LAND SALE.

New Zealand Times, Volume XXX, Issue 4362, 13 March 1875, Page 3

LAND SALE.

The Provincial land sale, held on Peb. 25th at the Provincial Buildings was, as was anticipated, a great success, both as regards attendance and financial results. Mr. J. G. Holdsworth, Crown Lands Commissioner, acted as auctioneer, and for most of the land put up the biddinir was very spirited, some of the sections realising as much l as 200 per cent, above the upset price. The first lands put up were the sections at the Xe Aro pa reserve, but for these there seemed to be little demand; only five out of fourteen were disposed of, four of the number being bought by Mr. Dransfield, at prices ranging from £3 to £4 per foot. 2126 acres of pastoral land, in the Whareama block, sold at the upset price of ss. per acre ; 48 acres on the Taratahi plain.brought £SO ; 43 acres near Greytown brought £BS, and 100 acres in the Rangitikei district brought £IOO ; the price in each case being a considerable advance on the upset price. The Bunnythorpe sections, which had evidently attracted large numbers of speculators, led to keen competition. The first section, comprising 31 perches only,’ With an upset price of £lO, was knocked down at £42, and so the competition was continued throughout the _ disposal of the central quarter-acre sections, which were all purchased atvery high figures,the important position of the township and its flourishing prospects justifying the confidence of the bidders. When the outlying sections were reached, the bidding flagged a little, which was not strange after the high-pressure pace at which it had been kept up. A large number of the suburban sections were passed, but these all acquire greater value from the fact of the town being established in their immediate neighborhood. The Commissioner will be in attendance to-day at the Crown Lands Office, when, no doubt, a large number of the unsold lots will be taken up at the upset price, as was the case at the Bedding sale. The net result is an addition to the Provincial exchequer of £4691 55., an amount which may be swelled, to £7OOO by private selection of the unsold sections.