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Government have to pay a larger sum than £632 for their freehold interest, I undertake to reimburse them the excess. It is understood that the boundary between my property and the fort is the fence erected by the Government. Yours, &c, H. M. Brewer, Esq. G. S. Kisslino.

(Telegram.) Wellington, 6th October, 1888. lie Point Eesolution. Posted memorandum yesterday in reply 7 to your telegram, showing how value of reversionary interest was arrived at—namely, on the assumption that the average marketrate of interest would be 4 per cent., and that the land would be worth £20,000 at termination of present lease. This made reversionary interest £2,812 ; but I omitted to add capitalised value of rental, which for fifty years, again taking 4 per cent, as the market-rate of interest, would come to £365: total, £3,177. This is not quite the same as amount you mention; but term of lease to expire is probably not quite fifty years. The actual calculations by which I arrived at figures y#u mention are, 1 think, contained in one of the Public Works files of papers which you have got, near bottom of file. Dr. Giles, Besident Magistrate, Auckland. C. Y. O'Goknok.

(Telegram.) 9th October, 1888. ■Can you tell me how you arrive at £20,000 as estimated value of property at expiration of lease ? C. Y. O'Connor. " J. Giles, E.M.

(Telegram.) Auckland, Bth October, 1888. Point Eesolution Commission. —When you approved Mr. Brewer's action in bargaining to give Kissling freehold of land not required by Government, did you believe that-Church Trustees were privy to that arrangement, or did yoiuno't consider the point, or do you think you were in any way misled? Your answer to this question will oblige us. J. Giles, E.M., Hon. J. Ballance, Wanganui. Commissioner.

(Telegram.) Wanganui, 9th October, 1888. Had no reason to suppose that arrangement was not known to all the parties. Believed Brewer <loing best in interests of colony, and that the other parties would guard their own interests. Have no reason at present to suppose I was misled. J. Giles, Esq., Eoyal Commissioner, Auckland. J. Ballance.

From B. Tones and Co., illustrating Price of Land. (Put in by Mr. G. S. Kissling.) G. S. Kissling, Esq. Auckland, 10th October, 1888. 1 CEBTIFY that at the sale of the late Edward Costley's properties held at our mart on the 10th October, 1883, we sold the premises then in the occupation of Fisher and Co., and being Lot 1, subdivision of Allotment 1, Section 17, Queen Street, 26ft. 4-in. by a depth of 92ft. 10in., subject to a lease for forty years from 22nd August, 1881, at a rental for the first twenty years of £156 per annum, and for the second twenty years at a rental of £208 per annum, lessee to leave at expiration of lease buildings of at least the value of £2,000. Sold for the sum of £3,800. Purchaser, Mr. Wm. Aitken, as agent for the New Zealand Freezing and Storage Company. Eobt. C. Cake, Auctioneer.

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