The Sun.
London, England, 1851-12-01 00:00:00

APRIL.

Epsom Spring
Newmarket Craven ... 12 Mahon .22
Abergavenny l5 Newmarket F. S 26

MAY.
Chester Spring
Newmarket S. S.

LONDON,

possess land, they would want an encumbered estates
court in this country next year, which would dispossess
halt the landowners of their acres, and a great deal
more.

The report was eventually adopted, and the proceed-
ings terminated with the usual compliment to the
chairman.

NEW ZEALAND COMPANY.

On Friday an adjourned annual meeting of the
shareholders in this company took place, at the com-
pany's house, Old Broad-street, by the transaction of
general business. The chair was occupied by
Mr. Aglionby, M.P., Chairman of the Board
of Directors. The Chairman stated that an
arrangement had been come to by which they
expected shortly to be able to pay off Baron
Goldscuid's claim of 10,0001. The Union Bank
of Australia was willing to let its claim of 15,0001.
stand over for a year, upon receiving collateral secu-
rity. The Canterbury Association had not yet sold
sufficient land to enable them to liquidate the 25,0001.
which this company had advanced. It was not due
till the end of December. The association would
pay from time to time the sums they had agreed
to pay towards its liquidation ; and the other
sums mentioned in the Act, arising from
the sales of land, would be paid to the Go-
vernment, and by them paid to the company. As yet,
they had had no official statement from the Govern-
ment of the quantity of land sold. Application
had been made to the company by the Government
to deliver up their seal and charter ; but the applica-
tion was not pressed. Acting on counsel's opinion,
they had refused to deliver them up. With refer-
ence to the Government proposition the chairman
said they were aware that, under the recent
Act of Parliament, their principal of 268,0001,
with 3f per cent. interest thereon, was secured
upon the proceeds of the land sales ; and he had
always been sanguine that those sales would go
on, so as to enable them to pay all expenses, and that
by and by, as the colony progressed, there would be
money coming in. The arrangement which the Go-
vernment had consented to was this—that they should
continue to receive from the sales of land in the old
settlements those amounts of money which in the
prospectus were called the "Vendors' Fund." They
would also continue to pay the company a certain
proportion on the sales in the northern province and
in the whole of the island, deducting from the sales
in other portions than their own a reasonable sum for
the government and for the expenses of the colony.
Tnese payments would vary from ss. to 103. per
acre, assuming the land to be sold at the original
price. In the old settlement there was some differ-
ence ; at New Plymouth the per-centage was 10s. ;
at Nelson, 6s. Bd. per acre. It would also vary in
Otago and Canterbury, according to the exact price
of the land. The payments would be made from
time to time in the Government department, accord-
ing as they were received there. They would be
paid, first of all, into the hands of the Land and
Emigration Commissioners, who would hand them
over to Mr. Barnett, of Cannon-row, the emigration
agent, and from him the company would receive the
money on giving such a receipt as might be required
by the Treasury. They were now entitled to three
and a half per cent. on 268,000/. The chairman, in
answer to further questions, said they were trying to
let the house now held by the company, and they had
reduced their establishment as much as possible—to
two clerks and a messenger.
The following directors were unanimously re-
elected :—Mr. Aglionby, RI P., Mr. Boulcott, Mr.
W. Hutt, Mr. W. Lyall, Mr. Smith, Mr. Armstrong,
Lord Talbot, and Mr. Monsell.
The proceedings closed with a vote of thanks to
the chairman and court of directors.