LATEST AUCKLAND NEWS.

Waikato Times, Volume XXXVII, Issue 3023, 28 November 1891, Page 2

LATEST AUCKLAND NEWS.

(BY TELEGRAPH.—OWN CORRK3PONDBST.) Auckland, "List Night. With regard to the settlement arrived at between the Bank of Now Zealand Estates CntiiiJiiny and the native-: interested in the New Zealand Native Lind Settlement Company, we learn that the arrangement come to was as follows Two-thirds of the Estates Company's claim, with interest to date, is to be paid in cash, the balance to stand against the unsold lands for a term of live years, carrying interest at current rates, the mortgagor's having tlio right of paying off the mortgage and relieving the lands at any time within the period. This, while securing to the Estates Company the whole amount of the money advanced upon these lands with interest, liberates to the natives properties valued at about £70,000, and removes all complications to titles which have proved a bar to profitable occupation. Some valuable blocks cleared by the adjustment that has been made were not under the mortgage to the Estates Company. At the Board of E iucati-m to-day, a motion was moved that all head teachers on being removed from one school to another shall ba paid by the succeeding teacher a fair value for any crops, fruit trees, or vegetables planter) or left on the school grounds. After discussion, the matter was deferred for a fortnight.