The Hawaiian gazette., 1874-09-09

the trade between New Zealand and the islands and
between the several Islands. The steam vessels
running nom the Islands TO New Zealand to call at
Auckland, Mannkau, Napier. Taranaki. Neson
Wellington Lytielton and Port Chalmers, as may
from time TO time be required BY the Goverament
having due regard to the requirements Of trade aud
the interests Of the company. ca To establish
manufactures In New Zealand 10 utilise the pro
duets Of the Islands, and 10 prepare supplies and
merchandise for export 70 the Islands. lak To e.
taolsh In i've years such mandatory In osage,
Canterbury, Wellington, and auckland In The order
those several places arc named,
:. In consideration Ct the foregoing, the Govern
ment OF New Zealand viii guarantee Interest aflsr
the rate OF i've pounds per ecntum per annum on
the psid.up capital OF the company. not exceeding
s., 10000 for Any years, aud win provide for the
payment OF such interest halfycatly, rrespcetvcoi
the state Of the accounts between the Government
and the Company, aud Notwithstanding the Govern
mcui and General Assembly mag exercise the pow
ers hereinafter provided for.
s Such interest aud all sums paid BY the Govern
ment In respect OF the grantee shall be rss charge
on the profits Of the company, and no dividends
shall be paid BY the company until all sums paid BY
.he Government have been repaid.
-
not carried on, IN the opinion Of the Governor In
Council, with sufficient vigor prudence or In
eordanee with the Intentions Of this agreement or
II al any time amer the expiration OFT three years
there shall be due by the company TO the Govern
ment. In respect Of the guarantee, sum exceeding
100000, il shall be lawful for the Government 10
suspend the powers aud functions OF the company
aud OF the Directors, by nouee to be published In
the Nse Zealaad Gdssfte
10 In such case the business Of tho company
shall. until the General Assembly shall otherwise
provide, be managed by Commissioner, to Be ap-
pointed BY the Government, who shall have and may
exercise all the functions and powers vested in the
Directors; aud
IL. 1t shall be lawful for the General Assembly to
deal with the company and its business and property
In such manner as the General Assembly may think
ft; Provided that nothing be done TO prejudice the
payment Of the guaranteed interest, which. under
any event. shall be duly and punetualy paid By the
Government at the times and for the term herein
mentioned Provided also that any Bill affecting the
powers functions or interests Of the company, shall
be reserved for the Specification Of Her Malesty's
pleasure thereon.
Il. There shall be two Managing Directors, one
in New Zealand and one In England aud those OH /
Gers shall be appointed and may Be removed BY the I
Government
Is The amount Of salary Of Managing Director /
shall be fixed by the Government, but shall not cx /
coed $500 per for the first year. with an
uual increase Of elOO. ill a maximum Of R25oo is /
reached. Such salaries to be paid by the company.
IA. The especial duty OF the Managing Director
shall be to that the agreement with the Govern
ment is faithfully carried out to report all matters
to the Government which they deem Of sufficient i'm
portanee and TO furnish from the eompany's books,
and otherwise, all such information as the Govern
meut may from time to time require; and no busl-
ness plantation shall be purchased without the
consent Of the Managing Director IN New Zealand.
Is. Subject TO the foregoing, the Managing Dircc
tors TO carry out the instructions Of the company.
10. The Directors, general and local, to be paid
reasonable remuneration for their services.
Il. The promoters shall not receive any promo
ton, money, or shares.
IS The agreement 10 be drawn up In accordance
with these heads, to be submitted TO the General
Assembly for ratification, and to be ONO force until
such ratification is obtained. II i. be refused, such
refusal TO form no ground for compensation on any
ground whatever.