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SALE OF RUNS.

UPSETS EXCEEDED. The- sale of 21-year leases of some South Canterbury pastoral runs on Saturday drew about 100 persons to the Courthouse), and great interest was shown in the biddings for the first small runs offered. The sale was conducted by Mr McClure, an officer of the Department at Christchurch (the Chief Commissioner being engaged at a similar sale at Christchurch), and Mr A. C. Pnnglc, a local member of <he Land Board, and the local officers were present. A few questions were asked whether, if a present tenant 'was the„ successful bidder, he would have to pay down a half-year's rent as an advance of the rent |f a haif-year in 1910;' or 1 whether, if he did so, it' would be credited to him as against his next instalment of rent under the current lease. Mr McClure replied that the half-year's rent must be paid down -by any bidder, and that it would not be credited -against any payment under a current lease. The sale was then proceeded' with.

The first • lot was run No. 3, a rectangular ;block of "2700 acres, on the eastern- side of Mount Peel. The present lessee. Mr K. Mackenzie, bid the upset, £135, and bids' of £1 each came fast from various parts of the hall, till £l6O was reached. Then came" "two £lO bids, followed by some fives/"t0,£215, , when oucb carried the price -to £220. Fives then followed in -qiiick succession, apparently from four bidders, till £3OO was reached. A pause followed, and the auctioneer began his closing' formula, when three bids of £1 each l brought to a close the contest for> future possession at. £303, or 'two and a quarter times the upset. There was a good deal of- applause when, /the present tenant, Mr K« 'Mackenzie,,* late Colotael of the South 'Canterbury Infantry Battalion, stepped forward from a back scat to sign '-'his cheque for rent and the sale B^heet.^" -The upset rent, was the present rent; the new rent is about 2s 3d per acre The. next lot, run 4a, 2142 acres, upset ; £2oo, also'elicited a keen competition,,most of the bids being fives", and again there was applause when the last bidder at £275, the present tenant, Mr T. Blair, went forward to sign. The new rental is about 2s 6Jd per- acre. ~ j* Lotl jun 4b, £240 acres, upset %150, V held. •by <Mr 8, % started ty bidding the up-' set, was qhickly rt?n /up"chiefly by ifives io £l9O, and/then more slowly by ones t01£201,-, s at '. which figure Mr Andrew 4 BrQWOi of Cooper's' Creek, be.came" the purchaser.". The total works out nearly 3s ; 3d -an, acre*, \J, Run 4c, 585' acres, upset £75,' was bid up by fives to £l4O, and then by ones to £143, the last bid being given by the present tenant, Mr D. P. Knight. His new rent will be over '4s IOJd per acre. ' V ' ' . The foregoing runs are all f in the Mount Peel dtetrict. Black Forest run, on the" AVaitaki, in 'the Mackenzie Country* 26,800 "acres, upset £460, elicited only one bid, the upset, by the 'present tenant, Mr R. ,K. Smith, and it was'knocked down' to him, ■ amid some applause. The rental works out at, about 5Jd per acre.- ' While the papers were being feigned for this sale, nearly everybody left the ,hall.

Two swampy, islands in riverbed, just above ,Xiako Pukaki, and a dryestrip'-oft-the--north',bank"of the "river; ,'m; all. 4800iacres, upset £49; present tenant, Mr; Chisholm, elicited bids" of £l' tilli£ftt was when MrftiYAlX, ,BlacJt; stopped forward as the buyer; (on*,behaK, of Jt ojie-'»£->.his 'sons).-" - TJie"rental,is.3.2d Jper' acre. "Mif the" case'.of "the runs;, whiqh change hands, there are some improvements to pay for in run 4b, some fencing and yards, valued at £BO. POOR COMPETITION. .... *. , p er p r ess Association. . CHRISTCHURCH, Feb. 27. 'The pastoral"'leases'- offered at auction to-day met a disappointing demand. The sale'was dull, and two small runs -. found no bidders, - and in no case 'was the upset price exceeded. The -total .area offered .was 172,534 acres. In every case the improvements were slight. ■ The leases are for 20 years, and possession will be given on March Ist, 1910. The following -were the purchasers:—Run .20. John E. Scott; run 180, Mrs Janet Murchiuon; run 127, J. G. Scott and T. H. Scott; runs 181 and 221, Blanche Murray Aynsley, who owns the adjoining freehold; run 183, A. E. Birdllng; run -103, no bid; .run 203., Florence Maud Killian and A. R. Killian, the lessees of the-surrounding runs.

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/THD19090301.2.3

Bibliographic details

Timaru Herald, Volume XIIC, Issue 13841, 1 March 1909, Page 2

Word Count
757

SALE OF RUNS. Timaru Herald, Volume XIIC, Issue 13841, 1 March 1909, Page 2

SALE OF RUNS. Timaru Herald, Volume XIIC, Issue 13841, 1 March 1909, Page 2