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The area shown as open for selection —viz., 19,797 acres —comprises pastoral-run and town lands exclusively, thus illustrating how eagerly land is selected in this district. Lands disposed of. This year's revenue shows a decrease of £6,172 on the total of last year. One of the chief contributing causes of this falling-off is the failure through inability or disinclination on the part of selectors under the occupation-with-right-of-purchase system to acquire the freehold of their holdings, as out of forty-four lessees under that tenure only five availed themselves of the opportunity. The land transactions for the year ended the 31st March, 1907, with the number of tenants, the area held under each tenure, and the revenue derived therefrom, are given concisely in the following summary : —

Summary of Land, Transactions, 1906-7.

Review of each System of Tenure. Deferred Payment. —Remains unchanged, one tenant holding a pastoral area of 1,415 acres. Perpetual Leases. —Twelve tenants hold an area of 3,543 acres of Crown lands, paying £132 annually, whilst 3,233 acres of < ducation-endowment lands are held by seventeen tenants, and for which an annual rental of £161 is payable. The lessees herein are rapidly converting their holdings into freehold or exchanging to lease in perpetuity, so the tenure bids fair, like deferred payments, to soon become a system of the past. Occupation with Right of Purchase has been further augmented by ten selections, whilst two were written off, and five acquired the freehold. This leaves 245 tenants, holding 134,717 acres, and paying an annual rental of £6,699. Value of improvements effected on properties visited was £97,316, as against

Transact ons during Year. Leaseh 31si >ld Lands held at March, 1907. Revenue received during Year 1906-7. Tenure. Number. Area. Number. Area. Cash Perpetual lease made freehold Occupation with right of purchase made freehold Perpetual lease Deferred payments Occupation with right of purchase Lease in perpetuity Village settlements — Occupation with right of purchase Cash ... Lease in perpetuity Village - homestead special settlements Special - settlement associations —Lease in perpetuity Improved farms Small grazing-runs Pastoral runs Timber-cutting Miscellaneous leases Transfer fees Crown-grant fees ... Survey liens Other sources 46 1 5 A. R. P. 815 1 36 327 0 0 2,088 0 0 A. R. P. £ s. d. 1,988 17 9 560 0 0 1,789 3 0 "io 3,498" 3 5 12 1 245 3,543 0 23 1,415 0 0 134,717 2 22 164 7 4 63 15 0 6,051 18 4 6 1,993 3 24 202 103,615 3 28 3,375 10 0 7 45 0 14 0 12 6 "l2 792 1 7 "62 27 2,718 0 39 160 1 18 5 0 0 1,157 12 3 60 5 10 14 3,111 0 19 116 1 8 4 14 30,652 0 0 3,282 0 14 17 85 17 "85 1,916 0 0 248,938 3 2 117,713 0 0 63,437 8 24 238 18 6 2,782 7 3 762 4 1 240 0 0 754 -8 9 207 2 0 60 18 7 61 9 4 443 17 10 Totals ... Land for settlementsLease in perpetuity Lease in perpetuity (village) Small grazing-runs Miscellaneous leases Miscellaneous receipts Cash village Buildings, &c. Native townships ... Endowments 98 24 1 43,449 2 6 12,585 3 12 2" 1 0 774 419 14 16 9 681,332 0 29 119,093 1 13 33 3 24 19,681 0 0 369 0 27 20,884 10 0 34,684 11 11 21 8 11 4,118 2 6 185 19 6 3 11 0 8 0 0 776 13 1 434 18 6 344 0 6 "l 0" 1 0 15 77 3 25 103 26 692 3 2 9,362 2 35 Grand totals 391 56,115 3 3 1,361 830,565 0 10 61,461 15 11