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PAPERS In relation to the settement of Fishermen and others and the development of Deep Sea Fisheries… British Columbia. Legislative Assembly 1892

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 55 Vict. Development of Deep Sea Fisheries. 681
In relation to the settlement of Fishermen and others and the development of Deep
Sea Fisheries in the Province of British Columbia.
Minister of Finance.
V8th March, 1892.
Victoria, B.C.,  19th September, 1891.
Sir,—Referring to the interviews we have had with you before and after our exploratory
cruise round Vancouver and Queen Charlotte Islands, we have the honour to state that the
object of our mission here is to arrive, if possible, at an understanding with your Government
as to a plan by which a Commercial Company could be established, to work in conjunction
with the scheme of Crofter colonization; which we believe it is the intention of your Government to carry out with the assistance of the Imperial Treasury.
We understand that the allowance per family under the scheme referred to, will only be
sufficient to transfer the Crofter fishermen to your islands, instal them in their locations, and
provide them with the means of earning a livelihood, and that your Government recognise the
necessity for an organization which would step in and act as factors in carrying out the commercial work arising out of this colonization scheme. We assume that the primary object
your Government has in view, is the settlement of the vacant lands around your islands, by a
class whose principal business would be the development of the deep sea fishings of your
Province, and that in order to place the enterprise beyond a peradventure you are disposed
to welcome, on certain conditions, the establishment of a powerful company, which would
supply the necessary link between the settlers and the markets available for their produce.
Believing that the scheme offered an opportunity for the profitable employment of
capital, a responsible London Syndicate commissioned us to proceed to British Columbia to
investigate the subject and confer with you.
Through your kindness we have been able to make the round of the islands, and from
the information we have gained, we are convinced that the elements exist for the establishment of what ought ultimately to become a very important commercial enterprise, principally
in the organization and development of the deep sea fisheries of your Province, and in contingent industries arising therefrom.
It is our purpose to lay before you a full detail of the scope of the proposed operations,
and the methods by which the general plans would be carried out, so that your Government
may be able to form an opinion as to the lines on which the business will be developed. This,
however, we will only be able to do after our return from a visit to Mainland points as far
south as San Francisco, where we go for the purpose of ascertaining the market requirements
at those places, and also the question of rates to inland points reached by fhe various transcontinental roads.
Meanwhile we have come to the conclusion that the objects we have in view can only be
carried out by a command of capital sufficient to meet the fullest development of the scheme,
and that the company to be formed will require, to be established on a share capital of at least
£500,000 sterling, which amount would, we presume, be a guarantee to your Government of
the ability of the Company to cope with any extension of the enterprise, but capital would
only be called up from time to time as necessity might demand.
We do not expect that we shall have any difficulty iii convincing our Syndicate as to
the profitable nature of the work to be engaged in ; but you will, we think, concede that an
untried industry, however promising, does not in these days constitute sufficient grounds for 682 Development of Deep Sea Fisheries. 1892
the subscription of capital, and that, therefore, some substantial basis must exist on which
such capital can be subscribed, and that some kind of guarantee must underlie any estimate
of prospective profits.
From what we have already learned we have every reason to believe that the scheme is
a sound one from a commercial standpoint, but we are convinced that it would be useless to
attempt to form a company without some solid basis, and therefore suggest that a grant of
lands contiguous to or alternating with those set apart for the Crofters, would be the best
means of supplying the necessary foundation for the formation of the proposed Company.
The lands to be set apart for the Company would require to be contiguous to the seaboard, and suitable for fishermen and others which the Company would settle on them in
furtherance of the fishing and other industries, and might include timber, coal, and mineral
resources which would ultimately come within the scope of the Company's operations.
We venture to suggest, as the proposed capital of the Company would be £500,000
sterling, that the Provincial Government should grant to the Company for colonization and
commercial purposes 500,000 acres of lands, which, assuming the average value in their wild
state to be one dollar per acre, would represent a guarantee of say one-fifth of the capital of
the Company.
Presuming that this suggestion would be fair and reasonable, we have marked out on the
charts we used during our cruise, certain areas around your coasts, from which lands for the
Crofters and lands for the Company could be ultimately selected.
The areas marked are considerably in excess of the actual requirements of both, but our
experience on the trip showed us that selection would only be possible after careful survey,
as it could not be to the advantage of the Province, the Crofters, or the Company that allocations unsuitable or valueless should be included in these concessions.
We hand you herewith a memorandum of the proposed reservations, together with a set of
charts shaded yellow, for your information, and would suggest—the acreage to be granted
being first determined—that a sufficient number of years should be allowed for selection, the
survey being undertaken to an agreed extent per annum, at the joint expense of the Government and the Company, and as the reservations are surveyed and the lands selected, these
should be conveyed in fee simple by deed to the Company, taxation free till occupied.
The concessions and conditions under which these would be granted would, we presume,
be offered provisionally through us to the Syndicate, to be fully set forth in the prospectus,
and to be confirmed between your Government and the Company when the same is regularly
On such lines as these we believe the capital of the Company would be readily subscribed
and become available for application to the undeveloped resources around the seaboard of
your Province.
We have the honour to be,
Your obedient servants,
W. J. Engledtje,
Wm. Clark,
Commissioners for the Vancouver Island Development Syndicate (Limited),
19, St. Swithin's Lane, London, E.C.
To the Hon. John Robson,
Provincial Secretary, &c, &c,
Victoria, B.C.
P.S.—Our certificate of appointment as Commissioners of the Syndicate is herewith
Appointment of Commissioners.
This is to certify that at an Extraordinary General Meeting of the shareholders of the
Company duly convened and held at 19, St. Swithin's Lane, London, E.C, on Thursday, the 23rd
July, 1891, the agreement dated 15th July, 1891, providing for the appointment of Colonel
W. J. Engledue, R.E., and Major William Clark, as Commissioners to the Vancouver Island
Development Syndicate, to proceed to British Columbia on behalf of the Company, was
adopted, and the appointment ratified and confirmed.
A. J. Macphail,
19, St. Swithin's Lane, E.C, 24th July, 1891. Secretary. 55 Vict. Development of Deep Sea Fisheries. 683
Proposed as reservations from which the lands to be allocated under the Crofter Colonization
Scheme, and for the purposes of the Commercial Company, would be finally selected.
In all cases the estimate of acreage is only roughly approximated, and where descriptions
may be defective the yellow colourings on the accompanying charts should be taken as correct.
In the detail no mention is made of Indian Reserves or lands already allocated, but the
areas in each case are requisitioned subject to these reservations and allotments.
Port San Juan.
The area within the limits marked on Government plan as far east
as the eastern boundary line of Sections 4, 9 and 16, in Township 10,
bounded on the south by the northern Ihnit of Township 12, and on
the north-west and south-west by the red line limit of Government
plan, say  4,000 acres.
The area on Admiralty chart within latitude 48" 35' and west
longitude 124° 24' from the westerly limits of Government plan, including coastline between these parallels, say         12,000     ,,
Barclay Sound and Clayoquot Sound.
The area embracing the Cape Beale Peninsula, from Palchena Bay to
the existing Bamfielcl Creek allotments, say  1,500     ,,
The lands situated between latitude 48° 51' 20" and latitude 48° 54'
30", bounded on the east by longitude 124° 55', and bounded on the
west by the seaboard, say          10,000     ,,
The lands within the triangle on the east side of Alberni Canal,
between latitude 49° 4' 30" and the boundary line of the land grant of
the Esquimalt and Nanaimo Railway Company, say         23,000     ,,
Copper Island, Robber Island and the Deer Islands Group, say.... 5,000 ,,
Village Island, with Gibraltar, Nettle and Puzzle Island Group, say 1,400 ,,
Valley at the head of Uchucklesit Harbour, four miles long by two
miles wide, and running in a north-westerly direction, say  5,000 ,,
The lands embraced in the coast line from the Entrance to Pipe-
stem Inlet to a point in Tofino Inlet on latitude 49° 6' 40" and
longitude 125° 44' 20"; thence by a straight line to a point on latitude
48° 56' 30" and longitude 125° 30'; thence following the foot-hills in a
north-easterly direction to the point of commencement, say         20,000     ,,
Vargas Island, say  4,000     ,,
Flores Island, say         23,000     „
Esperanza Inlet and Nootka Sound.
The land south of latitude 49° 30',and lying between the sea coast
and Sydney Inlet, including Hesquiat Harbour, say         36,000     ,,
The land on Machalat Arm extending one mile on each side of
Gold River, and six miles upwards from its mouth, say  7,500     ,,
The promontory comprising  Port  Langford as  far  east  as a line
drawn through on 126° 53' west longitude, say  5,000     ,,
The land lying between Port Eliza and round the coast to the head
of Deep Inlet, including Catala Island, say        35,000     „ 684 Development of Deep Sea Fisheries. 1892
Quatsino to Esperanza, including Kyuoquot Sound.
The land on river at head of Tahshish Arm, one mile on each side
and extending ten miles inland from its mouth, say         12,800
Union Island and Table Island, say  5,800
A strip of coast line one mile wide, commencing with Bunsby Islands
around the shores of On On Kinch and Nasparte Inlets south-westwards to a point near Bankes Reef, say         21,000
Goletas Channel to Quatsino Sound.
The unallotted portions of Townships 30 and 39, and west half of
28; Townships 41, 42, 43, 44, 35, 34, 23 and 22, with the Cox, Lanz,
Galiano, Balaclava, Hirst and Gordon Group of Islands, say       118,000
Johnstone and Broughton Straits.
Malcolm Island, say        15,000
The lands on the mainland of Vancouver Island from and including
Beaver Cove, two miles back from seaboard, and north-west to head of
Hardy Bay, say        33,000
Cape Caution to Port Simpson.
Gribbel Island, and the peninsula formed by drawing a line from
Fisherman's Cove to the head of Triumph Bay, say        95,000
The portion of the Tsimpsean Peninsula lying between the Indian
Reserve on the west and the shore of Work Channel on the east,
and between latitude 54° 25' and latitude 54° 30', say  6,000
Middle and South Dundas Islands, say        20,000
Queen Charlotte Islands.
The portion of Graham Island between Masset Inlet and the west
coast, lying north of latitude 53° 40' and between west longitude 132°
15' and the east coast of Graham Island, bounded on the north by
latitude 53° 40'. The portion of Moresby Island, and its adjacent
islands as far south as latitude 52° 39', including Lyall Island and the
southern extremity of Moresby Island as far north as latitude 52° 17',
say      800,000
Total     1,319,000 acres.
Vancouver Island and Islands    398,000 acres.
Mainland and Islands    121,000     „
Queen Charlotte Islands    800,000     „
 1,319,000 acres.
W. J. Engledue,
Wm. Clark. 55 Vict. Development of Deep Sea Fisheries. 685
Victoria, B.C., 10th October, 1891.
Sir,—Referring to our letter to you of the 19th September, and to our promise to lay
before you in detail the lines on which the proposed Commercial Company would be advised
by us to operate, we beg to state that we would recommend the organization and division of
the work as regards the fisheries under the following headings:—
Fresh Fish.
For this department we would propose the erection of refrigerating storage at selected
points contiguous to the fishing settlements, where the fishermen would be able to deliver their
catch daily in perfectly fresh condition; and that special steamers should be built of high speed
and containing refrigerating machinery for the carriage of the fish from the outlying depots to
different market towns and railroad centres, and that at these points storage refrigerators
should be erected to receive the fish from the steamers, to be there stored for sale in the towns,
and for transport by refrigerator cars to inland markets.
Fish Curing.
Arrangements would be made for preserving, by all the best known methods, the surplus
catch of the larger descriptions of fish, as also the smaller kinds more specially suitable for
curing. Besides salting and drying, other advantageous methods would be put in operation
gradually, as experience warranted.
Oil from Edible Fishes.
Arrangements would be made for the erection of plant for the extraction of oil from herrings, oolachan and other edible fishes, as also for the manufacture of cod liver oil.
Oil from Non-Edible Fishes.
Arrangements would be made for carrying on the extraction of oil from dog fish and the
species of whale found around the islands.
Manufacture of Fish Products.
Our operations would include the recovery of all chemicals or products found to be profitable, particularly the manufacture of fish guano, from non-edible fishes, and from the offal of
other varieties.
The foregoing will serve to show you in what way we propose to cover the ground. It
will readily be seen that the system proposed will necessarily involve the outlay of large
amounts of capital both for installation and subsequent operation. We have given the matter
the most careful consideration, and as regards fresh fish we can find no other satisfactory way
of dealing with this branch. The perishable nature of the product demands that it should be
taken care of in such a way that a perfectly sound and marketable article can be guaranteed
to consumers throughout the year.
This system would insure a daily market for the fishermen at our outlying depots. The
fish would be delivered to the refrigerators, cleaned, gutted, and ready for storage, and could
be paid for by weight or per fish, as might be arranged, and if desired by your Government,
a per centage of the value could be retained, to be paid over by the company to the
Government for the liquidation of the advances made to the immigrants under the Crofter
Colonization Scheme.
We would propose a gradual extension from careful beginnings, increasing step by step, as
the labour available and market requirements warranted. Contingent industries would subsequently come within the scope of the company's operations. By means of saw-mills the company would be able to supply the lumber required on the settlements as well as for export.
Box-making, barrel-making, boat-building and ship-building, would also be amongst the branches
necessary for the conduct of its business. While on the lands allotted to the company, settlement would be steadily effected and the resources of these lands developed.
To carry out such objects, the company would be formed not for any speculative purpose
but for the commercial development of what are as yet practically untouched resources, and
lying in districts practically uninhabited.    We trust these explanations will enable you to 686 Development of Deep Sea Fisheries. 1892
judge as to the advantages to the Province of such an organization, and that your Government
will agree to grant, as a means of securing its operation, the concessions asked for in our letter
of the 19th ultimo. We have the honour to be,
Your obedient servants,
W. J. Engledue,
Wm. Clark,
Commissioners for the Vancouver Island Development Syndicate, Limited.
19, St. Swithin's Lane, London, E. C
To the Honourable John Robson,
Provincial Secretary, Sc, &c,
Victoria, B.C., 15th October, 1891.
Sir,—In our communications of the 19th September and 10th inst., we placed before you
our case, as regards the proposed Commercial Company, intended to work in conjunction with
the scheme for settling Scotch Crofter fishermen around your islands. In these letters we
made no reference to the question of selecting families from this part of the Old World population for settlement on your shores, neither have we entered into any special arguments in
favour of granting a footing to the proposed Commercial Company, believing that, as regards
both branches of the scheme, the benefits likely to accrue to the Province would be evident to
all unprejudiced persons anxious to see the outlying districts populated by self-sustaining
communities, and the latent resources of British Columbia steadily developed.
We have, however, heard various objections raised to the Crofter scheme, and are prepared also to learn that objections will be taken to the proposed Commercial Company, and
as these objections may take more specific shape when the scheme comes to be discussed in
your Legislature, we would desire to be allowed to place before you a few of the considerations
which have guided us throughout, and which may be helpful in placing the whole question
upon its merits. On becoming acquainted with the nature of the negotiations which were in
progress between your Government and the Imperial Treasury, the Syndicate which we
represent determined to follow the matter up, as we believed the scheme would afford profitable employment for thousands in opening up the deep sea fisheries of your Province, and that,
other things being equal, the commercial aspects of the scheme seemed to afford a good opportunity for the profitable employment of capital.
It was, however, necessary for us to look at the question from every standpoint, and first
of all we had to consider the adaptibility of the Crofters themselves, to the work they would
be engaged in. We were aware that prejudice existed in the minds of many regarding this
class, the result of imperfect knowledge of their circumstances and surroundings. In many
districts they are overcrowded and are unable to earn a livelihood, and are thereby the prey
of designing parties who have been only too ready to foster in their midst a spirit akin to
that which has taken root in certain districts in Ireland. We have, however, satisfied ourselves that in the main no better class could be settled on your shores than the fishermen who
crowd each other on the Scottish coasts. They have for generations been engaged in deep sea
fishing, and have had to pursue their avocations in a climate and on stormy seas compared
with which British Columbia is a veritable Paradise. Being trained from boyhood to this
work, they require no education in coming to this Province, and would speedily accustom
themselves to their improved surroundings. To judge from results in Nova Scotia and in the
Red River Settlement, which were originally peopled by this class, no better stock can be
found. Recent experience in Manitoba and the North-West, where members of this class
have been settled, has proved that as farmers many of them can show results equal to that of
their neighbours, and there can be no doubt that selected men will show even better results
as fishermen carrying on the business they have hitherto followed. It should also be borne
in mind that under such a scheme the best men as a rule volunteer to emigrate, the least
desirable from want of energy or ambition preferring to stay at home. Good, bad and indifferent are to be found in every community, but there is every reason to believe that the
best will form the colonies which are to be established round your islands, and we believe
that through the operations of the proposed Company their labours will be successful to the
benefit of all concerned. 55 Vict. Development of Deep Sea Fisheries. 687
We have heard it urged against the scheme, that these settlers will interfere with the
labour market. The reverse is the case. They come for the purpose of engaging in a new
industry, and the locations in which they will carry on their work will be in districts at
present remote and uninhabited.
They will trench on no existing industry, unless it be that the daughters of these families,
by engaging in domestic service, may displace Chinese labour round your homes—an intrusion
upon existing rights which even the most rabid labour advocate would not greatly deplore.
The operation of the scheme will bring in a class which do not exist in the Province, to populate outlying districts awaiting settlement, to engage in an industry which has not as yet been
organized, and by their labours to add to the revenues of your Province. Every producer is
in the nature of things a consumer of the products of others, and as such these fishermen will
be a benefit to the community.
We are prepared to hear that objection will be taken to any disposition on the part of
the Government towards encouraging the proposed commercial Company, and in particular as
regards the granting of lands for the purpose of securing its operation. It is a question for
all really interested in your progress to consider, if the benefits to be gained will not be cheaply
bought by a grant of lands as requested. The operations of the Company, humanly speaking,
will enable the Crofters to repay the advances made by the Imperial Treasury without risk or
anxiety to your Government, and in this safe and practical way you will be able to add some
twelve hundred and fifty families of skilled workers to your population, a community which
will in the course of time become an all important factor in developing the fishery wealth of
British Columbia.
By organizing and developing the deep sea fisheries around your coasts, the Company
will be able to add enormously to the wealth of the Province. Although thousands are
employed in your salmon fishing, which is strictly a river industry, the deep sea is practically
untouched, and when it is remembered that the Atlantic fisheries of Canada give employment
to nearly 70,000 men, the importance of this work to your Province can scarcely be overestimated.
The lands asked for form only a fractional percentage of what you possess, and lie in
districts where but for the operation of the proposed Company they might lie dormant for
the next quarter of a century. They are not asked to be alloted for any speculative purpose,
but as a basis on which to build the Company. They will, to a large extent, be required by
the Company for the settlement of the artisans and labourers required to carry on the direct
and contingent enterprises within its scope, and by means of subsidiary Companies the special
resources of the remainder will be developed. In this way the Province will not only benefit
by the Company's capital of half a million sterling, but large additional capital will be forthcoming to apply to special industries. Moreover, it will be evident that the colonization of
these outlying districts through the Company's operations will bring under enquiry for settlement, at a much earlier date than otherwise, the Government lands in these vicinities.
We have spent the last two months in exhaustive enquiry into every phase of the question,
and have placed our case before you in the belief that the advantages which will result to the
Province in the opening up of its latent resources will amply repay it for the concessions it is
asked to grant.
We court the fullest enquiry regarding the Syndicate which we represent and the nature
of the support behind it, and beg to assure you of its ability to carry out, through the
incorporation of the proposed Company, all agreements which may be provisionally entered
We trust you will accept these remarks in the same spirit in which they are offered, and
that they may be of some value in clearing up points requiring elucidation.
We have the honour to be,
Your obedient servants,
W. J. Engledue,
Wm. Clark,
Commissioners for the Vancouver Island Development Syndicate (Limited),
19, St. Swithin's Lane, London, E. C,
To the Honourable John Robson,
Provincial Secretary, &c, &c, Victoria, B. C, 688 Development oe Deep Sea Fisheries. 1892
Treasury Chambers,
Whitehall, S. W.,
June 10th, 1891.
Dear Mr. Beqg,—I am directed by the Chancellor of the Exchequer to communicate to
you in writing the result of your interview with him on June 3rd.
Her Majesty's Government are prepared to accede to the application of the Government
of British Columbia for a loan of £150,000 from the Imperial Government for colonization
purposes, upon the following conditions :—
(1.) The Government of British Columbia are to undertake, by the aid of the above-
mentioned sum, to transfer from 1,000 to 1,250 families of Crofter fishermen and others from
the Western Highlands and Islands of Scotland to British Columbia, to locate them on free
lands on the sea coast and islands of that country, and to provide them with dwellings and
means of livelihood.
It is proposed that the colonists should be transferred in parties, beginning with fifty
families; the whole number of families to be located within six years from the time of the first
settlement. It is hoped that the cost of settlement will be about £120 per family; but in any
case the cost is not to exceed £150 per family.
(2.) The sum of £150,000 is to be advanced in three instalments of £50,000. The first
instalment is to be advanced so soon as an Act providing for carrying out the scheme under
consideration, and containing the necessary financial clauses, has been passed by the Legislature
of British Columbia, in a form satisfactory to Her Majesty's Government. The second instalment is to be advanced when the first instalment has been expended upon settling such
number of families as it will provide for ; and the third instalment when the second has been
so expended.
(3.) The Government of British Columbia are to guarantee repayment of the sum
advanced, with interest at three per cent, per annum. Repayment of each instalment of the
loan is to commence at the end of five years from the date at which it was advanced. The
interest during these five years is to be added in each year to the principal of the loan ; and
the whole amount of each portion of the loan is to be repaid by equal annual instalments
extending over twenty-five years from the date at which, in each case, repayment begins.
(4.) All responsibility for the welfare of the families settled will naturally rest with the
Government of British Columbia; but Her Majesty's Government will from time to time ask
the Government of British Columbia for such information as will enable them to satisfy themselves that the further advances can with advantage be made. Should it at any time appear
to Her Majesty's Government, or to the Government of British Columbia, that the measure of
success attending the colonization scheme has not been adequate, and that it is therefore
desirable to abandon the further carrying out of the scheme, any unexpended balance in the
hands of the Government of British Columbia will then be repaid, with the interest accrued
up to the date of repayment.
Mention was made of the question whether the Scotch Office could bear any of the expense
cf the agency employed in selecting families. The Chancellor of the Exchequer said that this
point should have his consideration, but that he could not give any pledge on the subject. The
sum suggested was £500 per annum.
Yours faithfully,
(Signed)        H. Babington Smith.
Copy of Memo, by Mr. Goschen :—
" I will sanction £500 a year until the first £50,000 have been expended, but not to
exceed three years, without re-consideration."
(Signed)        G. J. G. 55 Vtct.
Development of Deep Sea Fisheries.
STATEMENT  A.-—Showing distribution of loan, investments, &c.
$ 36,375
On hand.
Outfits, &e.
balance next
Invested at
4 per cent.
$ 8,972.50
Memo.—The above accumulated interest, viz.: $42,487.22, is not included in the following Statement B.
It is available for contingencies, &c, or may be invested. 690 Development of Deep Sea Fisheries. 1892
STATEMENT   B.—Showing repayments, &e.
January 1, 1895—Repayments by 50 families @ $50 per family  $2,500 00
Interest to 31st December, 1895, on $2,500 @ 4 %  100 00
1, 1896—Repayments by 250 families  12,500 00
Interest to 31st December, 1896, on $2,600 + $12,500 = $15,100  604 00
1, 1897—Repayments by 450 families  22,500 00
38,204 00
1, 1897—First payment to Imperial Government, J of $48,433.05 $16,144 35
Balance, 31st December, 1897   22,059 65
 $38,204 00
January 1, 1898—Balance, 31st December, 1897, $22,059.65, with one years interest, $882.39.. . $22,942 04
,,      Repayments from 600 families     30,000 00
52,942 04
,, ,,      Second payment to Imperial Government, one-third  $16,144 35
Balance 31st December, 1898 .     36,797 69
 $52,942 04
January 1, 1899—Balance, 31st December, 1898, $36,797.69, with one year's interest, $1,471.89.  $38,269 58
,, ,,      Repayments from 850 families      42,500 00
80,769 58
,,      Third payment to Imperial Government, § of $48,433.05 $32,288 70
Balance- 31st December, 1899   48,480 88
  $80,769 58
January 1,  1900—Balance, 31st December, 1S99, $48,480.88, with one year's interest, $1,939.23.  $50,420 11
Repayments of 1,000 families     50,000 00
100,420 11
,, „      Fourth payment to Imperial Government, two thirds $32,288 70
Balance, 31st December, 1900          68,131 41
1,420 11
January 1, 1901—Balance, 31st December, 1900, $68,131.41, with one year's interest, $2,725.25.  $70,856 66
,,      Repayments from 1,000 families      50,000 00
120,856 66
,, ,,      Fifth payment to Imperial Government, three-thirds $48,433 05
Balance, 31 st December, 1901    72,423 61
 $120,856 66
January 1, 1902—Balance, 31st December, 1901, $72,423.61, with one year s interest, $2,896.94.  $75,320 55
„ „      Repayments from 1,000 families     50,000 00
125,320 55
„ ,,     Sixth payment to Imperial Government $48,433 05
Balance, 31st December, 1902    76,887 50
 $125,320 55
Printed by Richard Wolfenden, Printer to the Queen's Most Excellent Majest}.


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