8.—14

8

New Zealand Three-and -a-half-per-cent, Loan of 1889, for £2,7000,000.—Statement of Amounts subscribed at the various accepted Prices.

Enclosure 3 in No. 21. New Zealand Government £3_-peb-cent. Stock.—lssue of £2,700,000, repayable at par Ist _nuary, 1940.—Minimum Price of Issue, £95 per Cent.—First Dividend, being Six Months' Interest, payable Ist July, 1890,—Issued under the " New Zealand Consolidated Stock Act, 1877 :" For the purpose of paymg off the Balances unconverted of the New Zealand 5-per-cent. Loan of 1879, due Ist November, 1889, £388,000; and of the £5-per-cent. 10-40 Loan of 1878, duo Ist March, 1890, £2,207,300. Tttf Governor and Company of the Bank of England give notice that, on behalf of the Agents appointed for raising and managing loans under the above Act (Sir Francis Dillon Bell, K.C.M.G., 08, and Sir Penrose Goodchild Julyaii, K.C.M.G, C.8.), they are authorised to receive tenders for £2,700,000 New Zealand Government £3.-per-eent. stock, renavable at par on the Ist January, 1940. The books of the stock will be kept at the Bank of England, whore all assignments and transfers will be made. Holders of the stock will be able, on payment of the usual fees, to take out stock certificates to bearer, with coupons attached which certificates may be reinserted into stock at the will of the holder. All transfers and stock certificates will be free of stamp duty. The dividends on the stock will be payable at the Bank of England half-yearly, on Ist January and Ist July, and the first six months' interest, calculated upon the nominal amount of stock, will be payable Ist Jnlv 1890. Dividend warrants will be transmitted by post if desired. _ ' The loan is secured on the Consolidated Fund of the Colony of New Zealand, which includes the revenue derived from the railways, and from the sales and leases of public lands. By the Act 40 and 41 Viet., ch. 59, the revenues of the Colony of New Zealand alone will be liable in respect of this stock and the dividends thereon, and the Consolidated Fund of the United Kingdom and the Commissioners of Her Majesty's Treasury will not be directly or indirectly liable or responsible for the payment of the stock or of the dividends thereon, or for any matter relating thereto. _ Tenders may be for the whole or any part of the stock, and must state what amount of money will be given for everv £100 of the stock Tenders for other than even hundreds of stock, or at a price including fractions of a shilling other than sixpence, will not be accepted. Tenders must be delivered at the Chief Cashier's Office, Bank of England, before 2 o'clock on Friday, the 25th October, 1889. Tenders at different prices must be on separate forms. The amount of stool/applied for must be written on the outside of the tender. The minimum price, below which no tender will be accepted, has been fixed at £95 for every £100 of stock. A deposit of £5 per cent, on the amount of stock tendered for must be paid at the same office at the time of the delivery of the tender, and the deposit must not be enclosed in the tender. Where no allotment is made the deposit will be returned, and in case of partial allotment the balance of the deposit will bo applied towards the first instalment. In the event of the receipt of tenders for a larger amount of stock than that proposed to be issued at or above the minimum price, the tenders at the lowest price accepted will be subject to a pro rata diminution. The dates at which the further payments on account of the said loan will be required are as follows : On luesday, the sth November, 1889, so much as, when added to the deposit, will leave eighty pounds (sterling) to be paid for each hundred pounds of stock ; on Wednesday, the 26th February, 1890, the balance of £80 per cent., which may be raid either in cash or in 5-per-cent. 10-40 bonds due Ist March next at par, ex the coupon. The instalments may bo mid in full on or after the sth November, 1889, under discount at the rate of £2_ per cent, per annum. In case of default in the payment of any instalment at its proper date, the deposit and instalments previously paid will be liable to forfeiture. , . Serin certificates to bearer will bs issued in exchange for the provisiontil receipts. - _ _ The stock will be inscribed in the Bank-books on or afer the 26th February, 1890, but scrip paid up m full, m anticipation, may be inscribed forthwith. „,,„-,_. t, i c must be upon the printed forms which _ay be obtained at the Chief Cashier s Office, Bank of England ; and of Messrs. Mullens, Marshall and Co, 4, Lombard Street ;.and at the office of the Agent-General of New Zealand, V, Westminster Chambers, S.W. Bank of England, London, 18th October, 1889.

Subscription. Price. Amount payable. Subscription. Price. Amount payable. £ 2,100 200 300 1,000 1,000 1,300 1,000 1,000 11,700 100 700 200 4,000 10,000 9,100 300 5,200 20,300 25,000 32,500 75,000 44,000 20,500 3,000 128,000 16,000 51,600 28,200 £ s. a. 100 0 0 99 0 0 98 5 0 98 1 6 98 1 0 98 0 0 97 5 0 97 1 6 97 0 0 96 18 6 96 15 0 96 13 6 96 12 6 96 10 6 96 10 0 96 9 6 96 8 6 96 7 6 96 7 0 96 6 6 96 6 0 96 5 6 96 5 0 96 4 0 96 3 6 96 3 0 96 2 6 96 2 0 £ s. d. 2,100 0 0 198 0 0 294 15 0 980 15 0 980 10 0 1,274 0 0 972 10 0 970 15 0 11,349 0 0 96 18 6 677 5 0 193 7 0 3,865 0 0 9,652 10 0 8,781 10 0 289 8 6 5,014 2 0 19,564 2 6 24,087 10 0 31,305 12 6 72,225 0 0 42,361 0 0 19,731 5 0 2,886 0 0 123,104 0 0 15,384 0 0 49,600 10 0 27,100 4 0 £ 89,200 262,800 34,000 199,000 5,300 6,000 107,000 7,000 65,400 76,000 45,000 13,000 59,200 57,600 40,000 4,000 94,000 8,500 114,600 175,500 7,200 182,000 26,700 137,700 50,000 5,000 335,000 £ s. d. 96 1 6 96 1 0 96 0 0 96 0 0 95 19 6 95 19 0 95 18 6 95 18 0 95 17 6 95 17 0 95 16 6 95 16 0 95 15 6 95 15 0 95 14 6 95 14 0 95 13 6 95 13 0 95 12 6 95 12 0 95 11 6 95 11 0 95 10 6 95 10 0 95 9 6 95 9 0 95 8 6 £ s. d. 85,698 18 0 252,419 8 0 32,048 10 0 191,040 0 0 5,086 13 6 5,757 0 0 102,639 15 0 6,713 0 0 62,702 5 0 72,846 0 0 43,121 5 0 12,454 0 0 56,698 16 0 55,152 0 0 38,290 0 0 3,828 0 0 89,934 10 0 8,130 5 0 109,586 5 0 167,778 0 0 6,881 8 0 173,901 0 0 25,505 3 6 131,503 10 0 47,737 10 0 4,772 10 0 319,673 15 0 £2,700,000 |£2,587,538 17 0 1889. Average price, £95 16s. 8-34d. F. M. .Y, Chief Cashier. Bank of Eng: [and, 26th October.