TELEGRAPHIC.

Wairarapa Daily Times, Volume 5, Issue 1529, 7 November 1883, Page 2

TELEGRAPHIC.

Press Association. NEW ZEALAND NATIVE LAND ' SETTLEMENTS COMPANY. Auckland, November 6. Tho second annual meeting of tho shareholders of the New Zealand Native Land Settlements Company was held to-day, the Hon, Dr, Pollen, chairman of directors, presiding. The sohedulo of the proporties attached to the balanco shee give the following particulars with reference to the blocks dealt with:—Number of properties, 30; aoreage, 827,403 acres; estimated value, £275,901 lCs 9d; estimated liabilities and cash payments due, £7G,IBG 14s 8d ; estimated profits to natives, .£85,905 Is Gd.; estimated profits to company,_ £42,952 10s lid, being commission in land to the company on the transactions of the year; paid up capital of the company. £31,213. As no land sales of any magnitude had taken place, it was deemed advisable to defer the payment of dividends until the sales contemplated were effected. Tho Chairman, in moving the adoption of the report, said he had only to state that the direotors, acting on authority confided in them by the articles of association, had authorised Mr Thomas Russell, who had himself a very large pecuniary Interest in the company and had taken a very active share in its promotion and its operations, to dispose of 3000 shares in England, and to appoint, if he found it necessary, a local directory in England of five persons; and generally, if circumstances on his arrival there wero found to be favorable, to make arrangements for the formation of a new company altogether, with the. same purpose aa this ono, into which the present company might be absorbed, Shareholders would bo aware that a number of gentlemen of considerable influence and position in England had taken a very large interest in tho disposal and tho settlement of native lands in this colony, It was thought possible that if an amalgamation in some shape or nther could be effected in England with these gentlemen, and Mr Thos, Russell hud received from the directors such power as they wore able to give him to offect anarrangomont of that kind. Of course, before any settlement oould bo effected, the consent of the shareholders must bo obtained, and they would bo consulted in the usual courso. Mr G. Aickon soconded tho motion which was carriod. In reply to Mr Aicken, the Chairman said proposal of a final and a formal character had been made to the Auckland Native Laud Colonisation Company a3 to amalgamation, but no reply had been received up to tho present time, Tho Hon. J, Williamson, J, C, Firth, Dr. Campboll, and Mr Seymour Goorge, tho retiring directors, wero roolocled, A special mooting was then held, at which tho articles of association were altered, so that the directory might bo increased from 10 to 30, Tho object of the directors in this proposal is chiefly to give an opportunity for certain London gentlemen being placed ou the directory,