CROWN PURCHASE

Otago Daily Times, Issue 26640, 10 December 1947, Page 2

CROWN PURCHASE

PART OF MOERAKI ESTATE OWNERS CLAIM £30,000 A claim for compensation amounting to £31,344 by the estate of Thomas Morton Macaulay, concerning a block of land, formerly part of the Moeraki Estate, which has been purchased by the Crown, was heard by the Otago Land Sales Committ.ee yesterday. The application was opposed by the Crown, which considered that the basic value of the land and buildings was £18,749. After lengthy evidence had been heard, the committee—Messrs C, B. Barrowclough (chairman), D. J. Ross, and E. Smcock—adjourned till this morning. Mr W. S. Armitage appeared for the applicants and Mr J. R. Hampton for the Crown. The owners of the property had shown a willingness for the land to be made available for soldier settlement, Mr Armitage said. The Crown had preferred to have the compensation issue settled by the Land Sales Committee. Farmed by Land Company

" For many years the Macaulay block was farmed by the New Zealand and Australian Land Company as part of the Moeraki Estate,” Mr Armitage said. “ Because it was portion of the whole property, it is hard to give definite figures about what was done in the past.” Thej block was a freehold property with an area of 1227 acres, situated about 20 miles from Oamaru, about one mile from the main highway and from the Waianakarua railway station. The block had a good water supply. Counsel said that the Crown had taken over the property on March 28 of this year, and the lease was still alive. It was due to expire on June 18, 1948. Three chddren of Mrs J. Macaulay were trustees of the estate. Mr Armitage mentioned that current Government valuations of the block were: Capital value £19,045, unimproved £16,735, and improved £2310. The purchase price of the property on August 3, 1905, was £16,487 14s. The claim before the committee amounted to £30,547 for its basic and productive value, and the balance for special losses. 1 Farmer’s Evidence From long experience in the North Otago district as a farmer, stock agent, auctioneer, and land salesman, he had a reasonable knowledge of the possibilities of the returns from the properties in the district near the site of the Macaulay Estate, said William John Crawford, in evidence. Witness said he had recently made two inspections of the property. “ The property appears to be in good heart, and gives one the impression that it has not been overcropped,” Mr Crawford said. Witness submitted a budget which he had drawn up giving his ideas how the property could best be worked. He thought there were 850 acres of good wheat land. The property would make three good farms. The application of lime would improve production - considerably, he said. Hugh Armstrong Finch, of Waikouaiti, said he had managed the Moeraki Estate property for the New Zealand and Australian Land Company for 23 years, up to the time it was taken over by the Crown in March of this year. The Land Company had been growing wheat on the Moeraki Estate since about 1935. That had been done in rotation over the whole property, including Macaulay’s block. Witness reviewed the production output of the land block, remarking that a liming programme would improve the property.

Angus McMillan, of Herbert, said his own farm was near Macaulay's block, which he knew very well. “In my opinion, Macaulay’s block is an excellent block of country which would be worth £23 an acre,” witness. declared. ”By adopting farming methods different from those of the Land Company when it farmed, the property as part of a. large holding, Macaulay’s block can be improved considerably. Witness later said til6 estimate of £23 an acre was on a 1942 basis. Now, he would say that the value would be nearer £26. “ I have had occasion to inspect Macaulay s block for the owners in past years, and it is my opinion that it is one of the best blocks of land I know either in Canterbury Otago, or Southland/’ said James Winter, a farm valuer, of Dunedin. He submitted a budget, on which he was cross-examined at length by Mr Hamp-

™ e Lv, com ?? littee adjourned until this cabled W * lon Crown witnesses will be