£66,000 AWARDED

Gisborne Herald, Volume LXXIV, Issue 22320, 3 May 1947, Page 6

£66,000 AWARDED

SETTLEMENT LAND COMPENSATION FIXED EDGECUMBE DAIRY FARMS By the award of the Land Sales Court presided over by Mr. Justice Archer, compensation to the total amount of £65 991 has been assessed against the Crown in respect of the Holdsworth property at Edgecumbe, near Whakatane, which has been taken over b\ the Minister of Lands for servicemen's settlement. The award covers an area of 1325 acres of what formerly was the Rar.gitaiki swamp, which has been under development by the Holdsworth family for nearly 30 years. The acquisition of the Land by the Crown was subject lo compensation to be fixed by the Land Sales Court, and tne former proprietors, B. J. Holdsworth, C. G Holdsworth and M. A. Koldswortn. claimed the sum of £97,859. Messrs W. J. Sim, K.C.. and R F. Gambriii represented• the claimants, and the Crown was represented by Messrs. Barnett and R. Kay. With Mr Justice Archer on the Bench were Messrs. W Stewart and W. E. Scott. It was shown in the hearing that the property was divided into seven fullydeveloped dairy farms supporting 72 peopie, and that during the period in which it had been in me possession oi the Hoidsworth tamily most of the profits had been expended in bringing til 3 land and improvements to thenpresent highly-developed state. The claimants based their case on records oi returns from 10 years’ working ol the property and produced evidence that 10U0 cows could be milked there with an average annual production o. 230 in of butterfat. including allowance for the necessary proportion of dry stock. The Crown counter-ollered £58.344 tor the property, and in the hearing argued tnat if would support a smaller number of dairy cattle than was suggested by the claimants, with an additional allowance to be made for dry cows. The award of ihe court represents an over-ail value oi just under £SO per acre.