On 15th August I received your letter of 8th July, but was unable to send you a cable until 1st September.

I could not offer to embark upon the undertaking without some consideration, and it was necessary for me to discuss the matter with Mr Ormond, and to get his consent to my necessary absence. Mr Ormond is of opinion that I shall have a very great difficulty in selling the properties, more especially as the Australians are going in so largely for exportation of frozen meat, and there is a general feeling that it must affect the value of our lands. However, we shall see.

Remuneration.—I understand, of course, that the £300 is merely for myself. I shall have to employ one good clerk, and the other expenses will probably be commission paid on sales.

As soon as I hear definitely from you I shall go to Dunedin and arrange matters with Mr J. B. Reid.

I will put my back into the work and hope to make some impression upon the properties.