THE BOARD OF REVIEWERS AND THE MIDLAND RAILWAY.

New Zealand Mail, Issue 1060, 23 June 1892, Page 40

THE BOARD OF REVIEWERS AND THE MIDLAND RAILWAY.

(press association.) Christchurch, Juno 17. At the Board of Reviewer* of the Malvern District this morning in reference to the Midland Railway Company, a point was raised as to the valuation of the railway in the district. The total valuation was £40,126, of which £126 was the valuation of the land, and £40,000 improvements. Mr Beswiok, for the Company, said the matter for decision was vvhat was the proper mode of assessing an uncompleted Work. Ihe assessor had taken the value of the uncompleted contract. In England the mode was to take the land at the unimproved value ; then the cost of materials, to ship them properly, until comDieted, was no value, for as the section could not be run at a profit there was no ratable value. A completed railway in England was valued at the amount which the tenant would five for the section. Mr Beswick contended 'hat the Company was entitled to h- r«ted • n the value of the land over which the iico ussed, irrespective of im. provemeDts. T b <■- Chairman thought the decision of rhi« i.m-ter was one rather for a court of law ib.mi the Board, as some nice legal points I a>i to be dealt with. Mr Beswick arid the difficulty was they conld not get the nutter before the Court. After further discussion and evidence taken the total valuations were reduoad from £40,126 to £5740.