SETTLEMENT SCHEME

New Zealand Herald, Volume LXXII, Issue 22167, 22 July 1935, Page 10

SETTLEMENT SCHEME

ESTATE NEAR ROTORUA COMPANY'S £IOO,OOO PLAN [from our own correspondent] HAMILTON, Sunday Ordinary farm securities not proving satisfactory as a means of investment the Finance Corporation of New Zealand, Limited, a Waikato company, has embarked on a large land settlement scheme at Reporoa, involving an expenditure of £IOO,OOO. The estate was formerly owned by the late Mr. H. R. Butcher, and is known as Strathinoro. A committee of the company, comprising Messrs. P H. Snxton (chairman of directors), F- E. Hughes, F. Hayward and M. M. Shaw (general manager), spent three days on the property last week and mapped out a scheme for its immediate development. The area comprises 10,000 acres, the nearest point being 28 miles from Rotorua. About 3500 acres are improved, and all the land is workable. Ample water is available, as the Waikato River and the Waiatapu, Otonga, Torepatutahi, Rangaakaika, Mangatete and Rotongata streams run through the estate. Twenty-five years ago the land was inundated by waters from the Rotongata Lake. The lake still exists, but its dimensions are now very small.

The committee decided on a subdivision al roading scheme, and tenders are to be called immediately for carrying out the work. A straight, easily-graded road, seven miles in length, will be formed through the property. It is proposed to subdivide the property into 70 dairy and sheep farms.