From the "Morning Herald," June 4th, 1878.

Special Telegram.

(From Our Own Correspondent.)

A property sale of great interest took place to-day, when Messrs. J. T. Ford & Co. offered the Otaio Station, in the Waimate district, consisting of 17,300 acres, and stock thereon consisting of about 24,000 sheep. The run was offered on behalf of Messrs. Teschemaker and Le Cren. The competition was very keen. The property was finally knocked down to Mr. Thomas Teschemaker for £191,000—an average of £11 per acre.