MOERAKI ESTATE

Otago Daily Times, Issue 26629, 27 November 1947, Page 2

MOERAKI ESTATE

CLAIM FOR COMPENSATION COMMITTEE RESERVES DECISION The case in which the New Zealand and Australian Land Company claimed the sum of £34,541 compensation for the acquisition by the Government of the Moeraki Estate of 1746 acres freehold, and 200 acres leasehold, for the purpose of the settlement of returned servicemen, was continued before the Otago Land Sales Committee yesterday. After hearing evidence by two Crown valuers and submissions by counsel, the committee reserved its decision. Mr A. N. Haggitt, who appeared for the applicant company, contended that the price asked had been more than substantiated by the evidence. “ Not one of the witnesses," he said, “ had the slightest financial interest in the property, because it is owned outside of the Dominion. On the other side, evidence was given by two Crown valuers, both reputable men, but being Crown valuers they had an interest in the matter.” Mr J. R. Hampton, for the Crown, said that the amount claimed for compensation was too high by at least £BOOO. Witnesses for the company considered that the property would carry, 2500 ewes, but Mr Hampton expressed the opinion that such a figure had not been substantiated. In view of the Land Sales Court’s decision in the Moa Flat case, he thought the committee would agree that the amount allowed for management was too low. He also thought that the company’s witnesses had been too optimistic in their estimates about the area that could be sown profitably in wheat.