NEW ZEALAND COMPANY.

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

NEW ZEALAND COMPANY.

The annual General Court of Proprietors was held at the offices of the Company on Thursday, 31st May, for the election of Directors and the transaction of other business. H. A. Aglionby, Esq., M, P. in the chair.

The report, which is of great length and occupies a considerable portion of the New Zealand Journal, refers to the final se tlement of the disputes between the Company aDd its Resident Land Purchasers through the mediation of the Governor-in- Chief, to to whose decision the Directors express their intention of referring the claims of those non-resident land purchasers who, whether from the obstruction of natives or from the spot selected being valueless, have not yet obtained beneficial possession of the land to which they were entitled. It then alludes to the resumption of the sales of land and the revision made in the terms of purchase, the regulations for pasturage, and^ the proposed arrangements for conveying the land to the purchasers. After referring to the Nelson accounts and the extensive purchases of land in the Middle Island, the report states that the Directors had received information of Capt. Thomas's departure for Fort Cooper accompanied by Mr. Fox, for the purpose of examining that district with the view to selecting a site for the intended Canterbury Settlement. The Directors then allude, in terms of disappointment, to the form of government recently established by the Gover-nor-in-Chief; and after referring briefly to the earthquakes which occurred at Wellington last year, dwell at some length on the retirement from the directon of Mr. E. G. Wakefield, and on the death of Col. Wakefield, and Mr. C. Buller, and express an intention of founding a testimonial in memory of the last named gentleman, by adding a sum equal to that which can be appropriated from the College Fund at Nelson to establish a Collegiate Institution, to be hereafter expanded into a University to bear his name. The report then refers to the general prospects of the colony and the Company, and concludes in the following manner : — " In conclusion, the present position of the Company may be geneialiy recapitulated as follows : — All the obstacles which have hitherto impeded their operations have been for the first time entirely removed; the differences which had arisen between the Company and its colonists are settled ; an abundance of land is available for sale with a clear title ; regulations have been framed for the disposal of it ; and a machinery bas been actually set in motion for making the public acquainted *ith the advantages offered by the Company's settlements ; above all, the accounts received from the colony concur in representing its condition and prospects as eminently favourable. It is needless to enumerate the circumstances which have up to the present delayed the fulfilment of these conditions to successful colonisation. It suffices to say that they are how at length fulfilled, and that it only remains to be seen whether the terms offered by the Company will find favour in the eyes of the public. A twelvemonth must elapse lefore it becomes necessary to reconsider the arrangement now existing between the Government and the Company ; and on the progress of land sales during that period will entirely depend the nature of the arrangement which must succeed it. The Directors have so often had to deplore the disappointment of hopes apparently well founded, that they are anxious to abstain from expressing too sanguine expectations. They must leave it to the Shareholders to draw their own conclusions from the statement of facts which has been made, and they conclude by expressing their own belief that there is good reason to expect an immediate and extensive colonisation." The following resolutions were then unanimously adopted : — That this meeting do authorise and empower the Directors to make such application to Parliament, for 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. That our Principal Agent in New Zealand, for the time being, be empowered at any time, and from time to time, to nominate and appoint any person whom he may consider most eligible to act as his Successor in the office of our Principal Agent, in the event of his, our said 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 their place (subject to confirmation by the Court of Directors)and to confer on all and every the | person or persons so appointed by our said Principal Agent, such powers and authorities as the Court of Directors may deem advisable. That Alderman Sir JohnPirie, Bart., Alexander Currie, Esq., Alexander Nairne, Esq., Ross Donnelly Mangles, Esq., M.P., George

Frederick Young, Esq., Alderman William Thompson, Esq., M.P., be re-elected Directors of the Company. That the tlianks of this meeting be presented to her Majesty's Commissioner for the affairs of the Company, Charles Cox, Esq., for his Audit of the Receipts and Payments of the past year ; and that he be requested to audit the accounts of the year ensuing, on behalf ot the Compauy as well as of the Government. Before the proceedings terminated, Mr? Burnand proposed that Edw. Gibbon Wakefield, Esq., be requested to sit for a painting of himself, to be preserved by the Company in remembrance of his invaluable services, and that a committee be appointed to receive subscriptions for carrying that oliject into effect. This motion having been put by the Chairman, was unanimously agreed to. The proceedings then terminated with the usual vote of thanks to the Chairman and the Directors of the Company.