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Grey River Argus, 21 March 1947, Page 6

A wide disparity in the valuations placed on properties by valuers for the Crown and private valuers acting for vendors in transactions has been often apparent since the Land Sales Committees started to function. A remarkable difference was found in a case heard by the Auckland Urban Committee during the week. An insurance company (Mutual Life and Citizens Assurance Co., Ltd.) proposed to purchase premises in Queen Street owned and occupied by the Royal Insurance Co., Ltd., for £53,860. A valuer for the Crown appraised the property at £40,020, and a private valuation of £53,860 was submitted—• a difference of £13,840. The committee reserved its decision.