SUBURBAN LANDS.

Evening Post, Volume LXXIV, Issue 24, 27 July 1907, Page 5

SUBURBAN LANDS.

A NOTE OF WARNING. An impression Drivately prevailing for some time past in some quarlers was crystallised in words at last night's meeting of tho Wellington Investment, Trustee, and Agency Company, when the chairman (Mr. J. R. Blair) uttered a •warning concerning suburban land 'values in Wellington. A great deal might be said about land values generally, he remarked, but he realised that his auditors ■were." probably as conversant with that • subject as he was. He was pleased to 'say that there had been no bad debts made by their company during the year, and that the amounts of interest owing amounted to less than one. peT cent. Tho directors had been cautious in their advances, and they had pursued a» policy initiated long ago of avoiding suburban land risks- Those advances upon such lands which wero on the books of the company were made some time before ■ the land boom took place, and there was considerable margin in the cover for them on present values But he thought the time had now arrived when it would bo incumbent upon the directors of the company to be extremely careful in the class of risks they took, for it was probably the case that the limit had been reached, and that values would decline. Thesk were matters to he kept in remembrance ; it behoved tuem all to be very careful.