C. W. Brown's Property and Financial Report

Southland Times, Issue 12010, 2 April 1892, Page 4

C. W. Brown's Property and Financial Report

.#. Since date of last report the demand for country property lias been active, aud many thousands of acres of land are now passing into the hands of practical agriculturists. The development of the frozen meat trade, together with the better system of farming introduced into Southland by the use of the drain plough, artificial manures, and the growth of turnips instead of the continual cultivation of oats, which formerly obtained, have worked quite a revolution amongst the agricultural community, and in view of the fact that an abundant harvest has just been gathered in, the outlook for the future of the firming industry is most hopeful. A great deal of land that was a short time as;o looked upon as quite valueless has now, by the use of the drain plough been converted into fertile fields.- My sales since the commencement of the year have been as follows : — Sections 16 to 21 and 33, block 11, and sections 3S to 41, block I, Oteramika Hundred, containing 1024 acres, at 25s per acre : lease of section 1, block V, C.unpbelltown (1 rood 6 poles) frontage to Bluff parade, at L6O ; section 13, Harewood Subdivision, Avenal (1 rood 3 polts) with frontages to Avenal and Kelvin road at a satisfactory figure ; section lU, block 2'), Bluff (1 road), at Ll9 ; section 3, block 69, Invercargill, opposite the Wesleyan Church, at L 20 0; section 16, block 15, luvercargill, LI 10. I also sold in conjunction with Mr XV. Todd sectious 22 and i? 3, Harewood, Avenal, containing one acre, with dwellinghouse erected thereon at a satisfactory price. It may be noted that substantial dwellinghouses will immediately be built on the sections sold in Tweed and L^et streets. A very large number of both agricultural and pastoral properties are in the market, and there should not be the slightest difficulty in any boiui Jide. settltr obtaining ali the land be may require at prices considerably below those ruling in Otago and Canterbury. It is not likely that there will be any marked advance in the price of land in this locality until the large areas still held by the Government are disposed of. As, however, considerable sales under the different systems of cash, deferred payment, and perpetual lease, are reported at every meeting of the Land Board, the day cannot be far distant when all the Crown lauds will be disposed of. Town and suburban properties still continue to be dull of sale, but a3 there is Bcarcely an empty house in Invercargill it is only reasonable to suppose that an increase in value may be looked for in the near future. Rents are likely to advance, as houses have during the past few years been let at rates that have been quite unremunerative to the owners. There has been an active demand for business sites at the Bluff owing to the rapid development of trade at that port. Sections at Mat aura have also changed hands freely in consequence of the new freezing works being established in that locality. Shares — There is no lord demand for shares of any description, the comparatively few that an- held here are as a rule simply retained as in vestments, consequent ly seldom change hands. It inny lie noti-d, however, that Hank of New Zealand shares are not in such good demand as they were a few months ago ; National Bank's are improving, and Colonial's are quoted at about par. Insurance stocks continue to be in fair demand. Mining shares arc not inquired for owing to the heavy losses made in investments of this class during the past few years. It is reported that the Long wood Sluicing Company arc at length upon good ground. Financial — Money is obtainable upon firstclass freehold securities in large sums at 6 per cent., smaller t-ums at 7 to H. Invercargill, March 3lst, 1892.