THE NEW ZEALAND LOAN.

New Zealand Herald, Volume I, Issue 249, 30 August 1864, Page 4

THE NEW ZEALAND LOAN.

Ax advertisrment appears in the Times from the Crown Agents for the Colonies notifying the conditions of tender [for the Sew Zealand Government Debenture Loan of £3,000,000 sterling, of which one million has been guaranteed by the Imperial Government. Tho advertisement runs as follows :—" The | undersigned Crown Agents [for the Colonies, acting ! on behalf of the Government of New Zealand, aud with the sanction of her Majesty's Principal Secretary of State for the Colonies, now oilers the first instalment of the above loan, amounting to £1,000,000 sterling, to public competition by tender. The debentures are for sums of £500, .£2OO, aud £100 each, with interest coupons attached, redeemable in 50 years from the loth >1 lily next, and bearing interest from the same date, at the rate of five per cent, annum, payable half-yearly, on the 15th January and 15tli July of each year." Both principle and interest are made payable at the otfices of the Crown Agent for tho Colonies, in London. Tenders, in accordance with the annexed form, will be received .by tlio undersigned for the whole or aiy portion of the loan, not being less than £100, until 1 p.m. on Tuesday, tho 12tn July next. Every tender should be enclosed in a sealed envelope, addressed to "The Crown Agents for the Colonies, Spring-gardens, London," with the words " Tender for A'ew Zealand Loan" written on the outside. All the tenders' received will bo opened in the presence of the Finance Minister of iv'ew Zealand and of such persons interested therein as may attend at the offices of the undersigned precisely at 1 o'clookon the 12th pros. The debentures will then ba allotted to the highest bidders, provided the rates offered are not below tho minimum which will be fixed before the opening takes place in the usual manner. Tenders at a price including a fraction of a shilling, other than sixpence will not be accepted; and in the event of an equality of tenders beyond the amount to be issued a pro rata distribution on such tenders will be made. Five per cent, of tho purchase money must be paid into the Bank of England as soon as the allotment is made, and the balance in two equal portions, with intervals of 14 days between each, 'file debentures will be delivered at the offices of the undersigned in exchange for the Bank receipts. This loan is secured on the general revenue of the colony of New Zealand, which, as will be seen by the following statement, is far more than sufficient, after providing for all existing liabilities of the General Government to defray such a charge. The Act, moreover, provides for the annual payment out ot the revenue, of the colony of a sum' of money equal to tho one per cent, on the amount borrowed, for tlio formation, under proper trustees, of a Sinking Fuun for the final liquidation of the debt. (Here follows a table showing the revenue and expenuiture for four years, 1860 to IS6'.) The only existing loans General Government of New Zealand are £000,000 issued under the guarantee of the Imperial Government ill 1857, and £150,000 issued the role guarantee of the Colonial Government in 1861. The annual churgcs in respect of both these loans are included in the amount- of expenditure above stated. The surplus revenue (which in future will be applicable to the loan now offered) has hitherto been disposed of annually among the several Provincial Councils of the colony. Further information with regard to the financial condition of the colony may be had on application to tin: undersigned, from whom forms of tender may also be procured- —Penrose G. Julyan. VV. C. Surgeaunt, Crown Agents for tho Colonies. Oillccs of the Crown Agents for the Colonics, Spring-gardens, London, 25th Jun?, 186