RACE FOR AN OPTION.

Ashburton Guardian, Volume XLV, Issue 10167, 23 July 1924, Page 6

RACE FOR AN OPTION.

RIVAL SYNDICATES. GREYMOUTH, July 22. It has been known for some time that powerful business interests have been preparing to take over large areas of bush .in South Westland, and it is unnecessary to state that secrecy lias been preserved so far as possible with regard to the intentions of the rival syndicates. The return to Greymouth of the ketch Wakaiti, a small vessel of about 35 tons, engaged up tin recently in the coastal and fishing trade, was the first intimation to local residents that events had been moving quickly insofar as the timber industry was concerned, and it was learned from members of her crew, an emergency one, that she had been cnnra.rred in a race for an option ovei valuable areas of virgin bush at Jackson s Bay. .’ Commissioned at shore notice on July 10, the little vessel had conveyed Messrs E. Bundle and Wallis, prominent sawmillers, as passengers to the far south. Their rivals set off for the same destination in a motor-car, and there was soon in progress a race such as would delight a moving picture director. The Wakaiti developed engine trouble early, and her voyage to Jackson’s Bay was besetwith peril, as the elements were in their worst mood. Messrs Bundle and "Wallis had the satisfaction of being first on the spot, and now' have the rights over a magnificent belt of timber. The Wakaiti re-entered port yesterday after noon, rudderless and toweu by the Harbour Board’s tug, after a journey in which huge seas were encountered.