THE FLAXBOURNE ESTATE.

Otago Daily Times, Issue 13207, 14 February 1905, Page 5

THE FLAXBOURNE ESTATE.

(Pke United Prkss Association.) BLENHEIM, February 11. In tlio Flaxbourno omo to-day evidence was given before the Compensation Court by A. Biss, Wellington, accountant, who produced balance sheets showing that the average net income of tho estate during five years, from 1897-98 to 1902-3, amounted to £18,266 a year. This average capitalised at 4i per cent, would represent £405,910. Excluding areas (seven) reserved by the owners, tlio 45,000 acres now being taken by tho Government would havo Kivcfi a net annual income per year during the last five years of £14,613. Everard Weld, manager of the estate, was the neoct witness. He described Flaxbourno as an unrivalled ewe country and well watered. It was superior to (he Starborourii country adjoining, in that it grew clover splendidly. He valued the estate (excluding retained area) as in February, 1903, at £303,377. With an expenditure of £34,236 on improvements the. estato would return a net annual income of £28,016. Wold's evidence will be continued on Monday. BLENHEIM, February 13. In the Flaxbourne Estate case, to-day fclie evidence for claimants was concluded, and Mr Sim opened tlio case for the Crown. His nddrc-ss occupied two hours, and wae listened' to by the Minister of Lands and the Hon. C. H. Mills. Mr Sim traversed the negotiations between the Government and Sir George Clifford "for the acquisition of the estate, and claimed that tho facts showed, that the grievance rested with the Government rather than with, the owners,. who admitted they had; purposely protracted negotiations to gain time. Counsel described the case for the claimants as composed largely of speculation as to future values of property. The valuations made by witnesses for the Crown would average .£l4o,ooo—just half the average of the witnesses for claimants. \