TAUMARUNUI'S TENURE.
THE FREEHOLD DESIRED. By Telegraph— Press Association. Tarmaranui, March 15. An error in the transmission of a telegram read that Taumarnnui borough was raising a loan of £SOOO. It should have read "£51j000." The freeholding of the town is a burning question still both here' and at To Kuiti. Judge McCormick, in advising the natives to sell the whole township to the Government, said the rents were so small that the money was absorbed by taxes, rates and other expenses, and for the remaining ten years of the first term of the leases the Natives would be losing money instead of having an income. The Government valuation of the Natives' interest of nnimproved value in 1017 was £70,000 for the whole town, but the Government would have to allow for a loss in the difference between the rents and interest on capital invested, and would ,irobably not pay full Government valuation. If the Natives got anything like £70,000 to invest they would be in a good position. The Government need not pay out in cash. The Native Land Board would doubtless accept 4% per cent, bonds on behalf of the Natives, and this would prevent them from wasting the capital.
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Taranaki Daily News, 18 March 1919, Page 8
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202TAUMARUNUI'S TENURE. Taranaki Daily News, 18 March 1919, Page 8
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