FOR THE WINTERLESS NORTH

NZ Truth, Issue 1186, 23 August 1928, Page 16

FOR THE WINTERLESS NORTH

JJinanetal^evtews

North Auckland Land Development Corporation, Limited ATTRACTIVE AND SOUND PROPOSALS ■ \ ■ (By "Fiat Lux.") !. What does the future hold m store for the Winterless North? A Jem years ago it was a no man's land, known to few and dreaded by all who had to travel therein, by ivhom it was called "The Roadless North."

TO-DAY the mental attitude of people our glorious northern territory has changed entirely. Railway and road facilities have given the public .the opportunity of satisfying themselves upon all points concerning the much-maligned north, which has thoroughly vindicated itself,principally by reason of its very liberal productivity, including sub-tropical fruits, rhinerals — coal, lime-stone and various ores— timber, kauri gum, fat cattle and dairy produce. , Until a few years ago it was indeed a neglected territory, the lack of roads precluding the settlement of the valuable hinterland; the many beautiful and well-sheltered bays, particularly on the eastern coast, did, however, attract settlers, who used the only fOrm of transport available — sea carriage. Perhaps the splendid sea transport services provided for this earliest settled portion of the Dominion had a very great influence m retarding • the development of land transport' m this area. I Be that as it may, it is of comparatively recent years that land. traffic has been possible — and it has rightly been followed by a substantial iricrease m interest and closer settlement of the area. ■'■ ■*- Now come the proposals of the.North Auckland Land Development Corporation, Limited, which has purchased the property of the late George Riddell at Keri Keri, near hlsloric Russell, m the Bay of Islands. '' *" It is going to retain about a quarter of the property and cultivate it m Citrus trees, passion fruit 4 and affores(tation, and is putting the remainder on ithe market In about 20-acre blocks for closer settlement as citrus fruit farms. The property acquired consists of some 6817 acres of flats, merging into rolling .'slopes, with an exceptionally sunny aspect. It has a considerable frontage to the Keri Keri Inlet of the. Bay of islands. At the Keri Keri township there Is a good wharf and suitable facilities for loading c and unloading scows, there being a depth of nine feet of water at high tides. It is about 12 miles by launch from Russell and should find favor .as a base for the world-renowned sword fish and moko shark sport of Cape Brett, from which it' Is .about equi-distant with Russell. Of the 6817 acres acquired, the Corporation is" reserving for its own ,use 1600 acres. Of this area, 1000 are to be afforested; 200 acres will be planted with a variety of citrus trees; and 50 acres are to be devoted to the cultivation of passion fruit, which, should prove very profitable, while the remaining 350 acres are set aside as a site for the "Kerl .Kerl Garden City." In dealing with the remainder of , the property, the Corporation has introduced . what is not exactly novel m principle to New Zealand, but the details of application are decidedly so. It is clear that it is not merely going to sell the laftd, pocket Its profit and move on to . the next developmental sell 6 wis It is going to remain on the job, rendering expert service . and advice, and Is itself going to carry on the business of fruit-growing, etc, thus continuing to retain a big interest m bringing all the property into profitable production. Its detailed proposals m this connection include' sub-dividing the area of 5217 acres, which it intends to sell into small ai-eas of about 20 acres, the contour of the country being, the controllirig factor of the area;.' upon the area sold it is intended to establish, a group settlement composed of both overseas and Dominion settlers. The predominant and most attractive feature of the proposals is that the work of planting and cultivation shall be directed and supervised by a board of experts, specially appointed by the Corporation, so that people without any training whatever m this work can enter upon the land and be trained as the work proceeds under such supervisors. Then, m the case of absentee owners, whether resident m New Zealand or overseas, they can contract with the Corporation" to have plantations of citrus trees, together with shelter belts, planted, cultivated and maintained until they are ready to enter into personal possession. This seems to be an excellent plan and one which must appeal particularly to that wide circle of . official people m all parts of our far-flung' Empire, who, whilst holding their, official position, have substantial salaries, but who have to retire comparatively early m life on moderate pensions. They cannot 'continue to live m . their old surroundings on their pensions;: it simply«cannot be done, and, consequently, they must seek new homes, preferably m one of the many colonies. . Now, the scheme put forward by the North Auckland Land' Development Corporation, Limited, seems to "Fiat Lux" to be ideal for such people. At a very moderate cost, spread over several -years, they can acquire a ready-made citrus plantation, upon which— when the time comes for them to retire from their official positions — * they can build a home, finding pleasant and profitable employment m a most congenial and 'frost-free climate. . Right at their doors there' is the world's best big-game fishing. There is everything else that could reasonably: be desired to make a full and happy, life, and, withal, there is always the guiding hand of the expert m the technical side of their venture, whichTmust prove reasonably profitable. . The scheme, although mostly new to the Dominion, is not entirely original, as it has been m use m California for

Profitable Fruit

years past and has been eminently successful. When the scheme is sifted dbTVn, it means that the Corporation does all the work, with a highly-trained staff of experts, for those people who have the money to pay for it. Hence a group settlement is laid put for the benefit of people who want income-producing homes, even though they have no . technical knowledge of how to go about it, while the operating company gets its profit from the sales of land at the increment created, by closer settlement. To investors m shares of the North Auckland Land Development Corporatiori. Limited, all these points must be of intense interest, since the bulk of the share investors' return will come from the sale of sub-divisions. It is well to be able to sum up the prospects of quitting the sections—and to this writer these appear to be very bright indeed. Whilst the. Corporation looks forward to making a reasonable profit on the sale of sub -divisions, the bulk of its profits after the first four years are expected to be derived from the sales of passion and citrus fruits, but the whole of the estimates — which are furnished m most admirable detail for the first ten-year period — entirely disregard the 1000 acres of afforestation, which ultimately must prove extremely valuable. This portion of. the property can be looked upon as a steadily-increasing secret reserve, which later on will be brought into the accounts at its realized value. ■ , Fruit cases even now, with Jumber reasonably plentiful, are a very expensive item, but by the time the plantation matures, say, m 20 years' time, it is fair to assume that the price will be even higher. It is apparent that by this time the Corporation w il l have a steady arid regiijar market for their whole output of -timber, since the bulk of the property will then be m full bearing and will be calling for thousands of cases per annum. Quite apart from any profits arising f rorri the realization of the afforestation scheme, which must, m the .very nature of things, be long delayed, but which will be substantial Indeed when consummated, the sales of land and the working of the Corporation's own fruit-farming .undertaking should provide very satisfactory dividends for shareholders after the first year, risirig continuously as ' the crops become heavier. On the estimates given m the prospectus, the company should be able to pay a regular IS per cent, dividend, and, :ln addition, build up very substantial reserves. The company's estimates of revenue to be derived from its fruit"■farm|ng operations are endorsed by E. Tosler and G. E. A.derton, The former is a grower m the district with years of practical experience to his oredlt, and he states that the company's estimates of revenue are well within the sphere of practical fruit-fapming, given proper management as to cultivation, maintenance arid pruning. He goes on to state that a ten-years-oid lemon tree, properly treated, should produce £4 of fruit per annum, but the Corporation's estimates are wisely framed bri a very much lower basis. G. E. Aldertori, the author of "Orange Culture," which is published by the New Zealand Government, also considers the Corporation's estimates of fruit revenue Vvery conservative." Seeing that Alderton started the first orangery m the" north at Wharigarei many years ago, and also started the first commercial vineyard, he should be well-qualifledvto express ah opiniori. He has also supplied the Government with reports upon prange culture m New South Wales and upon the fruit industry m the United States. Frdm the point of view : of investors m the Corporation's shares, the prti- : - ■ ■,__ . ■ : " posais seem sound and attractive, and, given good management, should prove highly profitable. From the point of view of purchasers of sections m the block, the Corporation has made the proposition very attractive, particularly for those already possessing a small* Income. Taking the third point of view — that is, the national one-^'Fiat Lux" feels that the proposals are worthy of all the support which can possibly be extended thehi. Increased population, suitably and profitably employed m either primary or secondary industries, Is what New Zealand urgently requires. . The proposals of this Corporation seem especially designed to attract to these shores the right class of peo pier—that is, those who will immediately become producers of their own efforts and not people who come here looking for jobs m the cities. It is a forward move for the national welfare arid "Flat Luis" wishes it that; success which the merits of the proposition undoubtedly warrant. ==

Investors' Return

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