I.—6c

6

Midland Eailway Company; (2) That there is no necessity, therefore, for continuing further negotiations with the company at present. Upon the Question being put, a division was called for, and the names were taken down as follow :—■ Ayes, 2 : Dr. Newman, Hon. Sir E. Stout. Noes, 8: Mr. Guinness, Hon. Sir J. Hall, Mr. G. Hutchison, Mr. Mills, Hon. Mr. Seddon, Mr. Saunders, Mr. Tanner, Mr. Wright. Motion lost. So it passed in the negative. Mr. Wright moved, That, in the opinion of this Committee, the Government should redeem from the company all its right of selection over the reserved area of about five millions and a half acres for the sum of £700,000, to be paid by debentures bearing 3-J- per cent, interest, in twenty half-yearly instalments ; and on completion of the work the unpaid balance of the instalments to bear interest at 3 J per cent, to the date of the issue of the debentures. No debentures to be issued in excess of half the value of the work executed prior to the completion of the whole work. After discussion, Mr. Wright asked leave to withdraw the motion. Motion withdrawn. The Hon. Mr. Seddon moved, This Committee (1) cannot see its way to recommend the acceptance of the present proposals of the company ; (2) that the Committee recommend the present contract be varied, so far as to enable debentures bearing interest at 3 J per cent, per annum being given in lieu of land-grants, conditionally on the company surrendering its right of selecting land within the reserved area; (3) that if the contract be varied, as recommended, the necessary extension of time be granted. Clause I.—Upon clause 1 being put, it was resolved in the affirmative. Clause 2. —Upon clause 2 being put, a division was called for, and the names were taken down as follows :— Ayes, 7: Hon. Sir J. Hall, Mr. G. Hutchison, Mr. Mills, Hon. Mr. Seddon, Mr. Saunders, Mr. Tanner, Mr. Wright. Noes, 3.: Mr. Guinness, Dr. Newman, Hon. Sir E. Stout. So it passed in the affirmative. Clause agreed to. Mr. Mills moved to insert, as an additional clause, "That if desired by the company, but so as not to be considered as any variation of the contract, the amount of debentures so issued may be funded by the Government in such a way as to spread payments over ten years in equal half-yearly instalments." Upon the Question being put, a division was called for, and the names were taken down as follow :— Ayes, 5 : Mr. Guinness, Hon. Sir J. Hall, Mr. G. Hutchison, Mr. Mills, Mr. Wright. Noes, 5 : Dr. Newman, Hon. Mr. Seddon, Mr. Saunders, Hon. Sir E. Stout, Mr. Tanner. The votes being equal, the Chairman declared in favour of the Ayes. So it passed in the affirmative. Clause agreed to. The Hon. Mr. Seddon moved clause 3. Upon the Question being put, a division was called for, and the names were taken down as follow :— Ayes, 7: Mr. Guinness, Hon. Sir J. Hall, Mr. G. Hutchison, Mr. Mills, Mr. Saunders, Hon. the Premier, Mr. Wright. Noes, 3: Dr. Newman, Hon. Sir E. Stout, Mr. Tanner. So it passed in the affirmative. Clause agreed to. The Hon Mr. Seddon moved, as clause 5, " That such extension of five years be from the date of the signing of the new contract." Upon the question being put, a division was called for, and the names were taken down as follow :— Ayes, 6 : Mr. Guinness, Hon. Sir J. Hall, Mr. G. Hutchison, Mr. Mills, Hon. Mr. Seddon, Mr. Wright. Noes, 3 : Dr. Newman, Hon. Sir E. Stout, Mr. Tanner. So it passed in the affirmative. Motion agreed to. The Hon. Sir E. Stout moved, That the motion as agreed to be referred to the House. Mr. Mills moved, by way of amendment, " That a Sub-committee, consisting of the Chairman, Hon. Sir J. Hall, Mr. G. Hutchison, and Mr. Wright, be appointed to draft a report based upon these resolutions, and that the resolutions as passed to day be printed." Upon the amendment being put, a division was called for, and the names were taken down as follow: — Ayes, 5 : Mr. Guinness, Hon. Sir J. Hall, Mr. G. Hutchison, Mr. Mills, Mr. Wright. Noes, 4 : Dr. Newman, Hon. Mr. Seddon, Hon. Sir B. Stout, Mr. Tanner. Amendment agreed to. So it passed in the affirmative. Besolved, on the motion of Mr. Wright, That the Committee adjourn until Wednesday next, at

1] o'clock.