ENDOWMENT LAND

Ashburton Guardian, Volume 55, Issue 245, 30 July 1935, Page 5

ENDOWMENT LAND

HEAVY ARREARS OF RENT.

(Per Press Association.)

CHRISTCHURCH, July 29. The heavy arrears of rent owing by tenants of Canterbury College endowments were referred to by the chaii - man of the College Council (Mr C. T. Aschman), at the meeting to-day. Mr Aschman said that the continued low prices for dairy produce and the very dry season had macU; things difficult for all farmers. The Council had been compelled to give sympathetic consideration to tenants and reductions in rent had been made. Payments due had been held over, and relief granted in other ways. In 1928 the unpaid rentals for all endowments amounted to £2460, whereas at the end of 1933 the amount (estimated) was £32,227. This year the amount in arrears had been reduced to £16,580, a decrease made partly by remissions made and to payments of rents outstanding. No doubt the total amount outstanding would be further reduced, but only undue optimism could hope that the whole would' be eventually recovered. However, the rentals paid in some cases’ could .be justified only Dy peak prices, and a readjustment had brought rentals down to the basis of the productive capacity, at which level they might be expected to remain stable.