THE BROOMHALL SCHEME.

Globe, Volume IX, Issue 1261, 3 April 1878, Page 3

THE BROOMHALL SCHEME.

We (" Auckland Herald ") learn that the New Zealand Land and Mortgage Company, which was announced some time ago in con. nection with the Broomhall scheme,. has : in. popular parHance, '< burst up.' JjCthapk it would he more correct to say that the company would not float in the London market, and that the prospectus had been withdrawn. Variou3 causes are assigned as the reason, the chief of which appears to be that of business jealousy on the part of certain leading commercial houses in London who trade with New Zealand. They looked upon the proposed company as one which would be likely to take some of their trade away by making advances upon wool and produce, and therefore could not be persuaded to lend it a helping hand. The iondon "Times" also gave the proposal a very unfavorable notice, and it is even said that some of those who sent Mr Broomhall to New Zealand were opposed to his ambitious loan company. Private letters were received recently from Mr Broomhall explaining the reasons for the collapse of his scheme, but it does not seem clear wbether he will not abandon his proposed Temperance Settlement at the Upper Thames. Mr Daniel Tookey, who Wf.s oj,ie of tfie 3arly Thames set fievs, and after whom the Too'key-s mine is called, writes to the "Thames Advertiser '' upon the Broomhall settlement in the following strong strain ; —" It is generally believed here that the Broomhall settlement i(3 only a bogus affair, and the object of its promoters is to obtain by a side move the valuable lands of the Vpper Thames. A few well-known Auckland land sharks are supposed to be the l-eal originators of the scheme. A good many of our townsmen are also under the impression that two or three of the members of the Waste Lands Board are too intimately connected with this Brummagem or teetotal fakement. Now, sir, it behoves every resident of this district to watch carefully and protest energetically against the proceedings of Broomhall and Co. and the Waste Lands Board ; for if theee lands about ihe A+oha a*e onue allowed to pass iuto the hando'of Brummagem or other land sharks, we otfn or must remove from this place —that is to all present appearances, nearly dug out."