8.—25

22

On behalf of the New Zealand Government we have to request that you will be good enough to carry out the arrangement for cancelling the debentures, and that you will, on behalf of such Government, pay to the Commissioners the amount of the composition payable for stamp duty in respect of the stock as the same becomes inscribed in your books. We also, on behalf of the New Zealand Government, authorise you to issue to the holders of this further issue of inscribed stock who may desire the same from time to time stock certificates to bearer in pursuance of the provisions of " The Colonial Stock Act, 1877." And we authorise and request that the same fee shall be charged for the issue of stock certificates as is charged in like cases. And we further authorise you to transmit dividend warrants by post in the same manner and on the same conditions as warrants for dividends on the Government funds are sent. We have, &c, P. G. JuLYAN, W. B. Perceval, The Governor and Company, Bank of England. Stock Agents of the New Zealand Government.

Enclosure 4 in No. 40. Gentlemen, — 13, Victoria Street, London, S.W., 23rd February, 1894. Wo beg to request and authorise you to inscribe on your receipt of this letter, in the names of Sir Westby Brook Perceval and Charles Wray Palliser, both of 13, Victoria Street, London, S.W., £350,000 of New Zealand 3J-per-cent. Consolidated Stock, being a portion of the amount of £5,000,000 stock created by deed-poll dated 20th February, 1894. We are, &c, P. G. Julyan, W. B. Perceval, Stock Agents for the New Zealand Government. The Governor and Company of the Bank of England.

No. 41. The Colonial Tbeasueek to the Agent-Genebal. (No. 81.) Sic,— The Treasury, Wellington, 17th April, 1894. I have to congratulate you on the splendid sale effected of £50,000 of our 3J-per-cents at the price 98-J, but hope to be able to further congratulate you on sales effected at par and over. As you have been able, however, to create stock in anticipation of the receipt of the Cheviot debentures, it will not be necessary to exchange securities with the Post Office ; therefore Cheviot debentures, amounting to £175,000, will be sent to you at the earliest possible moment, in order that they may reach the Bank of England for cancellation. It has occurred to me that, with the cash in hand derived from the released sinking fund of the 1867 consols, and the proceeds of the sale of 3-|-per-cent. stock, you may not require to obtain an advance on the 18th from the Bank of England, and this would leave the guaranteed debentures free for use should you require them for the necessary finance of the Ist proximo. You are also fairly well supplied with remittance paper, which you have not required to make much use of. I have, &c, The Agent-General for New Zealand, London. J. G. Waed.

No. 42. The Colonial Teeasueee to the Agent-Genebal. (No. 83.) Sic,— The Treasury, Wellington, 19th April, 1894. Referring to my letter of the 17th instant, intimating that it was only intended to reissue and convert £225,000 debentures under " The Cheviot Estate Payment Act, 1893," it has now been represented that additional funds are required for the Cheviot Account, to enable the expenses connected with the " roading "of the property to be defrayed. I have therefore created and issued a further debenture (No. 71) for £25,000, which will be included in the parcel sent you, under separate cover, for conversion into 3|-per-cent. inscribed stock. With this debenture the full limit of authority under the Act has now been availed of. I have, &c, The Agent-General for New Zealand, London. J. G. Waed.

No. 43. The Colonial Teeasukee to the Agent-Geneeal. (No. 85.) Sic,— The Treasury, Wellington, 19th April, 1894. Eeferring to my letter of the 17th instant (No. 81), I have the honour to enclose herewith copy of narration of debentures for £200,000, issued under "The Cheviot Estate Payment Act, 1893," which are being transmitted in a parcel to you by this mail, in order that they may be converted into 3-J-per-cent. inscribed stock. The parcel should be opened in the presence of the Audit Officer, and the contents checked with the accompanying narration, and a receipt signed by the Audit Officer and yourself endorsed on the narration, which should be returned to me by first mail. I have, &c, The Agent-General for New Zealand, London. J. G. Waed.