WASTE LANDS BOARD.

Waikato Times, Volume X, Issue 715, 16 January 1877, Page 2

WASTE LANDS BOARD.

A speoiai, meeting of the Waste Lands Board was held on Friday afternoon m the office, Shortland-street. Present :— Messrs D A Tole, Wa»te Land'B Commißsioner (m the chair), J 0 Firth, W P Moat, B Tonks, and De Campbell. MR BBOOMHALL. The Chairman read a letter he had received from Mr Broomhall, en Wednesday last, making certain modifications on the conditions submitted to the Board, and asking for explanations m regard to others. The Boards conditions and the modifications therein, submitted by Mr Broomhall, are as follows :— TEBM3 AND 00NDITI0N8 FIXED BY BOABD. li -That sufficient land be set apart to provide for Common School Education for the population introduced. 2. That Mr Broomhall shall erect not leas than 150 houses of weather boards, or other more permanent materials. Each house to contain not less than three rooms. 3. That the one-fifth of such total area of 45,700 acres shall be put under cultivation. 4. That Mr Broomhall shall bring out and place on the land 610 adult immigrants of 18 years of age or upwards, 2 persons under 18 years of age to reckon as one adult immigrant. 5. That as a guarantee for the due fulfilment of these conditions Mr Broomhall shall deposit with the Colonial Treasurer m .New Zealand the sura of £11,425 m cash, being at the rate of 5s per acre not bearing interest. 6. That the purchase money (£22,850) be paid by Mr Brooiuhall to the receiver of band .Revenue m Auckland on or before the Ist day of February, 1877. 7. That when the said purchase money of £22,850 shall have b.- en paid, and ihe said deposit of £11425 shall have been mace, a Crown Grant reserving ail precious metals, and containing the usual covenants to lay out roads snail be delivered fco the said John Broomhall. MODIFICATIONS StTGGEBT£D OR EXPLANATIONS EE3OIBED BY MB BiCOOMHALL. • 1. Desirous of knowing whetuer an endowment is contemplated by the terms of this condition. Willing to provide any necessary quantity of land on which to erect school buildings. 2. Cost of housis not specified. Propos'S to erect buildings of a minimum value of nob less than £60 each. 3. Suggests that the term cultivation be construed to include drainage. One acre of drained swamp to be reckoned as equal to two acres of cultivated laad. 4. That children above 12 venrs of age be reckoned as adults ; children under one year not to count ; but that any two children under 12 years of ago be counted as one aduit. 5 Regards this as an "anticipation penalty," proposes m substitution that ha ♦ deposit with the Agent-General m London £; 11,425 m New Zealand 44 per cent bonds, miuus the coupons up to the lab January, 1883, Buoh coupons from the same date to be oontinued as bonds. 6. That the purchase money, £22,850. be paid to the Agent-General m London on or before the 30lh June, 1877, m lieu of the Receiver of Land .Revenues m Auckland, on or before the Ist February 1877. 7. That on receipt by the AgentGeneral m London, of £22,850 m caßh, and £11,425 m New Zealand 4* per cent bonds, he telegraph the Government of the receipt, when the Crown Grant shall be prepared and delivered to the manager of the Band of New Zealand m Auckland ' on my account. < 8. With regard to remaining 54 309 acres, provided for m th.9 Act, Mr Broomhall proposes to Jook for it m one or more blocks at a subsequent period. The consideration of the eight paragraphs into which the letter was divid ed was then proceeded with seriatim. ' No. I.— fteservea were to be placed m trust for educational and religious purposes. 6 No. 2. —Agreed to. « N ™ B iT? was decid od on the motion of Mr Firth that one acre of drained swamp should be considered equal io ona acre of cultivated land. No. 4.— lt wag resolved to adhere to the terms of the original condition. No-f-Mr. Firth said he would be inclined to ask that the deposit should be doubled and the Colonial Treasurer advised to pay interest upon it. Mr. Broomhall a suggestion looked too much like -a speculation. He would be prepared, to move when other applications should be made for land, as he believed would shortly be the caso, that instead of the deposit being half the purchase-money, it should be equal to the whole of it. This would have the effect of restraining" any tendency to undue speculation. It was resolved to allow Mr. Broomhall to invest the deposit-money m New Zealand four-and-a-hald per «ent bonds on the understanding that the cpupons would nob be detached. ' No 6-Mr Finh expressed disappointment at hearing that Mr Bcoomhall had not travelled with a letter of credit a fact that was made evident by his anplying to be allowed to pay the money to the Agent-General. Mr Broomhall " should have been provided with a letter of credit,, so that when he should decide upon buying a block he might pay at onco the purchase-money. A gantleman employed m such a large undertaking should have been allowed credit, not to the extent of £20,000 alono, but to £100,000.

As it appeared from Mr Broomhall's that he intended leaving for Enguiad by the mail steamer on the 14th Jraitaary, nothing was Derceived whioh cofcld hinder him from paying the purchase money to the A gent- General before tbe 30 h June, and it was therefore deoided that the money should be pud on or before tbe 30th of April. No 7~Agr ed to. So t<— lgreed to.