MOKAU LAND TRANSACTIONS.

Nelson Evening Mail, Volume XLVI, Issue XLVI, 20 October 1911, Page 5

MOKAU LAND TRANSACTIONS.

REPORT OF THE PARMAMESJTARY COMMITTEE. - {United Press Association.) WELLINGTON, Thurs. The rapoit on the inquiry' regarding? th& transaction© of the Government ini connection with thej Moka,u arid Molria--katino blocks was presented by the Chairman of the' Native Affairs Committee: this - afternoon. The Committee 'prefaced its report with, a summary of the statement made in the' House some/ weeks ago by Sir James Carroll, thou adting-Prime Minister; andi the statement made by Mi*. Massey at th,e opening of the inquiry. The Committee 'i ound that .the statement of Sir Jame« 'Carroll correctly set ° out the facte _ reiating to the Government's associations with the. transaction. Mr: Mlassey's} statement correctly set out t«he facte r© 1 If erred to by him, and in. agreement with, the statement of the Government except a® to three minor matters—-(1) He suggested flxalt itihe -limitation of the provi- ; sdons of the , Native Land Ac* were aVe>id'od by the issue of an Order-in-Cauncil", whereas in fact the Order-in- 1 Council was issued in accordance with, such limitation provisions; (2) the. statement to the effect that a. meeting of Native owners was not properly representativ.e was disproved; (3) the statement to the effect that a company or members of a oomipany will possess practically ai monopoly of the coal bearing areas on; ibhei west" coast of the Taranaki provincial >di strict was disproved. Tihie only additional l factsi which .'the (Committee deerns it necessary rto refer vto, the report continues, ar<? that the lessee finally asquired l ' the jritea'est of the Natives in the blocks for the sunx o£ £25,000 in cash and a sum of £2500 in, fully padd-iuip shares in "a company ha.v •rmg'a capi'tal of £IOO,OOO, formed' to acquire tiho Mokau and' Mohalcatiiio blocks/, . 'and l other properties. . Mr: Herman 'Lewis, lessee, all bis interests in tjhe 'Mokaii and Mohakaino blocks, excepting, an area of afobut 1000 acues, wbichi is "subject to certain subrleases. to .Masqri.' Cbaanlbers for this gum of £71,000 fri caffh. wand £4OOO in fully jpaid-iip slia.yes. Ta& company purchased from Mason Cham-bea-s, paying in cash arid shares in its capi•fcal thai sum of £85,000.. Tdie isnm paid to 'the Natives for their interest in the land! was greater than the actual value of the interests of the Natives burdened wifcnl leases, assuming the. purchase rrfoneyr obtained' by the lesse.o to be trie' j|ruo value of the block. Suggestions were, .made before the Com\niittee •re.flectniig)' hrpon certain departmental officers' concerned in this tranisaction, but the Ooirpr i mittee is satisfied tibat these suggestions' ax© entirely disproved.