LAND FOR SETTLEMENTS.

Lyttelton Times, Volume CII, Issue 11948, 20 July 1899, Page 5

LAND FOR SETTLEMENTS.

THE ANNUAL REPORT

SUCCESSFUL OPERATIONS. [From Our Correspondent.] ’WELLINGTON, July 19.

The annual report on the Land for Settlements Act was presented to Parliament today. Mr James M’Kerrow, Land Purchase Inspector and Chairman of the Purchase Board, reports that fifty-one estates, of a total area of 554,682 acres, were offered during the year ending March 31, 1899. Of that urea, 47,192 acres were declined, not recommended or withdrawn, leaving 487,490 acres, of which an area of 271,905 acres is under consideration and an area of 215,5c0 acres was recommended for purchase. Including with this latter area part of the land offered in the previous year, tweutyfour estates were recommended for purchase, with the result that the offers Avere accepted for thirteen, of an aggregate area of 102,204 acres, for the sum of £582,115. The names .of the estates purchased are Karapiro, Willows, Mahora, Starborough, Richmond Brook, part of Plaxbourne, W aikakahi, Tamai, part of Elderslie, and certain Canterbury rural sections. The total purchases under the Act were sixty-two estates, of an area of 256,829 acres, a-t a cost of £1,250,647 for land and £53,862 for road formations, surveys and administration, I .n all a total of £1,304,509. The limit of appropriation fixed by statute, which expires on March 31, 1900, is £2,000,000. There is, therefore, a balance of £695,491 available for additional purchases up to that date, after which no neAV business can be entered on Avithout fresh legislation. Recent! A r several large estates have been offered which, if purchased, will, together Avith the price to be paid for the Hatuma Estate ard the offers to purchase noAV under consideration by several land-owners, if accepted, absorb the greater portion of the above sum. „ i j The report of the Surveyor-General sta.es that there have been fewer bat large.- estates dealt Avith during the year ended March 31 last than in the previous penca, the number for 1899 being seven, co.uamino- an area of 90,708 acres, Avhilst that ior 1898 was fourteen, of a total area of 58 691 acres. The area unselected at March 3l’ 1899, Avas 11.663 acres, but since .-.that date most of this land has been taken up. In addition to the foregoing figures there have been thirty-five selections in the estates acquired prior to March 01, 1898. the four estates at that date, Avhich shoAved the largest amount ol unselected land viz., Okauia, Pomahaka, Otahu, and Beaumont (total, 12,896 acres), 7592 acres have been selected during the year, Avluch, together with other selections, only leaves in the hands of the Government an area of 4759 acres. The forfeitures for non-compliance with the conditions of the leases, together with surrenders, amounted to thirty, the area so forfeited being 26.43 acres, let foi a rental of £463 9s 4d. Most of the forfeited sections have been relet. The arrears of rent amounted to £2938 which was oaaino- bv 134 lessees. On the estates there Avere 3077 persons residing, the number of houses being 813, w aist the value of toe improvements amounted to *,129,130■ 189d The lands disposed of are let at an annual rental of £57,747 and the lands unlot nrt> valued at a rental of £4503. It will tons be seen that if the whole of the lands were lot the rentals would bring m a return of 5.17 per cent on the capital invested in the estates that have been offered for selection. On the other hand, the rentals of land actually let are bringme m a return of £>4 per ' cent on the amount invested. As much of the land unlet at March 31 has since been disposed of, the rentals at the time of writing are actually bringing in over 5 per cent on the capital sunk in them. The sum actually payable for interest, calculated as for March 31, on toe money raised for the purchase of these estates was £42.497 5s 5d as against a rental of £57,747. The construction of the branch railway or tram lino to frive access to the lime-kilns on the Makaneo Estate is in hand by the Public Work« Department, and is approaching completion, whilst the work of building the kilns hag also been commenced. A sum of £4585 "'9s lOd had been expended in this Avork up to March 31. . . , The arrears of vent are attributed mainly to last year’s dry season, and are regarded as only*temporary.