INFLATED LAND VALUES.

Taranaki Daily News, Volume LVII, Issue 245, 25 March 1915, Page 5

INFLATED LAND VALUES.

MAGISTRATE'S STRICTURES. "JUGGLING WITH FIGURES." By Telegraph.—Press Association. Auckland L,ast Night, Magistrate Kettle mado some vevv strong comments to-day in the' ease in which a land agent, Andrew McNeil, proceeded against a farmer, George' Fanner, for commission alleged to bo due in respect to an exchange of land. It was stated in evidence that the farmer put his property into McNe'is hands for sale at not less than £25 per acre, but McNeil was unable to effect a sale. He then found another landowner willing to exchange, whose farm was reputed to be worth £7 10s pejr acre. The two landowners agreed that for the purposes of the exchange their land should be valued at £35 and £9 lfis respectively, and an agreement was ratified accordingly. McNeil, however, claimed his 21 per cent, commission from Farmer at the price of £35 per acre, and Farmer refused to pay this, and wanted to pay on tlic l>asis of £25 per acre. Neither litigant could satisfactorily comply with the Magistrate's request for an expanation of the increased values, and the latter said that it was a case of "fictitious valuation." Then he proceeded: "What purpose is it put up for, excepting for swindling someone. It is high time this kind of thing was put a stop to. This is the worst, case of tlie kind I have seen. If it is true then the value of £35 per acre was a bogus one. If it was bogus then it must have been put on to deceive someone. It is time the Court spoke out about these cases." Counsel for defendant: I say my client was persuaded to put up the valuation to £35. Mr. Kettle: For what.object? Counsel: I don't know. Mr. Kettle: McNeil swears that the valuations are true ones as given by both parties. If the true value of the land was £35 per acre why should not defendant pay the commission upon that amount ? Having spoken out further, and described the transaction as "juggling with figures," Mr. Kettle reserved his decision.