Assets Realisation Board.
Unite! Press Association—Ry Eleotrio Telegraph
Wellington, July 1
The report and balance sheet of the Assetß Realisation Board for the year ended 31st March last, show that taking into account the statutory £50,000 received from the Bank of New Zealand, the surplus for the year, after providing for debenture interest, amounts to £21,550 to which must boaddfidthe Bank's surplus profits paid, over, £125,532. Sales of properties to the extent of £113,787 were made during the year. The demand for land was steadily increasing, while the markets for all description of stock and produce were especially good. A feature of this years realisation was the Selwyn Estate of 159,328 acres, which was sold by liquidation to the Government at 8s an aero which was declared to be an undoubtedly good bargain for the State. " Notwithstanding," says the general manager, "thit our object is less to extract the last penny of the profit than to hold in the best condition for sale, our profit has been very substantial."
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Ashburton Guardian, Ashburton Guardian, Volume XXII, Issue 6617, 10 July 1905
Assets Realisation Board. Ashburton Guardian, Volume XXII, Issue 6617, 10 July 1905
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