An important communication was made to the shareholders of the
New Zealand Company, at their annual meeting yesterday—a proposal from the Colonial Office to the Company, for colonizing the Southern districts of New Zealand, under the management of the Company as the Government's agent. The heads of the plan are these. A Commissioner, to be appointed by the Crown, but sanctioned and paid (1,5001. a year) by the bompany, is to sit at meetings of the Directors, to share their authority, and to exercise a veto on their proceedings. A large territory is given up to the Company, with large annual subsidies of money from the Crown, if needed, to carry on its operations ; also entire disposal of lands, Crown preemption, 8r.c. The arrangement to last for three years; if successful, probably to be made permanent: if the Company do not succeed, it will yield all up to Government, on favourable terms. The report incorporating and recom mending this proposal was sanctioned by the shareholders. We shall recur to the subject.
By the Royal steam-sloop Driver, intelligence has been received from Auck i - land n New Lealand to the 28th of Wellington to the 6th. Governor Grey was at Auckland; and peace seemed to prevail both in the North and the ' South.
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