Berens to Newcastle

Referring to the Correspondences which has already passed on the subject of the
advances made by this Company on account of the Island of Vancouver
and which are to be reimbursed to this Company on the Island being
reconveyed to Her Majesty, I have now the honour to transmit herewith
the further accounts in continuation of those which I had the honour
to transmit to the then Colonial Minister, under date the 4th
November 1858, terminating with a balance in favour of the Company of
£46,524:12:6. The subsequent accounts have been corrected by
charging one half only of the outlay in searching for Coal at Fort Rupert, as agreed with the Government, and after crediting all monies
received in the Colony on account of Government, and the £25,000
received on the 23rd February 1860, there remains a balance in favour
of the Company of £53,569:14:2.

I should, however, observe that in these accounts the expenditure
incurred by the Company in the erection of Offices &c for the
Government has been included. These Buildings have mainly been
erected on the Land claimed by this Company to be theirs irrespective
of the Grant from Her Majesty, and should the right of the Company to
that Land be confirmed, it will be optional with Her Majesty's
Government whether they will purchase the site of the Buildings in
question in that case paying of course for the expenditure. On the
other hand should the Company's right to the Land not be established,
the outlay will of course be properly charged to the Government.