NEW ZEALAND COMPANY.

Wellington Independent, Volume I, Issue 54, 11 March 1846, Page 3

NEW ZEALAND COMPANY.

(From (he Weekly Dispatch of Cct. 19, 18<J5-}

A special Court of Proprietors in the above Company was held o.n Thursday, at the Ne* Z aland House, Broad-etreet building, lor the purpose of taking into consideration the general mate of affaire, and of adopting such measure as rr.i*ht be deemed most expedient. The report was" read, stating that the Company hart addresseJ suggestions to the Government lor the better management o f the colony. The suggestions Lad reference to the two points, namely, the institutions Uy which New Zealand was to be governed, and the tide* to land ; and th,ey added that shou'd their (the New Zealand Company's) guggeslions afford means for a practical solution of these points, there would then be such an opening for the renewal of their colonising operations, that they doubted not the Government would be willing to remove the only obstacle that would remain, by advancing such a loan as would be necessary to enable them to act. These suggestions had not been complied with, in all respects; but arrangements have been assented to, which comprised a provision for the erection of municipalities in the se7ertl fet L-insnts, with considerable powers of self-government, to be extended hereafter; and for the introduction of de;egates from those municipalities into the general Legislative Council of the Colony. With regard to land, possession was to be given of the lands awarded by the Commissioner, Mr. Spain, wherever those awards had been delivered by him, cithei in his judicial character, by virtue of bis powers under tae Land Claim* , Ordinance—or in the character of an arbitrator, whose adjudication had been authorised by the representatives of both panics. The Directors entered into a lengthened statement as regarded the internal affairs of the col.ny. One portion of the report informed tue that a loan upon the security of the land had been promised, subject to the sanction of Parliament, to the exu-nc of ,£IOQ,OOO, under cettain conditions, On the strength of the loan so pramised, Messrs. Smith, Payne, and Smiih, had already advanctd a c n»idersble portion, which had been shippei per the Mary Catherine, to meet the Gurrent eugageim nu of the colony The Directors also informed tue meeting that fhey bad sanctioned the appointment of Mr. Fox as the successor of Coloue] Wakefi.ld. Mr. Lance moved that the several measures bu confirmed, and thanks given to tie Deputy Governor, and the Directors. Gene.al with pleasure to Eupport the resolution. it appeared th 4 the colony of " Russell was ia dinger of being destroyed; it was iiabl• every day to be attacked. Yet it was graiifyiag to krow that eighteen companies of infantry and one of artillery had been sent out by the Btitish Gove.nment to support the interest of ihe Company ia New Zealand. The motion was unbnimously carried. The Chiiirm.au, Mr. Agli,nby, in reiurhing Lis aikn.-w- - a vute of ilianks, stateu taac, having assisted to get tae Company out of its present difficulties, ha would siiij continue his eienions until the proprietors were placed on a firm and permanent foundation.