A.—3b

16

Enclosure. The New Guinea Trading Coepoeation (Limited). —Incorporated under the Companies Acts, 1862 to 1883. Capital, £250,000, in 12,500 shares of £20 each. Payable—£ per Share on application ; £ on allotment; and the balance as required. Prospectus. This company is formed for the purpose of trading with the natives of the Island of New Guinea, and developing the immense natural resources of what is considered to be probably the richest island in the world. Although the information possessed by Europeans with regard to the interior of New Guinea is still very meagre, it is well known, from the reports of credible persons who have navigated and explored the coasts, that along the northern coast-line the natives are numerous, industrious, and friendly; they raise large quantities of tropical produce, and have shown themselves willing to exchange their productions for European goods. Their crops include among other things the most valuable varieties of tropical vegetation, such as spices, camphor, gums, sandalwood, ebony, tobacco, sugar, and vegetable ivory, besides which birds of paradise, pearls, tortoiseshell, and other exotic products are to be met with in abundance. The mineral resources of the island are as yet unexplored, but ample evidence exists to prove that the mountains of the interior contain gold, iron, tin, copper, and other minerals, for the working of which the numerous rivers afford ample facilities. In the higher land of the interior, which ranges from I,oooft. to 15,000 ft. above the sea, are numerous table-lands, affording extensive fields for the culture of grain crops of all kinds, and the breeding of cattle and sheep in large numbers. The pursuit of agriculture and stock-raising in New Guinea will, in the future, be of the highest importance to the food supplies of the world, as the universal presence of ample supplies of water will enable the farmer to compete on the most favourable terms with the occupants of the arid flats of Australia. The company proposes to immediately despatch a large and fully-equipped screw steamer with a full cargo of such articles as are considered to be the most useful for opening up a trade with the natives. The staff who go out will be instructed to open friendly relations with the different tribes at the places where the steamer calls, and to obtain permission to erect trading stations for the collection and exchange of the produce; each of these stations will thus form a nucleus of civilization for the surrounding district. This system has been proved to work in the most satisfactory manner on the Congo and other African rivers, and there is no doubt that it is equally applicable to New Guinea, the people of which are probably more advanced than most of the uncivilized peoples which have been encountered by early pioneers of commerce. As this company will be purely a commercial enterprise, without any ulterior political motives, the question of annexation or land acquisition will not affect its operations, although, if the British Government should decide to assume the protectorate of the island, this company, as the first trading body in the field, will acquire a most advantageous position. The commercial history of Great Britain conclusively proves that in all times corporations of this kind have been of the greatest advantage, both to the country at large and more particularly to the acute and far-sighted individuals who have embarked their capital in such enterprises. We need only allude to the East India Company, the Hudson's Bay Company, the Falkland Islands Company, the Canada Company, and many others. It should also be remembered that many British colonies were originally planted by similar companies. By opening New Guinea to British commerce this company will lay the foundations for the eventual settlement of the islands in a peaceful and regular manner, thus advancing the outposts of civilization, and, while affording a new outlet for the teeming population of this country and facilitating the utilization of a most fertile region, it will shed the light of progress over another of the dark places of the earth. At this stage it would be premature to attempt any estimate of dividends, but it is only necessary to refer intending investors to the history of previous enterprises of the kind to prove that the profits accruing from this class of business are very large. In the enclosed pamphlet will be found a number of corroborative opinions on the Island of New Guinea from the pens of a number of well-known authorities on the subject. The only contracts entered into are No promotion moneys will be paid. Prospectuses and forms of application may be obtained at the bankers and offices, and of the Company.

No. 20. The Colonial Office to Brigadier-General H. E. Maclvek. Sib, — Downing Street, November 3, 1883. I am directed by the Earl of Derby to acknowledge the receipt of Captain Kennerley's letter of the 24th of October and yours of the 2nd instant, in which an interview with his Lordship is requested in relation to your projected company in connection with New Guinea. These letters will receive his Lordship's early attention, and a further communication will be made to you on the subject next week. I am, &c. Brigadier-General H. E. Maclver. Eobeet G. W. Hebbeet.