East Coast Native Land Settlement Comp any.

Poverty Bay Standard, Volume IX, Issue 968, 10 August 1881, Page 2 (Supplement)

East Coast Native Land Settlement Comp any.

(From the N. Z. Times.) Yesterday afternoon a meeting of the provisional directors ot this company was held here. -I’resent —Hon. W. H. Reynolds, (m the chairX Messrs J. S. M. Thompson, Allan Macdonald,. M.H.R., H. Bastings, M.H.R., Q. A. De Lautour, M.H.8., R. C. Reid, M.H.R., R. H. J. Reeves, F. J. Moss, M.H.R., and G. M. Reed. The appointment of Messrs J. M. Dargaville, J. Friar Clarke, Allan Macdonald, J. B. Poynter,: J.. S. M. 3 h unpson, C. A. De Lautour, Wiremu Pere, and Major Ropata. as managing directors, to hold office for twelve months, was approved, the consent of these gentlemen to act having been obtained, and their selection agreed to by the provisional directors in Auckland, Dunedin, &c.

Paora Parau, Native Assessor, was present, with Mr. Hatfield as interpreter, to give* .the meeting the views of the Maoris, and any information tlkat might be desired. He was questioned at length by the chairman, and statedjth'at be and ’his people and the Maoris of Poverty Bay -‘fully tfhder* stood the purposes of the Company, and cordially agreed in its formatioh. That it was no new thing, as it had been long talked over by the Natives in Poverty Bay; and that many large owners of land were anxious to see it placed in the company’s hands. Paora did not-see that there could be any difficulty’ about 'the Trust Commisioner passing deeds conveying land to the company. If he objected to owners taking the company ’a .shares in. part payment, they ■eduld-W’ paid- in' cash, and then buy shares with the money. But tliey wanted the company to have the land, as they would share in the profit mtide upon it. All the Natives’ understoofltthis thoroughly. They did not intend to part -with their lands for cash at the prices,for,which they were filling to putthem into the coinpan y.

As to the objection that the shares of a substantial coifiparfy would not satisfy the Ttrtst Comniissioneb a's- a valuable consideration, Mr. Thompson and others pointed out that the satpe difficulty about the Trust’ Commissioner had been raised in .floating the West jCoast Railway Company, ‘but hadCbeetf dispelled“on consideration, and after legal advice had been obtained. ,

Paora also stated that there were very large blocks of land on the East Coast available for the purposes of the company, and pointed out on the map many of them which he knew 7 the owners were ready to have at once transferred to the company. He had been present at the meeting when the company was first formed, and when all the articles of association had been interpreted and fully considered by the Natives, who had then given their consent to the formation of the company. As to the titles, Paora stated that wherq the Natives throiigh their chiefs and committees, were agreeing parties, there was no difficulty. Arrangements were made by, the Ow ners to put into the title of lands Intended to be alienated the names of natives selected by themselves, and in whom they had confidence. These would deal with the coujpany, and there would be no difficulty. It was only when private speculators bought land, that difficulty had arisen through their offer persuading the weakest in the tribe to sell when the others did not wish to do so. That was the cause or so much trouble in some cases. It would not be so w'hen the chiefs and committees w’ould be dealing with the company. * ■ ■ It was resolved on the motion of Mr. Bastings, seconded by Mr. J. S. M. Thompson, *■* That the lists of applications for shares should close at the various branches of the Colonial Bank, and at all the brokers’ offices on Saturday, August 20, and that advertisements be inserted accordingly.” With the usual vote of thanks to the chairman, the meeting then adjourned.