Plantations
p. 33 · Read in the full issue
N.G. Expropriated
Resale Values Lower.
EVIDENCE of the inflated values paid for expropriated properties in New Guinea when these were first sold in 1926 is provided in a report received by the Federal Government on the resale of five properties which reverted to the Administration. . jrTThe properties sold, the purchase pteke in 1926, and the resale price are:— Price. Price of Property. in 1926. Recent Sale. £ £ Bulo 4,100 1,603 Hermit 16,000 5,000 Purdy and Alin .. 9,100 2,526 Seleo 10,000 1,500 Tomalabatt .. .. 9,650 3,600 Despite the huge fall in bids which has occurred in the last 11 years, the prices realised at the recent sale are re garded as satisfactory. In most cases they are about 10 per cent, greater than the official valuation.
A competitor in the Tasman Cup yacht race between Auckland (N.Z.) and Ho bart (Australia), the “Aurora Star”, was blown 400 miles off her course and reached Lord Howe Island on February 4. There had been much anxiety in Aus tralia for her safety.