu Herald, Volume XLI, Issue 2000, 8 July 1919, Page 1

TARANAKI LAND VALUES.

In the course of the hearing of argument in respect to the distribution of farm lands under the will of a farmer, late of Whenuakura, near Patea, Mr P. O’Dea, solicitor, of Hawera, said that in Taranaki they were paying up to £l5O per acre for d:\iryi-ng land, only about £lO per acre being paid by way of deposit, the balance being on mortgage. Sometimes there were five and even six mortgages on a property, and because of these small deposits and big mortgages the land was inflated in value.

The Chief Justice: What would this land carry —a cow to two acres'?

Mr O’Dea : The land I have in view would do belter than that. It would

carry a cow to an acre and a-third. People are paying these high prices now hoping to sell out next season at a profit. This is going on throughout Taranaki, and it is very probable that the last buyer, and perhaps others, will suiter. The payment of the small deposit is mainly responsible for the inflated values.

The Chief Justice: I have seen three land booms collapse in New Zealand, and I suppose we will see another collapse shortly.

Throe piers of the old HamburgAmerica Steamship Line in Hoboken, in custody of the alien propercustodian since the beginning of the Avar, have been purchased for £500,000 by the United States Government for national purposes. Acquisition of this property leaves to the great German liners only three piers along the Hoboken waterfront, and in the port of New York, making certain that it will bo many years before German interests can resume traffic with New York on the same scale as before the Avar.

“The firm employs 5,000 men, and their yearly losses, orving to thefts of tools and material, are estimated

at £10,000,” said a solicitor, at a London Police Court recently. He waS'-prosecuting Charles Ottley for stealing a number of chisels and brass fittings belonging to Messrs

Green and Silley Weir, Ltd., shipbuilders, Canning Town. Counsel

for the prisoner said it was a common thing for men to take tools home, so that they would be handy for any special job next day. Ottley meant to return the chisels. The magistrate said it was appalling to hear of such extensive thefts from employers, and fined the prisoner £5.