8—23

2

Enclosure 2 in No. 1. To All to whom these Presents shall come : Greeting 1 Whereas by section two of " The Aid to Public Works and Land Settlement Acts Amendment Act, 1898 " (hereinafter called the "said Act"), it is enacted that the power by the principal Act conferred upon the Colonial Treasurer to raise the therein-mentioned sum of one million pounds is thereby extended to include such additional sums, not exceeding in the whole the sum of five hundred thousand pounds, as he thinks fit: Provided that such additional sum of five hundred thousand pounds shall ba deemed to be irrespective of all moneys raised under the powers in that behalf contained in "The Aid to Public Works and Lmd Sittlement Act Amendment Act, 1897," and by section three of the said Act it is further enacted that, for the purp >se of enabling the said sum of five hundred thousand pounds to be effectively raised, all the powers, authorities, and provisions of the principal Act relating to the therein-mentioned sum of one million pounds shall extend and apply to the said additional sum of five hundred thousand pounds: And whereas it is expedient that such additional sum should be raised in Great Britain as hereinafter mentioned: And whereas by the principal Act it is also provided that all or any of the powers thereinbefore conferred upon the Colonial Treasurer (including the power relating to Agents) may be delegated by him to the Agent-General for New Zealand in London: And whereas it is expedient suoli last-mentioned power should be exeroised as hereinafter set forth : Now, therefore, in pursuance and exercise of the power and authority conferred by the sixth seotion of the principal Act, I, the Right Honourable Richard John Seddon, Colonial Treasurer of the said Colony of New Zealand, do hereby delegate to the Honourable William Pember Reeves, of Westminster Chambers, Victoria Street, London, the Agent-General for New Zealand in London, all the powers by the second, third, fourth, and fifth sections of the principal Act conferred upon the Colonial Treasurer (including the powers relating to Agents), so far as such powers relate to or can be exercised in respect of the raising in Great Britain of the said sum of five hundred thousand pounds as aforesaid under and subject to the terms and provisions of the said Act and the principal Act, and do hereby direct and empower the Slid William Pember Reeves, as such delegate as aforesaid, to raise the said sum of five hundred thousand pounds in Great Britain accordingly, under and subject to the terms and provisions of the said Act, as effectually as the same could have been done by me under such Acts as Colonial Treasurer as aforesaid. In witness whereof I have signed these presents at Wellington, in the Colony of New Zealand, this eighth day of November, 1898. R. J. Seddon. Witness to the signature of the Right Honourable Richard John Seddon— J. F. Andrews, Secretary to the Premier.

No. 2. The Agent-General to the Colonial Treasurer. (No. 1.) Westminster Chambers, 13, Victoria Street, London, S.W., Sib, — 3rd January, 1899. I beg to acknowledge the receipt of your letter (T. 98/1820), No. 187, of the 10th November last, transmitting duplicate Order in Council empowering the raising of £500,000 under "The Aid to Public Works and Land Settlement Acts Amendment Act, 1898," and also delegation under the provisions of the parent Act of 1896 ; and in reference thereto to state that, under the powers delegated to me by the last-named document, I have appointed myself and Mr. Walter Kennaway as Agents for raising the £500,000 authorised by the above-mentioned Act and Order in Council. I have, &c, The Right Hon. the Colonial Treasurer, Wellington. W. P. Reeves.

No. 3. The Agent-Geneeal to the Colonial Treasures. The Colonial Treasurer, Wellington. London, 3rd February, 1899. Having regard to reduction in Bank of England rate of discount to 3 per cent., and other prospects bein" encouraging, decided to arrange issue of million new loan immediately; accordingly the loan has been announced —minimum, 96 ; latest date for receiving tenders, 9th instant; instalments as follows: 5 per cent, deposit, 45 per cent. 20th February, 25 per cent. 25th April, 25 per cent. 23rd June, or payment in full subject to a discount of 2 per cent. Interest on new loan for six months payable Ist April.

No. 4. The Agent-General to the Colonial Treasurer. The Colonial Treasurer, Wellington. London, 9th February, 1899. New Loan.—Total amount tendered, £3,027,000. Average at which loan placed, approximately, £96 9s.

No. 5. The Colonial Treasurer to the Agent-Geneeal. The Agent-General, London. Wellington, 14th February, 1899. Warmly congratulate you on successful result of new loan.