5

8.—16

Four-and-a-half-per-cent. Five-thirties of 1870, 1873, and 1874: — Amount converted, £1,890,700— Amount to be paid off, £1,055,400 — £1,890,700 at 101 = £1,909,607— Interest from the Ist February to the 3rd April (eighty-nine days), at 4 per cent., on £ s. d. £1,809,007 .. .. .. .. .. .- .. 18,625 2 8 Six months' interest at 4 per cent, to the Ist November.. .. .. .. 38,192 2 9 Unconverted, £1,055,400— Six months' interest on £1,055,400, at 4£ per cent., to the Ist August .. .. 23,746 10 0 Interest on £1,055,400 for three months (Ist August to the Ist November) at, say, 4 per cent. .. .. .. .. .. .. .. 10,554 0 0 Total .. .. .. .. .. .. £91,117 15 5 Interest payable had no conversion taken place, at 4J per cent., on £2,946,100 for six months to £ s. cl. the Ist August .. .. .. .. .. .. .. .. 66,287 5 0 Interest on £2,940,100 for three months to the Ist November, at, say, 4 per cent. .. .. 29,461 0 0 Total .. .. .. .. .. .. £95,748 5 0 Saving in interest for financial year 1886-87 on conversion of £1,890,700, £4,630 9s. 7d. Summary, Showing the Total Saving of Interest on all Bonds converted. £ s. d. Five-per-cent. loan of 1863 .. .. .. .. .. .. .. 851 9 0 Five-per-cent. consols.. .. .. .. .. .. .. .. 538 18 9 Five-per-cent. ten-forties of 1876 and 1877 .. .. .. .. .. 27,401 18 7 Five-per-cent. loan of 1879 .. .. .. .. .. .. .. 598 8 0 Six-per-cent. loan of 1860 .. .. .. .. .. .. .. 351 0 2 Six-per-cent. loan of 1863 .. .. .. .. .. .. .. 2,484 12 8 Four-and-a-half-per cent, five-thirties .. .. .. .. .. .. 4,630 9 7 Total .. .. .. .. .. .. £36,916 10 9 7, Westminster Chambers, 17th May, 1886. C. Wray Pallisee.

' *' " No. 2. The Agent-General to the Colonial Tbeasueer. Sir, — 7, Westminster Chambers, London, S.W., 15th June, 1886. I transmit to you herewith copy of a letter from the Bank of England, covering two statements of receipts and payments in respect of dividends on New Zealand inscribed stock, and on the new consols bonds, extending from the commencement of inscription in 1880 down to the 30th April last. These accounts will now be regularly continued, and rendered every year. It will no doubt strike you as remarkable that there should be such large balances of unclaimed dividends, the bank now having in hand in that way, £19,747 4s. Id. With regard to the sum of £49 13s. Id. accrued for accumulated fractions of interest, I have requested the bank to pay it in to the Public Account. You are aware, from the accounts transmitted direct to the Treasury by the Crown Agents, that in addition to the balance in the hands of the Bank of England, there is unclaimed dividend money in the hands of the Crown Agents now amounting to £9,285 15s. Thus the aggregate sum of unclaimed dividend is at this time £29,032 19s. Id. I have, &c, The Hon. the Colonial Treasurer, Wellington. F. D. Bell,

Enclosure in No. 2. Sir, — Bank of England, London, E.G., 10th June, 1886. I beg to forward you herein statements of the receipts and payments in respect of the dividends on New Zealand 4-per-cent. consolidated stock, and New Zealand 5-per-cent. debentures, from the commencement to the 30th April last, and to inform you that this account will in future be rendered annually. The balance on the account of the 4-per-cent. consolidated stock includes the sum of £49 13s. Id. for accumulated fractions of interest, and I shall be glad to reeeive your instructions for the disposal of this amount. I have, &c, The Agent-General for New Zealand, 7, Westminster Chambers. F. May, Chief Cashier.

No. 3. The Agent-General to the Colonial Treasures. Sir, — 7, Westminster Chambers, London, S.W., 16th June, 1886. I received in due course your telegram of the 29th May, directing me to provide by a Commissioner's order on the Public Account for paying off the debentures of £13,500 maturing at the "Union Bank of Australia on the Ist day of July, interest on the same having been already provided. The necessary order has been accordingly signed, and the money will be paid in due time to the Union Bank. I have, &(_., The Hon. the Colonial Treasurer, Wellington. F. D. Bell.

[Copy of telegram referred to in No. 3.] The Colonial Treasurer to the Agent-General. Agent-General, London. (Received, 29th May, 1880.) Wellington Loan, 1866 : Move Commissioners, under section 62 of Act of 1878, to issue order on Public Account for £13,500 to Union Bank of Australia for redemption debentures maturing first July. Interest already provided. Wellington, 29th.