THE LAND SALE.

Gisborne Standard and Cook County Gazette, Volume V, Issue 677, 27 October 1891, Page 2

THE LAND SALE.

Thebe was a great crowd of people at the sale yesterday at the City Rink, when Mr Akroyd, in conjunction with the New Zealand Loan and Mercantile Company, submitted to auction the properties mentioned elsewhere, being mainly lots taken over by the Estates Company from the N.Z. Native Land Settlement Company. Mr J. W. Bright, manager of the local branch of the Loan and Mercantile Company, ascended the rostrum a few minutes past 11, when he introduced the proceedings by saying that from the business-like array of faces before him he felt assured that they had carefully considered the position before coming there that day, and that they recognised there was to be offered some very valuable blocks of agricultural and pastoral land within easy distance from the port. Practically the whole of .the Government lands had been taken up where thej were situated within such easy distance, and with the hopes of pastoralists and the improved trade of late years, wool still maintaining its price, facilities at our doors for the freezing of meat, the prospects for a few years at least being such that he could have confidence in the bidding that day, and go on at onoe to read the conditions. Mr Bright then went on to read the conditions of sale and form of deed. This occupied twenty minutes, when Mr Akroyd, the other auctioneer, came forward. Mr Day, solicitor, rose, and announced that caveats had been lodged against Mofu No 1, Okahuatiu No 2, Tangihanga, Kaiparo, Pokowhai, Matawhero east and south, Mangahea

1, Mangatu 5 and 6, Pouawa a and b, Waimata North, Te Hapara, Whataupoko g and a. Mr W, S. Greene, native interpreter, also said he had been authorised to make a protest against the sale of Mangakoura No 1. Mr DeLautour, solicitor, said that in reference to this notice and protest, the manager of the Estates Company, who was present, wished it to be understood by all purchasers that there were no.grounds for them, and that the Estates Compamy would maintain It position as vendors. As to the purchasers, it was not required that anyone should buy a law suit. Anyone unable to obtain a title in a reasonable time would have a free

right to rescind the purchase, The bidding was then gone on with. Mr Percival Barker, after securing the six first lots, said that he would now leave it io the others. There was perceptible applause on Messrs Lardelli and Strachan securing lot 10, after spirited bidding. Lot 15 was the first one passed in, the reserve being a pound an acre, and then lot 10 followed suit. Coming to lot 17, the auctioneer stating they were now getting into better country, but the lot was passed in, the reserve being £1 7s 6d, Lot 18 had the same fate, the reserve being £1 7s 6d. There was a more spirited competition for lot 20, which eventually fell to Mr Warburton. For lot 22, only 28s was bid, the reserve being £2, and a pound was bid fqr the next section, the reserve being sB2 16s. Lot 2i went to Mr J. Dunlop at the upset price. The upset on the next was £2, but only £1 was bid, No offer was made for lot 20 at £2 an acre, nor for the next on which the reserve was £2 10s. Lot 28 ran up with spirit until it got to £2 ss, Mr Douglas beingthepurohaser. The auctioneer spoke highly of lot 29 as a riverside section about 2 miles from town, and it was started at £1 10s an acre. It quickly got to a pound more with small bids, but the reserve was £4, which the auctioneer said it was well worth, being all fenced in. The nest lot, Pakowhai, he described as the plum of the lot, and mentioned its many conveniences, saying that it wintered 6000 sheep, and at present it was running 9000 with lambs. With proper manrgement it should make one of the most valuable J runs in the district, there being good [ access to it all the year round, The

bidding was started at £3, and slackened at £3 10s, when the reserve of £3 12s 6d was announced, the purchaser having the right to take 4000 sheep at valuation. The extra half crown was not bid, and the lot had to be passed in. There was a reserve of 7s 6d on the Motu, but no bid was made. |Tangihangi was started at £l, and got 2s more, Mr Dobbie’s bid. That gentleman said he would give the reserve sixpence more. Waihora D started at £l, and by shilling bids got up to £2 10s, Mr J. Price being the purchaser. There was no bid for any of the Ohahuatiu sections, the upset being 17s. Mr Akroyd said he considered this the cheapest land of the lot, though the laud got a bad name because the Wairoa road ran through a bit of bad country—those who knew the land had a good opinion of it. The upset for Mangatu No 5 sections was 6s 9d. but no bid was made. The upset on Mangatu 6 was 7s 6d, the run adjoining Messrs M uir and Finlay’s property, which gave a good idea of what could be done with the land. No bid was made. The first section of Mangaheia caused spirited bidding, Mr McFarlane being successful. Lot 42 started with a bid of Bs, the upset being £l, which no one felt aisposed to give, though Mr McFarlane subsequently purchased. Lot 43 started at 16s, and got up to 31s, Mr ■R. J. Reynolds buying. There was at first no bid for 40, when it wag stated that the upset was £1 ; that was bid, and Mr McFarlane got the section by going a shilling better. There was the same reserve on the section In, which was described as the best section in the block, Fifteen shillings was bid to begin with, but the reserve was £l, which Mr P. Kenway bid. An adjournment was then made for lunch.

The last of the big blocks was put up to begin with, no bid being made. The upset was 7s 6d. The first of the small sections, with an unset of £lO, only had an offer of £5, the same being the case with the next two lots, Mr G. L. Sunderland in each case offering £5. Section 49 went for £B. All these sections are near the freezing works, and section 48 was later on put up and Mr Sunderland (for Nelson Bros) purchased at £9. Mr Sunderland said be would take the lot at that, but the offer was declined. Mendlesham was started at £l5, and got up to £2l/ the reserve being £22 10s. Some one wanted to know what they would do with the sorrel. Mr Q. L. Sunderland got section 1, Kaiparo, at £l4 an acre, and started the next with £lO, and after some spirited bidding he secured the section at £l9los. Following this with a hid of £7 for section 3 it got up to £9 lO<, when Mr Sunderland agreed to take it at the upset, £lO. Only £7 was. bid for the next, and it was passed in. The first section in Matawhero began at £l5, and slowly got up to £25, Mr Sunderland being again the purchaser. The next section began at the same, and cost Mr Sunderland a pound more. Section 4 went > Peka Kerekere at the upset, and his was the only bid for the next at the same price, £l2. No 5, at an upset of £9. failed to elicit a bid, though the property is near the Park, and no bid was given for section 2. The upset for section 3 was £lO, but there was no bid, nor for any of the other sections at £lO. Then came the Gisborne North sections, for the first of which the upset of £25 was not reached, nor for the one following. For the next £3O was asked without response. Mr Morell gave £BO for section 181. Mr E. F. Harris protested that the section had been advertised as a reserve at the last sale, The next three, at the upset of £3O, had no bid. Ten pounds were offered for section 40, but the upset was £l5, and the unset of the next was £l6—no purchaser. Section 41 started at the upset £22, and was given for £25 to Mr Kane, who also

secured the next at £24. Section 38 started at £2O and got to £B3, Mr Searle being the purchaser. Only £l5 was bid for 73, the reserve being £2O, and there was no bid for the next, the reserve being /’IS. Mr Hubble got 89 at /16 10s, and Mr Kane the next four at £23, £2l, £l5, and £2l respectively. The upset for section 1 of Block d was /"50 an acre, but there was no bid, nor for section 3 ‘at the same upset, nor for 07 at /15 an acre. The next section, lying behind Mr Akroyd’s place, was put up at £5O, with no response. Section 741 started with the upset of £45, apd went to Mr Clayton for a pound more. The reserve tor section 3 was £5O, which was not reached. Mr Harris again protested that be had paid £BO for other sections because this section had been marked a reserve, and he alluded to the transaction in strong terms. Mr Bright said his instructions were to sell. Lots 10Q,

! 101, and 102 did not reach the upset. , After Mr McLernon had purchased 1 lot 104, a Maori got up on a chair, ; and smilingly interrupted, and had ■ to be marched out by a policeman. Section 12 was at an upset of £7, but did not reach that. Mr Sievwright gave the upset for section 14, but the next seven were passed in, the upset being £7. Section 28 was at an upset of £B, and the bids only reached £f 10s, The remaining sections were put up by the liquidators of the Land Settlement Company. Sections 43 to 40 were put up in one lot, it being stated that the rental received was about / 70, but there wqa no offer for them. Messrs Nelson Bros, gat sections 51 to 50 at the upset price, Mr Little got section 84 at £6 15s, having been sold at the previous sale for £&—the reserve was £4, 10s. For the Hapara property (54 acres) on which the dwelling house stands, no offer was made. The terms were /"SOO cash, and the balance at 5 per cent. ' * In the table given herewith it will be noticed that the price is per acre except in regard to some of the small sections, and where no purchaser’s name appears after any lot it is one that was passed in. A remarkable thing about the sale was the confidence shown by local buyers, who were determined not to let outsiders have it much their own way. The i purchase money on the blocks sold I represents about £60,000. Herewith h ft table giring fun particulars.