A PROFIT OF £70,000.

Pukekohe & Waiuku Times, Volume 8, Issue 472, 14 October 1919, Page 2

A PROFIT OF £70,000.

On a War Period Land Deal.

In the Legislative Council debate upon the Discharged Soldiers' Settlement Loans Bill, the Hon W. J. Geddis gave ''an example of profiteering in land." He said that during the war period a man with a considerable amount of money acquired an estate not | many miles from Napier He recently conceived the idea of cutting up the estate. He cut it up, and pocketed a profit of 170,000. "The point that concerns me moat, and, I think concerns this country a great deal," said Mr Geddis, "is that some of the people who bought the land were returned soldiers. I put it to the Council whether it was right for that man who pocketed the £70,000 profit to load each of those sections with unearned increment, seeing that the people who were taking the land were men who had been away serving their country." Mr Geddis explained later that the land in question was not purchased by the GovernmentDominion.