LOAN FOR PUBLIC WORKS IN CANADA.

Auckland Chronicle and New Zealand Colonist, Volume 2, Issue 58, 12 September 1844, Page 3

LOAN FOR PUBLIC WORKS IN CANADA.

Treasury Chambers, April 29,1844Whereas, by an Act passed in the 6th year of Her Majesty's reign, intituled "An Act for guaranteeing the payment of the Interest on a Loan of £\ 500,000 to be raised by the Province of Canada," Her Majesty was empowered to guarantee the pay* ment of the interest on any loan, to any amount, not exceeding £1,500 000, which might be raised for the service of the province of Canada, under any act to be passed by the legislature of the naid province, in the manner and under the conditions in the said act mentioned : And whereas, by an aot of the legislature of the province of Canada, intituled, *• An Act to authos rise the raising, by way of Loan, in England, the sum of £1,500,000 sterling, for the Construction and Completion of certain Public Works in Canada." Her Majesty is empowered to borrow, with the guarantee aforesaid, the sum of ,£1,500,000 : And whereas'her Majesty has been pleased, by warrant, to appoint three or more of the Commissioners of her Majesty's Treasury, to borrow, b) debentures, such sums as may be from time to required for the service of the said province, n. 4 exceeding in the whole the sum of ,£1,500,000 : This is to give notice, that the Lords Cotnmissioneis of her Majesty's Treasury will be ready to dispose of debentures or bonds to the amount of ,£300,000 ; and that tenders fot the purchase Of the same, addressed to the Secretary to the Treasury, with the words " Tender for Canada Debentures," written on the outside, will be received at the Treasury at any time previously to two o'clock in the afternoon on Friday next, the 3rd of May. The tenders must state at length the sums proposed to be paid for each £IOO contained in the debentures, with the name and address of the party. No tender will be accepted for any sum less thau £SOOO. The bonds will be redeemable at the of twenty years from the Ist of April, instant, and will bear interest from the said Ist of April instant. until redeemed at the rate of four per cent, per annum, payable half-yearly at the Bank of England, on the Ist day of October and Ist day of April, The bonds will be made out in sums of £SOO i ach. One half of the sum tendered and accepted, wil' be payable at the Bank of England, on Monday* the l3ih day of May next, when a scrip receipt for the same be given to the party, and on the payment of the other half, on or before Monday, the 27th day of May, the debentures will be delivered. The tenders will be opened in the presence of the governor and deputy governor of the Bank of England ; and previously to the opening of the tenders the Lords Commissioners of Her Majesty's Treasury will place in the hands of the governor and deouty governor of the Bank of England ; a sealed paper, containing the lowest price per cent., which their lordship should feel that they should be justified in receiving for the debentures. The tenders will be all opened at the same time, when a list will be made of (hem, aud a preference will be given Successively to the highest tenders above the price in the sealed paper; and if such tenders should, in their aggregate, exceed the amount of £300,000, the excess above that amount will be struck off the hast advantageous of those tenders. In case of equality offenders, in respect of the premium per cent., and their amounting together to more than the sum required, the amount of deben. tures will be divided in proportion to the amount of such tenders. Notice will be given to the party or partie 8 whose tenders are accepted, and they will be re" quested to attend at the Treasury at an appointed ime, to sign the contract for the debentures.