SALE OF WHARF PRIVILEGES.

New Zealand Times, Volume XXX, Issue 4338, 13 February 1875, Page 3

SALE OF WHARF PRIVILEGES.

The lease o£ the tolls leviable on the Queen’s wharf for twelve months, and of the fees derivable from the sheds on the wharf, the steam cranes, and of the bonded store for a like period, were submitted for sale by auction by Mr. George Thomas on February 1. The sale was by order of the Corporation, and was held on the wharf. The conditions, which were very explicit, having been read by the auctioneer, he informed those present that hoisting machinery of the invoice value of £IOOO was ordered from England, and upon its arrival here the lessee would be charged for its use at the rate of 20 per cent, per annum over and above the rate at which the lot in which it was included might be knocked down to him. The announcement did not appear to meet with the approbation of those present. The auctioneer then went on to state that the tolls would be put up in two lots—the wharf in one lot, the sheds,.cranes, &e., constituting the other—the Mayor, on behalf of the City Corporation, reserving to himself the right to make one bid for each lot. The rate of bidding was defined at not less than, £SO. After some questions had been answered by the auctioneer, the first lot, the wharf, was put up, £3OOO, by Mr. James Smith, being the first bid. Messrs. Jackson, O'Shea, and Smith alternately bid, sometimes the minimum sum and at other times £IOO, till at £4OOO Mr. Jackson ceased bidding. Mr. Smith and Mr. O’Shea then carried on the competition. When £SBOO had been reached the bidding stopped, and Mr. Moorhouse, on behalf of the. Corporation, announced that he did not intend to bid for that lot. However, no further advance was made, and the wharf tolls were knocked down to Mr. O’Shea for the above sum, viz., £SBOO. The second .lot —sheds, cranes, &c.—wasthen submitted, Mr. John Martin leading off with £IOOO, .which Mr. O’Shea quickly brought up to £2OOO. His Worship the Mayor hereupon announced that the reserve placed upon the lot by the City Council was £2250, to which Mr. O’Shea immediately added another £SO, which resulted in his securing that lot also. Mr. O’Shea, as the purchaser - , handed over to the City Clerk, £2OO, the amount specified to be paid on the fall of the hammer. At the conclusion of the sale Mr. Moorhouse informed the purchaser that it had been decided, on behalf of the Corporation, to allow the lessee the use of the hoisting machinery ordered free of the 20 per, cent, as stipulated in the conditions of sale. The total proceeds of the sale amounted to £BIOO, the sum at which the previous lessees purchased the wharf for a period of three years, just expired, being £4OIO. During the sale it was understood that Mr. J. Martin was acting on behalf of the Hew Zealand Steam Shipping Company, and Mr. O'Shea on Mr. Jackson’s behalf, Mr. James Smith being a “dark horse.” The result of the sale appeared to give general satisfaction to the large number of persons who attended, who testified to the fact by three cheers. ,