Page 3 Advertisements Column 3

Poverty Bay Standard, Volume IX, Issue 958, 6 July 1881, Page 3

The Government having abandoned the Purchase of Native lands, the Native owners in the Poverty Bay and East Coast districts being strongly desirous of opening their lands for settlement, in a manner mutually beneficial to {themselves and such Europeans as may be desirous of becoming associated with them on the principles proposed in the Prospectus, have, after making provision for their own requirements, entered into contracts for passing over large areas of valuable land to the Company, at prices based on those of former Government purchases, receiving shares in payment for the same. It is anticipated that the Company will be able to dispose of its lands to great advantage, as under its e ntrol, and with its guarantee, title will be absolutely good, while all lands purchased will be at once placed under the Land Transfer Act, and will be sold from time to time for cash, or on long deferred payments, and generally in accordance with the regulations guiding the disposal of the Waste Lands of the Crown. The Capitalist Shares will be preferential, having secured to them a minimum of eight per cent, per annum as a first charge on the profits, with a further division of profits in proportion to the capital invested. Five Directors will be elected by the Capitalist Shareholders, and four by the Original Shareholders, the qualification of a Director being the possession of not less than fifty shares. The Capitalist Shareholders will, under regulations, be entitled to purchase Lands of the Company for their own bona fide occupation surrendering their shares in payment, which shall be accepted as value for ten per cent, over the amounts paid up. The Native Shareholders will also be entitled, under regulation, to select reserves for their own occupation, surrendering their shares in payment. Ten thousand shares will be set apart for sale in Britain to intending bona fide settlers, and an officer of the Company will be located in England to send out Special Settlement Parties for the Company’s Lands. To prevent the improper diversion of the Natives’ interests, original shares given in the purchase of Lands will not be transferable without the consent of a Native Committee, and the approval of the Directors. On these principles it is believed that the formation of the East Coast Native Land and Settlement Company will provide for the Natives the readiest and most beneficial method of placing their Lands for sale and settlement, while the great and growing demand in Great Britain among intending emigrants for Land in the Colonies, and the ever unsatisfied demand for land among would-be settlers in the Colony itself, the well-known fertility of the Poverty Bay and East Coast Lands, their suitableness for extensive settlement, and the greatly enhanced value which must be inevitably given to Lands there situated by the promotion of settlement in this wholly undeveloped district, combine to present, to capitalists investing a prospect of remuneration, and an extension of sphere for the operation of capital, probably unequalled by any other proposal yet submitted in the Colony. The Memorandum of Association may be seen in the hands of the Solicitors and Brokers of the Company, and detailed prospectuses and forms of application for shares may be bad from the Brokers and at the various Offices of the Colonial Bank of New Zealand, also at the Office of the Company, E don Chambers, Gisborne. The list of applications for shares will be positively closed at Wellington, on Saturday, the 30th July. 249

IN BANKRUPTCY. In the District Court of Hawke's Day, Colony af New Zealand, liolden at Gisborne. In the matter of “ The Debtors and Creditors Act 1.876,” “ The Debtors and Creditors Act Amendment Acts 187879,” and in the Bankruptcy of GEORGE BURGESS of Gisborne, Bullockdriver. TAKE NOTICE that the above-named George Burgess intends to apply to the Court for his discharge on the 18th inst. or so soon thereafter as he may be heard. Dated this 2nd day of July, 1881. W. L. REES, 246 Debtors Solicitor. IN BANKRUPTCY. In the District Court of Hawke's Bay, Colony of New Zealand, holden at Gisborne. Tn the matter of “ The Debtors and Creditors Act 1876,” “ The Debtors and Creditors Act Amendment Acts, 1878-79,” and in the Bankruptcy of EDWARD O’MEARA of Gis’orne, Surveyor, a Debtor. AT the request of the above-named Debtor I hereby convene a general meeting of Creditors in the above estate, to take place at the offices of Messrs. Rogan and Nolan, Gladstone Road, Gisborne, on THURSDAY the 7th day of July, 1881, at 2 o’clock in the afternoon, for the purpose of enabling the said debtor to apply for a certifi ate recommending his discharge. Dated at Gisborne this 2nd day of July EDWIN WOON