IMPORTANT LAND SALE.

Otago Witness, Issue 2647, 7 December 1904, Page 36

IMPORTANT LAND SALE.

I Hesgrs Wright, Stephenson and Co., in coni junction with Messrs Guinness and Le Cren, Ltd. (Tiniaru), held an- important land sals at the Wear street Hall, Oamaru, on Tuesday, when they offered en account of Messrs Robert Campbell and Sons (Ltd.) their well-known Station Peak Estate, containing about 40,000 acres of freehold, subdivided, into 20 farms; also on account of Mr Thomas Meek his property known as Hurst! oa, containing 6-170 acres, in two blocks. Both properties ars situated on the banks of the Waitaki and Hakataramea Bivers, and they are contiguous to each other. The sale attracted a I«rg3 gathering, thn spacious hall being quite three parts full, and it included intending land buyers from almost every district in -Canterbury, Otago, and Southland. The Messrs Campbell and Sons and Mr Meek adopted 1 the -system of advertising upset prices- on each of the subdivisions of their, properties, thus assuring buyers of their bona fido intention to ssl!. In apite of this, however, and although in the main up&et vaiues fixed -were reasonable, there was a lack of buoyancy about the bidding, and only in one instance was there competition fox the lots sold, all the other sales effected being at upset price. The vendors cf both properties considered their iipseE values low, and as they were firm in adhering to them several large transactions which could have been concluded at a slight redu«tion on the reserves did not come off. It ■ is anticipated that some of the uncompleted! deals will yet be brought to a successful issue. Besides the fact that sonio would-bs purchasers regarded the vendors" limits as a trifle on the high side, two other considerations told against the sale, the principal one being that th» sellers' terms of payment placed the acquisic tion of^their land beyond the reach of men ol f modest means, whilst the other deterrent was j the present high price of sheep. The latter i reason need not haveskept any but the timorous from competing, for with the splendid values '■ cur ent for both sheep and wool — values which, I there is every indication will be maintained, if not at the existing high level, at all events at a point profitable to the sheep farmer — the ! risk should be small. We append a list of I the sales effected as follows: — STATION PEAK. Let 7 — Quarry Paddock, 1035 acres ; upset, £2. This land is in its natural state, well watered and securely ling-fenced. — Messrs Roberts Bros., Woodlands, at upset. Lot B—Judge8 — Judge Ward's Paddock, 1647 acres; upset, £1 15s. This block is in its natural state, well watered, and securely ring-fenced.— Mr J. R. Murray, Kurow, at £2 2s per acre. Lot 9— Receiving Paddock, 926 acres; upset, £1 15s. * All in tussock, well watered, and securely ring-fenced. — Mr Oorrigal, at £1 16s 9d per acre. Lot 10— Lower Ewe Run, 3200 acres; upset, £1 12s 6d. All in its natural state and well •watered. About 2400 acres could be cultivated. It is securely ring-fenced. — Mr De Largy, a% npset. Lot 15 — Township Block, about 700 acres; upset, £2. This lard consists of neb river? flat and blue tussock faces, well fenced on two sides. — Same buyer, at upset. Lot 18 — Wash Paddock, 420 acres; upset, £2 10s. This is subdivided into two paddocks. About 150-acres have been cultivated, the balance being in its natural state. — H. Slee, at upset. Lot 19 — Pentacotico Block, 1450 acres; upset, £3 15s. Consists of 1169 acres blus tussock downs, all surface sown with English grasses, and uneqiialled lambing country; also ' 49 acres of light agricultural land just sown, j •with oats -and English grass. The balance ia • rich, deep, swamp land, only about 15 acres j of which have been cultivated. The lot is subdivided into 7 paddocks with standard and! wire and gorae fences. — R. W. Humphray, at upset. Lot 20— The Swamp, 560 acres; upset, £12. Consists of 350 acres of rich swamp land, practically inexhaustible, and 200 acres good agricultural land, recently laid down with a mixture of best grasses. The lot is subdivided into three paddocks, and contains beautiful streams of pure water, one of which! has been regulated fox motive power.— H. Slee, at upest. HURSTLEA ESTATE. Block I— Homestead Block, about 3000 acres ; upset, £2 15s. This block i 3 bounded on th« south by the main road to Waimate, and is divided into 11 paddook_s, all securely fenced with wire and standard fencing. This country has grown excellent crops of oats, -wheait, rye, and turnips. It ia well watered by running streams, and the bulk of it has a sunny aspectThe improvements consist of a good sevenroomed house with bathroom, good wool shed! for six shearers, men's hut, blacksmith's shop-, barn, stables and implement shed, and sheep . yards.— Megsra T. W. and L.. Kelcher, at 4/' P s«k

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