The Express.
London, England, 1850-07-02 00:00:00

THE NEW ZEALAND COMPANY.

The question for consideration at the adjourned
meeting of this company, to be held to-day, is whe-
thee they are to endue or discontinue their entire
operations after the sth instant. A draft proof of
part of the report to be submitted to the meeting is
before u.
The introductory pages of this document are de-
voted to a narrative of the circumstances under which
the arrangement of 1847 with her Majesty's govern-
ment (now approaching its terminatior) was entered
into, and the bill introduced in parliament the same
year to enable the local legislature to give the com-
pany power to comply is certain respects with the
wishes of the settlers withdrawn. Then foilowa a
suecirct and interesting narration of the principal pro-
ceedings of the company and the settlers from 1848
to the present time, extracts from which as supplying
the data upon which the meeting of to-day must (b-
-eide for proceeding or closing their operations we here
subjoin :

Early in 1841 titles stops were taken, based OR a farther
daveloprneut of the principle of reit!' clone unity, for the is.
tabliehnsant of the settlement of ranterbury, which it is e
'Meetly anticipated is, by its seals and character, on the eve
of aff.rdieg the most ample end satisfaetory proofs of the
fficacy of that principle in the work of colonisation.
In the establishment cf that rettlement, it eppearieg to
as to be important, both for the ultimate interests of the
shod:told. re and for the welfare of the company's settle-
ments previoualy esistirpt, that the adios of the site
should ba forthwith made, and the preliminary aurveys
proceeded wilt, we chewed it our duty to guarantee an
advance of 25,0001. for these purposes, notwithrandiag the
pcssiblity or its 'ablaut* an eventual necessity tor a
call u,-on the company's unpaid up capital. (See corms-
nodose* in "Parliamentary Paikrs of August, 1818," pp.
162 to 175 ) . _

A ri prelientatlna was submitted, showing the letups-
dieney of separating New Plymouth from the °term settle-
ments of the company, and placing communities baring a
camases origin and inure at in different provinces, and,
;wham wetter different forms of government. This wag
communicated to the governor by Earl Orgy, in a de•patst
dated the 28th of Fenruary, 1818, and alter some corres-
pondence was finally approved by a further despatch dated
the 22nd of Dec. miter, 1849. (See Parliamentary Papers,
August, INS, pp. 137, 178; and 18.50, pp. 26, 24.5 )
In February, 1549, were brought to a plint, and finally
completed u the June following, the long.protracted neg tee
tiations with the Nanto•Dor 'elitist Company of France, by
which was extinguished foreign ownership in New Zealand,
and that course of proceeding was consummated by which,
at its very outset, the company bad become the instrument of
rescuing the entire Nand from being made the seat of a
foreign settlement, and that (it is believed) a penal one.
In the session of that year a hill was introduced
in'o parliament, and an act passed, which, by facilitating the
execution of conveyances by or on behalf of the compstey in
N w Zealand. will very much increase the security of pur-
chasers of its lands.

The terms of purchase were revised, so u to render them
more simple and uni.orm in the 000000 I settlements. Terms
of pasturage were devised and adopted ; and steps were
taken for the introduction, at the earliest moment and to the
fullest silent which might be compatible with e elating en-
gagemen.s, si other end more beneficial arrangements, in
the•conditions of purchase and other details.
Alter repeated and envious endeavours to determine
whet rule it would be proper to adopt, in adjusting the se.
counts of the portion of the proceeds of land sales applicable
to speei d purposes in the settlement of Nelson, a ataternect
w.s in February, 1850, submitted to Earl Grey, of the
principles shirk on the whole appeared to meet most
gui.ably the circumstances of the ease. An answer has not
vet teen received.

Details are given in the statements annexed, Noe. 1 to 3,
of the lands sold to private individuals, end of sums received
for the same, since the sth of April, 1847 ; of the ship.
chartered by the company, and of pesengers conveyed
therein, since the same date ; end of the manner in which
the sums at the company's commend have been expended
during three years ot the same period.
From the first of these it will be seen that the land sold
eo private individuals from the said date up to the present
time has amounted to 13,582 acres, and the sum received for
the same to '27,9741, cr on an ge to shoat 4,526 acres,
and 9,3251. pail'. This is exclusive of the quantity sold by
the Canterbury Association.
From the second statement it wit appear that the passen-
gers conveyed to the colony during the tarns period, in 18
ship chartered by the company and 3 dispstched under its
sappy sion, of the aggtegate burthen of 12,541 tons, have
been 2,4-5.
Be the third statement it is shown that, *exclusive of
25,0001. invested in government securities and 8.6211, crate
advances to the Cantee.ury Association, the payments dur-
ing the three years c immencing on the 6:b of •pril, 1847,
rtve been 20:3,3911.; and that, out of this sum, debentures
and other liabilities incurred prier to that date amounted to
6'1.2151, leaving • balance, of L:5,1731.* Also, that cut of
this balance the sum applied to the establishments, office and
law expenses and contingencies, in England and New Zaa-
lend, has been 47331,1' or about 11,5751. yearly : that to
emigration Service have been applied 47,3381.; to surveys,
11,4331. ; to roads and other public works, 1,175. ; to colo-
nial incidents' 6,8081 ; and to cores shipped, 4,2001. ;
making a total, of what may be considered as expenditure
purely colonial, of 73,9551.*; and, lastly, that to the pur-
chase of land, and the expenses incidental thereto (including
the settlement of some disputes) have been applied the fol-
lowing amounts, via., purchases from private individuals,
8,1061.; from the Nanto-Birdelaiee Company of France,
6,7691.; from the native., 9,6371.; and in the case of
Messrs Scott Grace and others, 2,1,731.: yielding • to:al of
26,3861.
But perhaps the most instructive statement is No. 4, whets
as it were, compares the proceedings of the company with
themselves, and the contents cf which may be thus scalped.
The time during which the company has been in existence—
namely, from its es'ablishment in May, 1639, to the present
month of June, 1850, or about 12 years, may be divided into
three distinct periods; the first extending from May, 1839,
to the interruption of the company's proceeding's, in conse-
quence of the interference of the government in January,
1843 ; the second from January, 1843. to the formaeion of
the first party of Otago colonists in November, 1847, under
the arrangements agreed upon in the preceding May; and
the third from November, 1847, to June, 1850. The accom-
panying statement shows that the results of the company's
measures during these three periods It-ye been respectively
as follows,

During the first period, which may be termsd that of the
company's comparative freedom, and which comprises some-
thing m-re then four years, the lauds disposed of amounted
to 211,619 acres; the ships despatched by the company we re
57, of the average burthen of 460 tons each ; the naueegers
conveyed by those shipi 8,600, or about 2,155 yearly.
During the second period, or that of external interference,
whim- extends over upwards of four year' and a half, the land
disposed of was no more than 6,389 acres; the company
itself chartered but one ship, of 3,50 tons; the wh.le number
of passenger' to whose conveyance in that and other vessels
it became instrumental was but 666, or about 145 yearly.
During the third period, or that of imperfectly restored ac-
tivity, which comprises about two years and a half, the lands
disposed of have been 19,061 acres, exclusive of sales in
Canterbury, and additional grants to original land pur-
chasers ; the shins chartered and despatched by the com-
pany, 184 of the average hurthen of 625 tons each ; the
passengers conveyed, 2,424. t or about 970 yearly. The
aggregate of the three periods is 270,073 acres disposed of,
exclusive of sales in Canterbury and additional grants to
original land purchasers; ships chartered by the company,
76,t and 19 despatched under its supervision, making toge-
ther 95y vessels, of the both= of 46,578 tons; passengers
conveyed, 11,6804
The effect of the measures thus adopted, upon the minds
of the colonists, may be best stated in the language of persons
residing on the spot.
At a meeting of the "Settlers' Constitutional Association,"
held at Wellington on the 17th of September, 1849, regain-
tiers were passed, stating among other things that—
" Taking into consideration that all native disturbances
are quelled—that all the differences between the company
and the land purchasers have been finally arranged—
that the most amicable relations have been firmly este-
blushed between the company and all classes of
its settles—and that the company are now in possession
of some of the most fertile ann available districts in
New Zealand, which are open for sale and depasturing
licensee—this eausistion is firmly persuaded that the New
Zealand Company has now, for the first time since its
formation a fair field for its tolonismion operations, with
every reasonable prospect of such operations being produc-
tive of ben. fits equally to itself as to the colonists."
From Nelson, the resident agent, Mr. Bell, wrote thus on
the 15th of December, 1849:
" Perhaps the mist important events that have occurred
this year have been those relating to the land question
under the agreement of 1847, including the re-selection of
accommodation lands, the arbitration of claims for compen-
sation, and the s y of the native and European towns at
Quern Charlotte's Sound. I believe it may now be said
that the landowners resident here—those who came
out to found the settlement when its very site was
mere coniecture—are now perfectly sati.fied and con-
tented. I continually hear with pleasure expressions of
contentment from persons whose previous condition while
the land question remained unsettled was one of continual
grumbling and disgust ; and the dreadful words, ' Clams on
the Company ' and ' Compensation no longer mix in every
conversation, nor keep up irritation and strife in the public
mind. Even those who do not think they got quite enough
in the recent arbitrations, are willing to say no more about
it, now that the whole question is definitely clued. It is
tree that there yet remain two or three cues which from un-
avoidable C1f0,113114111131/ hate not yet been disposed of, but
these also will soon be got rid of."
The following is an extract of a private letter from Mr.
Halos, dated New Plymouth, 9th February, 1850:
" The above adjurment and the company's shipping ar-
retirements have erased all differences formerly subsisting
between the company sod its settlers. Land only is now
wanted, and the obtaining it must depend upon the govern-
ment. The settlement is established beyond all chance of
accident. The people seem, and are, content( d and pros-
perous. The new comers Sr. setting themselves to work.
The only suggestion that occurs to me, arising out of resent
impatches from the court, is that agriculturists should have
the preference in anisted passages, and that among the de-
mentia servants prososed to be sent out, dairy women should
not be overlooked."

• Several of trine amounts will bo Mamma by payments marls
during the quarter ending on sth Jul , HOU.
t These umbers wilibo emeelly by the &vet& of the
Phrebo Umber,

The subsequent part of the report adverts to a
letter from the directors to Lord Grey, which is to be
laid before the meeting, and enters into an explana-
tory statement of the delay which has occurred in
presenting it to the shareholders. This narrative
terminates abruptly with an intimation that the
statement is "to be continued at the client st moment
that the requisite information may be obtained by the
directors." A statement of the company's receipts
and payments how the 6th of April, 1847, to bth
April, 1830, are subjoined, as also of the ships
chartered by the company for emigrants.