NEGOTIATION OF £4,000,000 LOAN, (FURTHER CORRESPONDENCE RELATIVE TO).

Appendix to the Journals of the House of Representatives, 1875 Session I, B-05a

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1875. NEW ZEALAND.

NEGOTIATION OF £4,000,000 LOAN, (FURTHER CORRESPONDENCE RELATIVE TO).

Presented to both Houses of the General Assembly by Command of His Excellency.

No. 1. The Loan Agents to the Hon. the Colonial Seceetaet. Sib, — . London, 27th May, 1875. In continuation of our letter of the 14th ultimo, we transmit to you copies of three further letters received from Mr. Vogel on the subject of the negotiation of the Pour Million Loan. We have, &c, P. G-. JULTAN, W. C. Saegeaunt, (for Selves and Dr. Featherston, absent in Ireland on duty). The Hon. the Colonial Secretary, Wellington.

Enclosures the same as in No. 12, page 31, of B. 5,

No. 2. The Loan Agents to the Hon. the Colonial Seceetaey. Sib, — London, 11th June, 1875. Adverting to our letter of the 4th ultimo, we transmit herewith a statement showing the amounts received on account of the Four Million Loan, from the 14th May to the 10th instant, both inclusive. "We have, &c, The Hon. the Colonial Secretary, New Zealand. W. C. Sabgeaunt.

Enclosure in No. 2. New Zealand 4J pee Cent. 5/30 Debenture Loan op £4,000,000. Statement showing Amount Received on Account of the above Loan from the 14th May to the 10th June, 1875, both inclusive.

1875. Dr. £ s. d. May 14. Balance of former statement ... ... ... ... ... 3,133,022 7 3 Sundry subscribers, 45 per cent, on £16,900 scrip paid in full (less discount 5 per cent., as per contra) ... ... ... ... 7,605 0 0 Ditto, 15 per cent, on £11,500 ditto, due 4th May ... ... ... 1,725 0 0 Ditto, interest on arrears (£1,725) at 5 per cent. ... ... ... 272 „ 15. Ditto, 45 per cent, on £4,300 scrip paid in full (less discount 5 per cent., as per contra) ... ... ... ... ... ... 1,935 0 0 Ditto, 15 per cent on £2,000 ditto, due 4th May ... ... ... 300 0 0 Ditto, interest on arrears (£300) at 5 per cent. ... ... ... 090 „ 18. Ditto, 45 per cent, on £22,400 scrip paid in full (less discount 5 per cent., as per contra) ... ... ... ... ... ... 10,080 0 0 Ditto, 15 per cent, on £1,500 ditto, due 4th May ... ... ... 225 0 0 Ditto, interest on arrears (£225) at 5 per cent. ... ... ... 088 „ 19. Ditto, 45 per cent, on £1,300 scrip paid in full (less discount 5 per cent., as per contra) ... ... ... ... ... ... 585 0 0 Ditto, 20 per cent, on £300 ditto, due 7th April ... ... ... 60 0 0 Ditto, interest on ditto, 42 days at 5 per cent. ... ... ... 072 Ditto, 15 per cent, on £300 scrip, due 4th May ... ... ... 45 0 0 Ditto, interest on ditto, 15 days at 5 per cent. ... ... ... 020 „ 20. Ditto, 45 per cent, on £2,000 scrip paid in full (less discount 5 per cent., as per contra) ... ... ... ... ... ... 900 0 0 Ditto, 20 per cent, on £2,000 ditto, due 7th April ... ... ... 400 0 0 Ditto, interest on ditto at 5 per cent. .... ... ... ... 2 7 2

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Statement showing Amount Received — continued. £ s. d. May 20. Sundry subscribers, 15 per cent, on £2,000 scrip, due 4th May ... 300 0 0 Ditto, interest on ditto at 5 per cent. ... ... ... ... 0 13 2 „ 22. Ditto, 45 per cent, on £300 scrip paid in full (less discount 5 per cent., as per contra) ... ... ... ... ... ... 135 0 0 Ditto, ditto on £1,000 ditto ditto 450 0 0 May 26. Ditto, 15 per cent, on £200 scrip, due 4th May ... ... ... 30 0 0 Ditto, interest on ditto at 5 per cent. ... ... ... ... 0 1 10 „ 28. Ditto, 45 per cent, on £700 scrip, paid in full (less discount, 5 per cent.. as per contra) ... ... ... ... ... ... 315 O 0 „ 29. Ditto, ditto on £23,000 ditto ditto 10,350 0 0 „ 31. Ditto, 60 per cent, on £200 scrip, paid in full ... ... ... 120 0 0 Ditto, interest on arrears at 5 per cent. ... ... ... ... 023 Ditto, 45 per cent, on £4,000 scrip paid in full (less discount 5 per cent., as per contra) ... ... ... ... ... ... 1,800 0 0 Ditto, 20 per cent, on £2,500 ditto, due 7th April ... ... ... 500 0 0 Ditto, interest on ditto at 5 per cent. ... ... ... ... 3140 Ditto, 15 per cent, on £2,500 scrip, due 4th May ... ... ... 375 0 0 Ditto, interest on ditto at 5 per cent ... ... ... ..■ 179 Ditto, 15 per cent, on £3,600 scrip, due 7th June ... ... ... 540 0 0 June 1. Ditto, 45 per cent, on £26,900 ditto, paid in full (less discount at 5 per cent., as per contra) ... ... ... ... ... ... 12,105 0 0 2. Ditto, on £18,200 ditto ditto 8,190 0 0 Ditto, 15 per cent, on £600 ditto, due 7th 7une ... ... ... 90 0 0 „ 3. Ditto, 45 per cent, on £400 ditto, paid in full (less discount 5 per cent., as per contra) ... ... ... ... ... ... 180 0 0 Ditto, 15 per cent, on £1,800 ditto, due 7th June ... ... ... 270 0 0 „ 4. Ditto, 45 per cent, on £2,400 ditto, paid in full (less discount 5 per cent., as per contra) ... ... ... ... ... ... 1,080 0 0 Ditto, 15 per cent, on £3,600 ditto, due 7th June ... ... ... 540 0 0 „ 5. Ditto, ditto on £8,000 ditto ditto 1,200 0 0 „ 7. Ditto, 45 per cent, on £6,900 ditto, paid in full (less discount 5 per cent., as per contra) ... ... ... ... ... ... 3,105 0 0 Ditto, 15 per cent, on £10,000 ditto, due 4th May ... ... ... 1,500 0 0 Ditto, interest on ditto at 5 per cent. ... ... ... ... 6 19 9 Ditto, 15 per cent, on £855,900 scrip, due this day ... ... ... 128,385 0 0 „ 8. Ditto, 45 per cent, on £4,800 scrip, paid in full (less discount 5 per cent., as per contra) ... ... ... ... ... ... 2,160 0 0 Ditto, interest on arrears at 5 per cent. ... ... ... ... 0111 Ditto, 15 per cent, on £41,100 scrip, due 7th June ... ... ... 6,1.65 0 0 Ditto, interest on arrears at 5 per cent. ... ... ... ... 0 13 4 „ 9. Ditto, 15 per cent, on £19,200 ditto, due 7th June ... ... ... 2,880 0 0 Ditto, interest on arrears at 5 per cent. ... ... ... ..". 0 15 9 „ 10. Ditto, 15 per cent, on £2,100 scrip, due 7th June ... ... ... 315 0 0 Ditto, interest on arrears at 5 per cent. ... ... ... ... 018 £3,339,982 19 10 1875. Ce. May 14. Sundry subscribers, discount at 5 per cent, on payments made in full this £ s. d. day on £16,900 scrip, as per contra ... ... ... ... 57 6 2 „ 15. Ditto, ditto on £4,300 ditto ditto 14 6 8 „ 18. Ditto, ditto on 22,400 ditto ditto 70 8 10 „ 19. Ditto, ditto on 1,300 ditto ditto 3 19 10 „ 20. Ditto, ditto on 2,000 ditto ditto 6 0 10 „ 22. Ditto, ditto on 300 ditto ditto 0 17 5 „ 24. Ditto, ditto on 1,000 ditto ditto 2 15 4 „ 28. Ditto, ditto on 700 ditto ditto 1 15 5 „ 29. Ditto, ditto on 23,000 ditto ditto 56 10 10 „ 31. Ditto, ditto on 4,200 ditto ditto 9 16 0 June 1. Ditto, ditto on 26,900 ditto ditto 61 7 3 „ 2. Ditto, ditto on 18,200 ditto ditto 40 7 6 „ 3. Ditto, ditto on 400 ditto ditto 0 17 3 „ 4. Ditto, ditto on 2,400 ditto . ditto 5 0 9 „ 7. Ditto, ditto on 6,900 ditto ditto 13 4 3 „ 8. Ditto, ditto on 4,800 ditto ditto 9 0 0 £353 14 4 Balance ... ... ... ... ... ... ... 3,339,629 5 6 £3,339,982 19 10 P. Gr. JlTLYAN, 7 T . . London, 11th June, 1875. . W. C. Saegeatjht, j LlOan AS ents-

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No. 3. The Loan Agents to the Hon. Dr. Pollen. 7, Westminster Chambers, Victoria Street, Westminster, S.W., Sie,— 28th June, 1875. I have the honor to forward, for the information of the Government, further correspondence respecting the Four Million Loan. I have, &c, The Hon. Dr. Pollen, &c, &c. Julius Vogel.

Enclosure 1 in No. 3. The Loan Agents to the Hon. Sir J. Vogel. Sie, — Spring Gardens, London, June, 1875. Eleven thousand one hundred and fifty New Zealand 4 V per cent, debentures, representing four millions sterling, created under the Immigration and Public Works Loan Act of 1874, are now complete, with the exception of the countersignature of the contractors, and, with your concurrence, we propose on an early day to deposit them with Messrs. N. M. Rothschild and Sons for signature, with directions to that firm to hand them over when signed to the Bank of New Zealand, for delivery to purchasers in exchange for fully paid-up scrip, in accordance with the terms upon which they were disposed of. We shall be glad to learn, at your early convenience, whether or not you acquiesce in this proposal. We shall, of course, require the Bank of New Zealand to return- the scrip certificates to us as withdrawn, to be cancelled in the usual manner. We have, &c, P. G. JITLYAN. I. E. Featheeston. Sir Julius Vogel, K.C.M.G., Ac, &c. W. C. Sabgeaunt.

Enclosure 2 in No. 3. The Hon. Sir J. Vogel to the Loan Agents. 7, Westminster Chambers, Victoria Street, Westminster, S.W., Gentlemen, — 11th June, 1875. I received last evening your letter, dated June 1875, informing me that the debentures for the Four Million Loan, under "The Immigration and Public Works Loan Act, 1874," have been completed, with the exception of the countersignature of the Contractors. In reply, I have the honor to state that I approve of the course you propose to follow as to completing the debentures and handing them to the Bank of New Zealand. Sir P. G. Julyan, K.C.M.G. I have, &c, I. E. Featherston, Esq. Julius Vogel. W. C. Sargeaunt, Esq., C.M.G.

Enclosure 3 in No. 3. The Agent- Genebal to the Hon. Sir. J. Vogel. 7, Westminster Chambers, Victoria Street, Westminster, S.W., Sie,— 14th June, 1875. I have the honor to recommend that the usual honorarium be given to Sir Penrose Julyan and Mr. Sargeaunt, two of the Loan Agents, for the services rendered by them in the negotiation of the last issue of four million pounds four-and-a-half bonds. I have, &c, The Hon. Sir Julius Vogel, K.C.M.G., I. E. Featheeston, 87, Gloucester Place, Portman Square. Agent-General.

Enclosure 4 in No. 3. The Hon. Sir J. Vogel to the Agent- Genebal. 7, "Westminster Chambers, Victoria Street, Westminster, S.W., Sib, — 21st June, 1875. I have the honor to acknowledge the receipt of your letter of the 14th instant, recommending " that the usual honorarium be given to Sir Penrose Julyan and Mr. Sargeaunt, two of the Loan Agents, for the services rendered by them in the negotiation of the last issue of four million pounds four-and-a-half bonds." 2. As you are aware some differences of opinion have arisen between those gentlemen and myself on certain points connected with the late negotiation; but I recognize that they have had arduous duties in connection with it. 3. I therefore authorize you to make the usual payment. I have, &c, The Agent-General for New Zealand. Julius Vogel.

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No. 4 The Loan Agents, London, to the Hon. the Colonial Seceetaet, New Zealand. Sib,— London, 9th July, 1875. In continuation of our letter of the 11th ultimo, we transmit herewith two statements showing the amounts received on account of the Four Million Loan, from that date to the Bth instant, inclusive. We have, &c, The Hon. the Colonial Secretary, New Zealand. W. C. Sabgeatot.

Enclosure 1 in No. 4. New Zealand 4| pee Cent. 5/30 Debentijee Loan of £4,000,000. Statement showing Amount Received on Account of the above Loan from the 11th June to the oth July, 1875, both inclusive.

1875. De. £ s. d. June 11. Balance of former statement ... ... ... ... ... 3,339,629 5 6 Sundry subscribers, 30 per cent, on £400 scrip paid in full (less discount 5 per cent., as per contra) ... ■ ... ... ... ... 120 0 0 Ditto, 15 per cent, on £1,000 scrip, due 7th June ... ... ... 165 0 0 Ditto, interest on arrears at 5 per cent. ... ... .., ... 018 „ 12. Ditto, 15 per cent, on £100 scrip, due 7th June ... ... ... 15 0 0 „ 14. Ditto, 30 per cent, on £1,000 ditto paid in full (less discount 5 percent., as per contra) ... ... ... ... ... ... 300 0 0 Ditto, 15 per cent, on £2,700 ditto, due 7th June ... ... ... 405 0 0 Ditto, interest on arrears at 5 per cent. ... ... ... ... 078 „ 15. Ditto, 45 per cent, on £ LOO scrip paid in full ... ... ... 45 0 0 Ditto, interest on arrears (£15), at 5 per cent. ... ... ... 005 Ditto, 30 per cent, on £4,000 scrip paid in full (less discount 5 per cent., as per contra) ... ... ... ... ... ... ... 1,200 0 0 Ditto, 15 per cent, on £1,100 scrip, due 7th June ... ... ... 165 0 0 Ditto, interest on arrears at 5 per cent. ... ... ... ... 038 „ 16. Ditto, 30 per cent, on £16,000 scrip paid in full.(less discount 5 percent. as per contra) ... ... ... ... ... ... 4,800 0 0 Ditto, 15 per cent, on £10,800 ditto, due 7th June ... ... ... 1,620 0 0 Ditto, interest on arrears at 5 per cent. ... ... ... ... 1 19 11 „ 17. Ditto, 30 per cent, on £31,900 scrip paid in full (less discount 5 per cent., as per contra ... ... ... ... ... ... 9,570 0 0 Ditto, 15 per cent, on £2,500 ditto, due 4th May ... ... ... 375 0 0 Ditto, interest on arrears at 5 per cent. ... ... ... ... 1 14 11 Ditto, 15 per cent, on £4,800 scrip, due 7th June ... ... ... 720 0 0 Ditto, interest on arrears at 5 per cent. ... ... ... ... 1 7 11 „ 18. Ditto, 30 per cent, on £300 scrip paid in full (less discount 5 per cent., as per contra) ... ... ... ... ... ... ... 90 0 0 „ 19. Sundry subscribers, 15 per cent, on £100 scrip, due 7th June ... ... 15 0 0 Ditto, interest on arrears at 5 per cent. ... ... ... ... 006 „ 21. Ditto, 30 per cent, on £900 scrip paid in full (less discount 5 per cent, as per contra) ... ... ... ... ... ... ... 270 0 0 Ditto, 15 per cent, on £200 ditto, due 7th June ... ... 30 0 0 Ditto, interest on arrears at 5 per cent. ... ... ... ... 012 „ 23. Ditto, 30 per cent, on £900 scrip paid in full (less discount 5 per cent., as per contra) ... ... ... ... ... ... 270 0 0 „ 24. Ditto, 30 per cent, on £200 ditto ditto 60 0 0 „ 26. Ditto, ditto on £1,200 ditto ditto ditto 360 0 0 Ditto, 15 per cent, on £100 ditto, due 7th July ... ... ... 15 0 0 „ 28. Ditto, 30 per cent, on £200 ditto paid in full (less discount 5 per cent., as per contra) ... ... ... ... ... ... 60 0 O „ 29. Ditto, ditto on £19,200 ditto ditto 5,760 0 0 Ditto, 15 per cent, on £3,200, due 7th June ... ... ... 480 0 0 Ditto, interest on arrears at 5 per cent. ... ... ... ... 1 8 11 „ 30. Ditto, ditto, short credited, 17th June ... ... ... ... 0 2 1 Ditto, 30 per cent, on £5,300 scrip paid in full (less discount 5 per cent., as per contra) ... ... ... ... ... ... 1,590 0 0 Ditto, 15 per cent, on £100 scrip, due 7th June ... ... ... 15 0 0 Ditto, interest on arrears at 5 per cent ... ... ... ... 0 0 11 July 1. Ditto, 30 per cent, on £2,700 scrip paid in full (less discount 5 per cent. as per contra) ... ... ... ... ... ... 810 0 0 Ditto, 15 per cent, on £400 ditto, due 7th July ... ... ... 60 0 0 „ 2. Ditto, 30 per cent, on £200 ditto, paid in full (less discount 5 per cent., as per contra) ... ... ... ... ... ... 60 0 0 Ditto, 15 per cent, on £1,400 ditto, due 7th July ... ... ... 210 0 0 Ditto, 15 per cent, on £500 ditto, due 7th June ... ... ... 75 0 0 Ditto, interest on arrears at 5 per cent ... ... ... ... 052

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Statement showing Amount Received — continued. £ s. d. „ 5. Ditto, 30 per cent on £1,300 scrip, paid in full (less discount 5 per cent. as per contra) ... ... ... ... ... ... 390 0 0 Ditto, 15 per cent, on £100 scrip, due 9th August ... ... ... 15 0 0 Ditto, 15 per cent, on £3,600 ditto, due 7th July ... ... ... 540 0 0 £3,370,312 0 5 1875. Ce. £ s. d. June 11. Sundry subscribers, discount at 5 per cent, on £400 scrip paid in full, as per contra ... ... ... ... ... ... 0 14 0 „, 14. Ditto, ditto on £1,000 ditto ditto 1 12 5 „ 15. Ditto, ditto on 4,100 ditto ditto 6 8 11 „ 16. Ditto, ditto on 16,000 ditto ditto 24 13 4 „ 17. Ditto, ditto on 31,900 ditto ditto 47 17 0 „ 18. Ditto, ditto on 300 ditto ditto 0 8 9 „ 21. Ditto, ditto on 900 ditto ditto 14 2 „ 23. Ditto, ditto on 900 ditto ditto 12 6 „ 24. Ditto, ditto on 200 ditto ditto 0 4 10 „ 26. Ditto, ditto on 1,200 ditto ditto 17 0 „ 28. Ditto, ditto on 200 ditto ditto 0 4 2 „ 29. Ditto, ditto on 19,200 ditto ditto 19 6 6 „ 30. Ditto, ditto on 5,300 ditto ditto 5 17 July 1. Ditto, ditto on 2,700 ditto ditto 2 9 8 „ 2. Ditto, ditto on 200 ditto ditto 0 3 6 „ 5. Ditto, ditto on 1,300 ditto ditto 0 19 2 Ditto, ditto on 100 ditto ditto 0 15 £113 18 11 Balance ... ... ... ... ... ... ... 3,370,198 1 6 £3,370,312 0 5 P. G. JULTAN, ) T . W. C. SAEGEAU N T,5 LOanAgent8London, 9th July, 1875.

Enclosure 2 in No. 4. New Zealand 4| pee Cent. 5/30 Debenture Loan of £4,000,000. Statement showing Amount Received on account of the above Loan from the 6th July to the Bth July, 1875, both inclusive.

1875. Dk. £ s. d. July 6. Balance of former statement ... ... ... ... ... 3,370,198 1 6 Sundry subscribers, 30 per cent, on £5,000 scrip paid in full (less discount 5 per cent., as per contra) ... ... ... ... ... 1,500 0 0 Ditto, 15 per cent, on £37,500 scrip, due 7th July ... ... ... 5,625 0 0 Ditto, 15 per cent, on £5,400 ditto, due 7th June ... ... ... 810 0 0 Ditto, interest on arrears at 5 per cent. ... ... ... ... 344 „ 7. Ditto, 30 per cent, on £114,100 scrip paid in full (less discount 5 per cent., as per contra) ... ... ... ... ... ... 34,230 0 0 Ditto, 15 per cent, on £200 scrip, due 7th June ... ... ... 30 0 0 Ditto, interest on arrears at 5 per cent. ... ... ... ... 023 Ditto, 15 per cent, on £590,300 scrip, due 7th July ... ... ... 88,545 0 0 Ditto, 15 per cent, on £5,000 ditto, due 9th August ... ... \ ... 750 0 0 „ 8. Ditto, 30 per cent, on £4,000 ditto, paid in full (less discount 5 per cent., as per contra) ... ... ... ... ... ... 1,200 0 0 Ditto, interest on arrears ... ... ... ... ... ... 018 Ditto, 15 per cent, on £28,400 scrip, due 7th July ... ... ... 4,260 0 0 Ditto, interest on arrears ... ... ... ... ... ... 0 10 4 £3,507,152 0 1 1875. Cb. £ s. d. July 6. Sundry subscribers, discount at 5 per cent, on £5,000 scrip paid in full (as per contra) ... ... ... ... ... ... 3 10 7 „ 7. Ditto, ditto on £114,100 ditto ditto 77 6 3 Ditto, ditto on £5,000 ditto ditto 3 7 8 „ 8. Ditto, ditto on £4,000 ditto 'ditto 2 12 7 £86 17 1 Balance ... ... ... ... ... 3,507,065 3 0 £3,507,152 0 1 London, 9th July, 1875. By Authority i Giobsi Didbbbbt, Goyernment Printer, TVellineton.—1876. Price 6d.]