Sargeaunt to Elliot (Assistant Under-Secretary)

Referring to your letter of the 7th instant authorizing the
Trustees of the British Columbia Sinking fund to invest the proceeds of
£17679.2.5 Consols in the forthcoming issue of Ceylon Debentures, I have
the honor to request that the Trustees of the Vancouver Island Sinking
Fund may be furnished with a similar authority with regard to a
sum of £5619.6.4 Consols now standing to their credit on that account.

The gain to the Colony on this reinvestment will be £120 per annum.