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11. The Agents subscribing these presents on behalf of the parties of the first part are not to be individually and personally responsible in any way under these presents. As witness the hands of three of the said Agents, on behalf of the said parties of the first part, and the hands of the said parties of the second part. Julius Vogel. W. C. Sargeaunt. I. E. Featherston. N. M. Rothschild and Sons. Witness to the signatures of all parties, the alterations against which I have written my initials having been first made. Jno. Mackrell, Solicitor, 21, Cannon Street, London.

Enclosure 2 in No. 1. New Zealand 4£ per Cent. 5/30 Debenture Loan of £4,000,000. Statement showing Amount Received on Account of the above Loan from 10th to 18th March, 1875, both days inclusive.

1875. Dn. £ s. d. March 10. Amount paid to Bank of New Zealand by Messrs. Eothschild, being 14 per cent, on £4,000,000 ... ... ...£560,000 Less Commission, at 2 per cent. ... ... ... 80,000 480,000 0 0 Amount paid to Bank of New Zealand by Messrs. Eothschild on scrip for £1,036,200, paid up in full at 80 per cent. ... ... ... 1,308,960 0 0 „ 11. Sundry subscribers on scrip for £72,000, paid up in full at 80 per cent. 57,600 0 0 „ 12. Ditto ditto 86,500, at 80 per cent. ... ... 69,200 0 0 „ 13. Ditto ditto 30,400 ditto ... ... 24,320 0 0 „ 15. Ditto ditto 26,600 ditto ... ... 21,280 0 0 „ 16. Ditto ditto 29,500 ditto ... ... 23,600 0 0 „ 17. Ditto ditto 6,600 ditto ... ... 5,280 0 0 „ 18. Ditto ditto 17,400 ditto ... ... 13,920 0 0 £2,004,160 0 0 1875. Ce. • £ s. d. March 10. Messrs. Eothschild, discount at 1 per cent, on payment of 80 per cent, in full, on scrip for £1,636,200, as per contra ... ... ... 16,362 0 0 „ 11. Sundry subscribers, discount at 5 per cent, on payments made in full this day on £72,000 scrip, as per contra ... ... ... ... 661 7 1 „ 12. Ditto ' ditto £86,500 ditto ditto 785 10 0 „ 13. Ditto ditto 30,400 ditto ditto 272 11 9 „ 15. Ditto ditto 26,600 ditto ditto 232 15 0 „ 16. Ditto ditto 29,500 ditto ditto 254 15 4 „ 17. Ditto ditto 6,600 ditto ditto 56 6 10 „ 18. Ditto ditto 17,400 ditto ditto 146 9 0 £18,771 15 0 Balance ... ... ... ... ... ... 1,985,388 5 0 £2,004,160 0 0 P. G. JlttXAN, ") T A f London, 19th March, 1875. W. C. Sabgeatot, j • Loan ASents-

Enclosure 3 in No. 1. Advertisement. New Zealand Immigbation and Public Works Loan, for £4,000,000. —The General Assembly of New Zealand in Parliament assembled has, by " The Immigration and Public Works Loan Act, 1874," authorized a loan of £4,000,000, of which £3,000,000 are for the construction of railways, £500,000 for other public works, and £500,000 for immigration. Messrs. N. M. Rothschild and Sons have to announce that they are authorized to receive, at their office, subscriptions for this loan. The loan is secured on the Consolidated Revenues of New Zealand, and will be raised on debentures representing £1,000, £500, £200, and £100 respectively, and bearing interest at the rate of 4_ per cent, per annum, payable on the Ist February and Ist August in each year, at the offices of the Crown Agents for the Colonies in London, where the first dividend for five months' interest (viz., from the Ist March proximo to the 31st July), at 4_ per cent, per annum, will be payable on the Ist August next, on a coupon attached to the provisional scrip.