8.—19

4

In view of this decision it will not be possible for me to hold out any hope that the Harbour Board bondholders' claims, as advanced by the Council, will be laid before Parliament by the Government at the next session, but of course there will be nothing to prevent any private member from acting in such a manner as he may consider right under the circumstances. Although the Government place full reliance in the sense and integrity of the members of the Stock Exchange, I feel confident the Council will hesitate to make use of their influence in the attempt to perpetrate a great wrong, and one by which the people of New Zealand as a whole would be made to suffer, if the injudicious course the Council threatens to pursue were to result in difficulties in the raising of the contemplated loan. I have, &c, The Agent-General for New Zealand, London. J. G. Ward.

No. 5. The Agent-General to the Premier. Premier, Wellington. (Beceived 6th April, 1895.) Foreign bondholders still threaten oppose quotations new loan. Meet Colonial Treasurer AgentGeneral Monday. Send at once latest figures financial position Harbour Board. What interest, payable in London, have Harbour Board remitted? (London, sth.)

No. 6. The Premier to the Colonial Treasurer, London. Colonial Treasurer, London. Wellington, 6th April, 1895. Will cable financial position Harbour Board to-morrow. • • • B. J. Seddon.

No. 7. The Secretary, New Plymouth Harbour Board, to the Premier. Hon. the Premier, Wellington. (Beceived 6th April, 1895.) On thirty-first December last the Board was three-fourths of the November first coupon in arrear —four thousand five hundred. Have since remitted to London enough money to pay this and also one-half of the May first, 1895, coupon, leaving three thousand pounds in arrear. This will probably be worked off by thirty-first December, 1895. Largest amount in arrear was ten thousand six hundred pounds, on December thirty-first, 1890; reduced now to three thousand. Have paid full amount and over twice since default—fourteen thousand pounds in 1893, and fifteen thousand in 1894. Amount interest, twelve thousand. C. Bennell, Secretary, Harbour Board, New Plymouth.

No. 8. The Premier to the Colonial Treasurer, London. Colonial Treasurer, London. Wellington, 7th April, 1895. Secretary Harbour Board advises that 31st December last three-fourths November coupon in arrear —£4,500. Board have since remitted payment in full, also half May, 1895, coupon, leaving only £3,000 in arrear, and this will, it is very probable, be paid off by 31st December next. Arrears in December, 1890, were £10,600; now reduced to £3,000. Board have twice paid full amount of coupon and over since default—£l4,ooo paid in 1893, £15,000 in 1894. Interest payable, £12,000.

No. 9. The Colonial Treasurer, London, to the Premier. Premier, Wellington. (Beceived 9th April, 1895.) Besult conference bondholders is proposal made by Council arbitrate on single issue, Was the 200,000 acres restored to Natives part of endowment of Harbour Board ? all other allegations being withdrawn. I recommend you agree to this. Think it desirable settle this vexed question. Ward. (London, Bth.)

No. 10. The Premier to the Colonial Treasurer. The Colonial Treasurer, London. Wellington, 10th April, 1895. Harbour Board proposal for arbitration waiting Cabinet action. Council simply repetition threat February, 1892: see Lubboek's letter that date.