IMPORTANT SALE OF TIMBER

New Zealand Herald, Volume XLIX, Issue 14927, 27 February 1912, Page 9

IMPORTANT SALE OF TIMBER

RECORD PRICES OBTAINED. I i KAHIKATEA FOR AUSTRALIA. AN important sale of milling timber was held at the District Lands Office yesterday morning. About 20 buyers were present, and there was very spirited bidding, in one instance the. bids going up by £100 at a time from £17,500 to £24,000. Five lots were offered, and with the exception of two small sections all were sold, a total of £43,750 being realised. The- whole of the lots are in the Mangakaliia Survey District, Hobson County, and, with the exception of a few privately-owned timber blocks, are the last of the Government kauri bushes that can be worked in tho Wairoa district. Prior to reading the conditions of sale, the Commissioner (Mr. H. M. Skeet) pointed out that under section 184 of the. Public Works Act, buyers would be able to obtain tram or road lights over private property for removing the timber. Lot 1, consisting of 2062 green and dry kauri trees, 864 totara, 3681 rimu, 3989 kahihatea, and 463 matai trees, the upset price of which was £17,500 brought £24,000. Lot 2, consisting of 2137 kauri, 656 totara, 4292 rimu, 3042 kahikatea, and 319 matai trees, upset price £15,550, realised £18,000. Lot 4, consisting of eight kauri, 374 totara, 723 rimu, and 2898 kahikatea trees, was sold at the upset price, £1750. These are the highest prices ever paid for milling timber in the Dominion. At these prices about Is 2d per 100 superficial feet was allowed fur the rimu and kahikatea, and 2s per 100 superficial feet for the totara and matai. These are exceptionally high prices for rimu, kahikatea and totara, and making allowance for this, the cost of the kauri works out at probably 6s 3d per 100 superficial feet, or nearly three times the original upset price. With regard to kahikatea, for which buyers allowed a very high price, it is stated that owing to Australia admitting this timber only free of duty, it is being greatly sought after. It is the only tim ber suitable for the construction of butter boxes, the total absence of odour rendering it an admirable material for packing butter. Australia has realised the importance of this, and whilst charging a duty on other imported timbers, allows kahikatea in duty free.