8.—17.

Example: Thus, on any day on which the market prices are as follows: Loan of 1863: Sixes of 1891, £111; 4-per-cent. inscribed stock, £101 —then, £109 18s. of 4-per-cent. inscribed stock is the equivalent of £100 of the (1863) Sixes of 1891. A. H. Bailky. 26th January, 1886. Balph P. Haedy.

Example : Thus, on any day on which the market prices are as follows : Loan of 1863 : Sixes of 1891, £110; 4-per-cent, inscribed stock, £101—then £108 18s. 3d. o 4-per-cent. inscribed stock is the equivalent of £100 of the (1863) Sixes of 1891. A. H. Bailey. 26th January, 1886. Ralph P. Habdy.

Example: Thus, on any day on which the market prices are as follows : Loan of 1860: Fives of 1914, £113; 4-per-cent. inscribed stock, £101 —then, £111 17s. Bd. of 4-per-cent. inscribed stock is the equivalent of £100 of the (1860) Fives of 1914. A. H. Bailey. 26th January, 1886. Ralph P. Habdy. Five-Million Loan of 18Y9: Fives of 1889. Amount, £524,000: ) Interest, 5 per cent. : f_- Ma, rket ?lj° ci *9*. *° . - Eepayable Ist November, 1889.} Payable Ist May and Ist November. {j^^^Z^tlA

39

Loan of 1863: Sixes of 1891. Amoi Repayable l Mm ™ % t i i. a i. i Market Price, 109 to 1: ant, £201,500: ] Interest, 6 per cent.: J -y„i llp March 1R6P IT)' 'd 15th March, 1891.} Payable 15th March and 15th September, j^ 4 j nter J t> 11. id. paid), ISs. 9d. Market Price of 4-per-cent. Inscribed Stock. Amount of 4-per-cent. Inscribed Stock, equivalent to each £100 of the above Stock, at the Market Prices undershown. Market Price of 4-per-cent. Inscribed Stock. 108} 109 109} 110 1101 111 111} 99 99} 100 100} 101 101} 102 £ s. d. 109 11 11 109 0 11 108 10 0 107 19 2 107 8 6 106 17 11 106 7 5 £ s. d. 110 2 0 109 10 11 109 0 0 108 9 2 107 18 5 107 7 9 106 17 3 £ s. d. 110 12 1 110 1 0 109 10 0 108 19 1 108 8 4 107 17 8 107 7 1 £ s. d. Ill 2 3 110 11 1 110 0 0 109 9 1 108 18 3 108 7 6 107 16 10 £ s. d. Ill 12 4 111 1 1 110 10 0 109 19 0 109 8 1 108 17 4 108 6 8 £ s. d. 112 2 5 111 11 2 111 0 0 110 8 11 109 18 0 109 7 2 108 16 5 £ s. d. 112 12 6 112 1 2 111 10 0 110 18 11 110 7 11 109 17 1 109 6 3 99 99} 100 100} 101 101} 102

Loan of 1863: Sixes of 1891. Amoi Repayabli tnt, £329,900: | : 15th June, 1891. } Interest, 6 per eent.: Payable 15th June and 15th December. ( Market Price, 108 to i Value, Deo. 1885 (Divide) (At 4 per cent. Interest, £11 110. ad paid), )915s. 9d. Market Price of 4-per-cent. Inscribed Stock. Amount of 4-per-cent. Inscribed Stock, equivalent to each £100 of the above Stock, at the Market Prices undershown. Market Price of 107} 108 108} 109 109} 110 110} Inscribed Stock. 99 99} 100 100} 101 101} 102 £ s. d. 108 11 9 108 0 10 107 10 0 106 19 4 106 8 9 105 18 3 105 7 10 £ s. d. 109 1 10 108 10 10 108 0 0 107 9 3 106 18 8 106 8 1 105 17 8 £ s. d. 109 11 11 109 0 11 108 10 0 107 19 2 107 8 6 106 17 11 106 7 5 £ s. d. 110 2 0 109 10 11 109 0 0 108 9 2 107 18 5 107 7 9 106 17 3 £ s. d. 110 12 1 110 1 0 109 10 0 108 19 1 108 8 4 107 17 8 107 7 1 £ s. d. Ill 2 3 110 11 1 110 0 0 109 9 1 108 18 3 108 7 6 107 16 10 £ s. d. Ill 12 4 111 1 1 110 10 0 109 19 0 109 8 1 108 17 4 108 6 8 99 99} 100 100} 101 101} 102

Loan of 1860: Fives of 1914. Amo' Repayable mt, £488,000: \ 15th July, 1914. j Interest, 5 per cent.: J ■- , ■«*»* to115 Payable 15th January and 15th July. January 1886 (Dividend paid), J J I At 4per cent. Interest, £116 18s. 3d. Market Price of 4-per-cent. Inscribed Stock. Amount of 4-per-cent. Inscribed Stock, equivalent to each £100 of the above Stock, at the Market Prices undershown. Market Price of 4-per-cent. Inscribed Stock. 112} 113 113J 114 114} 115 115} 99 99} 100 100} 101 101} 102 £ s. d. 113 12 9 113 1 4 112 10 0 111 18 10 111 7 9 110 16 9 110 5 11 £ s. d. 114 2 10 113 11 4 113 0 0 112 8 9 111 17 8 111 6 7 110 15 8 £ s. d. 114 12 11 114 1 5 113 10 0 112 18 8 112 7 6 111 16 5 111 5 6 £ s. d. 115 3 0 114 11 5 114 0 0 113 8 8 112 17 5 112 6 4 111 15 4 £ s. d. 115 13 2 115 1 6 114 10 0 113 18 7 113 7 4 112 16 2 112 5 1 £ s. d. 116 3 3 115 11 7 115 0 0 114 8 7 113 17 3 113 6 0 112 14 11 £ s. d. 116 13 4 116 1 7 115 10 0 114 18 6 114 7 2 113 15 10 113 4 9 99 99} 100 100} 101 101} 102