NEW ZEALAND COMPANY.

Nelson Examiner and New Zealand Chronicle, Volume III, Issue 130, 31 August 1844, Page 103

NEW ZEALAND COMPANY.

The adjourned special meeting of the Court of Proprietors ofthe New Zealand Company was held March 29th, at New Zealand House, Broad-street Buildings. The critical state of the Company's affairs, and an anticipation that something would transpire as to future proceedings, drew together a numerous meeting of proprietors, who appeared to anticipate the business of the day with the utmost anxiety. Shortly after one o'clock the Directors entered tbe room, and the chair was taken by Mr. J. Somes, the Governor. The following report was then read by the Secretary :-— * " eleventh report op the directors os, the new zealand company. " It was not till yesterday that your Directors received an expression of the views of the Secretary of State for the Colonies with respect to the representations to his lordship mentioned in their last report. They were then honoured with some unofficial communications, from which your Directors understand, in the first place, that her Majesty's Government would be strongly disposed to entertain favourably a proposal for pecuniary assistance to be afforded by the Government to the Company, on the following conditions :—: — " 1. That such assistance shall not exceed £40,000 in the whole. " 2. That it shall be applied to the payment of the bills now unpaid, which have been drawn from the colony to provide for the employment of labourers, and to the payment of such other bills as may be drawn for the same purpose during the interval which must elapse before a report can be received from Governor Fitzßoy as to the state of the Company's settlements, and the steps which he may have taken in consequence: and, " 3. That the whole of the property of the Company, including that part of the capital which has not been paid up, and which the Company would be required to engage to raise within a limited period, shall be made liable as an available eeccurity for the repayment of such advance. " And, secondly, the Directors have received assurances of the desire of the Government to maintain the most cordial relations with the Company in carrying on the work of colonization : and that the instructions issued to Captain Fitzßoy were intended to have, and it is believed will have had, the effect of quieting the titles of those settlers who have obtained land under the Company, and of facilitating the acquisition by tbe Company of a valid title to the remainder of their lands. " There are, however, various points respecting the relations between tbe Government and the Company, which are of more importance even than any of pecuniary assistance, and without the satisfactory settlement of which your Directors think that nothing could be gained by . the acceptance of that assistance. The negotiation has not yet advanced to the settlement of these points ; and on these, therefore, it would be obviously improper to offer partial information, or enter into any discussion. " Your Directors consider it indispensable to tbe establishment of the affairs of the Company on a satisfactory basis, after the crisis that has occurred, that the points at issue should be settled as a whole. Having, therefore, as they considered themselves bound, stated thus much of the communications received from the Secretary of State, they abstain from all comment on the subject ; and they accordingly recommend that you should adjourn the present meeting until Friday, the 19th of April, assuring you that they should have much preferred an earlier day, were it not that the near approach of the Easter holydays precludes the hope of their being sooner able to lay before you the full information which you must receive before you can prudently determine on any course of future proceedings. " New Zealand House, March 29." The report having been read, The Lord Provost of Glasgow came forward to move its adoption and an adjournment to the day suggested. In so doing, he expressed " , Iris great respect for the Directors, and his per* feet conviction that in the interval they would do everything they could to advance the interests of the Company [hear, hear]. Though a stranger among them, he had been a shareholder from the very commencement of the undertaking. He had narrowly watched its affairs, and be was perfectly satisfied with all that had been done [cheers'!. Mr. G. RoßiNß*secondedthe motion, and expressed his entire concurrence in all that had fallen from the Lord Provost. He was satisfied that the affairs of the Company could not be in better hands than those in which they were at present vested [cheers]. Mr. Currie also bore testimony to the able management of the Company's affairs, and expressed his entire confidence in the Directors. The motion was about to be put, when Mr. Robins asked if the Governor thought a satisfactory arrangement with her Majesty's Ministers was likely to be arrived at? The Governor: Certainly; I think there will be a satisfactory adjustment of the points now to be arranged. Mr. Robins: Then, to give the Directors more time, I will move that the Court adjourn until Friday, the 26th of April, instead of the 19th. The motion was seconded, and carried «naid acclamation, after which the Court adjourned* ' In April, the three per cent consuls were *f par. * a drenmstance which has not oceuuedtatoSlw^ nearly a century. '"-.- ' ' v 'i3fc' l '' The Provincial Bank of Ireland 1u» reduWW> rate of interest on deposit* t»H per cent; -*"'" ' *