3

E.—6

£ s. d. Brought forward ... ... ... 10,608 8 10 Museum maintenance ... ... ... ... ... ... ... 718 4 4 Athenaeum, proportion of rent of Museum endowment ... ... ... ... 91 13 4 Furniture and fittings ... ... ... ... ... ... ... 52 12 6 Apparatus and chemicals ... ... ... ... ... ... ... 285 18 10 Endowments, cost of ... ... ... ... ... ... ... 16 5 0 Law costs ... ... ... ... .. ... ... ... 95 17 8 University grounds ... ... ... ... ... ... ... ... 2 10 0 Insurance ... ... ... ... ... ..." ... ... 33 18 0 Printing, advertising, and stationery ... ... ... ... ... ... 47 16 6 Library ... ... ... ... ... ... ... ... 32 11 10 Water, fuel, and light ... ... ... ... ... ... ... 166 6 11 Municipal rates ... ... ... ... ... ... ... ... 128 1 0 Incidental expenses ... ... ... ... ... ... ... ... 27 15 10 Interest on loan ... ... ... ... ... ... ... ... 560 0 0 „ current account ... ... ... ... ... ... ... 251 18 0 £13,119 18 7 D. M. Stuaet, Chancellor. I certify the above abstract to be correct.—H. Livingston, Auditor.

No. 2. The Chancelloe to the Hon. the Colonial Seceetaet. Sie, —■ University of Otago, 25th February, 1882. I am requested by the Council of the University of Otago to communicate with you with the object of obtaining the authority of His Excellency the Governor to borrow a sum not exceeding £15,000. In 1879 the Council was empowered, by an order of the Governor in Council, to borrow the sum of £10,000 at a rate of interest not exceeding 8 per centum per annum. This power the Council exercised, borrowing the money for three years at the maximum rate of interest. This loan of £10,000 is repayable in July, and the Council is under the necessity of reborrowing that amount in order to its repayment. In the opinion of the solicitors it is questionable if the authority to borrow under the former order is not exhausted, and therefore a fresh order is now asked for to meet that possible difficulty. As the Council has in view the extension of the accommodation of the chemical and anatomical divisions of the University buildings, it is desirous to obtain authority to exercise its borrowing powers to the extend of £15,000. I enclose for your perusal a draft order, drawn by our solicitors with a view to avoid the alleged defects of the former one, and would respectfully direct your attention to the following notes, showing the principal differences : — 1. Revenues from lands not actually vested in the University, but held in trust, are included. 2. The power to issue debentures is made clear. 3. The power to mortgage the revenues of a portion of the lands is made clear; in the former order this was not quite clear. 4. The power to grant successive mortgages for parts of the total sum is now made clear. I have therefore respectfully to request that you will have the goodness to move His Excellency the Governor in Council to issue a fresh order granting the Council of the University of Otago authority to borrow the sum of £15,000, and, if the Government see no objection, that the order may be issued in the form enclosed as drawn by the solicitors. I have to intimate that the Council can, at the present time, make arrangements to borrow the money at a greatly reduced rate of interest. I have, &c , D.M. Stuaet, The Hon. the Colonial Secretary, Wellington. Chancellor.

No. 3. The Seceetaet for Education to the Chancelloe. Sie, — Education Department, Wellington, 20th March, 1882. I have the honour, by direction of the Minister of Education, with reference to your letter of the 25th ultimo, to forward to you copy of an order under the hand of His Excellency the Governor, authorizing the Council of the University of Otago to borrow a sum or sums of money not exceeding £15,000 upon the security of the rents and revenues of the University, at a rate of interest not exceeding 8 per cent, per annum. I have, &c, E. O. Gibbes, The Chancellor, University of Otago, Dunedin. For the Secretary.

Enclosure in No. 3. Peemission to the Council op the Univeesity oe Otago to boeeow £15,000. A Goedon, Governor. Wheeeas by an Ordinance of the Superintendent and Provincial Council of the late Province of Otago, intituled " An Ordinance to incorporate the University of Otago," dated the third day of June,