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monts could then be made repayable on an instalment system of interest and sinking fund, extending over 25-J- years for buildings and ten years for fencing, &c. The Land Board approve the suggestion that the instalments on buildings already erected on lands subdivided for settlement be repayable by a sinking fund repayable in 36J, years, instead of the present half-yearly instalments extending over periods up to twenty-one years. Surrendered properties : Under the present system it takes too long to deal with these farms, and in cases where the arrears on instalments and losses on current account are fairly large it is almost impossible to dispose of these properties and avoid some loss. In these cases it would be best to get two independent valuations made as soon as there is a prospect of abandonment, and take this as the selling-price of the farm, and, if possible, give the present tenant the advantage of any reduction in value. In the case of second mortgagees it would be necessary to sell through the Registrar. Reduction of capital value, remissions of rent, or reduction of instalment mortgages : The recommendation that in cases of this description the tenant who within a period of ten years disposes of his holding for a goodwill in excess of the actual value of all permanent improvements should pay 75 per cent, of this amount to the Crown is approved by the Land Board. Generally, the Land Board is of the opinion that the Inquiry Board have gone into the matter very thoroughly anel made an excellent report containing many valuable suggestions, but consider that the reductions of capital values recommended are far too large, and reduce the value of the land, in many cases, to the Government unimproved valuation. Robert H. Sadd, Commissioner of Crown Lands. The Under-Secretary for Lands, Wellington.

Southland. 27th March, 1923. Under cover of this memorandum I forward the report of the Board recently set up to inquire into certain phases of soldier-settlement in the Southland Land District. The report is addressed to the Hon. Minister of Lands. At a special meeting of the Land Board held this day for the purpose the report was duly considered. The Board members were under the impression that the proportion of failures is lower than would be found among civilians who have purchaseei farms eluring the boom years. The worst cases were discussed at length, and the Land Board derived much useful information of a eletailed character from Messrs. Milne and Lilico which will materially help in the action to be recommended as each case arises. The Land Board acquiesces in the recommendations of the Inquiry Board, and agrees with the views and statements set out in the report. R. S. Galbraith, Commissioner of Crown Lands. The Under-Secretary for Lands, Wellington.

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