AUCKLAND.

Lyttelton Times, Volume VI, Issue 381, 28 June 1856, Page 7

AUCKLAND.

THE NEW ZEALAND rOMPANY'S DEHT. An important paper was bid yesterday on the table of the House of Representa- • tives, by Mr. Dillon Bell, in the shape of a Report from the New Zealand Company's Debt Committee. Our readers are aware that a proposal was recently made by the Home Government and the Company, to convert the debt now charged upon the Liand' Fund of the whole Colony, into a reduced charge on the General Revenue. So far as we could gather, the following is a summary of the proposals. The New Zealand Company consents to give up all claims upon the Cololl3', upon receiving on the sth April, 1857, the sum of £200,000, understood to be the amount of itsshare-capital. Upon the sth July last, when the accounts were made up, there appeared to have been paid to the Company about £6,000 in excess of the amount due to it for interest up to that date. Instead of carrying this excess to reduction of the capital, it is to go towards the accruing interest; and all additional sums which will be in the Company's hands on the sth April,|lßs7, will go,|first an^liquidation of interest, and afterwards in reduction of the capital of £200.000 to be then paid off. If the proposal is accepted by the Colony, Her Majesty's Government will propose to Parliament to guarantee a Loan at interest not exceeding 4 per cent, to pay off the Company, in the. same way as the recent Jamaica Loan of £700.000 was secured ; a sinking Fund being provided to redeem the Loan in 30 years. The Committee have recommended the House to accept, the proposal, and to pass a Bill at once for carrying it into effect. We need hardly say this recommendation will be supported out of doors. It appears from the Report thai upwards of £60,000 has accrued to the New Zealand Company upon fourths of Land Sales up to the present time ; and that although £65,000 in hard cash has been remitted home, a comparatively small reduction only had been made in the original Debt, on account of the arrears of interest which had run on since 1850, and had to be first paid off. Hard as the terms imposed by the Company yet are, and grievous as is the necessity of provicl-

ing £12,000 a year for interest and sinking fund on a debt that ought never to have been charged against the Colony, we rejoice that a plan has at length been adopted for relieving the Colony from the necessity of sending home (o absentee shareholders onefourth of the Land fund produced by the hard-earned savings from the Colonists, and for transferring the fluctuating charge to a fixed annual contribution from the general revenues. It must not be forgotten that the chief credit of the plan is due to Mr. Adderley ; and we trust the Legislature will not omit to record the tlianks which are due to him by the whole Colony for his disinterested exertions;) in the matter. — New Zealander, June 4th. Cokomandel.—Recent arrivals from this quarter do not confirm the statement marie by Mr. Fox in the House of Representatives, with regard to the final settlement of the powder case. To those who have spoken with the natives within the last few days, the statement of the latter has been, —" We are willing to give up the powder, provided we be permitted to purchase guns, powder, and spirits—the same as other British subjects. Nor should we give it up under any circumstances, if it was the pro.perty of the Government. " We fear, indeed, that the matter is very far from beino*' finally arij usted.— Southern Cross, June 10.

Discovery of . Coal.—Yesterday, a gentleman arrived in town from Whaingaroa West Coast, who on his way overland, crossed the Waipa, and conveyed the intelligence which it is our pleasing duty to communicate. Mr. Chandler, who is engaged in erecting a flour mill at Karakariki, on that river, has lately discovered coal in the immediate neighbourhood. It is said to be in great quantity, and a sample, which seems of fair quality, and which was taken from near the surface, has been left at our office for inspection. We shall wait anxiously for further information respecting this discovery, as the fact, when verified, of this mineral being found in abundance on the banks of a navigable river, must be regarded as a significant occurrence in connection with the future of the province.— lbid.

Extraordinary Assault.—Yesterday morning, a woman named Marian Garrick was charged with assault, under the follow-, ing circumstances. T. L. Travers, Esq., having been sworn, deposed—"l am a merabei of the General Assembly, at present residing in Auckland. On Saturdayafternoon, as I was walking up West Queen Street with Mrs. Travers, the prisoner came out of a house with a quantity of stones and broken china in her hand, which she threw in my face and in that of Mrs. Travers—using, at the same time, very abusive language. She was proceeding to further violence, when, to prevent her, I seized hold of her arms. She then bit me on the left arm. I let her go, and followed Mrs. Travers. The defendant then picked iip a large stone and threw it after us, striking Mrs. Travers on the heeh " Tl>e prisoner was ordered to pay forty shillings and costs, or to be imprisoned J for two months, with hard labour; also, to find sureties to keep the peace, herself in £20, and two sureties in £10 each. The conduct of the woman, we learn, is supposed to be the result of mental derangement, occasional symptoms of which have exhibited themselves since the death of her.husband; who was killed some time ago in* Mechanics? Bay.— Ibid.