Province of Hawke's Bay.

Four hundred acres of the Pakowhai Estate, B1, No. 1, held in trust by Samuel Locke and Charles Heaphy, have been let for twenty-one years to Mr. Alexander McHardie, at a rental of £1 an acre per-annum for the first eleven years, and £1 10s. an acre per annum for the remainder of the term, Mr. McHardie to pay £1,000 of his rent in advance, receiving temporarily an allowance of 8 per cent. interest. This arrangement has been made at the request of the Natives beneficially interested. Four hundred and thirty-four acres, including the village, will remain reserved for purposes of cultivation and subsistence.

Account current to 30th June, 1873, is furnished herewith.