WELLINGTON AND MANAWATU RAILWAY.
[BY TELEGRAPH.—PRESS ASSOCIATION.] Wellington, Wednesday. The question of the amount at which the Wellington and Manawatu Railway should be valued for property tax purposes was further argued to-day before the Board of Reviewers. Mr. Travers appeared for the company, who had been assessed at £135,958, divided as follows :—Horokiwi Riding, £59,310 ; Porirua Riding, £66,300 ; Kaiwara town district, £4872; Johnsonville town district, £5476. Counsel argued that his clients ought to be assessed according to the value of the land, supposing it did not carry a railway, and that the amount expended on permanent way, Sec.', should not bo taken into consideration. Mr. Bell appeared for the local bodies interested, and contended that the construction of the line, erection of buildings, etc., had vastly increased the value of the land in the possession of the Company, consequently the valuations should be upheld. The Board was of opinion that tho principle must bo sustained that the value of the fee simple should include the running right. The valuations were therefore sustained.
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Bibliographic details
New Zealand Herald, Volume XXVI, Issue 9378, 30 May 1889, Page 5
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172WELLINGTON AND MANAWATU RAILWAY. New Zealand Herald, Volume XXVI, Issue 9378, 30 May 1889, Page 5
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