NEW EDINBURGH.

New Zealand Spectator and Cook's Strait Guardian, Volume II, Issue 70, 7 February 1846, Page 3

NEW EDINBURGH.

We publish the following conditions of the agreement between the Directors of the New Zealand Company, and the Association of lay members of the Free Church of Scotland, who have undertaken to promote the colonization of Otakou, which has been received by the Mary Catherine. 1. All arrariglnienta with regard to tlie settlement of New Edinfmrgh formerly intended, to be considered as j.t an end. 2. The association of Lay Members of the Free Church of Scotland, as reported by the General Assembly of May 1845, to be recognized as the party to promote the settlement now contemplated. 3. The lands to be sold under the following arrangements to persons brought forward or approved by the' Associatio n; and the Association^ (including those parties) to carry out the enterprise otif ihelr o.wn jirinCtnJes, and so far as possible in their own name, igekMflg only to the Company for such assistance a|»d acts of Trusteeship in the* mallei of surveys, emigration, and general proces; Qf founding the settlement as may be requisite. 4. the site aUte**Ul«n«w to be at Otakou, in the Middle Island of New Zealand, on the land purchased from the natives by Colonel Wakefield, under the sanction of the Local Government in July, 1844. 5. The settlement to comprise one hundred and forty four thousand six hundred acres of land, divided into two thousand four hundred properties and each property to consist of sixty acres and a quarter, divided into three allotments namely a tov/n allotment of a quarter of an acre, a suburban allotment of ten acres, and a rural allotment of fifty acres. 6. The 2,400 properties to be appropriated as follows namely,-*-2,000 Properties or 120,530 acres for sale to private individuals. 1 00 Properties or 0,025 acres for the eatat c to be purchased by the Local Municipal C*ttV£?»tnent. 100 Propertied or 6,025 acres for the estate to be purchased by the trustees for Religious and Educational uses. 200 Properties or 12,050 acre 3 for the estate to be purchased by the New Zealand Company. 7. The price of the land to be fixed in the first Usance at forty shillings an acre or £120: fth 0 a property ; ta, be charged on the estates of the Municipal Government, the trustees for religious and educational uses, and the New Zealand Company in the same manner as in the 2,009 properties intended for sale to private individuals, and the purchase money, £289,200 to be appropriated as follows :—: — Emigration (three eighths) Civil uses (io be administered by the Company,) viz. Surveys and other expenses of founding the settlement, roads, bridges, and other improvements, includings;eavn,ifhere* after deemed expedient and if the requisite funds be found available (two eighths) 72,300 Religious and educational uses (to be administered by trustees) (one eighth) 36,150 The New Zealand Company on account of its capital and risk (two eighths) 72,300 It is to be observed that from the sum of £36,150 to be assigned to the trustees of religious and educational uses will be defrayed £12,050, the price of the 6,025 acres to be purchased as the estate of that trust. In like manner out of the sum of £72,300, to be assigned to the New Zealand Company, will be defrayed £24,100 the price of the 12,050 acres to be purchased by the Company as its estate. But the 6,025 acres constituting the estate to be purchased by, the Local Municipal Government,.must.be separately paid for by that Government ; and until payment therefore of the price £12,050, together with colonial interest thereon,, the land will be held by the administrators of, the fund for civil uses, with power to dispose of the same, if such payment be not made within one year after the completion of the sales of the remainder of the two thousand four huudred properties. 8. The Company to reserve to itself the power of increasing the price above mentioned after the first ballot and from time to time as may be arranged after consultation with the Association. 9. In consideration of the consent, given by the Directors to contribute to the emigration, and other special funds in the same proportions as private purchase! s, on account of the two hundred properties to be reserved as the Company's estate, in lieu of those properties being free of charge as <ras originally intended ; and in consideration of the expenses to which the Company is subjected in its general superintendahce of the interests of the severaL settlements, and which ought to be borne injdue proportions by die several settlements respectively ; the Company to be entitled' td make a charge in' addition tp expanses

incurred fpedftcally tot .tne • ei^ewtaV* &* rate of five per cent on the gross proceeds of the 2,400 properties ; such charge to be debi* •• ted to the funds for " Emigration" and fot " Civil Uses," or to either, as may be found most convenient and beneficial. 10. Tracts of land containing coals or othervaluable minerals not to be included in the allotments for sale or appropriation, but to be reserved by the Conipauy with a view to insure to the community the advantage of such minerals, without compromising the interests.of - the Company, or unduly interfering with pri- " vate enterprise. 11. Reservations to be made so far as may be practicable of the sites of villages and tdwns, With suburban allotments adjacent in the several parishes and hundreds to be laid out in accordance with the Government fegujatigfls - on this head. 12. In laying out the chief town, 4^yfovisions to be made for public purpoteW-is ; fortifications, public buildings, baths, wharff, quays, cemeteries^ squares, a jjark, and Other places for health and recreation ; for all which instructions have alrealy been given to the Company's' Principal Agent. 13. The first party of colonists including free passengers, to be of sufficient numbers to entitle them to an act of municipality,' but to be dispatched by one or more embarkations and to be based upon the sale to private individuals of not fewer than four hundred properties or one fifth of the whole scheme. 14. Two years from the date of the first embarkation to be allowed for the dispatch of the second fifth ; and one year for each successive fifth afterwards ; the term of five year* therefore to be thus allowed to the Association for completing the sales in the proportions above mentioned, and on their failing in any of these proportions the Company to have the option of disposing of the remaining lands to other parties. But in the event of the whole two thousand properties being sold to private individual* within the said period the Association to have the refusal, on such terms as shall then be agreed upon, of the whole remainder or such • part of the entire block of four hundred thousand acres as the Company shall have retained in addition to the quantity first comprised in the settlement. 15. A. deposit of £12 : 10 on each property to be paid to the British Linen Company in Edinburgh, or to Messrs. Smith, Payne and Smiths, bankers in London on the Company's account, and the banker's receipt to be produced and filed, previous to any application being ' registered at the Company's house. Public notice to be given of the day on which the residue of the purchase money will be required. In case of default in payment of such residue by the day appoiuted, the deposit to become thereupon forfeited to the Company, together with all claim of the applicant to the land applied for. 16. On payment of his purchase money each purchaser to receive, for each sum of £120 : 10: Oso paid, there separate land orders, namely, for the town quarter acre, the ten acres of suburban land, and the fifty acres of rural land respectively. These lands to be severally selected according to priority of choice, to be determined by ballot, as hereinafter mentioned. 17. Three several ballots for priority of choice of the town allotments, the suburban allotments, and the rural allotments, in manner to be arranged by the Court of Directors, to take place at the Company's house in London, in the presence of the Directors, and of such purchasers or their agents as ma; attend after public notice given. The priority of choice, with regard to the' estates of the Local Municipal Government, the trustees for religious and educational uses, and the New Zealand Company, to be defer"- . mined by'ballot in the same manner as for thfe propei ties sold, to private individuals. 1 8. An arrangement to be-made 4a4ae first ballot, so that any party purchasing two or * more properties may, with respect to rural allotments only, take' them in contiguity ;* pro? .• vided that notice in writing of his wish to that effect be given to the Company three clear days previous to the drawing ; and provided ' that such right of choice shall not extend to land on both sides of any river or main road* . Every practicable facility to-be gitfen" fc>r^the like purpose in succeeeding ballots. ' * 19. The choice of allotments, according to' the right of priority determined as above mentioned, to take place in the settlement; .as' soon after the arrival of the first body of colo*. nists as shall be appointed, and under such, regulations as shall be prescribed by' the, Company's Agent duly authorized in th^t* behalf. Neglect or refusal to comply with such regulations in regard to any allotment, to occasion a forfeiture of the purchasers right of choice and to vest it in the Company's officer on behalf of such purchaser. - 20. The first ballot not to be held until at least four hundred properties have been sold to private individuals as before mentioned. The parties to that ballot to be allowed to

select out of < the whole o? the town .'and suburban allotments, -but -(if their number do not much exceed four hundred) out of only half the intended number of lural allotmerits. Upon foot liundred properties Tjeing sold as nbdve mentioned, the Municipality, the trustees for religious and educational uses, and the New Zealand Company, to be respectively entitled 'to select we half of their whole estates mnd to be included accordingly in the ballot-; but to be required to -pcy for those eitntesrateably only according to the number of properties actually sold to "private individuals. 21. fifty properties to "be placed at the disposal of the Company's agent for sale in the colony at the following increased prices, each kind of allotment being sold separately If so desired by the purchaser, namely town land £40 per allotment, suburban land £40 per allotment, rural land £100 _per allotment. . 22. individuals desirous of proceeding to the colony in '(he intervals between the first and. second ballots and approved by the association, to be allowed to make purchases at such increased prices as may be decided on after consultation with the association as provided for above in paragraph 8. 23. The whole proceeds of such increased prices to be in all cases appropriated (by eighths) in the same proportions and manner as the proceeds of the first ballot. -24. The association (including the purchasers and colonists whom they may bring forward) to prepare a deed of constitution for church and schools to the trustees appointed by this deed, the funds (or religious and educational uses' to be handed over, as collected, on the completion of each party. All officers connected with these uses to be appointed by the said trustees or association^ and in this a"llH>ther matters the association to have respect to the full exoneration of the Company from responsibility at the earliest possible period. 25. The emigration fund to be applied as may be decided on from time to time, after consultation with the association and the selection of free passengers to be entirely to them. *-SO. The expencesof the association to be met in the first instance by the Company, to |he extent of five hundred pounds ; it being understood that, with the exception of a paid secretary at the rate of one hundred and fifty pounds a year, the members of the association are to act gratuitously, travelling and other necessary expences to be covered by the sum stated, -which in the event of success, will be charged 'with the Expences already incurred, under the former arrangements, to *he fund for founding the colopy. 27. Subject to the modifications mentioned in the fbregoing paragraphs, and with the exception Hfi 'officers -and funds relating to religious and educational uses, the appointment of officers and the management and of the several funds to be vested altogether m the Company, so -long as the 'Company sballlje under the responsibility of any trusteeship for the settlement ; but all reasonable attention to be paid by the Court of Directors to the recommedations of the association. • -28. In case of any difference arising between the Company and-arry purchaser, with respect to the construction of these presents, 'or the execution of any contract founded thereon, such difference to be decided by two arbitrators, one to be named by each party, or by any umpire to be named by the arbitrators. 29. The register of applications to be opened on such day as may hereafter be debided oik 30. The seventh resolution adopted by the association oa the 16th of May last, expressing their confidence in Mr. Cargill, being in harmony with the sentiments of the Court, Mr. Cargill to be announced its appointed the Company's resident agent for the settlement. His salary to be the same as that of the late -Captain Wakefield, the resident agent for Nelson; <and like his, to 'commence en embarkation.

(,'ITILIANa.