A.—3b.

20

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, coal, 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 mildness of the climate compared with that of other tropical countries will obviate many of the extra risks and dangers which might prove detrimental to the carrying out of the company's objects. 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. The number of stations at present contemplated is six, and they will be kept in communication with each other and the Australian ports by means of the company's steamer, which will carry cargo, mails, and passengers to and from the company's establishment. 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 foundation 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. The following quotations from recognized authorities will show the exceptionally favourable conditions enjoyed by this fertile land, and they will satisfy any inquiries as to the climate and temperature of the country. Speaking of the Island of New Guinea at the Eoyal Geographical Society, on 7th May, 1883, Mr. Wilfred Powell says (from a long experience), " A more beautiful and healthy spot for settlement than this can scarcely be found in any tropical country in the world. The coast is bold and steep, rising in many places sheer from the sea to the height of above 1,000 ft., and ranging inland to the mountains in terraces and table-lands of open grass country, with every facility for cattle raising, well watered with streams that take their rise in the heights some 15,000 ft. above." Admiral Moresby, at the same meeting, in indorsing Mr. Powell's statements, says, "It is a grand, a splendid, coast, abounding in beautiful harbours. The whole country is apparently very healthy and very fertile, with an enormous amount of cleared land, and the natives were friendly." Admiral Moresby further says of the island as follows: " The high range of mountains which run through New Guinea, with the numerous spurs extending to the coast, confer upon it a splendid river system. Some of the streams are known to be navigable for nearly two hundred miles into the interior of the country. From its very situation, New Guinea enjoys all the luxuriance of tropical vegetation. The cocoanut tree grows along the whole coastline ; the nutmeg tree is indigenous, and is plentiful in all parts of the country, so far as they are known, while the researches of later explorers show that the sago palm, the plantain, and the pineapple grow on the river fiats in great profusion and perfection. The island also produces the sugarcane, yam, and sweet potato, with arrowroot and rice as good as any grown in South Carolina. The timber is of the most splendid description, and consists of ebony, mahogany, the odoriferous rosameta-ragubuhu, much in request for cabinet-work, with the tree that prodjices the valuable massery bark so well known and prized by the Japanese for its medicinal virtues. The temperature is not so high as might be expected in a country in such close contact with the Equator, and thus adding the quality of humidity to the comparative coolness of the atmosphere. In this respect it contrasts strongly with the climate of the opposite Continent of Australia, with its barren and cheerless wastes of sandy, waterless, and almost treeless deserts." The only contracts entered into are No promotion moneys will be paid. Prospectuses and forinf of application may be obtained at the bankers' and offices, and of the company.