THE NEW ZEALAND AGRICULTURAL COMPANY.

Colonist, Volume XXII, Issue 2514, 22 February 1879, Page 5 (Supplement)

THE NEW ZEALAND AGRICULTURAL COMPANY.

In our cablegrams from .England it was recently announced that the prospectus of a "Stew Zaaland Agricultural Company," with a capital of one million sterling, had been floated in London. The Company is one which it was generally understod was to be floated by Mr Larnach when he left for England, more than a year ago, but it was then scarcely thought that it would assume the large dimensions that it now appears to have done. Several large landowners in Otago and Southland have apparently agreed to " throw in" their properties together with the runs owned by Mr Larnach, and thus float a gigantic Land Compauy, with its headquarters in London. The properties to be taken over are, we believe, certain freehold and leasehold estates, as f0110w5:—167,769 acres of freehold, partly under cultivation and improved; 141,675 acres leasehold, subject to very low rentals. The stock comprises 167,500 sheep, 112, head of cattle, and 85 horses. For these properties, the owners have agreed to accept tho sum of £1,070,000, whiah is equal to about £d 7s 6d. per acre for the freehold, with the leasehold and improvements given in. One of the objects of the new Company is, we learn gradually to break up some of the estates into farms ranging from 200 to 1000 acres each in exteut, aud to vigorously cultivate the agricultural portions of the estates which may be retained on behalf of the shareholders. The scheme has evidently been well considered by the vendors, but whether Euglish capitalists will readily yield to the solicitation to send another million of money to New Zealand upon the terras and conditions set forth in the prospectus remains to be seen.—Auckland Herald.