THE NEW ZEALAND COMPANY. (From the Times, June 1.)

New Zealander, Volume 5, Issue 366, 17 October 1849, Page 3

THE NEW ZEALAND COMPANY. (From the Times, June 1.)

Yesterday, at 1 o'clock, the annual meeting of this Company was held at their home in Broad-street. Mr. Aglionby, deputy governor, filled the chair ; and the other Directors present were— Mr. J. E. Boulcot, Mr. A. Currie, Mr. J. B. Godley, Mr. J. R- Gowe, Baron do Goldsmidt, Mr. A. Nairn, Mr. J. Pilcher, and Mr, G. F. Young. TUe minutes of the last meeting having been read by the Secretary, Mr. Burnand rose and complained that £8,000 of the Company's funds had been appropriated as allow nnces to the Directors. He expressed his opinion that before this had been done some attempt should have been made to set aside a dividend for the shareholders of the Company. Upon this a conversation arose, which was terminated by The Chairman, who explained that the sum of £8,000 had been get apart by the Directors for the benefit of the Company, and that the D.rectors themselves had made no uae whatever thereof for their private profit. The Secretary then read the Report, of which the following is an abstract: — •' The objects which have prlnc'pally occupied the attention of your Directors dming the past year are the completion of the arrangements winch we had then commeuced for the determination of questions relating to land in the several settlements of the Company ; the resumption of land salei in those settlements ; the ascertainment of the lands available for further colonization-, the means of rendering such lands most efficiently subservient to that purpose ; the execution of conveyances ; and the adjustment of the Netson accounts. In the pursuit of the major part of these ob. jects the success has been such as to afford grounds for much satisfaction. In order to the determination of the questions which had arisen between the Comptny and the purchasers of its land, we had proposed in the month of December, 1847, that all matters in difference relating to that subject should be referred to the sole decision of the Governor-in-Chief. While declining: the office of arbitrator, he entered cordially upon the task of mediation, and thus became the active promoter of a satis'actory arrangement. The arrangement embraces, however, one class only of landowners — those, namely, who either were, in September 1848, or previously had been, resident in New Zea'and, on tbe ground, exclusively, of the losses and personal privations to which they had been subjected in consequence of having ventured themselves and thfcir families, as well as their capital, in the colony. In the opinion of the settlers, the non-residents had no claim to a similar award ; and to admit them to it would, by increasing to a very large extent the quantity of land to be granted gratuitously and withont proviiion of funds fur colonizing purposes, inflict a proportionate injury upon the settlement. *' Of our intentions to resume the sale of land in the settlements we have given public notice with as little delay as was practicable. Definite privileges have been given to parties purchasing in the United Kingdom, in the shape of passage- allowance and a power of recommending labourers of their own selection. The size of allotments both in town and country has been much reduced, so as to meet tbe wishes of capitalists of all classes ; while no impediment is interposed to the acquisition of estates of the widest extent, opportunity is afforded to become the proprietor of a single allotment of 25 country acres, or, if a town he preferred, even of a quarter of an acre. Above all, the restraints upon the power of selection, which heretofore existed in the shape either of order of choice or of sale by auction, and which were, perhaps, indispensable at the outset of the enterprise, are now removed : each pur» chaser will henceforth be at liberty to select without delay the allotment he desires, and to obtain it at once at the price previously fixed and known. " In connexion with the sale of land, the question of pasturage has necessarily come under review ; and we have drawn up a table of regulations for the depasturing of lands at the disposal of the Company within and without the settlements respectively. In the former we hate determined to confer the privilege (without defined runs being specified in the license) upon the holders of purchased land in each settlemeut. and upon them only ; to xequire that it be apportioned according to the quantity of such land held by each applicant ; to intrust th»t apportionment and the administration of other details to persom elected an-

nutlly by the parties themselvei ; and to attach thereto no money-charge whatever, except the trifling fee of half a guinea upon the isiue of the license. In landi without the lettlements we have resolved to dispense with the previous qualification of holding purchased land } to throw open the pasturage to all persons whatever, but to impose a moderate pecuniary charge. In these, as in lands within the settlements, we restrain the duration of the license to one year, giving, however, to the first holder a certain preference ia the renewal. " As a part of the arrangements indispensably necessary to such colonization, as well as a question of justice to former purchasers, our special attention hai been given to the simplification of the forms of convey#nce. Subject to the necessary powers being conferred by the Legislature, a mode of procedure has nt length b°en devised, regarding which we feel satisfied, under the assurance of your solicitors, that while unnecessary intricacy is avoid«d, provision is made both for conveying to the purchaser an unimpeachable legal title, and for securing to the Company a valid discharge from its fulfilled contracts. By this course the triple advantage will be gained of avoiding delay and expense, of obtaining an accurate description on the spot, and of enabling the party inter?sted to comply at once with the local ordinances which require that all instruments affecting colonial lands shall be recorded in the forms piesciibed, in the colonial registers. The charge upon the execution of the deed will be tbe amount of the actual costi. " The Nelson accounts have also received our frequent and anxious atlention, and a decision has now been proposed by the committee appointed to consider the question, ba* been approved of by th* Court, and will be communicated immediately to Ker Majesty's Government. " Negotiations are in progress, under the sanction and aid of the Government, for the acquisition by j purchase from the natives of extensive tracts adjacent to those which are already the property of the Company, and extending to either coast of the southern portion of the Northern Island. Purchases, embracing two-thirds of the Middle Island, have been definitively effected with the like sanction and aid. By the prudent plan adopted by the present Governor, of paying for native lands, by means of instalments extending over a series of yean, many of the objections which we formerly urged against snch payments have been removed. " For the purchase of the entire possessions and interests of the French Nauto-Bordelaise Company, at Akaroa in Banks' Peninsula, we have entered into a definite agreement, which is not yet brought to a conclusion, but of the satisfactory issue of which there is no reason to doubt. " The only objects of particular interest which the accounts present are, the discharge of the last debentures upon which money was borrowed during the period of extreme difficulty that commenced in 1843 ; the expenditure of £16,153 15s. 7d., including £9,339 Bs. 3d. received for freight and passage money, upon the conveyance of emigrants, by means of which 778 inhabitants bave been added to the colony in the course of the financial year ; and the receipt of £11,206 10s. (including £5181 10». depoiited last year), as the price of 5.603J acres of Ot»go land." Mr. Burnand then rote, and delivered a long speech, part of which he read in manuscript, and which provoked at intervals a good deal of interruption. He recommended the Directors to employ lecturer* in propagating throughout the country a knowledge of the advantages possessed by New Zealand as a colony. He advocated the further development of emigration by raising loans, and concluded by moving a resolution which, finding no seconder, fell to the groutid. The Chairman, in reply, pointed out the danger which would be likely to flow from the employment by the Company of lecturer-, whose character and qualifications they might not sufficiently know, and by whose pledget and statements they must necessarily be to a considerable extent bound. He explained the impossibility which existed of raising money by loan unless they could convey their lands by an indisputable title. He showed that for emigration and other purposes connected with ,'the permanent interests of the colony, the Directors had already made exertions in all their settlements but one far beyond the means at their disposal. In the meantime they were supported by a Government grant-, and, when the relief thus obtained had ceased, he trusted and believed that the colony would be in such a prosperous condition that they might be able to move forward without assistance. He was glad to find that recent intelligence from New Zealand gave a very favourable account of the state of affairs there, and he saw no reason why the Company might not now hope to found there one of the most flourishing colonies in the world. Mr. E. Halswell then moved, and Mr. J. WaUon, in briof terms, seconded a resolution, that the Report be adopted. It was agreed to unanimously. The following resolutions weie, among others, also carried :— 11 That this meeting do authorise and empower the Directors to make such application to Parliament, fur enlargement of the powers of the Company in reference to the execution in New Zealand of conveyances by the Company of land sold by them, as to the Directors and Her Majesty's Government shall seem expedient. 41 That our principal agent in New Zealand fur the time being be empowered at any time, and from time to time, to nominate nnd appoint any persons whom he may consider most eligible to act an his successor in the office of our principal agent, in the event of his (our principal agent's) death, resignation, or incapacity to act, or departure from the colony, and to recal, cancel, and revoke any such nomination ; and also at any time to suspend any of the Company's local agents in New Zealand ; and upon the suspension, resignation, death, removal, or departure from the colony of any of our local agents for the time being, or other abandonment or neglect of the duties of his or their office, to nominate any fit person or persons in his or thMr places (subject to confirmation by the Court of Directors), and to confer on all and every the persons or person so appointed by our stid principal agent, such powers and authorities as the Court of Directors may deem advisable."

The Hecate and Sphynks steam sloops were ordered to be suddenly fitted out at Portsmouth (by electric telegraph orders), on Saturday, for some special service. The Hecate was the firit taken in hand, and was got out to Spithead before lunset on Saturday night, by which time the Sphynx was also so much forwarded that a couple of hours more storing would have completed her. The Bants Telegraph sayi ;— " The destination of these vessels is unknown; but it is believed they will be joined by others steamers in the Downs, and employed in protecting our trade against any interference arising from the blockade 6i the Elbe by the Danes; our government, it is said, having determined not to respect that blockade, the Danes having been unable effectually to support it."--Times. We understand that Mr. Page Wood has accepted the appointment of Vice- Chancellor of the Duchy of Lancester, on the condition that he is not bound to give unqualified support to the Minister!^