STATION PROPERTY.

Tuapeka Times, Volume V, Issue 262, 6 February 1873, Page 5

STATION PROPERTY.

Driver, Stewart and Co., on the 29th ult., offered by public auction, at their wool stores, on account of Messrs Dalgety, Nichols and Co., the whole of their station properties, consisting of Rugged Ridges, 60.000 acres, with 30,000 sheep ; Spylaw, 30,000 acres, with 23 000 sheep ; YVest Dome and Wyndley, 77,000 acres, with 23,000 sheep ; Eyre Creek, 37,000 acres leasehold and 5,100 freehold, with 23,000 sheep ; and Wairaki, 67,000 acres, with 18,000 sheep. The attendance was larger than we have ever witnessed at similar sales, including squatters, bankers, merchants and others, many of whom were buyers, but strange to say not one of the properties was sold under the hammer, although the vendors' reserves were so moderate that we, immediately after the closo of the sale, disposed of West Dome and Wyndley to the Hon. Ro'.ert Campbell for £16,000, being £2,000 in excess of the auction reserve, and £500 has since been offered Mr. Campbell on his purchase ; also Wairaki to the same gentleman for £13,750, this price also being considerably over the auction reserve ; alao Spylaw to Mr. P. Roberts, nf Kuiiwao, for £16,500, which was £500 over auction reserve. And we may mention that we are in treaty for the sale of Rugged Ridges and Eyre Creek, and both of these properties will, without doubt, change hands within twenty-four hours. Mr. Milner sold on Monday, the 3rd February, the following property : — Hun No. 328, situated on tha Waikaia River, contains 35,800 acres, about 3000 acres of which are agricultural land, about 5000 acrea are bush, the rest is rough hilly country ; the rental will be an assessment on not less than 8500 sheep ; the lease will commence on the 25th February, 1874, when the balance of the first year'a assessment will be payable — was purchased by Mr. John Wright, for .Mrs. Gow's trustees, for a premium of £2550, and the rent from the 26th February, 1874, to the Ist October, 1874, £146 16s. Tha next Run No, 359, situated at Nokomai, at the head of the Nevis, contains 15,000 acres ; it is composed principally of rongh country ; the rental will be 7 J per head on 3750 sheep ; the lease will commence on the 3rd day of February, 1873. This was bought by Mr. W. S. Trotter, for a premium of £35, and the assessment, from date to the Ist October, 1874, of £71 13s. Run No. 432, situate at the head of the Nevis River, at Nokomai, containing 9500 acres rough pastoral country. The lease will commence on the date of sale, and the rent will be an assessment of 7d per head on not less than* 1000 sheep, that being the minimum number the run i 3 estimated to carry, was purchased by Mr. D. A. Cameron for a premium of £410, the assessment from date to the Ist October next being £19 2s.

The facts with reference to the dispute between France and Greece in regard to the Lanrinm silver mines, of which mention was made in our English telegrams, are thus summarised by the " New Zealand Herald" :—": — " Some time since, a Frenchman and an Italian discovered that these old historical mines had not been exhausted, and they purchased them from the Greek Government for 10,800 francs. The mines turned out to be very profitable, and their development laid, the foundation of Greek prosperity. " From Lauriura " ("we are told) '' spread ships, roads, and every avenue of labor and trade." The ministers of King George envied the fortunate speculators, and made an exorbitant claim upon them for royalty, ♦esides two million francs back payment on the same illegal basis. The demand was resisted, and the diplomatic agents of France and Italy interfered. But evil days fell upon Franca, and even Greece could afford to disregard the representations of the accredited agent of the once potent Empire. Italy, at the same time, had her own hands full between the Pope and the Italian democracy ; so the company thought it best to submit a proposal to the Greeks for purchasing their right to the mines. They asked fourteen millions sterling, which was agreed to, subject to legislative sanction. But the Greek Assembly refused its sanction, and the minister resigned. The new minister offered to submit the matter in dispute to the judges ; but as there was no question of law to determine, thit overture was rejected by the company. Meanwhile, France had recovered iWm her prostration, and Home- » is bow the capital of the Italian Kingdom. Steps are being taken therefore to compel the Greeks to practise a little commercial morality; and the presence of French and Italian squadnvns in the 'Piraeus will go far towards effecting the desired end. England and Russia have advised their Greek ally to submit to the inexorable decree of Fate, aa interpreted by French and Italian gims ; and if Greece is prudent it will accept the advice and act upon it.