New Zealand Spectator, AND COOK'S STRAIT GUARDIAN. Wednesday, October 17, 1849.

New Zealand Spectator and Cook's Strait Guardian, Volume VI, Issue 439, 17 October 1849, Page 2

New Zealand Spectator, AND COOK'S STRAIT GUARDIAN. Wednesday, October 17, 1849.

By the Enterprize copies have been received of the Report of the Directors of tlfb New Zealand Company, presented to the shareholders at their annual meeting. The Report, of which we have given a brief outline in our present number, is unusually long, and touches upon the principal topics of the past year, in many respects an eventful and important one in connection with the history and fortunes of the Southern Settlements. The Report takes a very favourable view of the Company's present position and prospects, describes all obstacles to its operations to be entirely removed, all differences to be adjusted, and all the conditions to successful colonization fulfilled* But they remind their shareholders that only twelve months remain, —one short year of grace, — before the expiration of their present arrangement with the Government, and that their future prospects and stability entirely depend on the progress of the land sales | during that period. The Directors abstain from indulging in sanguine expectations, and leave the shareholders to draw their own conclusions : they tremble in the balance, — which way the balance will eventually incline has already been anticipated by Mr. E. G. Wakefield, but lately one of their most influential Directors, and well informed as to the prospects and means which the Company have of retrieving their position. The total receipts for the sale of land at Otago (the only land which appears to have been sold during the past year), are £11,206 : 10s., and half of this amount was deposited the previous year ; this sum, which may be regarded as the receipts for the sale of land for two yews, we apprehend would barely suffice to pay the expences of the Company in the colony during that period ; the extent of their sales then, must very | greatly exceed this amount to falsify Mr. Wakefield's predictions and afford the Company the slightest chance of continuing its operations with advantage. A few months will suffice to decide this question. One subject included in this report, is at present of deep interest to the majority of the settlers, we allude to the conveying by the Company to their purchasers of a legal title to their lands. We are informed by the Report that with a view of simplifying the form of conveyance, and reducing the expense, a mode of procedure has at length been devised in which, subject to the necessary powers being conferred by the Legislature, provision is made for conveying to the purchaser an unimpeachable legal title, and for securing to the Company a valid discharge from its fulfilled contracts. We infer from the resolution passed at the Meeting that these powers would be applied for during the current session of Parliament, in which case we may expect shortly that the necessary arrangements for this purpose will be completed, and conveyances of their lands issued to the different purchasers, a measure which will in a great degree be facilitated by the proceedings of yesterday.

. We alluded some time back to a report that Charley of Porirua,the brother of Puaha, had been murdered at Poverty Bay, and in a following number mentioned some circumstances which served to throw discredit on the report, and to show that it wanted confirmation. We have since learned that Charley is now staying at Otaki, and that the report is entirely without foundation. The Independent contained a very circumstantial account of the murder of Charley and other natives, describing the nature of their wounds, &c. which of course turns out to be mere invention.

Yesterday being the day appointed, at the previous meeting of the Resident Land Purchasers and holders of Compensation Scrip held last month, for reselecting and exchanging sections, there was a numerous attendance of landholders at the New Zealand Company's Office. Several sections were thrown up, and the principal amount of exchanges effected 'were of country sections for town sections in Wellington belonging to the New Zealand Company.