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The station has proved itself as an economic holding and, but for the unfortunate depredations of fire and drought during the summer months, would have been firmly established as a successful farming concern The carrying-capacity is 2,000 sheep and 450 cattle. Net wool receipts during the past year were £7lO from 41 bales. Tawanui Station This property, being Section 4, Block 111, Maungamangero Survey District, contains 9'16 acres of Crown leasehold in perpetuity and was acquired by the Native Trustee as mortgagee in 1931. It, is situated near Ngapaenga, thirty miles from Te Kuiti. This property is minerally deficient, necessitating regular applications. of cobaltized superphosphate as top-dressing, and owing to the restricted quota of fertilizer rotational grazing of all stock through top-dressed paddocks is essential. Situated, as it is at a fairly high altitude and surrounded by high lands, the area has a high rainfall and suffered no ill effect from the dry spell. Live-stock is improving and the percentage of fat lambs is increasing annually. Tawhiti Station Tawhiti Station covers 4,021 acres of hill country on a peninsula a few miles north of Tokomaru Bay in "Waiapu County. The actual good grazing area is only about 2,280 acres and the bulk of this is of poor quality, due to past mismanagement. Stock losses in the past few years have been heavy and have precluded any improvement in the station's finances. A European manager has recently been appointed, and there is. every indication that with the necessary energetic handling this station's account may be placed in a better position. The stock carried is 2,053 sheep and 292 cattle and the wool clip this year was 51 bales. No station in the district causes more concern than does this one. Of very rugged contour and containing one-third of sub-marginal land, it has proved very hard to work and has failed to carry stock numbers comparable with its size. Reversion to scrub is prolific and insufficient stock can be carried to offset this tendency. Subdivisional fencing is pushed on with as far as labour is available, and progress was attained when an unfenced portion of the boundary of some two miles length was completed. Stock losses were severe, partly from drought conditions and partly from the nature and location of the property. Cull stock showed the effects of drought and produced prices which could be expected in an unusually poor market, Tiratu Station This property is located about four miles from Dannevirke and comprises ♦733 acres of easy-lying country very well placed, for fat-lamb raising. It is the Manawatu No. 4d Block and was mortgaged to the Native Trustee, but as the condition of the security was rapidly deteriorating the control and management of same was vested in the Native Trustee in terms of section 25 of the Native Trustee Act, 1930. "When taken over the land had deteriorated, the pastures run out, no ploughing had been done, nor had the land been top-dressed. During the past year most of the work done was maintenance, including the repairing of 307 chains of fencing; 30 acres were sown in grass with rape, and this fattened some 700 lambs, while a further 20 acres were cleared of stumps.

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