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No. 23. The Loan and Stock Agents to the Colonial Treasurer. Treasurer, New Zealand. (Beceived 7th October.) New loan announced to-day, minimum ninety-seven, total amount £1,567,800, consisting of £1,325,000 new loan and residue for extinction District Bailway debentures. Have arranged with Bank of England cancel District Bailway debentures, therefore remaining debentures must come. Loan Agents, London, 6th.

No. 24. The Agent-General to the Colonial Treasurer. Treasurer, New Zealand. (Beceived Bth October.) New Loan : Tenders 14th, quoted one premium to-day. London, 7th.

No. 25. The Colonial Treasurer to the Loan and Stock Agents. Gentlemen, — The Treasury, Wellington, 9th October, 1886. Beferring to my letter of the 21st August last, No! 18, advising the dispatch of District Bailway debentures, I have now the honour to advise you that the balance of the debentures, 559 in number, for £142,800, as per narration accompanying thorn, are being forwarded to you in a separate parcel by this mail, and have to request you to be good enough to open the parcel in the same manner as the last. I have, &c, The New Zealand Loan and Stock Agents, London. Julius Vogel.

No. 26. The Loan and Stock Agents to the Colonial Treasurer. Sir, —• 7, Westminster Chambers, London, S.W., 27th August, 1886. We duly received your telegram of the 26th, informing us that the session had terminated, and that the authorities in connection with the issue of the new loan would reach us early in October. We shall have everything in readiness accordingly by the end of September for issuing the loan. We have, &c., F. D. Bell, The Hon. the Colonial Treasurer, Wellington. (For the Loan and Stock Agents.)

Copy of Telegram referred to in No. 26. Agent-General, London. (Received 26th August.) Session ended, posted authorities loan, all reach you first week October. Wellington, 26th.

No. 27. The Agent-General to the Colonial Treasurer. Treasurer, New Zealand. (Beceived 15th October.) New Loan : Tenders only about two millions ninety thousand; average slightly over minimum. London, 14th.

No. 28. The Agent-General to the Colonial Treasurer. Treasurer, New Zealand. (Beceived 16th October.) New Loan : Tenders £2,094,000, average ninety-seven five shillings. London, 15th. ■ 11l IIIIim—IIMIIIIWHH I 1111111l II -■■■lIIIIMIIIIi ■

No. 29. The Colonial Treasurer to the Loan and Stock Agents. Wellington, 16th October. New Loan : Thanks exertions, glad negotiated.

No. 30. The Loan and Stock Agents to the Colonial Treasurer. Sir, — 7, Westminster Chambers, London, S.W., 24th September, 1886. We have to acknowledge the receipt of your letters of the 14th August, Nos. 16 and 17, containing the Orders in Council authorizing the issue of the new loan of £1,325,000, together with your instructions thereon for our guidance. We were so entirely unprepared for the powers taken by clause 6 of the District Bailways Purchase Amendment Act that we have felt grave anxiety about any course that involved combining a conversion under that clause with the issue of the new loan. Being now suddenly con-

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