Sargeaunt to Elliot (Assistant Under-Secretary)
Crown Colonies Office
6 Adelphi Terrace, Strand W.C.
1 June 1863
Adverting to your Letter of the 18 Dec last on the subject of [the] Vancouver Island Loan of £40,000 and to Clause XIII of the Loan Act of 1862, I have the honor to request that you will move the Duke of Newcastle to determine the nature of the securities in which the sums paid on account of the Sinking Fund are to be invested and to select the Trustees for the same.
I would suggest that the Governor of Vancouver Island, to meet the requirements of Clause XIII of the Act before referred to should be instructedtoManuscript image to remit punctually to the Agents General the Sum of £2000 in time for the payment of the half years interest and Sinking Fund due on the 15 July and 15 January in each year.
I have the honor to be
Your obedient Servant
W.C. Sargeaunt
Agent General
Minutes by CO staff
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Mr Elliot
In a minute on 5424 I have suggested that one of the Agents General & the Chief Clerk for this Office should be the Trustees for the B. Columbia Sinking fund. And I think that they wd also be suitable nominees in this case.
Instruct the Governor to remit the sums required for the 1/2 yearly payment of the interest and sinking fund.
ABd 3 June
Upon this letter I should follow exactly the same course as minuted upon 5424 B. Columbia so farasManuscript image as regards investment, Trustees, and punctual remittance of interest and sinking fund.
With regard to the debt due to the Agents from Vancouver Island, I should refer the Governor to instructions for which I have submitted a minute on the Agents 5070, telling him that the same would be discharged out of the proceeds of the loan raised in England.
TFE 5 June
CF 6
N 8
Other documents included in the file
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Draft reply, Newcastle to Douglas, No. 23, 11 June 1863.
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Elliot to G.A. Hamilton, Treasury, 13 June 1863, asking for an opinion on the financial arrangements of the colony relative to the sinking fund.