LAND DEAL.

Hawera Star, Volume XLVIII, 26 August 1924, Page 3

LAND DEAL.

AIcDONALD-BROAYN CASE

THE HEARING COAIPLETED

DECISION RESERVED.

Decision was reserved by the Chief Justice (Sir Robert Stout) on the completion of the hearing at New .Plymouth. yesterday of the action in which Michael AlcDonald, farmer, Stratford, asked the court to issue an order compelling Neil Alexander Brown, of Buckland, Auckland, to register an agreement for the reduction of a second mortgage on a farm at Pukengahu or for £3300 damages. Brown counterclaimed, asking the court to rescind the agreement and award him £2200 damages, on the grounds that the agreement had been obtained by misrepresentation of AlcDonald’s financial position.

Leave to amend the claim with respect to the damages asked for from £3300 to the amount of the principal with interest involved was given to Mr. C. H. G’roker, who, with Air. A. Coleman, appeared for AlcDonald. His Honor remarked, when the request was made, that the claim for £3300 was fantastic.

Evidence as to the value of the land was given by Air. J. B. Richards, who said that if there had been a forced sale in 1922 the land would not have brought more than £9 or £lO per acre, and if it liad been put up to auction it would not have obtained a bid. There was now a better tone iff ’the land market, and to an ordinary working farmer the land at present was worth about £lB per acre. He did not think it was suitable country for dairying purposes. These observations applied to the block of land including Christoffel’s and Brown’s. The 190 acres which were Brown’s, but which the witness had not specifically inspected, he thought would be worth roughly about £23 an acre.

Cross-examined by Air. L. AI Aloss (for Brown), Richards said he had not valued the land in 1922. Any man who made ends meet m 1922 was doing exceedingly well. . ° Air. Croker: That is as a farmer — not irrespective of any other interests? AVitness: I don’t think any farmer at that time was making ends meet if everything was taken into account. Any man who made ends meet was doing very well.

Samuel Blake, Hawera, said that even if the farm was offered on very easy terms, at the present time it would not bring more than £27 an acre. He did not think the farm ..was suitable tor dairying, and expressed the opinion that if it was so used it would be good sheep country spoiled. 'L L Q u in, Eltham, said he valued fhe 190 acre block at £26 an acre on August 13 last.

Recalled, J. B. Richards said, with reference to other properties shown ivi AlcDonald’s balance-sheet, that with the moregages on them there would have been no chance of raising money on them in 1922.

Counsel then addressed the court, alter which his Honor intimated that lie would reserve his decision.—News.