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PROVINCE OF AUCKLAND GOVERNMENT LOAN,
PROVINCE OF AUCKLAND
STATISTICALLY AND FINANCIALLY.
WILLIAM BROWN & Co., PRINTERS, 40 & 41, OLD BROAD STREET.
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NEW ZEALAND.--PROVINCE OF AUCKLAND
The Bank of New Zealand, Bankers to the General Government of New Zealand, and to the Provincial Government of Auckland, give Notice that they are authorised to sell by Public Tender the first Instalment of £100,000 of the Half-million Loan, issued under the authority of the Auckland Loan Act of 1863.
The Debentures with Coupons attached are issued in sums of £100, £250, £500 and £1,000, bearing interest at the rate of 6 per cent, per annum, commencing on 1st April, 1863, to be redeemed in 33 years by a sinking fund of £2 per cent, on the sum borrowed.
The principal is made payable at the option of the buyer, either at the office of the Bank of New Zealand, London, or at the office of the Superintendent of the Province of Auckland. The interest half-yearly at the Bank of New Zealand, London.
Tenders will be received until one o'clock, on Thursday, 1st October, 1863, specifying the total amount of Debentures required, and the premium per cent, which will be given for the same, to be addressed to the Directors of the Bank of New Zealand, with the words--"Tender for the Auckland Provincial Government Loan" written on the outside.
A deposit of £5 per cent, on the amount of each Tender must be previously paid to the Bank of London, Threadneedle Street, and receipt for same enclosed in Letter of Application.
Tenders will he opened in the presence of all persons interested at one o'clock, on Thursday, 1st October, 1863, at the Bank of New Zealand. The highest bidders shall be deemed the purchasers, provided the prices are not lower than the minimum placed in a sealed paper on the table before the Tenders are opened. Where Tenders are made upon the same terms, a pro rata distribution on such Tenders will be made.
The Debentures contracted for will be delivered at the Bank of London, Threadneedle Street, on Friday, 23rd October, between the hours of eleven and two o'clock, upon payment of the balance due thereon.
Area of the Province is about 17,000,000 acres.
European territory 1,879,459 acres.
Native territory 15,121,541 acres.
It is the object of the Provincial Government of Auckland to obtain funds to purchase from the natives the waste lands of the above 15,121,541 acres, and to plant upon them a European population; and it is calculated that the revenue accruing from such access of population would of itself be sufficient to liquidate the loan now sought to be negociated.
Distribution of Loan.
Redemption of Provincial Debentures due May 1st, 1865 .....£45,000
Public Buildings ...................................... 70,000
Immigration and Purchase of Land ...................... 200,000
To be advanced by way of Loans to Road Boards and Municipalities for the execution of Public Works....185,000
The principal and interest of this Loan are charged and made payable out of all revenues of the said Province.
In 1858 the revenue of the Province of Auckland was £65,507; in 1861 it amounted to £97,692. No later official returns have been compiled, but the revenue has materially increased since that date.
Forms of Tender may be had at the office of the Bank, together with copies of Loan Act, Empowering Act, and Letter of Confirmation by the General Government; also Sketch of the present position of the Province of Auckland, statistically and financially compiled by the Deputy Waste Lands Commissioner.
F. LARKWORTHY, Managing Director.
Bank of New Zealand, 50, Old Broad Street,
21st September, 1863.