23

8.—16

No. 39. The Loan and Stock Agents to tho Colonial Treasurer. Sir, — 7, Westminster Chambers, London, S.W., 4th November, 1886. We transmit to you herewith six copies of the deed-poll by which we have created the new stock of £1,567,800, together with the declaration we have enrolled at the Inland Bevenue; also copy of a letter we have addressed to the Bank of England. AVe have, &c, F. D. Bell, P. G. Julyan, The Hon the Colonial Treasurer, Wellington. Stock Agents.

Enclosures in No. 39. Gentlemen, — 7, Westminster Chambers, S.W., 3rd November, 1886. Adverting to tho recent issue of £1,567,800 4-per-cent New Zealand Consolidated Stock made through you by tho New Zealand Government, we have now to acquaint you that, by a deed-poll, dated the 6th October, 1886, under our hands and seals, a printed copy of which we send herewith, and which has now been duly enrolled, we have set forth the terms and conditions which were arranged with you and mentioned in the prospectus of the loan issued by you on our behalf. We have made the declaration required under " The Colonial Stock Act, 1877," under tho authority of the seal of the colony, and have lodged the same with the Commissioners of Inland Revenue so as to bring the stock under the provisions of that Act; a printed copy of which declaration we also send herewith. You are therefore enabled to carry out the arrangements entered into with you on behalf of the Government for the inscription of the said stock. Arrangements will be made with the Commissioners of Inland Revenue to pay the composition for stamp duty, so as to enable the stock after inscription to be transferred free of duty, and for the Commissioners accepting payment of this duty from you, in accordance with the arrangements agreed upon with them with reference to the previous issues of inscribed stock by our Government. We have now, on behalf of our Government, to request that you will be good enough to carry out this arrangement, and pay to tho Commissioners, out of moneys in your hands belonging to the Government, the composition payable for stamp duty in respect of this new issue of stock as it shall be inscribed in your books. We also authorize you, on behalf of such Government, to issue to the holders of this stock who may desire tho same from time to time, stock certificates to bearer in pursuance of the provisions of " The Colonial Stock Act, 1877." We also authorize and request'that the'same fees shall be charged for the issue of stock certificates to bearer as are charged in like cases for the issue of certificates for Metropolitan Board of Works Stock, and we further authorize you to transmit dividend warrants by post in the same manner and on the same conditions as the warrants for dividends on the Government stocks are sent out. We have, &<_., F. D. Bell, The Governor and Company of tho P. G. Julyan, Bank of England. Stock Agents of the New Zealand Government.

To all to whom these presents shall come, we, Sir Francis Dillon Bell, a Knight Commander of the Most Distinguished Order of Saint Michael and Saint George, and a Companion of the Most Honourable Order of the Bath, the Agent-General for the Colony of New Zealand, and Sir Penrose Goodchild Julyan, a Knight Commander of the said Most Distinguished Order of Saint Michael and St. George, and a Companion of tho Most Honourable Order of the Bath, send greeting: Whereas by an Act of the Legislature of New Zealand intituled " The New Zealand Consolidated Stock Act, 1877," it was among other things enacted, that for the purpose of raising any sum or sums of money under tho authority of any Act that might be passed by the said General Assembly in any future session of tho General Assembly authorizing the Governor in Council to raise by way of loan any sum of money for the public service of the colony, it shall bo lawful for tho Governor in Council to create capital stock, to be called " New Zealand Consolidated Stock," such stock to be issued in such amounts and manner, at such prices and times, on such terms and subject to such conditions, with such dividends, and redeemable at par at such times and on such conditions, as the Governor in Council might before the creation thereof from time to time determine: And by the said Act it was further enacted that tho Governor in Council might from time to time declare all or any of the New Zealand loans, whether existing in the form of stock or not, to bo convertible into stock of such denominations with such conditions and with such dividends and redeemable at par at such times and on such conditions as he might before the creation thereof from time to time determine, and might authorize the creation and issue of such an amount of such stock in exchange for the securities held for such loans as might be necessary, and might authorize tho creation and sale of any of such stock for the purpose of paying any expenses in the creation of stock, and otherwise carrying out the provisions of the said Act on such conditions as he might determine, and any conversion so authorized might be effected either by arrangement with the holders of the existing securities, or by purchase thereof out of moneys raised by a sale of tho now stock, or partly in one way and partly in the other : And by tho said Act it was further enacted that the Governor in Council might from time to time appoint three or more persons in England to bo Agents for the purposes of the said Act, and might empower such Agents or any three or more of them to exercise all or any of the powers by the said Act exercisable by the Governor in Council; and, further, that the said Act should not come into operation nor be of any force and effect whatever until it should be declared to be so in operation by a Proclamation issued by tho Governor in Council and published in the New Zealand Gazette : And whereas by a Proclamation made and issued by the Governor in Council on the 9th day of February, 1878, and published in a supplement to the Neio Zealand Gazette of the same date, the Governor, with the advice and consent of the Executive Council of the said colony, did proclaim and declare that " The New Zealand Consolidated Stock Act, 1877," should be and come into operation on and after the 9th day of February, 1878 : And whereas under and by virtue of the said Act, New Zealand Consolidated Stock was created and issued to the amount of £5,371,200, which was duly inscribed in tho books of the Governor and Company of the Bank of England in the names of the several persons respectively entitled thereto, on the terms and conditions mentioned in a certain deed-poll, bearing date the Ist day of December, 1879, under the hands and seals of me the said Sir Penrose Goodchild Julyan, and of Sir Julius Vogel, a Knight Commander of the said Most Distinguished Order of St. Michael and St. George, and of Montagu Frederic Ommanney, Esquire, who had been duly appointed Agents in England for the purposes of the said Act, and had been duly empowered to exercise all the powers by the said Act exercisable by the Governor in Council, such stock bearing interest at the rate of 4 per cent, per annum, payable half-yearly at the Bank of England on the Ist day of May and the Ist day of November in each year, until the Ist day of November, 1929, on which day the capital is to be repaid at par at the same place : And whereas by another Act of the said Legislature, intituled " The New Zealand Consolidated Stock Act 1877 Amendment Act, 1881," it was enacted that, notwithstanding anything in " The New Zealand Consolidated Stock Act, 1877," contained, tho Governor in Council might appoint only two persons to be the Agents for the purposes of such Act, who should have, exercise, and perform all the powers, authorities, or duties by such Act given to, vested in, or imposed upon, the Agents appointed under such Act, and that throughout such Act the words " tho Agents " should be deemed to refer to and include the two persons by the now reciting Act authorized to bo appointed to be the Agents for the purposes of " The New Zealand Consolidated Stock Act, 1887 " :