WARDENS COURT, TE AROHA. TUESDAY, NOV. 20th, 1888.

Te Aroha News, Volume VI, Issue 318, 21 November 1888, Page 2

WARDENS COURT, TE AROHA. TUESDAY, NOV. 20th, 1888.

(Before H. W. Northoroft, Esq., Warden.) Applications for Residence Sites : — A, A. Wallace, for residence site allotments, No. 129 and 130, Block 6, Waiorongomni. Granted. Applications for Protection: — P. Faes, for protection to work the Montezuma Special Claim, Te Aroha, with four men for three montl)8. No appearance of applicant. Application struck out. Fergusons Special Claim, etc.: — John Abbott, for absolute protection for Fergusons? special claim, water race, and machine site, Waiorongomai. ' [It will be remembered this application | was adjourned from last Court day.j On the application being called the Warden briefly referred to the whole circumstances of the case— so far as be could ascertain from tho statements made to him by the other shareholders, and from documents he had seen — which appear to be much as follows : — Mr John Abbott had advanced L6OO on the property to enable M r Ferguson to proceed Home and try and obtain capital to work tbemines^vhich, together with L2OO owing to Mr Abbott by Mr Ferguson made a sum of LBOO due M r Abbott. By the agreement drawn up ifc was stipulated that Mr Ferguson should have twelve months allowed him within which to form a company or otherwise dispose of tho property ; and should he be successful in doing this MiAbbott was to receive five per cent ,on the cash paid, one third 1 of the paid up share capital, and LlBOO ctu>h. The twelve months allowed expired last July without negotiations being com-j pleted for the introduction of fresh capital, but sinco then an offer of L2OOO had been made Mr Abbott in Ailf settlement of his claim on the prorerty, but this offer he refused to accept, threatening instead to foreclose ; and made application to the Warden for three juonths protection. The Warden said:* So long as the parties who had expended so much time and money in endeavouring to develope the property wanted the ground, he would, as far as was reasonable, try and assist them ;, but not for the ground to be held for merely speculative purposes. He was now informed that Mr Abbott has cabled Home offering to accept the L2OOO, and •he would further adjourn the application Tor foiirteeri days, in order that he might be satisfied as to the true position of 'affairs- He understood the Home capitalists declined to conclude negotiations whilst Mr Abbott, had a claim over the property. If he refused the. L2OOO offered, he would have to put on a man for every two acres. He understood Mr Abbott appeared to consider he had done a moat gcneious thing in consenting to accept L2OOO in settlement of his claim.