The shareholders in the body corporate are the collective owners in the land. It is clear that the Act safeguards their interests as any fees or any distribution of profits is only possible when authorized by a general meeting. It appears that the Maori Land Court can withhold the appointment of committees of management as the members are subject to its approval. It appears also that members of these committees of management need not be beneficiary owners within the block. The shareholders in the land who make the decisions concerning any distribution of the profits in this respect have a different function from those in a joint stock company in which the directors recommend a dividend which the shareholders may adjust only downward. The Act, by providing for enterprises other than farming, by stating the purposes for which it is formed has opened the door to other pursuits connected with the land. The Puketapu Incorporation which is engaged in large-scale timber milling operations shows the extent to which incorporations can enter into propositions other than farming. It is envisaged in this case that as the timber is worked out the land is developed for farm settlement and any land unsuitable for this purpose can be utilized in a scheme for re-afforestation. The Maori character of the incorporations is being preserved. The family or tribe are the shareholders, their shares are their relative interests in the ancestral lands they have inherited. The continued use of the Maori Land Court, instead of the Registrar of Companies, keeps alive this Maori character. Under the 1953 Maori Affairs Act, the Maori Trustee may buy what is known as uneconomic interests. These shares are of a value of less than £25, but he is bound to offer these shares first to the body corporate as a whole. If the body corporate does not want to buy them the Maori Trustee may sell to any owner in the incorporation but the law does not allow him to sell to outsiders. Incorporating Maori land ensures that it always remains within the family or tribal group, nor can there, so far, be any possibility of alienations. Lands, owned by communities and administered by incorporations, are used to a great extent to provide amenities for their shareholders. Housing for their shareholders is one of these. A large Wairoa Incorporation provides houses for its workers who are also beneficiaries. A settlement has sprung up dependent upon the work on the Incorporation which has its own school. Special rates for timber for housing purposes are provided by another Incorporation. They cater for and foster the education of promising youths and girls. A group of Incorporations in the Wairoa district have inaugurated a Farm Training Scheme whereby selected youths are sent to an accredited agricultural school. They are assured of employment after training, on the incorporated blocks. Any particular abilities they have shown during their training is noted. Thus a youth showing aptitude in animal husbandry or another youth in farm machinery could well take over the control and application of these highly specialized aspects of farming. While there is close co-operation with the Department of Agriculture and the veterinary service it is hoped that more young Maoris may take up veterinary work and it would appear that the Wairoa incorporations are prepared to finance such a step. There is no reason to prevent incorporations engaged in other propositions from providing finance to further any specialized knowledge in the industry in which it is engaged. The provisions of education grants looms largely in the activities in the incorporations. There is little doubt that they recognize the importance of training and education of their people to take up responsible positions. A cluster of Incorporations in the Wairoa district has evolved a system whereby one of the blocks operates an imprest account for works which might be called Maori welfare. These include education grants and the support of the marae complex of the Maori social system. Each of the other blocks pay into the central one their share of the moneys required for these purposes. (A schedule of the month's accounts, which shows the extensiveness of the undertaking, will be available at the Conference.) A bulk store is also operated which provides the blocks with their larger requirements such as fertilizers and fencing materials. Group buying of stock replacements and requirements is carried on extensively. There does not appear to be as yet any large-scale attempt to develop a breeding farm for this purpose. This is a highly-skilled and long-term operation and, although the Mangatu Incorporation has started on something of this nature, (a bull bred by this incorporation was Supreme Champion of the Poverty Bay Agricultural and Pastoral Association Show a few years ago) it will be many years before well-bred stock replacements can be produced in sufficient numbers to satisfy all the demands of the incorporations on the East Coast. Meanwhile the stock-breeders in the Manawatu and other parts of the country find a ready market with the incorporations. There is to be found today a large number of Maoris who are absentee land-lords. The money obtained from their shares in the blocks are insufficient to keep them. As a result they are forced to do other forms of work and tend to move away from their home districts. A relatively small number of the owners can be employed within the framework of the incorporations. Perhaps some consideration may have to be given to the provision of finance for small ventures in trade and business for the beneficial owners. But there does not seem to be any provision in the Act for loans of this nature. Nor does there seem to be any attempt to attract large industries to ⋆ ⋆ ⋆ (continued on page 52)