THE PATETERE BLOCK.

Waikato Times, Volume XXXIX, Issue 3157, 17 September 1892, Page 2 (Supplement)

THE PATETERE BLOCK.

Fkojc " Anglo-Colonial Notes " in the Auckland Star of Friday, September 9th, we extract the following comments,

referring to a report on the prospects of the New Zealand Thames alley Laud Company. Considering the many drawbacks and disadvantages that have had to be overcome in the initial stages of the management of such vast areas of land, it must be a source f.f considerable gratification to Mr h\ 1). llich, the late manager, that he is enabled to hand over the control of the estates to his successor with a fair prospect of a successful t'l'in of oliice het'iue him :—A cheery meeting of the Company was held at Dashwood House last Wed-iie.-day, Mr Henry Kimber, M P., presidium. The Chairman said that for the first time in the Company's history he had to announce the gratify in ir fact of a etedif, balance. It did not amount to much certainly, £20 iu fact,b.it tint was a iriv-.it improvement on the £1.000 debit hal.ir.ee of 1-Sitl. or the t'C.oOI deficit of IS9O. The Company had now trot over their initial dilliculties and discovered a trrass which .-eeined to take, h.ihl of the land. They had started with 10,000 sheep : and •_',ooo cattle, which was e, ; uai l.» IS.OOO sheep, and assuming the profits at 6s Sd u head, ought, to yield an iii.-mnc of .€O,OOO a year. Mr Murray had been appointed sole local director, but Mr Rich, their late manager, had ngreed to aet in mi advisory capacity. By the changes iu the management the Company would save £150 a year. Finally with resranl to the serious matter of taxes, he wis pleased to be able to announce that their assessment had boen reduced one-half. The mail iuscto hand biouirht this wyli.-omo new.-. Mr Thomas Russell in <--,vnj,li..,ent,-ii-y terms .veonded the adoption of the report, which was agreed to.