New Colonisation Scheme.

Thames Star, Volume XIII, Issue 4347, 6 December 1882, Page 2

New Colonisation Scheme.

A meeting of Koman Catholics was held last evening at St. Joseph School, Willoughby street, at the invitation of Mr •James Cook, managing director of the Colonial Land, Settlement, and Endowment Association, to learn the plan of operations the Company proposed to adopt. '■■';■-

Mr Cook stated the objects of the Association to be as follows: —Ist, to purchase land, &c., in various parts of New Zealand or elsewhere, and to give facilities to the working classes of purchase and settlement on easy terms of payment. 2nd. To, lend money at interest for educational or church purposes. 3rd. To receive money on deposit at interest. 4th. To, grant loans on approved security, and to assist industrious settlers. sth. To provide for Catholic educational purposes an annual sum from the profits as an endowment not exceeding fifty per cent, of profits, and to be apportioned according to the number of shares hell in each-parish, or as may be decided by the directors. 6th. To establish beaches or agencies at the discretion of the directors, 'at any place, to promote the interests of the Association. 7th. To establish, when necessary, a Resident Director in Britain, to be appointed by the Colonial Directory for the time being, to promote the in» terests of the Association, and to send out settlers to the company's lands. These objects were proposed % be car* ried out by means of a company, which had been formed and duly incorporated, the present directors being the. Hon. William Clifford, Vernon, Marl borough ; Charles Redwood, Esq., Riverlauds, Marl* bo.Tough, and Mr Cook himself. The capital of the company was fixed at £250,000, in 100,000 shares'of £2 10s each, to be called up,'2s 6d per'share on application; 2s 9d per share on allotment; - and afterwards in quarterly, payments of 2s 6d each. It is not obntemplated to cill up more then £1 per share. The company had as yet ob-iined no land, nor were they actually in treaty for any, but <they had been offered two blocks—one of | 16,000 acres on the Patea River, at 7a 7d. per acres, which had been, fully put through the Court, but which the coaipany\ had made no decision regarding, pending a* director visiting and reporting upon the the nature of the land. The other block offered consisted of six or seven thousand acres, the price being 15a per acre. No shares hed as yet beea subscribed for on the Thames but large numbers had beea taften up in Wanganui and the West Coast. Half of any profits derived from the company's dealings in land was to be devoted to the sustenance of the Catholic schools in the colony, the other half to bo divided among the shareholders. The clergy had taken up a greater number of shares in proportion to their numbers than any other, section of the Catholic community. There were from 2O.C:D to 30.CC0 shares applied for altogethbf, or for which the applications were comicg in. It was then moved' by ; Mr Landers* seconded by Mr Tooher, and earned* " That, taking into consideration the good purposes for which this, Association was started, this meeting approve of it, and pledge themselves to do all in their power to promote its objects,"^ after which numerous shares were taken up. We refer our readers to an advertisement in another column of local director and agent having been appoint^.