I have the honour to acknowledge the receipt of 
M
                  Under-Secretary Elliot's letter of the 
22 ultimo, on the subject
               of the Per Centage of 10 Per Cent reserved to this Company by the
               Grant of 
Vancouvers Island, upon all sales that might be effected by
               the Company and I beg to signify my entire concurrence that the
               Company's right to that Per Centage should be considered
at
 at an end
               from the time when by the payment of the agreed sum for this
               Company's expenditure on the Island the Government became entitled to
               a reconveyance of it.
               
               I believe that sales have been made under the authority given by this
               Company to 
Governor Douglas with the particulars of which we are not
               acquainted but upon which if made before the payment to this Company
               of their advances I presume the Per Centage will be payable.