293
i
or of
Inscribed Mock, or partly of awe and partly of the other.
one
ho..
The provisions roben 1 Co.
borrowing phall be upon
De beutings.
are contained in Sect 4 to 21,
and
puch
experience has
proved the most puitable for
the London Runey Market. Khoney
The draft Ordinance provider
that the Debentuos phall bear
interest at
pate not exceeding
Sper Cant, we do not propose
to
2
Cossico
exceed 41⁄2 or portaps 4 per Bouck;
still it would appear
to leave against
ar
advisa
ble
margin to provide impropition market,
In
Sr. Sec. 22 to 29 provision
made for barning
215
Encribed Stock
It is not only advantageous, but almost
necessary when inviting tenders for
loaia to
1. give
the lender the option
of Dobentines or Suscribed Shock. in:
a
or
pecent case, wo disposed of the unallotted balonice of
Coloval.
Government loans, only on condition that the Debenturer should be hereafter
convertible into Inscribed Stell.
I haus mit ales
draft of an
the
Order which phould be signed by
Governa
under the Seal
of
the Coloriy
appointing Agents to make the declaration:
required by the provisions of the Imperial " Colonial Stock Act 1877" _ Should the draft Ordniaince I have prepared law, that portion of it which provides for
ed becorive
an