THE AUCKLAND COTTON COMPANY.

Auckland Star, Volume I, Issue 156, 9 July 1870, Page 2

THE AUCKLAND COTTON COMPANY.

Some days ago we mentioned the fact of ihe schooner Onward having left this port for Fiji, ou behalf of the Auckland Cotton Company. We are happy to be üble to be in a position to state the prospects of the company, which are extremely good. The entire ull'uir was hatched and reared in this city, and is in every respect an Auckland company. The capital is £30,000, and the whole of the shares have been taken up. About 15,000 acres of land have been purchased at Wandy Bay, on the south-west point of Viti Levu, on which a ginning point was .erected at the time of the purchase, and a small portion in cultivation. About one half of the land is suitable for the culture of Sea Island cotton, which is worth from 4s to 5s per lb. The present manager of the company, Mr. BennJe, former owner of the estate, went down by the Onward to commence operations, lie was accompanied by the secretary, Mr. Scott, who has also had experience in cotton-,, rowing. The brig Rita is expected shortly from the South, and she has been cha' tered by the company to taky down horses, slock, and implcmints for the estate. After lauding these, she will go on to China to procure coolies for working the plantation.

The circumstance of the land being level and near the beach, and thus suitable for the growth of the Sea Island cotton, enhances its value considerably, and we cannot but think that the company begins work under very favorable circumetances. It is satisfactory to see tllat this city is thus well represented in Fiji, and we hope that its works may soon become expended.

We believe that there is ample room for other companies, and we shall only be too glad to hear of other organizations with similar objects. No branch of commerce can be of greater importance to Auckland than her Island trade. — Herald.