LAND SALE.

Temuka Leader, Issue 2349, 28 April 1892, Page 4

LAND SALE.

Messrs Guinness and LeCren on last | Tuesday held a large land sale for the Bank ? of New Zealand Estates Company in the | Assembly Booms, Timaru. Tnere was a large attendance of buyers, and the Riverslea Estate brought splendid prices, but it was all bought by local farmers residing on the adjoining holdings. The conditions of the sale were 15 per cent, of the purchase money on the fall of the hammer, the balance to be paid as follows; —10 per cent, in April 1893, and 75 per cent, in April 1897. interest to be charged at the rate of 6 per | cent., but the purchaser could pay all at any time on giving three months notice. The lobs being considered too small every two of taem were grouped together, and this gave dissatisfaction, some people protesting against it. Mr Guinness, who officiated as auctioneer in a most efficient manner, explained that it was originally intended that lots should go together, and that it was a mistake that they were advertised separately. An excellent lunch having been disposed of the sale proceeded. Mr Guinness made a telling speech, dwelling on the richness of the Riverslea Estate, and the liberal conditions on which the properties were offered, and promised that there would be no “ trotting,” or fictitious bidding. The result of the sale was as follows : Riverslea, A start was made with the Riverslea estate at lot 23, 112 a2r lOp. The first bid .—and the last —was £lO, and after a twominute pause for other bids, at that figure the lot was knocked down to Mr Austin. Lot 22—00 acres—started at £lO, and by 10s bids quickly ran up to £l6, and then a dead stop came at this bid of Mr Austin. L0t22198. jl— l9B.j acres shingle land—started at £l. 2s Od bids were taken in this case. Only one more bid was given, and at 22s 6d this lot was passed in. Lot 20—20 acres in its natural state, started at £2 and was passed in at £3. Lot 19—226 acres, next the sea—started at £l, ran up quickly to £B, more slowly another £1 was got, and at £9 Mr Robert Taylor became the buyer. . Lot 18—131 a. lr. 26p., about half in turnips—waited some time for an offer. £5 was presently offered, and no more coming the lot was passed. _ Lot 17—349 acres, more than half in turnips, the rest in tussock, fronting on the Orari.—No offer. . Lot 16—67 a. lr. 20p., between Oran and the sea, in English grass. After a time £2 was offered, and the lot was passed. Lot I— Stockyard paddock, 203 a. Or. 16p. Offers came very slowly. A start was made at £7, and a sale at £9, this being Mr Bisset’s bid. . L o t 5—148 acres—This was at once started at £ls and soon run up to £2O (a lump from £l7). Ten shilling bids came in steady succession till £25 10s closed fane competition, and Mr Jos. Guild became owner of the lot. , „„ n Lot 4—104 a. Or. 38p— started at £2O, and was sold at £25 to Mr Guild. Lots 3 and G—9 Ba. 3r. and oa. 2r. 12p. the latter a plantation. The first offer came slowly but £l2 was offered, soon £2O was reached, and at £2O 10a the lot was knocked tflown to IMr Guild. d Lots 7 and 8-39 a 2r 3Sp and 09a, 2r 28p, fronting Ohapi Creek—started at £10; £l2, and £l3 came rapidly. Then bids came slowly to £ls, at which price the lots were and 10—136 a2r 28p—started at £ls Bidding dragged a little, but £lB 10s was reached, and at this figure the lots were sold to Mr J. Wareing. Lots 11 and 12—109 alr 30p, half stubbL und half grass—were started at .Mo. Lias came freely, and at £22 J 0s Messrs Matthews and Tresize were declared the buyers. Lot 15 —168 a 3r 16p, the homestead, o 0 acres in turnips, the rest in Cape barley. The first bid was £lB, the second £M. ien shilling bids chased each other up to£23 10s, and then came more slowly to £-5, when Mr Ackroyd was declared the buyer Lots 13 and 14—76 a2r 25p, adjoining tne homestead—started at nuicklv run up to £2O. Another 10s bid gave the lots to Messrs Matthews and T Lot e 2-271a Jr 19p. with woolshed This hung fire altogether for some time, and it was about to be passed when £lO was offered. Other bids then came and a £ls 10s the lot was sold to Mr McLeod. The lease of the High Schoolrescrve 399 acres—was next put up. £oo was the first offer for the goodwill, and by £1 bids it was run up to £9O, and then £lO bids were given to £l9O. The bids then dropped to £5 and £l, and at £204 Mr W. MoOuily was declared the buyer. Education reserve 939—1192 acres—was the next lot.—No offer. ' . The total amount realised for the Riverslea secticms (1720 acres) sold was £29,431, besides £204 for the school reserve. Abowhenua. The Arowhenua estate was then dealt with, m the following order, and with the results stated: — , Lot 20—100 acres, with a house—No offer. . Lots 18 and 19—180 acres—No offer. Lot 51—360 acres—The first offer came slowly, £6, and slow bidding raised the offers to £7 10s, at which price the lot was passed in. Lot 14.—149 a. 35p. The first and last offer of £6, from Mr Pye, secured this. Lot 17—170 a. 3r. 18p—No offer. Lot 12 190 a. 2r 33p.—No offer. Lot 15.— 393a.—N0 offer. Lot 6.—445a.—N0 offer. Lot 7.—504a.—N0 offer. Lot 8.—378a.—N0 offer. Lot22 20 a first bid of £1 was not exceeded, and the lot was passed. Lot S3 —5 acres, near the Kakahu township —No offer. The auctioneer stated that the sale could not be proceeded with. The upper half of the estate not being sold the lower halt must be kept to svork the upper. The sections now withdrawn in Riverslea and Arowhenua were open for sale by private treaty. , . , Mr Guinness conducted the sale m good style quick to catch a nod or a wink, and not “dwelling ” too long over slow business. Other Sales. Two other properties were afterwards put up Mr W. Oldfield’s farm, 200 acres, on the bank of the Opihi, between Arowhenua and Pleasant Point, but obtained no offer. .Messrs Mundell and Maclean then offere 1 in four lots, Seaforth farm, near Washdyke, 670 acres, occupied by Mr T. Mitchell for years past, with good improvements, the land in good condition, and in a very good position. Lot 1—207 acres, in four paddocks—after a long delay was started at £l2. Slow bids raised the price to £ls, which was not up to owner’s reserves, and the lot was passed. Lot 2 was bid up to £ls 15s and withdrawn, and the obher two lots were not put up. —-