the duty. In the meantime the event which in December last I informed you I anticipated, has occurred. The time has arrived when I can no longer draw for funds applicable for the purchase of Waste Lands. If the Company should, as contemplated by its existing arrangements with the Home Government, have determined to wind up its affairs, it will, on the 5th. July next (10 days hence) cease, as regards all active operations, to exist. With reference to this fact, and looking to the instructions which I have received from the Court of Directors, I can no longer undertake to provide funds for the purchase of the Waste Lands, or the payment of allowances to the Commissioner employed in effecting it.