The Wairarapa Daily WEDNESDAY, DECEMBER 18, 1889. The Masterton Town Land Leases.

Wairarapa Daily Times, Volume X, Issue 3389, 18 December 1889, Page 2

The Wairarapa Daily WEDNESDAY, DECEMBER 18, 1889. The Masterton Town Land Leases.

Some fourteen or fifteen years ago, when tho Trustees of the Masterton Town Lands let a considerable niiiubpr of allotments in this town, buildiugmtea were scarce; Iliero were but few freehold lots in the market, aiid leases consequently realised satisfactory values, (jiuco then numerous properties coming iuto the market, notably the Dixon estate, have tended to lower tho rate for business sites, pi l[ie opening of the railway increased tfjc value of scptjqns ju one part of tho borough and depreciated the price of them in others. It follow, therefore that the holders of tho louses from iho Town Lands Trust havo in some inatancps ipado good bargains and in others very bad qi)os, Two of tho latter, Mcsspi 'Juselberg and Cockburn, applied at tho late meeting of the Trust to be placet! on better terms, Tho proposals they made were from their point of view perfectly legitimate ami businesslike, but the rejection of thorn by the . trustees was also |)e|'fect|y legitimate and buaiiicssrlilte, In a 'small community liko this it frequently happens that a pressure is put upon, a local body to make concessions that ought not to bo granted, and in the present instance it is satisfactory to know ihat no attempt to exercise- any undue influence was mude, and that the applications were decided strictly on i their meritu, The ilecisioii of the ! Trustees practically determines not only theso cases, but many similar ones whioh ipay crop up from time to time, Thoy vory properly hold that a bargain it a bargain, and that a concession which involves a loss of revenue cannot be admitted, No doubt in tbS case of a private landlord some abatement would be made under circumstances liko those in which Mr Oaselberg is placed, but tho Trustees of a public estate cannot indulge in j that latitudo of dealing with tenants which would be proper in the case of a private individual, The lessees who have madj bt| bargains with tliv Trustees, or who' have ■ ;r,l|erited unsatisfactory sections from the original' lessees', mu;l bear their misfortuw «(J put jjji with tlioir

losses till the expiration of their respective terms, The episodo of : Monday' evening "lust may, perhaps, lend many pcoplo to believe that the Town lands Tvirt. rworves tiro .comparatively valui'lr-... ijome of j them may he so. hut iho bulk of them we'just the reverse, and when in a few yours time time the principal leases fall in, we inay expect to see the income of the Trust doubled and trebled in value, The endowment is one of great prospective value, and it is very gratifying to liiul that the Trustees of it have taken so firm a stand cn a point where iis interests mijlit liavo been jeopardised,

Tun time (or the distribution of these present* is limited, viz., from the present date to the end of the nnrthof December, 1880, at Te Aro House, WeHnigtqn. In the men's, hoys', aud youths' clothing department, purchasers may select their present from a choice assortment of tics, scurfs, shirts, hats, Ac., at To Avo House Wellington,—Aovr.