A STAGNANT MARKET.
LAND AUCTION FIASCO. (By Telegraph.—Own Correspondent.) PALMERSTOX NORTH, this day. The biggest land auction in Manawatu for a considerable time was held to-day, but resulted in a fiasco. The property offered was tlie Glen Oroua estate of the late Mr. Saunders, who was recognised throughout the Dominion as a leading pastoralist. The estate comprised 1914 acres, and was offered in lots of 10-tU and 308 acres. Though ~>o people were present, including prominent farmers, no bid was made for the first lot, which carries the homestead. For the smaller offering there was a solitary bid of £-'■> an acre, but the trustees' reserve was naturally above this. It was announced that both areas were available for private negotiation. The va.nation of the estate, which is 10 miles from Palmerston North, has been disputed. but is understood to be in the vicinity of £100.000.
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https://paperspast.natlib.govt.nz/newspapers/AS19370130.2.11
Bibliographic details
Auckland Star, Volume LXVIII, Issue 25, 30 January 1937, Page 3
Word Count
145A STAGNANT MARKET. Auckland Star, Volume LXVIII, Issue 25, 30 January 1937, Page 3
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