THE AGENT-GENERAL AND MR. LARNACH’S COMPANY.

New Zealand Times, Volume XXXIV, Issue 5813, 15 November 1879, Page 2

THE AGENT-GENERAL AND MR. LARNACH’S COMPANY.

In the Loudon Times of 25th September there appears a letter from the New Zealand correspondent, in which reference is made to a discussion which took place in the Legislative Council relative to the floating of the New Zealand Agricultural and Pastoral Association, and to the connection nf the Agent-General with that enterpiiso. In The Times of the following day there appeared a letter from Sir Julius Vogel, in which he asserts that of his own knowledge three members of the Ministry certainly,-and. as he believes, the whole of the Government, were cognisant, and of course approving, of the assistance given to Mr. Larnach in launching his scheme. We reprint that portion of the correspondent’s letter which relates to the subject, and also the letter nf Sir Julius Vogel, to which we hare referred

The subject of tho connection of the AgentGenera!, Sir Julius Vogel, with the New Zealand Agricultural and Pastoral Company, which has figured so frequently in the columns of The Time*, has been under discussion iu the Legislative Council. The Hon. Mr. Waterhouse and Sir F. I). Pell both strongly impugned the action of the Agent-General iu becoming chairman of the company, on the ground that it was virtually giving the countenance and sanction of the Government to a mere private speculation, and, to a certain extent, making the Government guarantee the accuracy of the representations made by the promoters. It was argued that the position of the Agent-General in his capacity of a member, and particularly chairman, of a landspeculating company was quite incompatible with his position as agent of a Government largely engaged in selling the colonial lands and promoting immigration to the colony. The impropriety also of hiis receiving some £20,000 promotion commission while a salaried officer of the Colonial Government was strongly commented on. It was asked, “ whether, if tho Agent-General was to be permitted to puff this particular land speculation, he was not bound to aid any other speculator to float any scheme which it might he desired to make attractive to the British capitalist.” A good deal was also said about the “ rabbit controversy and it was hinted that the gentleman who had certified to only seeing seven rabbits in three days must have imitated Lord Nelson when he turned his blind eye to the signal to discontinue action. The discussion was at last brought to a close by the Colonial Secretary announcing that the Government entirely disapproved Sir Julius Vogel’s action, and had already by telegram directed him to discontinue his connection with the company. “On receipt of the intelligence,” said Colonel Whitmore, “ the Government at once telegraphed to Sir Julius Vogel to get out of the thing as quickly as possible. We did not wish to embarrass him by ordering his instant withdrawal, but we let him know that out he must go.” It is to be hoped that the prompt action of the Government will relieve it and the colony from being in any way held responsible for countenancing a scheme justly open to the severe criticism to which it has been subjected. “THE NEW ZEALAND AGRICI7LTU“BAL AND PASTORAL COMPANY. “ TO THE EDITOR OF THE TIMES. “ Sir, —In reference to the remarks concerning myself which appear in the letter of your New Zealand correspondent in Th s Timet of to-day, you will, I hope, allow me to say in reply that three members of the Government, of my own knowledge, were aware that I was assisting in organising the company, and to tho best of my belief the whole of the Government were aware of it, although I had not received a formal official sanction- I had previously urged on the Government to place land for sale here to meet the wants of the investors, bat was informed in reply to the effect that there was a sufficient demand m the colony for the land the Government had to offer. “ With regard to the insinuations as to the value of the company’s land, I have culy to observe that the directors, including myself, took the most satisfactory means of assuring ourselves as to that value ; nor have we any reason to doubt that the purchase was very favorable to the shareholders. We have had telegraphic information concerning the Erst sale" held last week, and notwithstanding the commercial depression which prevmli. ia New Zealand, the sale realised £20,000. The quarter-acre township section* netted £45 each, and the agricultural land averaged £ls per acre. The following is the exact text o t the "telegram ;—‘Just held first sale lands ; immense success. Two new townships average £45 • section agricultural land, £ls ; total, about £20,000. Result caused great excitement here, and practical answer to detractors.’ —I am, &c., “Jdiims Toffim. “ London, September 25.”