£5. £10 £50 £100 £200 £300 £500 £1000 £2000

Dividends payable 10th

of October, 1832.

On 3 per cent. reduced.. 10,347 4,745 11,681 3,473 2,175 742 453 231 ,, 3 per cent. reduced 7,019 4,362 10,173 2,909 1,561

,, Annuities for Terms

Regulations relating to the transfer of the government funds at the Bank of England, and South Sea House.

The days of transfer in the different stocks are as under :

BANK OF ENGLAND.

Dividends payable 5th of January, and 5th of July. 3 per cent. Consols.-Tues. Wed. Thurs. and Frid. New 3 per cents.-Ditto

ditto.

New 5 per cents.-Tues. Wed. and Frid.

3 per cent. 1726.-Tues. Thurs.

ditto.

Annuities for Terms of Years.-Mond. Wed. and Frid. Dividends payable 5th of April, and 10th of October.

3 per cent. Reduced.-Tues. Wed. Thurs. and Frid. 3 per cent. 1818,-Tues. Thurs. and Frid.

3 per cent. Reduced.-Tues. Wed. Thurs. and Frid. Long Annuities.-Mond. Wed. and Sat.

Annuities for Terms of Years.-Tues. Thurs. and Sat.

SOUTH SEA HOUSE.

Dividends 5th of January, and 5th of July.

New South Sea Annuities.-Tues. Thurs, and Sat. 3 per cents., 1751.-Tues. and Thurs.

Dividends 5th of April, and 10th of October.

Old Annuities.-Mond. Wed. and Frid.

Tickets for preparing transfers must be deposited in the respective offices before one o'clock, otherwise a fee of 2s. 6d. for each transfer is demanded; on the payment of this fee, transfers may be made on any day in the week, (provided the books are not shut for the dividend) as late as half-past three o'clock. Transfers forwarded in the usual manner (without fee) are made void if not executed by half-past two o'clock. These regulations apply equally to the Bank and South Sea House. Dividends are payable at the Bank between the hours of

nine and three; and at the South Sea House between nine and two; they are paid to the public on the third day after becoming due, but if a Sunday intervene, they are not payable until the fourth day, thus dividends due at each quarter are paid on the undermentioned days :-Due 5th of January,-payable 8th of January.

No addition of stock can be made to any account in which one or more of the parties is deceased. If the account be in a single name, the probate of the will, or letters of administration must be produced at the will office at the Bank, or South Sea House, (as the case may be) and left two clear days for examination. If the account be in joint names, an extract from the register book of burials, supported by a declaration of identity, is sufficient to prove the decease of a party, and the stock is then at the disposal of the survivor or survivors.

There are various other regulations relating to transactions in the funds, which it is not necessary to notice in this place, as they are sufficiently known.

Regulations at the National Debt Office in the Old Jewry. The business of this office consists in granting annuities for terms of years, and on lives; and also in delivering the warrants on the Bank of England for the payment of the annuities as they become due. These annuities are granted according to an Act passed the 22nd of May, 1829, (10 Geo. IV., c. 24,) the principal provisions of which are as follow:

Sec. 1. Immediate or deferred annuities may be granted by the commissioners for the reduction of the national debt, either for terms of years, or on the life of one or two individuals.

2. No nominee can be under fifteen years of age, and the commissioners have the power to refuse any nominee.

3. Not less than £100 stock to be received by the commissioners, nor any sum of money or long annuities of less value than £100 3 per cents. according to the average price. (Vide sec. 30.)

4. Proprietors may appoint nominees, being natives of, or most usually resident in the united kingdom, on the continuance of whose life the annuity shall depend.

5. Relates to the certificates of birth or baptism, and the declarations necessary to be produced.

6. If the date of the birth be not mentioned in the certificate, the age is to be calculated from the day of baptism.

7. Should the party desiring to purchase a life annuity not be a native of the united kingdom, or if the birth or baptism of a party does not appear in the parish register, then a declaration of the age, name, occupation, and usual place of abode, together with the place of birth and the names of the parents, or reputed parents of the nominee must be procured.

9. The average price of stocks to be transmitted daily from the Bank of England to the Comptroller-general, at the National Debt Office.

10. Empowers the Comptroller-general to conclude contracts for annuities, when the documents produced by the purchaser shall appear to be conformable to the provisions of this Act; if contracts are not fulfilled by the purchaser within five days from the date of contract, they are to be void.

11. If money or any other than 3 per cent. stock be tendered, the same shall be converted by computation into 3 per cents., according to the average price of such stocks.

12.

Bank annuities which may hereafter be created, may be transferred for the purchase of terminable annuities, by virtue of this Act.

13. All money paid for annuities to be laid out by the commissioners in the purchase of stock, which is to be cancelled.

C

14. The commissioners for the reduction of the national debt to adopt such tables for granting annuities, as shall from time to time be directed by the lordscommissioners of the Treasury; notice of any alteration in this respect to be given in the London Gazette.

16. Fractional parts of £1 stock are not to be taken, and when the stock tendered shall produce a fraction of 6d. in the annuity, such fraction shall not be inserted.

18-19. Purchases may be made on the life of old nominees, without fresh certificates of age, &c.

21. The annuities after deducting all those which may have expired or remain unclaimed, to be paid out of the consolidated fund.

22. All annuities to be payable by two equal halfyearly payments, to be made on the 5th of January and the 5th of July, or on the 5th of April and the 10th of October; the first half-yearly payment to be made in the quarter next succeeding that in which the purchase was made; and in case of the death of a nominee, a fourth part of the annuity shall be paid to the party entitled on the next half-yearly day of payment, provided such portion be claimed within two years.

23. No contract for an annuity can be entered into within fourteen days after the quarterly day of payment.

24-25. At the time of applying for payment of life annuities, a certificate of the life of the nominee must be produced; if the annuity be for joint lives, dependent on the longest life, a certificate of the life of either shall be sufficient. If the nominee apply personally, no certificate of existence is necessary.

30. Persons already holding annuities, may transfer any sum of 3 per cent. stock, not less than £20, or any stock or money equivalent thereto, in consideration of any further annuity.

32-33. Any immediate, deferred, or reversionary life annuity to be transferable, provided such be transferred entire, and that the original nominee be not changed. Annuities for years to be transferable, whole or in parts.