BRITISH AGRICULTURAL COMPANIES. From Our Own Correspondent.) London, November 27.

Otago Witness, Issue 2289, 13 January 1898, Page 6

BRITISH AGRICULTURAL COMPANIES. From Our Own Correspondent.) London, November 27.

NEW ZEALAND AGEICULTUKAL COSIPANT.

Iv connection wite fche liquidation of the Naw Zealand Agricultural Company, a plan for the adjustment of th® cluims has been proposed by the committae who, at the meeting on the 6th, January last, were appointed to- confer with tho receiver. It consisted of Mr Wiliiim Rose Smith, of the Temple, London ; tbe Rev. H. Martin, the VicirAge, Stockton-on-Tees ; and Mr J. K. Robertson, of Ediaburgh, The committee summarised theic plin as follows :— "The main feature will be that a company will ba formed with an authorised oapitaf in debentures equal to tha amaunt of the value thereof as ascertained, and thafc a share capital will also- be authorised, being a small percentage thereof to ba voluntarily subscribed by each entrant to the company. It is obvious thab some money must ba raia<sd to ps^y for the expenses incurred and to provide an adequate working capital. It isr hoped that a large proportion of tho debsniureholdero will subscribe for this share capital, to which, however small in amount it may be, will come any surplus pse-fit after paying eff the debentures. It is believed that by a judicious selection of the land to be acquired, undar the most competent advice (which the oonusaittee hays means of obtaining), and by careful realisation and skilled management, not only will tha par value of debentures of the n«w company be realised, but that with a return of prosperity in tho colony a considfirable surplus may result. It ie intended that the h&ldors of debentures, while retaining a Scab