THE SETTLEMENT OF THE PATETERE LANDS.

Waikato Times, Volume XXV, Issue 2047, 20 August 1885, Page 2

THE SETTLEMENT OF THE PATETERE LANDS.

Tin: London correspondent of the N. Z Herald, writes as follow-- on tins 3id July : — 1 stated in my List lettui tho heads of the geneial agreement enteied into between the deputation of the seudois of the Pateteie land and the company which h.id taken it over— the Thames Valkv L.md Company. There was some reticence with lefeience to tlie agreement, but mv statement pioves to hii\o been coriect. Since tho despatch of my letter the conip.my h.nc had a meeting at their offices m (riaceclm r oh-stieot for the pmpo«o of Approving the agreement modifying the ongtnal conti.ict with the vondois. The meeting was stated to be held in anticipation of tho annual meeting in consequence of the anxiety of the deputation of the vendors to return to their homes. Thuch.iirm.ui refeirod to the delay m the completion of the wulwiy to Lichfiuld, winch would now be consti acted l>y (Jo\ornment, and to the diihcnlty that has been found in laising money on debentures or from sale of the land. Aftei nartating the cone^pondencc <tnd comniunications that had pi^ed betu een thecoinpiny and the deputation of vendors, the Chairman of the lioard united the shaieholdeia to accept in substitution for theeutiie quantity of land in the contract 1(58,000 acies fully paid for. Tlie company would then ha\ c no liabilities, except about £40,000 of delmntuie.s, and no nece^ity .would ariso foi issuing more debentures ur making a call foi rtome time. A. lesolution proposed, approving of tlie modified agreement between the \cndms and the company, was, after s»me discussion, unanimously agreed to. Tho members of the deputation having satisfactory thus ananged the business mi which they had come, are prepaung to lea\e. Mi lv U. Walker leaves to-day by the Kaikouia ; Mr Rich waits for the Done, on the LSth ; Mr Dilwnrth goes by the Ai awa, in the middle of August ; Mr Pounds returns by Anieiica and Mr Laishley, who, though not of the deputation, represented ceitam intcie-ts of absent \endors as well as his own, took a laige hlkuo hi the negotiations, loa\esne\t month by way of Anieuca.