NEW ZEALAND COMPANY.

New Zealand Spectator and Cook's Strait Guardian, Volume II, Issue 75, 14 March 1846, Page 4

NEW ZEALAND COMPANY.

A special Court of Proprietors in the above Company was held on Thursday, at the New Zealand House, Broad- street Buildings, for'the purpose of taking into consideration the general state of affairs, and adopting such measures as might be deemed most expedient. The report was read, stating that the Company had addressed suggestions to the Government for the better management of the colony. The suggestions had reference to two points, namely, the institutions by which New Zealand was to be governed, and the titles to land ; and they added that should their (the New Zealand Company's) suggestions afford means of a practical solution of these points, there would then be such an opening ior the renewal of their colonising operations, that they doubted not the Government would be willing to remove the only obstacle that would remain, by advancing such a loan as would be necessacy to enable them to act. These suggestions had not been complied with in all respects ; but arrangements have been assented to, which comprised a provision for the erection of municipalities in the several settlements, with considerable powers of self government, to be extended hereafter ; and for the introduction of delegates from those municipalities into the general Legislative Council of the colouy. With regard to land, possession was to be given of the lands awarded by the Commissioner, Mr. Spain, wherever those awards had been delivered by him, either in his judicial character, by virtue of his power under the Land Claims Ordinance — or in the character of an arbitrator, whose adjudication had been authorised by the representatives of both parties. The Directors entered into a lengthened statement as regarded the internal affairs of the colony. One portion of the report informed the meeting that a loan upon the security of the land had been promised, subject to the sanction of Parliament, to the extent of £100,000, under certain conditions. On the strength of the loan so promised, Messrs. Smith Payne and Smith, had alieady advanced a considerable portion, which had been shipped per Mary Catherine, to meet the current engagements of the colony. The Directors also informed the meeting that they had sanctioned the appointment of Mr. Fox as the successor of Colonel Wakefield. Mr. Lance moved that the several measures be confirmed, and thanks given to the Deputy Governor and the Directors. General Briggs rose with pleasure to support the resolution. It appeared that the colony of " Russell" was in danger of being destroyed : it was liable every day to be attacked, Yet it was gratifying to know that eighteen companies of infantry and one of artillery had been sent out by the British Government to support the interest of the Company in New Zealand. The motion was unanimously carried* The chairman, Mr. Aglionby, in returning his acknowledgements for a vote of thanks, stated that, having assisted to get the Company out of its' Dreient difficulties, be would still continue his

exertions until tlief proprietors were placed on a firm and permanent foundation. [We believe the appointment of Mr. Fox, alluded to above, is only intended to take effect in Che 'event of the death or resignation of Col. Wakefield, and was made at his (Col. W.s) suggestion.— Ed. N. Z. S.]