CO129-223 - Governor Sir Bowen Acting Governor Marsh & Others - 1885 [11-12] — Page 216

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