NEW VALUATIONS

New Zealand Herald, Volume LXXV, Issue 23155, 29 September 1938, Page 19

NEW VALUATIONS

FOB-ESTJIY properties governments assessment OBJECTIONS BY COMPANIES LAND UNSUITABLE FOR FARMS r Ry jIiLEG ri A I'll —-Off N CDIUI KSPONDKNT] • " . PI"TARI'KU, Wednesday Objections to tin' now Government valuations of forestry lands in the Jlntnnjntn County south of Putsinirw, comprising a total of 127.420 acres. jUHtlf by New Zealand Forest Pfouuets, Limited (Mr. A. M. North 1. Afforestation, Liimtrd, Pularuru Pino unci Pulp Company, Liinited, and Pacific Forests. Limited (Mr. t R. P. Hunt), were beard bv the Assessiiient Court to-day. Mr. J, G- L. Hewitt, S.M., presided and associated with him wore Messrs. C Potts and' -I. W. Simpson. The companies contended that the valuations were too high. while Mr. A. L. Mason objected on behalf of the Matninata Coiintv Council on the grounds that the valuations were too low. Mr. W. Gordon represented the Valuation Department. Mr. Hunt said the properties were large blocks and it was admitted that thev were not to he treated on the sanie principles as those applying to farm lands. Ho submitted that no notice >hould be taken of the fact that the forestry companies were the only objectors to'the valuations for in many cases individual farmers stood to gain little if anything by lodging objections, in the case of the forestry companies, however, the amounts involved were very large. Bush Sickness Problem

Mr. Hunt contended that tho lnml was almost wholly unsuitable for farming. There was 110 question of anyone taking anything off the land. It would be some years before the shareholding owners would receive a. return. Counsel submitted that much hail been made of the claim that the applications of limonite and cobalt had solved tho bush sickness problem, but some of these claims were over-optimis-tic and were not founded on sound experience over a period of years. It. was too soon to assume that the treatment of limonite and cobalt had been definitely proved to be a success. Reference had also been made to the purchase price, but the Court was, asked not to" accept this price as a criterion of the present selling values because nt'tjie time of the purchase of some of the block several companies were iix competition for them, and consequently an artificial valucnvas created. It was possible that the same areas would not rind a purchaser on the market to-dav. Mr. Hunt said that the valuation of Afforestation, Limited's, area of 3243 acres hftd been increased from £4300 to £11.600. The Pacific Forests Company's pro per tv, known as the Club Hun, comprising 3828 acres, had had its valuntion increased from £7785 to £12,900 and the unimproved valuation from -i'6300 to £11,470. Tho valuation of the Putaruru Pulp and Pine Company s area of 81:38 acres had been increased from £13,035 to £18,005. . Thomas Dane Allen, valuer, said he rained 3000 acres ofythe Club Run at : 10s an acre, 2200 acres at £1 and the j balance of 526 acres, consisting of broken land, at ss. The improvements were worth £IO9B. To road the property would cost 30s an acre. Reginald Harry Smythe, secretary of Afforestation, Limited, said that one block of 2900 acres was purchased for £IO,OOO. Farming Failures • Frederick Charles Bnrnett, retired farmer, of Putarhru, said that attempts had been made to farm many of the blocks under discussion and these bad ended in failure. Daniel Dalziel"Sneddon, farmer, of Tokoroa, said the block of 4000 acres known bv his name had been sold for afforestation for £2 an acre, which "was the value of tho improvements, the price being raised to the figure mentioned because there had been competition for it by two forestry companies. Otherwise it would not have been sold at all. He had proved that it was unsuitable for farming. Giving evidence for the Mfttamata County Council, John Campbell, farm manager, of Tokoroa, said he valued the best of the land in dispute, at £6 an acre and the remainder at an average of 3os an acre. Kenneth Seymour Cox, farmer, or Lichfield, said he had proved the abso- .* lute success of cobalt, which cost from Is to 2s an acre to apply. Ninety per Cent of his lambs had been fattened on the Crossing Estate and weighed an average of 42ib. when sent away in February. To Mr. Hunt witness said that after tlie efficacy of limonite anil cobalt had been proved lands previously regarded as unsuitable for farming were later capable of being developed as farm lands. Giving evidence as to the improvements' Mr. Gordon said the roading of the forestry land had cost an average of £'•l a chain for every mile of road and £ls was added for bridges. _ 4 The Court reserved its decision.