As regards the 'rules and regulations' in force on the Garth and Annsbrae estates, copies of which have been given to the tenants in Unst, we have obtained such modifications of these, as, we believe, will be found satisfactory, easily wrought, and we fondly hope for the good of all concerned in the end. These modified rules, however, will not come into operation this year; tenants will have time to consider them; and, when introduced, we believe generally, they will see the advantage accruing to themselves. We do not expect that the idle and thriftless will admire them, but it may help them to discover that 'Idleness is the parent of want, while the hand of the diligent maketh rich.' From these remarks we hope it will be seen that our desire is to help and benefit the tenants, and, as far as we can, raise them, socially and morally. With a strict regard to equity, confining ourselves entirely to this affair and business, on strictly fair and just principles, we shall persevere and hope, under the blessing of Providence, that all will result well to proprietors, tenants, and ourselves. In carrying this work forward, we ask the tenants' help and assistance; we will study never to present ourselves in a false light, and we shall at all times claim honest and fair dealings on the tenants' part; doubledealing, deceit, and dishonesty will be punished; the idle-inclined and the spendthrift will meet with encouragement only as they abandon those habits. The careful, honest, active man will receive all help and encouragement in our power. Our desire is to benefit all under our care, and we will do so, unless the tenants themselves prevent it. JOHN SPENCE. WILLIAM G. MOUAT. JOHN THOMSON. <December> 1867. ALEXANDER SANDISON. V. EXCERPTS from LEASE between Major T.M. CAMERON of Annsbrae and Messrs. SPENCE & CO.