8.—13b

2

General for the Colony of New Zealand, to be Agents for the purpose of raising and managing the said loan hereby ordered to be raised, with full power and authority to such Agents to borrow and raise by debentures or scrip, or by issue of inscribed stock under "The New Zealand Consolidated Stock Act, 1877," or otherwise, the said sum of one million five hundred thousand pounds sterling as aforesaid, and with full power and authority to such Agents to prescribe the mode and conditions of the repayment of the aforesaid loans, and the time of such repayment, and, subject to the provisions of the said Act, the rate of interest thereon, and the time and place or places when and where such principal and interest shall be made payable, and with full power and authority to such Agents to agree, as often as occasion may require, that debentures issued by them shall be converted into stock created or issued under " The New Zealand Consolidated Stock Act, 1877," and either to specify the terms of such conversion or arrange that such terms shall be subsequently agreed upon, and also with full power and authority to such Agents to delegate wholly or partly to any two or more other Agents the powers hereby and by the said Act vested in the said Agents, subject, however, to such conditions as the Agents delegating such powers shall think fit, and generally to have, hold, and exercise all such powers and authorities as by the said Act may be had, held, and exercised by the Agents appointed thereunder in respect of the moneys hereby authorised to be borrowed and raised. Alex. Willis, Clerk of the Executive Council.

No. 3. The Colonial Treasurer to the Agent-General. (No. 120.) Sir,' — The Treasury, Wellington, 29th November, 1894. I have the honour to transmit herewith an Order in Council authorising the raising of £1,500,000 under " The Government Advances to Settlers Act, 1894," and appointing Sir Penrose Julyan and yourself as Agents for the purpose. The Government have not yet decided upon the amount to be raised, nor the time when it will be required, but I shall be able to send you such particulars by cable. In the meantime, it will be as well for you to make all requisite preliminary arrangements, so that there will be no loss of time in announcing the loan when it is decided to raise it. I have, &c, A. J. Cadman, The Agent-General for New Zealand, London. For the Colonial Treasurer.

No. 4. The Colonial Treasurer to Sir Penrose Julyan. (No. 544.) Sir, — The Treasury, Wellington, 29th November, 1894. I have the honour to transmit herewith an Order in Council authorising the raising of £1,500,000 under " The Government Advances to Settlers Act, 1894," and appointing yourself and Sir Westby Perceval Agents for the purpose. The Agent-General has informed me that, at my request through him, you have consented to act as one of the Agents for raising the loan, and I desire to express my gratification that the Government are to have the benefit of your services in this important operation. As I have informed the Agent-General, the Government have not yet decided when the loan is to be brought out, nor how much will be presently asked for, but information on these points can be sent to you by cable. I have, &c, A. J. Cadman, Sir Penrose G. Julyan, K.C.M.G., C.8., For the Colonial Treasurer. Care of the Agent-General for New Zealand.

No. 5. The Colonial Treasurer to the Agent-General. Agent-General, London. Wellington, 7th December, 1894. "The Government Advances to Settlers Act, 1894."—Have sent you authority to raise loan, instructions will be telegraphed when it is decided raise; meanwhile take preliminary steps at once, and cable your joint opinion of the prospects.

No. 6. The Agent-General to the Colonial Treasurer. The Colonial Treasurer, Wellington. (Eeceived Bth December, 1894.) " The Government Advances to Settlers Act, 1894."—What amount ? lam strongly of opinion time not opportune; Australasian inscribed stock falling, Bank of New Zealand call expected, Australian banking complications, and reported more than one new loan make market unfavourable. Strongly advise wait until market rallies, possibly February. *. London, 7th,