A LEASEHOLD FAILURE.

New Zealand Herald, Volume XLIX, Issue 15124, 15 October 1912, Page 8

A LEASEHOLD FAILURE.

EXPERIENCE AT SYDNEY, In Australia, as in New Zoaland,. tlß}. are no evidences'of a rush for■ leasffisiS,,when the intending settler can secuJ* & freehold basis. The New South 'Wis: State Government tried the system *•*' Kensington (Sydney) lately on baSdit? , blocks, but- the public (says the Syfc? Morning Herald) mostly preferred to j$ their cash into private subdivisions, «&* ; freehold tit'© to offer. There wfrn 60 odd of the lots at St?'. sington, in which the annual paymcrfii* small, ranging- from £112s 8d per blocks. • £3 7s 6d for the full peiiud of.»!' According to the official map about H*f these are waiting for lessees, though* blocks have b«n available since Jiffie,jK« are within walking distance of a twjoef tram section. The vast majority of 0 zens who want to build a home '&$$ be instinctively attracted by the re?» just as are the investors with capi& B lend. '.;'■■ Not' long ago the Government, hi desire to extend the leasehold $$mM dressed a circular to those' farmers. *f bought.from time to time, portions:«f.|j properties which were reanmed'-itfoK gS Closer ' Settlement Act, beginning. » back as 1905. This communicaiioE B§ gested that the settlers might like to ';" come leaseholders! on a rental basis..;" : far, it is said, there has been a; poor raponse. The total of the applicants;«g| to about six. The balance prefer.l§|ft tinue paying their annual . instated | the, principal rather than annß»sjJ|; which brings them no nearer the gw ;1i ownership. ' 'iV-~};