PULP MILLS PROPERTY
Land Would Be Given Away (N.Z Press Association) HAMILTON, July 24 New Zealand Pulping Mills. Ltd., would probably give its property away if there were any takers. It would certainly offer it to the Crown at its value of £1.2 an acre. This was stated in evidence before the commission of inquiry into financing the lower Waikato river control scheme in Hamilton today. Representing the Mills, Mr G. W Wengdal said the property comprised 780 acres at Mangatawhiri. at a capital value of £930. The company had been fanned many years ago-to mill the flax in the swamps, but because of the failure of drains to function the flax had died The company was not carrying on busines. It paid at preent county and drainage rates of £7l 8s a year. These rates would increase to £629 if the lower Waikato river control scheme was carried out The property would get no benefit whatever, said Mr Wengdal. It was entirely uneconomic tor the owner to develop this land.
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Press, Volume CII, Issue 30192, 25 July 1963, Page 12
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171PULP MILLS PROPERTY Press, Volume CII, Issue 30192, 25 July 1963, Page 12
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