8.—14 a.

13

£ £ Loan of 1863, March series ... ... ... ... 42,400 „ June series ... ... ... ... 28,700 „ December series ... ... ... 4,400 75,500 Loan of 1860, sent into bank ... ... ... ... 21,000 „ to be sent in ... ... ... ... 4,800 25,800 101,300 Provincial loans, — Lyttelton and Christchurch ... ... ... 6,200 Auckland 11,800 Otago ... ... ... ... ... ... 23,700 Canterbury ... ... ... ... ... 5,800 Westland (to be sent.in) ... ... ... ... 50,000 Nelson ... ... ... ... ... ... Nil 97,500 £198,800 And to this amount will have to be added the remaining debentures of the loan of 1860 as they come in to the Agent-General from the Union Bank of Australia. The amount of debentures of the loan of 1863 paid off by the Crown Agents to the 24th June is as follows : — £ £ March series ... ... ... ... ... 110,800 June series ... ... ... ... ... ... 143,600 254,400 The funds for paying off these debentures have been provided in the first instance (as reported in our letter of the 21st March above mentioned) by Commissioners' orders on the Public Account issued upon requisitions from the Crown Agents; and the Trustees of the Sinking Fund of the loan have paid into the Public Account the aggregate sum of £304,581 3s. 6d., in part release of that fund, as is separately reported by them to the Government. The aggregate amount of advances made by the Bank of England up to this date, under the arrangements reported to you in our letters of the 9th April (No. 584), and the 19th May (No. 815), is £200,000, of which £175,000 has now been repaid to the Bank. The amount of 3J-per-cent. conversion stock which the bank was authorised by us to inscribe as security for their advances was, as you are aware, £310,000. Out of this amount a transfer of £110,000 has now been made into the names of the Agent-General and the Audit officer, and the rest will be transferred in due course when all the advances are repaid and the accounts completed, as will be duly reported to the Government by us later on. The prospectus of the conversion having reserved the right to bring in debentures after the 15th June, it has not been necessary to close the conversion at that date, and instructions have been given to the Bank of England to continue receiving debentures for the present on the same terms as are specified in the prospectus. We have, &c, P. G. Julyan,) q, , . , The Hon. the Premier, Wellington. F. D. Bell, J bCOCK A g ents -

No. 14. The Agent-Geneeal to the Peemiee. (No. 1016.) Westminster Chambers, 13, Victoria Street, London, S.W., Sib,— 10th July, 1891. You will receive with this letter two formal reports from the Stock Agents and the Sinking Fund Trustees respectively on the progress made in the conversion. Since I last wrote, on the 26th June (No. 1010), a further addition of £51,600 has been made to the £198,800 of debentures then sent in (or to be sent in), and the aggregate amount now stands at £250,400, as follows :— Last Letter. Additions. Totals. o j) £ £ 1. Loan of 1860 ... ... 25,800 42,100 ... 67,900 2. Loan of 1863 — March series ... ... 42,400 ... 42,400 June series ... ' ... 28,700 ... 28,700 December series ... ... 4,400 9,500 13,900 85,000 3. Provincial loans, — Lyttelton and Christchurch (as before) ... 6,200 Auckland ... ... ... ... 11,800 Otago ... ... ... ... ... 23,700 Canterbury ... ... ... ... 5,800 Westland ... ... ... ... 50,000 Nelson ... ... ... ... ... Nil 97,500 £250,400