THE BUSHY PARK ESTATE.

Otago Witness, Issue 2252, 29 April 1897, Page 17

THE BUSHY PARK ESTATE.

1 At the farewoll social given tD the Premier ( and Mrs Seddon in Wellington the Premier

said the following was the explanation in respect I to the Bale of the Bushy Park estate :—: — ! That estate fell into the hand* of the bank because the owner owed money to the bank. The bank worked it for some years, and put managers there, bub it did not give a clear profit of 2£ per cent. The ya&r before last they actually losb the interest ou the whole of the capital, and £40 beside. Last year, owing to the good prices for grain, it paid something better ; but taking the ; last four years, it did not pay a ' clear 1\ per cent. Nominally, and owing to the prices coming in for gnin, it could be brought up t) 5 per cent., buo with the risk in working if, and with the extra charges rinoailed, there was a considerable risk Twelve months ago all the esta.^,3 under the control of the Realisation Board were advertised, aud there was no^ a single ofifa? for Sushv Park from that day sill the d*y the M'Kei.zie boya bought ir — (" Why ?") Because it hud a bad name — (A Voicti: "Why didn't rhe Government purchase it under the Laud for Settlemeets Act ?") He would give the re-usou why. He would read to them a Btate document Mgned by Mr S. Percy Srai'h (chaicmun of the Purchase Board), Mr J. U'Gowan (of the Tax department), ami Mr AlaitJarui : — We, the members of tbe fto.ird of Land Purchase Ciimni'«siouers, appc-iiitfl uudur "The Land for Settlements Act, ISiU," tor rite (Kagn '.and District, in compliance with the diruci.ion.« contained in your memorandum of the. sth N'uveaiber, 1894, have the honour t) rcpoit, as 'cgarda r,ho laarl mentioned in the schedule below | Bushy Park es'atej: — Ist, That, a,fter the members of the board, accompanied by theiv valuer, had visited the Bushy Park eitate, and considered Us suitability for >he pnrpo'.-s of the act, it it of opinion that the want of water, las'^e hoineuteri'i, ftc , the property « imt suitable for aubil:visk>& into small famls, snd, therefore, mnuot racotiimen'l the pmchaqc. -S. Pt.n'jY Smith (chairuuic), John M'Gowan, J. P. Maitlsni). There was *hz *.ua«rer, continued the Premier. The (aw declirrd that theae commissioners muit iuvssiigats, exiuiine, lcport, and advise. They had advised the Qoverament that they must nofc touch Bu>hv Vark. (Cbserfi.i Dired any mm in t'oab room nay a word againsU these commiisioaera, or say that Iheir report was ot a political colour ? They dared not do it. — (Cheew.) Ano'her rsporb was as follows :—: — The member? of the board v/(>nt over the Bushy P.trk estate, accompanied by the board.-; valuer, Mr A M'Kerrow. The main re is jus which the corumisbiouyiv have ia mind against t!ic purchase are : The large and expensive hom<>stc\ul, suitable only ii.r a large property, on which money J see. us to have b«sen speut in a. luvUh manner. This homestead is not suitable for a stmll farm homestead, and spread over the whole piopuity its value would add nearly £1 par m>re to it. The large woolshed and yards suiUble for a big e3tate, out iiol for small homesteads. Thij fine fl-tt along the river, which, though ex<'elleut in soil, ii subject to heavy tluodfl, precloding the erfctiou of homes on it, and to include part of tins hills, with subdivisions running uoross the flats, makes the difficulty greater about the southern aubdivisions. The state of the grasses is such that they %vant renewing to a large extent, the place having been (and a ill is) overstocked, and the good guissus eatan down or descrjyed. The raiding would be difficult without cutting i-lie properly up very awkwaidly. Uilievins that dairjiuß is wlwt settle™ on a »Uce like this, and ia sueha district, should, look to, the want of water is a gieat draw- j back to cutting up. In settling fauca a block, the J rents necessitate that the new settlors should be able to get somn lctuiu at once; on this plane, owing to its hiving boen ovcr.itueknd, they would not do so -idvantageously ; the place requires a rest and breaking up. The fact ia, the place is better as one estate than if it were subdivided. Again, Mr James M'Kerrow, chairman <;f the Lind Purchase Curami«s'oners f had reported :—: — j Regarding Bushy P.irk estate, I find that th* I members of the Land Purchase Board of Otago I were on the ground inspecting it two years ago. ' They then declined to recommend the purchase, : because they considered the estate unsuitable for subdivision into small farms on account of th<j ! want of water on the ridges and the liability of : Hoods of the fine flit along the Shag River ; also j that, while the expensive homestead, woolshed and yards would be practically useless for a small farm, their value would have to be spread over the whole estate, and each section or farm take its quota of loiding. although deriving no benefit therefrom. The board considered that the place was better to be worked as one C3tate than if it were subdivided. Under these circumstances, I do not see that there is any liklihood of acquiring tbe lands referred to in the petition.— (Signed) James M'Kerrow, Chairman Land Purchase Commissioners. Could a word be said against Mr James M'Kerrow, a man whose name above all others deserved to be held in respect. — (Cheers ) For the first time, these reports were now made public, and he asked those newspapers who had publiohed unfair charges in this matter to publish in common fairness those reports. — (Cheers.) Another report from the officers stated :—: — The proceeds of the sale of Bushy Park will yield to the Realisation Board the sum of £900, or 4£ per cent, on £20.000, free of all responsibility or deductions of any kind. Mr Foster, general manager of the Realisation Board, had written as follows: — Regarding the advertising, the result of the general advertisement inviting applications for the purchve or lease of the various properties was without satisfactory response, the only inquiries or offers being from persons and at rates which indicated the speculator only. So far as Bushy Park is concerned, I have always considered it a property which, to ensure the best price, we must wait inquiry from a purchaser intending bnna fid: settlement on the land. lam convinced that h*d it been submitted to public auction we should have found very little competition, and probably the property would have been passed in very much below its value ; but such bid, in the event of negotiations by subseaucnt purchasers.

would have beeu used ngninst us as indicating a market vilue Whilst admitting freely the advautago of public auction and public competition in most cades, I submit, with the most perfect conviction, that Busby .Park was an exc-ption. I consider ws have reason to congratulate ourselves upon tho price at which the property is arranged to be sold. The Premier read figures to show the loss which the estate had incurred while in the hands of tho Assets Board. The colony had now got 3£ per cent., and no anxiety or responsibility. In the presence of the facts he had given them, no dcubt the press would withdraw the charge of corruption The facts deiied the j most captious critic. There were hundreds of 1 other estah's disposed of, aud not a word w*a i said ; but because in this caie the per<ons con.- ; crrned wtre the aona of poor vlci John 1 M'Kerzif, the Minister for Lands — (loud j cheers) — they wero to be punished because their father was an honest administrator of the landg I A tb ; s colony. — (Ciieers.) Ho wa3 hated by tho / Opposition — (" No")— in respect to his land for I settlement policy, not personally — psraonnlly they lifced him, and they liked him (Mr Seddon) too. — (Laughter.) Ho had given them j «hs faots relating to Bushy Park ; he had told the geuLkmon who interrupted that he would leavo him in tho bush, and there he was.