8.—14 a.

Enclosure 5 in No. 22. Conversion of 1893.—Table showing the Equivalent in 3 ½-per-cent. Stock of a £100 Debenture of the Undermentioned Loans for the Half-yearly Period 1st July, 1893.

Example : Thus, if the value of £100 debenture of the Otago Loan is £108 19s. Bd. (taken at 4 per cent, interest), and that of the 3J-per-cent. inscribed stock is 94, then £115 18s. 9d. of 3J-per-cent. inscribed stock (repayable at par forty-nine years hence) is the equivalent of £100 debenture of the Otago Loan. A. H. Bailey. 15th July, 1891. ' Ralph P. Haedy.

Enclosure 6 in No. 22. Conversion of 1894.—Table showing the Equivalent in 3½-per-cent. Stock of a £100 Debenture of the Undermentioned Loans for the Half-yearly Period 1st January, 1894.

Example : Thus, if the value of £100 debenture of the Otago Loan is £108 3s. 3d. (taken at 4 per cent, interest), and that of the 3J-per-cent. inscribed stock is 94, then £115 Is. 4d. of 3J-per-cent. inscribed stock (repayable at par forty-nine years hence) is the equivalent of £100 debenture of the Otago Loan. A. H. Bailey. 15th July, 1891. Ralph P. Haedy.

Enclosure 7 in No. 22. Conversion of 1894.—Table showing the Equivalent in 3½-per-cent. Stock of a £100 Debenture of the Undermentioned Loans for the Half-yearly Period 1st July, 1894.

27

j Amount of 3£-p< °o «co Consoli- Auckland ■g 9 dated Loan, Loan, 1863. % l 1867. gS _ 3 hI« Valued at Valued at OT £10512s. Od. Amount of 3|-per-cent. Inscribed Stock, equivalent to each £100 Debenture of the Stocks in the Market Prices of 3*-per-cent. Stock, as shown. Lyttelton and Christchurch Eailway Loan, 1860. ; Canterbury Loan, 1862. licated, taken at Otago Loan, 1862. Nelson Loan, 1874. £28,700. £21,300. Valued at Valued at £10118a. lOd. £18,500. Valued at £10414s. 3d. £9,200. ' £10,000. Valued at | Valued at £106 9s. 5d. : £128 13s. 3d. £12,200. Valued at £129 17s. lOd. Valued at £10819s. 8d. Valued at £108 8s. Id. 93 93* 94 94] 95 05.; 90 96* 97 97* 98 W 3 Pj £ s. d. 113 11 0 112 18 10 112 6 10 111 14 11 111 3 2, 110 11 7 no o o! 109 8 8 108 17 4J 108 6 2 107 15 2! ! o '3 P^4 £ s. d. 109 12 3 109 0 7 108 9 0 107 17 6 107 0 2 106 14 11 106 3 9 105 12 9 105 1 11 104 11 2 104 0 5 £ s. d. 112 11 11 111 19 10 111 8 0 110 10 2 110 4 6 109 12 11 109 1 7 108 10 3 107 19 1 107 8 0 106 17 0 £ s. d. 114 9 0 113 17 0 113 5 4 112 13 5 112 1 6 111 9 9 110 18 2 110 6 8 109 15 4 109 4 1 108 12 11 £ s. d. 138 6 11 137 12 2 136 17 6 136 3 0 135 8 8 184 14 6 134 0 5 133 6 7 132 12 10 131 19 3 131 5 9 £ s. 'd. 139 13 5 138 18 5 138 3 8 137 9 1 136 14 7 136 0 3 135 6 1 134 12 1 133 18 2 133 4 6 132 10 10 £ s. d. 117 3 8 116 11 2 115 18 9 115 6 6 114 14 4 114 2 4 113 10 6 112 18 8 112 7 1 111 15 7 111 4 2 £ s. d. 116 11 3 115 18 9 115 6 5 114 14 8 114 2 2 113 10 2 112 18 5 112 6 8 111 15 1 111 3 8 110 12 3

lount of Inscri ibed Stock, ei the Market ] [uivalent to each £100 Debenture of t 'rices of 3|-per-cent. Stock, as shown. le Stocks indicated, take: n at °g <D-4J to c X i, M ? CO Consolidated Loan, 1867. Auckland ; Lyttelton a: Loan, 1863. ! id Christelr irch Eailwa; Loan, 1860. Canterbur Loan, 1802. Otago Loan, 1862. Nelson Loan, 1874. Valued at v fS°- t £104 14s. 3d.j vaJuecl at £21,300. Valued at £100 19s. 7d. £18,500. Valued at £103 10s. 2d. £9,200. £10,600. Valued at Valued at £105 12s. Od. £128 4s. 8d. £12,200. Valued at £129 9s. lOd. Valued at £108 3s. 3d. Valued at £107 Is. 5d. Valued at 93 93* 94 041, 95 05] 96 96* 97 97* 98 m o "3 ft £ s. d. 112 11 11 111 19 10 111 8 0 110 16 2 110 4 6 109 12 11 109 1 7 108 10 3 107 19 1 107 8 0 106 17 0 as o £ s. d. 108 11 8 108 0 0 107 8 6 106 17 2 106 5 11 105 14 9 105 3 9 104 12 10 104 2 1 103 11 5 103 0 10 £ s. d. Ill 12 5 111 0 6 110 8 8 109 17 0 109 5 5 108 14 0 108 2 8 107 11 6 107 0 4 106 9 5 105 18 6 £ s. d. 113 11 0 112 18 10 112 6 10 111 14 11 111 3 2 110 11 7 110 0 0 109 8 8 108 17 4 108 6 2 107 15 2 £ s. d. 187 17 9 137 3 0 136 8 5 135 14 0 134 19 8 134 5 7 133 11 7 132 17 9 132 4 0 131 10 6 130 17 1 £ s. d. 139 4 9 138 9 10 137 15 1 137 0 7 136 6 1 135 11 10 134 17 9 134 3 9 133 9 11 132 16 3 132 2 8 £ s. d. 116 6 1 115 13 6 115 1 4 114 9 2 113 17 1 113 5 2 112 13 5 112 1 8 111 10 2 110 18 9 110 7 5 £ s. d. 115 2 7 114 10 3 113 18 1 113 6 1 112 14 2 112 2 4 111 10 8 110 19 1 110 7 8 109 16 4 109 5 1

It si 5 Pi CO Ate lount of 3J-per-cent. Inscribed Stock, e the Market 1 jquivalent to each £100 debenture of the Stocks indicated, taken at Prices of 3*-per-cent. Stock, as shown. Consolidated Loan, 1867. Auckland Lyttelton and Christchu Loan, 1863. _ irch Eailway Loan, 1860. j Canterbur; Loan, 1862. Otago Nelson Loan, 1862. ' Loan, 1874. Valued at Valued at £103 16s. 2d. £28,700. £21,300. Valued at Valued at £18,500. £9,200. £10,600. Valued at Valued at Valued at £102 17s. 8d. £104 14s. 3d. £127 16s. Od. £12,200. Valued at £129 Is. 7d. Valued at ' Valued at £107 6s. 6d. '£105 14s. 3d. 93 93* 94 94* 95 95* 96 96* 97 97* 98 d o '3 ft £ s. d. Ill 12 5 111 0 6 110 8 8 109 17 0 109 5 5 108 14 0 1.08 2 8 107 11 0 107 0 4 106 9 5 105 18 6 d o '3 ft d o '3 ft £ s. d. 110 12 7 110 0 9 109 9 0 108 17 5 108 6 0 107 14 8 107 3 5 106 12 4 106 1 4 105 10 5 104 19 8 £ s. d. 112 11 11 111 19 10 111 8 0 110 16 2 110 4 6 109 12 11 109 1 7 108 10 3 107 19 1 107 8 0 106 17 0 £ s. d. 137 8 5 136 13 8 135 19 2 135 4 9 134 10 6 133 16 5 133 2 6 132 8 8 131 15 1 131 1 6 130 8 2 £ s. a. 138 15 11 138 1 1 137 6 4 136 11 10 135 17 6 135 3 3 134 9 2 183 15 3 133 1 5 132 7 10 131 14 3 £ s. d. 115 8 1 114 15 9 114 3 6 113 11 5 112 19 6 112 7 8 111 15 11 111 4 4 110 12 11 110 1 7 109 10 4 £ s. a. 113 13 4 113 1 3 112 9 2 111 17 3 111 5 6 110 13 10 110 2 4 109 10 11 108 19 8 108 8 5 107 17 5 md iortExample: Thus, if the that of the 3*-per-cent. y-nine years hence) is t: 15th July, 1891. value of £100 debentu; . inscribed stock is 94, be equivalent of £100 d re of the Ol then £114 lebenture o: tago Lo:>.n 3s. 6d. of S f the Otago is £107 6s. 6d. (taken at 4 per cer 3.1-per-cent. inscribed stock (repa; Loan, A. H. Baii Ralph P. : t. interest), ?able at par JEY. Haedy.