B.—lB

10

No. 16. The Agent-General to the Colonial Tbeasuber. Westminster Chambers, 13, Victoria Street, London, S.W., (No. 348.) sth April, 1895. Sale of 2>\-per-cent. Stock. Memorandum to the Hon. Colonial Treasurer. I beg to enclose copy of brokers' sale-note relating to the further sale of £13,000 New Zealand 3-J-per-cent. stock for the 10th instant account. The proceeds of this sale will be paid into the Public Account in due course. W. B. Pebceval.

No. 17. The Agent-General to the Colonial Tbeasueer. Westminster Chambers, 13, Victoria Street, London, S.W., (No. 406.) 17th April, 1895. Sale of Stock. Memorandum to the Hon. Colonial Treasurer. Befeeeing to memorandum, No. 348, of the sth instant, I beg to enclose copy of sale-note of £10,000 New Zealand 3-J-per-cent. stock, the proceeds of which, together with that of the £13,000 stock (sale of which I advised in the above-mentioned memorandum), amounting in all to £23,344 6s. 6d., went into the Public Account on the 10th instant. W. B. Peeoeval.

No. 18. The Agent-General to the Colonial Tbeasuber. (No. 409.)' Westminster Chambers, 13, Victoria Street, London, S.W., Sic,— 17th April, 1895. Some weeks back T suggested to the Agent-General for New South Wales that the time was opportune when he, with the Agent-General for Queensland and myself, should interview the Governor of the Bank of England and urge the bank to reduce the charges for the management and inscription of the colonial stocks domiciled with it. At the interview we strongly urged the claims for the reduction, and discussed the matter very fully. No hopes were, however, held out to us by the Governor that our application would be favourably considered. Subsequently, I formally wrote to the bank asking for a reduction in the charges, which was formally declined. A few days later the Hon. J. G. Ward and I again brought the matter under the notice of the Governor and the Deputy-Governor, who then promised to reconsider the whole question. At a subsequent interview the Governor informed us that the bank had decided to make a reduction of £100 per million per annum. This will effect a saving of some £3,000 a year, but the charge is still, in my opinion, much higher than it should be. A copy of the correspondence is herewith enclosed. You will also see from the correspondence that the bank has conceded the point raised in my letter of the 7th November last as to special charges hitherto made by the bank for conversion work. I have, &c, The Hon. the Premier, Wellington. W T . B. Pebceval.

Enclosure 1 in No. 18. Sib,— Bank of England, London, E.C., 12th October, 1894. With further reference to the conversion of New Zealand debentures, I beg to state that the total amount of debentures now converted is as follows, viz. : — £5-per-cent. Consols — £ £ Annual drawings .. .. .. .. .. .. .. 285,000 Drawn bonds .... .. .. .. .. .. .. 7,500 292,500 £5-per cent, loan of 1863 .. .. .. .. .. .. .. 78,700 District Railways Purchasing Act, 4 per cent., 1885 .. .. .. .. 12,000 Province of Auckland, 6 per cent., 1896 .. .. .. .. .. .. 1,000 Province o£ Otago, 6 per cent., 1898 .. .. .. .. .. .. 9,100 Province of Canterbury, 6 per cent., 1915-16 .. .. .. .. .. 1,000 £394,300 The bank's charge for management of conversion amounts to £236 11s. 7d., being at the rate of £600 per million, and I shall feel obliged if you will forward a cheque for that amount. I may add that the bank does not appear to have received payment for the conversion of a further amount of £24,700-—viz., £14 16s. 4d. Tnese bonds were received subsequent to the amount of £247,600 of the conversion of 1891, on which management was paid in September, 1892. I am, &c, The Agent-General for New Zealand, J. G. Naiene, Westminster Chambers, 13, Victoria Street, S.W. Deputy Chief Cashier.

Enclosure 2 in No. 18. Sib, — Bank of England, London, E.G., 6th November, 1894. With further reference to the conversion of New Zealand debentures, I beg to enclose herein a list, which is in continuation of those already forwarded. I shall be obliged if, when forwarding the cheques asked for in my letter of the 12th October, you will include the following amounts, due in respect of the above-mentioned bonds, viz.: For commission to broker, £11 10s.; for management, £2 15s. 2d. I am, &c, The Agent-General for New Zealand, H. G. Bowen, Westminster Chambers, 13, Victoria Street, S.W. Chief Cashier.