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Poverty Bay Standard, Volume IX, Issue 974, 31 August 1881, Page 2

Mr. James Browne, Trustee in Malcolm McLeod’s Estate, notifies that a dividend is now payable at his office,

It will give satisfaction to every genuine well-wisher to this district, to learn that the floating of the East Coast Native Land and Settlement Company has proved an unqualified success. One hundred thousand pounds’ worth of capital was called for, the greater portion of which has been already subscribed, while a few persons of influence had, at the commencement, offered to take, if desired by the Directors, any balance of shares remaining unapplied for at the closing of the lists. Whether it will be desirable to apportion such remaining shares at present or to add them to the ten thousand reserved to be disposed of in London to persons sent to the East Coast by the Company’s agents, will be matter for consideration for the Directors, as the capital already subscribed is more than is requisite for setting the Company vigorously to work. This success has been achieved in the face of untoward difficulties, brought about by very unworthy means for we are too sensible of the fact that certain residents in this district, having no regard for the general welfare, but only considering their private interests, or gratifying a paltry spirit of spitefulness, have been busily engaged in writing, and telegraphing to every part of the Colony, warning investors to have nothing to do with the Company. These communications were presented to the agent of the promoters, in every place from Auckland to Dunedin, while our local contemporary the Herald, lent its columns to the service of those who have ever been foremost in opposing the Company. We now learn that copies of that paper, containing an article and a letter full of misrepresentations of the objects of the Company, were disseminated in hundreds through every part of New Zealand, being sent to all the Provisional Directors, Brokers, and principal people in the various cities and towns of the colony. It is satisfactory, however, to learn that these efforts were generally appreciated at their proper value ; and many residents, in the South, especially, having had painful experiences already of Northern landsharks, and agents, and having a wholesome horror of the various go-betweens who hover on the borderland between Maoridom and civilization, bade cordial welcome to a project which seemed to have inspired such terror in the breasts of those whose lives had been devoted to systematic filching of Native lands. From whatever causes contributing, a great success has been achieved ; but it is to be hoped that public notice may be taken of the plotters w’ho have been endeavoring to baulk an enterprise so fraught with progress to the district, and prosperity to all—even to those who will not be reluctant to help themselves to the benefits conferred on the district despite their opposition. We learn that the shares in the Company have been largely taken in the South Island ; Otago, alone, having secured over a third of the whole number offered in the colony ; and it is further gratifying to learn that the shares every where are mainly held by those who, in making application, have expressed a desire to acquire lands for themselves and settle in the district. A first meeting of the Board of Directors will be held in Gisborne on Monday next. After the meeting we shall be able to state something more definitely as to the action of the Company.