THE HATUMA ESTATE.

Timaru Herald, Volume LXIV, Issue 3462, 5 January 1901, Page 3

THE HATUMA ESTATE.

Per Press Asoeiatioii. NAPIER, January 4. Messrs Sainsbury and Logan, solicitors for Mr Purvis Russell, owner of the Hatuma estate, which was compulsorily taken by the Government, have published a letter addressed to the Premier in. September last, to which no reply has been received. Mr Russell contends that the property is of much more value to him than the award of the Compensation Courfc, as he would have difficulty in getting an investment to return him the same income, but that owing to the unsuitability of the estate for small settlement even at the price awarded by the Court, small settlers could hardly hope to succeed, and the colony must ultimately be involved in considerable loss. He therefore offers to ransom the property by paving £60,000 in excess of the award if tiie Government guaranteed undisturbed possession. The Government would get £60,000 for nothing, with which to purchase land more suitable for close settlement. He suggests that other owners might feel inclined to pay substantial sums on the same guarantee, and thus a large sum Vbuld be available for the purchase of estates free from any burden of interest.