1.—6

16

two double safe-doors, now in store, and which can be used for any strong-rooms that may be required. 248. When were they bought ? —They were sent for the proposed new strong-rooms which were ordered to be built, but which the Board stopped in view of making other arrangements for a new building. A new lavatory was built and other additions made, and other expenses incurred. 249. What is proposed to be done in regard to the building ? —After considerable deliberation, the Board decided to call for competitive designs for a complete building, cost not to exceed £35,000, exclusive of architect's commission. Two prizes were offered : £200 for the first, and £75 for the second design. The designs were received on the 15th January, 1886, and, after inspection and report by Messrs. O'Conor and Beatson, the premiums were awarded —the first to Mr. Joshua Charlesworth, of Auckland, and the second to Mr. Thomas Turnbull, of Wellington. The latter gentleman declined to accept the second premium, and his design was returned to him. There were, in all, twenty designs sent in. In March last the Board decided to intrust to Messrs. Toxward and Charlesworth jointly the carrying-out of the new building, and appointed them the architects for that purpose, and directed them to prepare working-plans and specifications, tenders to be subsequently called for, for the erection of the building, or such portion of it as the Board might decide to erect. The architects are now finishing the working-plans and specifications, which are nearly completed. Tenders have not been called for. 250. Is that building for the purpose of your business ?—Yes; and also for giving accommodation to the Public Trustee and sundry other offices outside our department. 251. Have you sufficient accommodation for the conduct of your own department in the buildings now ?—No, not enough. 252. Why could you not utilize the portion of the building you have let?—We could do that but it would inconvenience those who are in it. 253. Did the designs for the new buildings referred to contemplate the removal of the present building? —Yes, it was to be an entirely new building; though it is not yet definitely decided what portion shall be at first proceeded with.

Return of the Annual Rentals paid by the Various Tenants in Wellington, showing the Rents originally charged and those paid at the Present Time, 18th June, 1886.

Monday, 21st June, 1886. Mr. D. M. Luckie in attendance and further examined. Witness handed in certified copies of certificates of title of Christchurch properties. He also submitted a schedule of mortgages. Witness : The following is a complete list of the Auckland valuators, which I promised to furnish on a previous day :W. Aitken, town and country; J. Frater, town and country; F. J. Moss, town and country; Major Wilson, country; J. B. Whyte, country; W. A. Graham, country. 254. Mr. Stewart.] Will the schedule of mortgages show the interest in arrear ?—There is no arrear. All interests on mortgage have been paid up to the 31st May last. I shall furnish the Committee with a schedule of total investments, as it was not quite ready this morning. The Chairman : After what had taken place at a previous meeting, I thought it desirable to obtain further information about the Dunedin purchase; and, after consulting members, I sent a telegram on the 16th to Messrs. Hepburn, McLandress, and Co., to which I received the following answer :— Sir,— Dunedin, 18th June, 1886. Your telegram of the 16th instant camo duly to hand, as follows : " Please communicate by letter, for information of Select Committee inquiring into purchase site Wise's corner, Dunedin, by Insurance Association, whether price put upon property was influenced by consideration commission to be paid; how much commission was paid by vendors, and to whom ; and any other information you can give connected with the purchase." In answer, we beg to lay before you the following : In March, 1884, we were instructed by the proprietors to offer at auction the property known as " Wise's corner." This was accordingly done ; but, the bidding not reaching the vendor's limit, the property was withdrawn. It remained in our hands for private sale, the proprietors fixing the limit at £35,000 clear of any charge, we to get our commission over that amount. Shortly after, we received a communication from Mr. Charles Reid, asking the lowest price that would be taken for the property. As the transaction was rather a largo one, we wished to know with whom we were dealing. We replied, asking who the purchasers were. We were told by Mr. Reid he was not at liberty to state, but that we would be paid in cash as soon as the transaction was finished. On that being done, it turned out the Government were the purchasers. On Mr. Reid finding that nothing less than £35,000 would be taken, he said he must have £500 commission. We replied we did not care what price he put it at, so long as the vendors got their price—viz., £35,000 net. He then said to make the price £35,500 in the contract, which was done. As we, as brokers, were getting no commission from the vendors, we arranged with Mr. Reid to divide commissions. The contract was completed, and tho purchase-money—viz., £35,000 —was paid to the different owners in their proportions by cheques from. Messrs. Sievwright, Stout, and Co., which were duly paid. The £500 added .on to the purchase-money we never handled. On completion of the purchase we called on Mr. Reid for our sbaro of the

Tenant. Originally charged. Present Eontal. Remarks. !rown Lands and Survey £ s. a. 440 0 0 £ s. a. 400 0 0 The rate was originally fixed at £440 per annum, but was afterwards reduced to £400 per annum as from the commencement, 8th October, 1884. Left 27th August, 1885. tegistrar of Friendly Societies ler Majesty's Customs Registrar of Births, &c. .. * jand and Deeds and Land Transfer Vellington Education Board 34 0 0 66 0 0 34 0 0 276 0 0 100 0 0 66 0 0 34 0 0 276 0 0 100 0 0 Total 950 0 0 876 0 0