THE NEW ZEALAND GAZETTE.

Colonial Defence Office,
Wellington, 19th March, 1869.

HIS Excellency the Governor has been pleased to
award the Decorative Distinction instituted by
Order in Council dated tenth March, one thousand
eight hundred and sixty-nine, to the under-mentioned
men of the Armed Constabulary, whose claims to
the same have been submitted to His Excellency on
account of the Acts of Bravery performed by them
respectively, as stated against their names:---

T. M. HAULTAIN.

Treasury,
Wellington, 25th March, 1869.

HIS Excellency the Governor has been pleased to appoint

WILLIAM DICK MURISON, Esq.,
to be Deputy Auditor for the Province of Otago,
under the provisions of "The Provincial Audit Act,
1866."

E. W. STAFFORD.

CONTINUED CONVERSION OF THE OLD DEBEN-
TURES OF THE GENERAL AND PROVINCIAL
GOVERNMENTS OF NEW ZEALAND INTO NEW
5 PER. CENT. CONSOLS UNDER THE LOAN ACT
OF 1867.

THE Crown Agent for the Colonies, acting on
behalf of the Government of New Zealand,
will be prepared to exchange new 5 per cents.,
created under authority of the Act above referred to,
for debentures bearing various rates of interest,
which have from time to time been issued under the
following Acts and Ordinances.

The interest on the new securities will be paid
quarterly, and the principal will be paid at par by a
1 per cent. cumulative sinking fund, applied by annual
drawings to the extinction of the debt. By this pro-
cess the whole amount will be paid off in about
thirty-six years.

159

The terms on which the old debentures may be
exchanged for new are as follows, viz. :-

For every 100 General Government old 5 per
cents. payable in 1914, holders may receive 99 new
5 per cent. consols.

For every 100 General Government 6 per cents.
payable in 1891, holders may receive 113 new 5 per
cents.

For every 100 6 per cents. of the Provincial
Governments of Auckland, Canterbury, and Otago,
holders may receive 109 new 5 per cents.

For every 100 Otago 8 per cents., issued under
Loan Ordinance, 1861-2, and payable in December,
1875, holders may receive 115 new 5 per cents.

For every 100 Otago 8 per cents., issued under
Loan Ordinance, 1861-2, and payable in July, 1874,
holders may receive 113 new 5 per cents.

For every 100 Otago 8 per cents., issued under
Loan Ordinance, 1862, and payable in November,
1874, holders may receive 113 new 5 per cents.

For every 100 Otago 8 per cents., issued under
Loan Ordinance, 1862, and payable in October, 1875,
holders may receive 115 new 5 per cents.

For every 100 Canterbury 8 per cents., issued
under Loan Ordinance, 1856, and payable in 1873,
holders may receive 110 new 5 per cents.

For every 100 Wellington 8 per cents., issued under
Loan Ordinance, 1862, and payable in 1877, holders
may receive 118 new 5 per cents.

For every £100 Wellington 8 per cents., issued
under Loan Ordinance, 1866, and payable in 1886,
holders may receive £128 10s. new 5 per cents.

For every 100 Nelson 8 per cents., issued under
Loan Ordinance, 1864, and payable in 1876, holders
may receive 116 new 5 per cents.

For every 100 Nelson 8 per cents., issued under
Loan Ordinance, 1864, and payable in 1881, holders
may receive 124 new 5 per cents.

The bonds will be made to represent sums of
£1,000, £500, £200, and £100 respectively, and
fractions of the latter amount, which may be unavoid-
able in the conversion, will be adjusted either by the
issue of one bond, more or less, and by the payment
of the difference in money, at the time of conversion.

The annual drawings will take place in the month
of March, commencing in 1869, and will be conducted
in the presence of the Crown Agents for the
Colonies, of any debenture-holders who may be
pleased to attend, and of a notary public. The
debentures drawn will be paid off at par, on the 15th
April following, together with the interest due
thereon.

The days on which such drawings are to take place
and the numbers and values of the debentures drawn,
will be duly notified by advertisement in the London
Gazette and the Times.

The New Zealand Government will receive bonds
for exchange, and will give an order on the Crown
Agents for an amount of new 5 per cent. consols
corresponding with the advertised terms of con-
version. The Government will be responsible for
the transmission of the old bonds to England.

As payment of interest on new bonds has to be
made in London, and the annual drawings will also
be made there, those bonds will have to be deposited
in the hands of some person resident in the United
Kingdom. For the convenience of persons who have
not agents there, Mr. Morrison, the New Zealand
Agent in London, will, on application, act as agent
for such persons in respect of those bonds.

E. W. STAFFORD.

The Treasury, Wellington, New Zealand,
6th February, 1869.