MORTGAGE AND VALUES

Sun (Auckland), Volume I, Issue 297, 7 March 1928, Page 9

MORTGAGE AND VALUES

MR. RANSOM’S BUSINESS AIRED A PURCHASER’S LETTER Press Association. DANNEVIRKE, To-day. Reverting to the recent controversy between the Minister of Lands and Mr. E. A. Ransom, M.P. for Pahiatua. on the matter of soldier settlement, Mr. James Gray writes to the “Evening News” concerning the statement made by Mr. Ransom that the land he (Mr. Ransom) offered to the Government was situated at Rua Roa, and consisted of 55 acres of well-improved land, and he subsequently sold 25 acres of this holding at £52 10s an acre, and the owner is well satisfied with his bargain. The balance of 401 acres is still his own, and it is a very good holding at the price at which it was offered to the Crown.

Mr. Gray says: “This statement is misleading, as no actual sale took place. Mr. Ransom, owing to financial reasons, made an adjustment in connection with a property that he purchased from me at Akitio. It suited my convenience to make an adjustment, or I would not otherwise have considered it for the Rua Roa property. Mr. Ransom would lead the public to believe that he still holds 401 acres, which he values cit the price of the adjustment. This is only a part of the truth. Mr. Ransom certainly still holds a title to this property, blit retains it for reasons best known to himself under a mortgage to me that makes him merely the nominal owner. “I regret that my private affairs should be dragged into the controversy over land, but 1 have no option, as Mr. Ransom has put his political interests above the proper statement of facts. Mr. Ransom had no authority from me tc state that I was well satisfied with my bargain.”