LAND FOR SETTLEMENTS.

Lyttelton Times, Volume CXX, Issue 15124, 13 October 1909, Page 9

LAND FOR SETTLEMENTS.

ANNUAL REPORT. [From Ovb Correspondent.J WELLINGTON, October' 12. The year began with negotiations for the purchase of six estates, states tho annual departmental report of the Land Purchase Inspector. Of these, five were completed, and the purchase of one abandoned. Tho five new estates, together with small areas added to previously acquired estates, aggregated 73,156 acres, for which £339,030 was paid, besides £42,795 expended on roads, workers' dwellings, etc. The estates purchased were in Wellington, Nelson., Canterbury and Otiigo. During the .year 121 estates, of 772,14-1 acres in all, were offered to tho Government. Since March 31, agreements have been made for the purchase of three other estates, containing 27,180 acres, at a cost of about £176,246. Excluding these last, 187 estates, comprising 1,195,291 acres, have been acquired, at a prime cost of £5,146,999, since the Act came into operation. The income for the year was £250.623, and the expenditure in interest was £215,823, leaving a credit for the year of £34,795. A new item of revenue appears in the accounts. Holders of leases-in-perpetuity may now convert their leaseholds into freeholds, at a value agreed on, and £12,182 was paid into tho Land for Settlements Account iu 1908-09. There is also £2467 in the account duo to holders of renewable, leases who have taken advantage of tho option of paying up to 90 per cent of the capital value of their leaseholds, and so obtaining a relative reduction in rent. The area opened for selection for tho lirst time was 71,219 acres. The area selected during the year was 81,909 acres, and there was an increase of 200 tenants of rural lands. The total area leased is 1,053,640 acres, occupied by 4417 tenants. There are also 72 tenants occupying workers' dwellings. Under the Land for Settlements Act tho area unlet was (at March 31) 141,618 acres, its estimated rental being £9746. At the end of the year the rents collected came to £237,831, or about 4J per cent of the capital cost. In tho Auckland district the returns are equal to 4.24 per cent, Hawke's' Bay 4,06, Taranaki 4.11, Wollinrton 3.92. Nelson' 4.5, Marlborough 4.61. Canterbury 4,39, West-land 3.92. Otago 4.21, Southland 4.5.