PAPERSPAST

aha. towns in the most favourable situations, and the gradual re-sale of such lands ac- cording to the value bestowed upon them by emigration and settlement. It is also pro- posed that, to facilitate the transmission of capital between England and New Zealand, the Company shall act as agents for that purpose only. Such an undertaking affords peculiar ad- vantages to the employers of a large com- bined capital, and is further suitable to a Company, inasmuch as it can neither impede individual enterprise, nor is liable to the competition of individuals, and' is capable of being managed at little expense for agency, and upon a system of fixed routine. Very extensive tracts of most fertile land in situations highly favourable both for agri- cultural and commercial settlements, have been already purchased and, secured for the purposes of this and an expedi- tion has also been fitted out and despatched for surveying lihe coasts of New Zealand, making purchases of lands in .the '.most eli- gible spots, 'and {preparing for ;£he arrival of a ,lat!ge body of settlers, whom it is proposed •to establish on the Company's lands during •■the present year. These important purchases, and.the fitting out of the preliminary expedition, (including the purchase and equipment of a£ne vessel oif 400 tons,) have .been effected, .at a con- siderable outlay, by parties, to whom a cer- tain number of paid-up shares, to 'he -de- termined by arbitration, are consequently to be assigned for a transfer of their interests. Upon the remaining shares, a .call of 10L per share, (in addition to the deposit,) will be inade^ at the discretion of the Directors, with not less than one month's notice and all further .calls will be made at intervals of not less than .three months between each -call, and of which one month's notice will be given and no call, at any one time, .will ex- ceed 10Z. per share. The Directors are to have the entire ma- nagement and control of the funds, forma- tion, proceedings, and affairs of the Company, .and.are empowered to enter into any arrange- ments whatever which they may consider! -conducive to the interests of this under- taking, to prepare a Deed of Settlement! for the management of the Company, and to take any steps that may be thought proper relative to an Act of Parliament or a charter in aid of their plans, application for which -will be made with the least possible delay, and generally to adopt such measures and proceedings with reference to the grants, 1 and disposal of shares, or otherwise, as they shall consider expedient. The shares in the first instance will- be issued in scrip receipts, upon which will be indorsed the principal laws and regulations tiy which the Company is to be governed mntil a Deed of Settlement shall have been entered into, or an Act of Parliament have ■been obtained. Further information on every point con- racted with the Company may be obtained from the Secretary, at the Office. Jjondon, August 1, 1839.

TERMS OF PURCHASE FOR RURAL LANDS IN THE COMPANY'S SET- TLEMENTS. The company has already acquired very ex- tensive tracts of land in the North Island of, New Zealand, and has despatched two expe- ditions for the. purpose of .purchasing other lands, .and of selecting the most eligible dis- trict for the first andprincipal settlement. The company, in the first place, offered for sale 99,000 acres of country. land, and 990 acres of town land, in their first and principal settlement, after making reserves for. the special use of the natives. These lands thus, offered have been disposed.of at 11. per acre, thereby realizing to the com- pany a Jand fund of 99,990Z, and.the rights iJ of the purchasers thereof to priority of choice in the settlement have been determined by lot. The directors are now ready to receive applications for country lands, to tha extent -of 50,000 acres, in sections of 100 acres -each, at the price of 100?. per section, or 1/. per ;acre, to r be paid in full, in exchange for ■the land orders, which will entitle, the holders thereof, or their agents, to select country sections accordingly, either at the company's principal settlement, or at Hokianga, Kai- para, Manukau, the islands of Waiheke and Paroa, the borders- of the Thames, or any other part of the present or future territories of the company, so soon as the requisite sur- veys thereof shall have been completed. The' Holders »will therefore select, at pleasure, out. oT ail the. company's territories' which Shall then be surveyed as country sections, a sec-

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