ESTATE

Hokitika Guardian, 16 July 1940, Page 6

ESTATE

OF 9,.831 ACRES

(Per Press Association—Copyright)

HAMILTON, July 15

/( The sale of the Strathmore Estate —an area of 9.381 acres at Reporoa—-half-way between Rotorua., and Tauspo, to the • Government ;.(U at tiie 4 /anriual/ meeting^of’(share-' 'holders' p]f. t;he Finance .Corporation l of NeW •'Zealand,. Limited, Vin - liquidation) in' Hamilton'/ " Of, the area .mentioned, vdver'ff.QOO acres is in grass.

The Mr ? M. AE Shaw. Said the negotiations had/’bebn lengthy, but -the sale had.'been for cash and completion would take .place on November 1. The sale affected the land only, and the-,- plant ’and stock would be 'realised ijWthe- meantime.- It- was-j IoS> M-: ing !the yean; lia;d been' reduced by over £2,000. and that various sales of property other than Strathmore had taken placet. W-.V ' ." With the sale of Strathmore and the realisation of the plant and stock, the. liquidator said lie expected lo be in a position to repay the company’s indebtedness - pnder .--its--:-.:, dr.bcnttires '"preference shareholders their capital and nrmu\, of interest in full in November.

The price agreed to for the Strathmore EStftt-p..was not announced. Ft was hopeWTlriL'otv'wMie - final realisation/ the ordiivhrw'shareholders would receive their capital in full and also a share in the surplus profit. The meeting expressed its appreciation of the efforts of the liquidator mi developing the estate, and a motion thanking him and the adviserv committee was carried with acclamation.