I imagine that if
ever it should come to the hammer the Hadleigh Colony would fetch a
great deal more than L20 the acre, independently of its cultural
improvements. These, of course, are very great. For instance, more
than 100 acres are now planted with fruit-trees in full bearing. Also,
there are brickfields which are furnished with the best machinery and
plant, ranges of tomato and salad houses, and a large French garden
where early vegetables are grown for market. A portion of the land,
however, still remains in the hands of tenants, with whom the Army
does not like to interfere.
The total turn-over of the land 'in hand' amounts to the large sum of
over L30,000 per annum, and the total capital invested is in the
neighbourhood of L110,000. Of this great sum about L78,000 is the cost
of the land and the buildings; the brickworks and other industries
account for L12,000, while the remaining L20,000 represents the value
of the live and dead stock. I believe that the mortgage remaining on
the place, which the Army had not funds to pay for outright, is now
less than L50,000, borrowed at about 4 per cent, and, needless to say,
it is well secured.
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