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Enclosure. 6 in No. 28. Sir,— Bank of England, London, E.C., 16th February, 1893. I am directed to acknowledge the receipt of your letter of the 14 th instant, in which you offer, on behalf of your Government, to purchase, at the price of 117 per cent., the £500,000 New Zealand 4-per-cent. guaranteed debentures now in the hands of the Bank, the terms of payment to be as specified in your letter of the 7th instant, and in my reply thereto of the Bth instant. I am now to inform you that the Governors accept your offer, and the Bank will accordingly be prepared, upon the transfer to them on the 14th March next of the £200,000 4-per-cent New Zealand Consolidated Stock already inscribed, and the £610,000 3J-per-cent. Consolidated Stock, into which the guaranteed debentures will be converted, to deliver to you the £500,000 guaranteed debentures, interest on the unpaid portion of the purchase-money being charged from the 14th March next at the Bank rate, with a minimum of 3 per cent, per annum. I am,&c, W. B. Perceval, Esq., Agent-General for New Zealand. F. May, Chief Cashier.

Enclosure 7 in No. 28. Gentlemen, — Westminster Chambers, 13, Victoria Street, 17th February, 1893. I beg to acknowledge the receipt of Mr. May's letter of the 16th instant, conveying to me your acceptance of the offer which I made on behalf of my Government for the purchase of the £500,000 guaranteed debentures now in the hands of the Bank. I am, &c, The Governor and Company of the Bank of England. VV. B. Peeceval.

No. 29. The Agent-Genekad to the Peemieb. (No. 299.) Westminster Chambers, 13, Victoria Street, London, S.W., Sic,— 15th March, 1893. Eeferring to my letter No. 178, of the 17th February last, I beg leave to state that the inscription of the £610,000 3|--per-cent. Stock, to be held by the Bank of England as security for the payment of the purchase-money of the £500,000 guaranteed debentures of the loan of 1863, was duly completed yesterday. At the same time the Trustees of the Sinking Fund transferred £200,000 of the 4-per-cent. Stock belonging to the fund to the Bank of England, and £36,191 ss. sd. to Mr. Palliser and myself to be held by us on behalf of the Government. The £500,000 debentures were then surrendered by the Bank and have been cancelled. The £10,052 12s. lid. of 3J-per-cent Stock, also belonging to the Sinking Fund, had already been sold for to-day's account, and the proceeds (£9,700 45.) have this day been paid into the Public Account. Of the £200,000 4-per-cent. Stock, £35,000 has been sold for to-day's account, and the proceeds (£37,274 75.) will be paid to the Bank of England in part payment of the purchase-money of the debentures. As there will be a large balance at the credit of the Public Account on receipt from the Crown Agents of a portion of the Consols Sinking Fund, I propose to pay thereout on the 17th instant a further sum to the Bank of £120,000 on account of the purchase-money. By doing this the Treasury will make 3 per cent, on the amount thus paid, instead of only 1 per cent., the interest allowed in case it remained in the Public Account. I attach copies of letters to and from the Bank of England, relating to the public notification of the conversion of these debentures. I also attach copies of the contract-notes for the sale of £35,000 4-per-cent. Stock, and £10,052 12s. lid. 3i-per-cent. Stock, being portions of the stock belonging to the released Sinking Fund. I enclose prints of the deed-poll and declaration relating to the creation of the 3-J-per-cent. Stock required for the purpose of this operation. I have, &c, The Hon. the Premier, Wellington. W. B. Peeceval.

Enclosure 1 in No. 29. Gentlemen, — 13, Victoria Street, 17th February, 1893. As it will now be necessary to arrange for the issue of the 3J-per-cent. Consolidated Stock into which my Government have decided to convert the £500,000 guaranteed debentures of the loan of 1863, I deem it right, as the management of the stock will be in your hands, to request you to favour me with your advice as to whether it will be necessary to make any public notification of the operation in question. I am, &c, The Governor and Company, the Bank of England, E.C. W. B. Peeceval.

Enclosure 2 in No. 29. Sib,— Bank of England, London, E.C, 20th February, 1893. I am directed to acknowledge the receipt of your letter of the 17th instant, with reference to the arrangements to be made for the issue of the 3J-per-cent. Stock into which your Government have decided to convert the £500,000 guaranteed debentures of 1863, and in reply to your inquiry, to say that the Governors are of opinion that it will not be necessary to make any public notification of the operation in question. I am, &c, E. E. Baly, W. B. Perceval, Esq., Agent-General for New Zealand. Deputy Chief Cashier.

Enclosure 3 in No. 29. 14th March, 1893. Beceived from the Agent-General for New Zealand the undermentioned debentures for cancellation—namely: Debentures bearing interest at the rate of i per cent, per annum, redeemable in fifty years from the Ist November, 1865;—