NATIVE LAND SETTLEMENT COMPANY. MR REES'S MISSION.

Te Aroha News, Volume VI, Issue 280, 11 July 1888, Page 6

NATIVE LAND SETTLEMENT COMPANY. MR REES'S MISSION.

Auckland, J uly 4. ! Tin: following is a summary of the agreement between the Company and Messrs Rees and Wi Peve, which was laid on the able for the inspection of shareholders at the meeting' of the abovenamed Company yesterday :—: — Memorandum of agreement between the N.Z. Native /and Settlement Company (Limited), William Lee Rees, Uisborne, solicitor, and Wi Pere, of Gisborno, and the several persons move particularly described ia the first schedule hereto, and who are hereinafter called the Committees : Whereas the lands more particuluiy lefcrrcd to in the second schedule hereto are the property of the said Company, but by divers deeds and documents it was provided that the said Company should not sell or mort gage the same without obtaining the previous consent of the said Committees, or some of them, and further, that the .said Committees, or home ot them, were to icceive, on behalt ot certain aboriginal natives whom such Commit Lees repi esented, two-thirds of the proceed?- ot any sales ot the said lands, alter deducting the expenses connected with the managing and j selling the lands, and 01 cci tain moneys paid as part of the purchase money tor the said lands to the original owiicis thercol ; and whereas the Company i- indebted Lo various creditors in the sunn t_f Q 32,000 (more or less),- which hat been inclined as expenses in connection wi h ourying on the affairs and busmen otc. , and as the purchase money ot ceitain pioperties by the Company ; and whereas the moneys which the t-aid lands, before making a di\ision of such proceeds, amount to £144,000, or thereabouts ; and whereas the Company are the owners of, or are otherwise entitled to, the property and assets more particularly leferred to in the third schedule hereto, subject, however, to certain mortgages and claims affecting the .same ; and whereas the Company proposes to i.ii-,ethe sum of £130,000 by mortgage ovoi the paid lands, properties and assets reiencd to in the second and third schedules hereto to pay the debts of the Company, and has applied to the said Committees to give their consent to such mortgage ; ' and whereas the Commit - ! tees have agreed to give such consent, and i have also agreed to consent lo the sale ot all the said lands referred 1,0 in the second and third schedules for the purposes heieinafter mentioned ; and whereas the said Committees have requested the said Company to raise £135,000 by way of mortgage, instead of £130,000 only, in ordei that the surplus or sum of £5,000 may be paid to the said William Lee Rees and WiPere on behalf oi the said Committees, and have requested the Company to appoint W. L. Rees and Wi Pere as the attorneys or agents for the Company irrevocable for the purpose of gelling the said lands, and out of the proceeds to pay off the said mortgage, or to sell the said lands, and to hold the pioceed-s of such sale (if the lands be sold subject to fie said mortgage), or the balance ot the proceeds, after paying off the mortgage for atid on behalf of the Committee*, as trustees for certain aboriginal natives, represented uy such Committees. The Committees have also requested the Company to assign and transfer all the properties and asseits referred to in the thiid schedule (subject to all the charges affecting the same) to W. L. Rees and Wi Pore as trustees as aforesaid. The said parties do hereby mutually agree (1) that the said Company shall use its best endeavours to raise a mortgage of £135,000 over the said lands, properties, and assets mentioned in the second and third schedules, or such of them as it may find necessary to charge upon such terms and conditions as it may be able to arrange, in order to raise the said sum ; the Company will apply £13,000 of the amount to be raised towards paying oft the debts ot the Company and hand the balance or sum of £5,000 to the said W. L. Rees and Wi Pere, which said sum shall be applied towards paying the expenses of the management of the paid lands, properties, or assets, until sold as hereinafter mentioned, and to ward fe paying the expenses of selling the said lands, properties, and assets, and at such commission to \V. L. Rees and Wi Pere as may be agreed upon between them and the Committee. (4) The performance of the agreements on the Company's part shall release them from all claims which the Committees represent in relation to the said lands, etc. (5) The Company shall remove the names of all native shareholders trom their register of shareholders. (8) From and after — -\\\ L. Rees and Wi Pere shall manage the said lands, etc. , subject to the superintendence of a manager appointed with consent of the mortgagee; and W. L. Rees and Wi Pere will pay the principal and interest intended to be secured by the covenants, and also pay all rates, taxes and other moneys payable in respect of the said lands, etc. (10) If at any time hereafter it shall be considered expedient by W. L. Rees and Wi Pere the Company shall, at their request and cost, assign and transfer the said lands, etc., to the said W. L. Rees and Wi Pere to enable them more effectually to sell and dispose of the same. First Schedule—Referred to Native Com-

mittces. Second Schedule — Lands under Crown uranL system : Matawhero, No. 1 Block, Poverty Bay and Auckland, subdivisions 3, 4 and 5, containing 202 a 3r 28p, 145 a Or 16p, and 67a li- 22p : Pnkopaka Block, 600 a ; Makauri Block, 400 a; Ngakaroa Block, 1,500 a ; Tawapata Block, a : Te Kopua Block, 3,000 a. Lands under Land Transfer Act ; Motu, 2,000 a; Pakowhai. 5,099 a 2r 14p ; Kaipara, 253 a 3r 8p ; Manga f a No. 5, 50,075 a; Mangafa 3So. 6, 20,075 acres ; Tangihanga, 7,050 a : Okohutiu No. 2, 15,190 a; Wainafca South, 9,547 a; Waioala North (excepting Section 1 C) 4,420 a: Wainata East (excepting Section — ), 3,166 a : Mangaheia (excepting Section 1 C), 12,152 a ; Whataupoko No. 6, 1,000 a; Matawhero B or 5 block, 70a Or lOp ; other parts of jVlata whero 5 or B (oxcepting subdivision 1), 201 a 3r 3p ; Whataupoko No. 9, 6,716 a; Pauawa A, 1,591 a ; Pauawa B, Whataupoko, ; Hapara No. 3. 112 a, Or 4p, and 12a ; Paremata, 8,475 a ; Mangakura, 2,027 a. Thiid Schedule. — All the undivided estate, share and interest of the Company in the Mahia Peninsula, in the county of Wairoa, comprising WangaAvehi No. 1, Nukutaunia, Tawapata North No. 1, Tawapata North No. 2, Motere, No. 1, Motere No. 2, Kinekine and Kaiwaitau, Mananhcia No. 2, Tologa Bay and Cook County, Manga warau, Waipu ; Mangatu No. 1, 96,000 acres ; Poverty Bay, Tahia, Ng.itihaia, Tehiu, Kawa, Totara, Tafcahi, Te "Whitu, Mangatautari, Nokatoa, in Waikato, Auckland ; also any blocks of land in Waiapu or Wairoa upon which any moneys had been paid as part consideration or advances, whether upon request of the native owners or otherwise ; also Tangatetc No. 1 and No. 2, Te Kuiri, Waihohu and' Maiowai. All the sheep depasturing at Pakowhai or Wainui stations, or on Whataupoko block j the

right, title and interest of the said Company in Taoroa station, Waiapu. All indebtedness of Reperata Kahutia, deceased, to the said Company, £795 or thereabouts, and the securities for same. All shave, estate and interest in the leasehold of Kaiti block.