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No. o.—Certificate by the Bank of England o£ Debentures converted. List of the Numbers of Now Zealand 6-per-cent. Debentures of the Loan of 1863, expiring 15th March, 1891, which have been received at the Bank of England for conversion into 3£-per-cent. Inscribed Stock up to 31st March, 1891. £100 £200 £500 £1,000 1266 1517 IC7B 2702 2840 1301 1490 201 1293 1525 1679 2723 2841 1326 1498 203 1327 1544 1817 2724 2842 1334 1532 204 1331 1545 1836 2725 2843 1343 1535 226 1332 1561 1908 2734 2853 1349 1554 264 1335 1597 1909 2744 2858 1361 1606 265 1337 1603 1910 2752 2869 1362 1609 269 1355 1616 1911 2762 2870 1381 1010 276 1361 1620 1919 2798 2376 1382 1012 278 1863 1621 1920 2810 2896 1383 1649 309 1370 1635 1921 2834 2898 1419 1674 310 1440 1636 1922 2835 292(i 1424 1075 311 1471 1653 1949 2830 2937 1427 1076 317 1500 1660 1950 2837 2942 1432 1677 331 1508 1673 1952 2838 2952 1433 1078 342 1510 1674 1956 2839 2964 1434 1683 2976 Summary. £ 48 debentures of £100 each .. .. .. .. .. 4,800 33 „ 200 „.. .. .. .. .. 6,600 32 „ 500 ... .. .. .. .. 16,000 15 „ 1,000 „ .. .. .. .. .. 15,000 128 £42,400 Bank of England, 9th April, 1891. F. May, Chief Cashier.

No 7. —The Tbustees of the Sinking Fund of 1803 to the Cbown Agents. Gentlemen, — Westminster Chambers, London, 9th March, 1891. Wβ have to inform you that the sum of £663,061 10s. of 4-per-cent. New Zealand Consolidated Stock, which stood in the name of Sir Penrose Goodchild Julyan, as sole surviving Trustee of the sinking funds of the New Zealand Loan of 1863, has been transferred into the names of Sir Penrose Julyan and Sir Francis Dillon Bell as joint trustees of those funds. We have also to inform you that the sum of £71,778 ss. 3d. in cash, belonging to the same funds, is now lying in deposit at the London and Westminster Bank in our names. We trust that you will be willing to continue acting as you havo hitherto done in all matters relating to these trust funds ; and we shall accordingly be obliged if you would make the necessary entries in your books and in the periodical accounts for the colony which you have always prepared for the Trustees. With this view, we bog to suggest that it would be convenient in future, while continuing in all respects the practice hitherto pursued, for the name of Sir Francis Bell to be substituted for that of Sir Penrose Julyaui as the executive member of the Trust. In that case all ordinary matters relating to the Trust, receipt and investment of accruing dividends and other funds, would be carried out in concert between yourselves and that Trustee, while questions requiring the joint action of Sir Penrose Julyan would be referred to him for his concurrence. The Trustees will take care that any documents relating to the Trust which may come into their hands shall be duly communicated to you. \Ye are, &c, P. (1. Julyan, F. D. Bell, The Crown Agents for the Colonies. Trustees of the Sinking Fund of the Loan of 1863.

No. B.—The Cbown Agents to the Trustees of the Sinking Fund of 1863. Gentlemen, — Downing Street, London, 18th March, 1891. In reply to your letter of the 9th instant, relative to the trusteeship of the sinking funds of the New Zealand Loan of 1863, I have to inform you that wo shall be happy to continue as heretofore to act in all matters relating to those funds, and to substitute the name of Sir Francis Dillon Bell for that of Sir Penrose Julyan as the executive member of the Trust. It is essential to the correctness of the sinking fund accounts and of the quarterly statement of cash and securities which wo render to the Secretary of State for the Colonies that we should be kept informed of every transaction connected with the funds. I have, &c, Sir P. G. Julyan, K.C.M.G., C.8., and Sir Francis Dillon Bell, K.C.M.G., C.B. M. F. Omhanney.

No. 9. —The Executive Tbustee of the Sinkino Fund of 1863 to the Ceown Agents. Gentlemen, — Westminster Chambers, 10th April, 1891. With reference to the 6-per-cent. debentures of the New Zealand Loan of 1863, which fell due on the 15th March, and have since been paid off by you, on the requisitions to the Agent-General, by Commissioners' orders on the Public Account, I beg to state that, as the debentures have not been paid off by the Trustees, but by the New Zealand Government, the amounts of cash received by you under the Commissioners' orders, as well as the bonds thereby paid off, cannot appear in the accounts rendered by you to the Trustees of the sinking fund. The sums realised by the sale of stock and cash formed part, as stated in my letter of this date, of the proportion of sinking fund of the loan of 1863, set free by the operation of " The Consolidated Stock Act, 1884," upon the part conversion and redemption of the loan. Accordingly the accounts of the Trustees should bo made up in the following way: On the debit side the amounts realised by the sale of stock and in cash, and on the credit side the amount paid over by the Trustees to the Agent-General for credit of the Public Account. I am, &c, F. D. Bell, Executive Trustee of the Sinking Fund of the Loan of 1863. The Crown Agents for the Colonies, Downing Street.

No. 10. —Tho Agent-Genebal to the Tbustees of the Sinking Fund of 1863. Gentlemen, — Westminster Chambers, 10th April, 1891. I beg to enclose a copy of the prospectus issued by tho Bank of England for tho conversion of various New Zealand loans now in course of being effected. Up to the present time the following progress has been made in the conversion, viz. : (1.) The amount of 6-per-cent, debentures of the loan of 1863 sent in to tho Bank of England for conversion is £50,100 ; and (2) the amount of

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