PUBLIC TRUST FUNDS.

Globe, Volume XXII, Issue 2008, 31 July 1880, Page 4

PUBLIC TRUST FUNDS.

[By Telbgbaph.]

[FKOM OUB OWN COEEE3PONDHNT. ]

WELLINGTON, July 30,

Last year the following motion, proposed by Mr Stevens, was carried—“ That the present position of the investment of the public trust funds be taken into consideration by the Public Accounts Committee, with a view to see whether the treatment of those funds hitherto adopted is the beat practicable.’ ’ Today the following report was circulated by the Public Accounts Committee, to which the question had been referred by the House. The report is as follows: —“That in the opinion of the committee no loans should be made out of trust funds upon any other than securities of the New or other Governments, or upon Bank deposit receipts ; that as soon as possible one-third at least of the amount to the credit of the Post Office Savings Bank Account be invested in Government bonde, the interest on which is payable in Ijondon, end that securities be deposited in London to be used in case of any possible financial emergency in the colony.” _ . The following is a return of the securities forming the subject of the enquiry, their nominal value and original cost (shillings and pence are omitted) : POST OFFICE ACCOUNT. Consolidated Loan, 1867, £13,000, cost £12,480. Westland Loan, 1873, £50,000, coat £50,000. Immigration and Public Works Ijoan, 1870, £173,200, cost £166,272. Immigration and Public Works Loan, 1870, £14,900, cost £14,527. Waimakariri District, Canterbury Elvers Bonds, £4400, coat £4400. General Purposes Loan, 1873, £142,600, cost £142,600. General Purposes Loan, 1873, £5200, cost £4342. Defence and other Purposes Loan, 1870, £74,000, cost £72,000. Defence and other Purposes Loan, 1870, £SOOO, cost £SOOO. North Otago District Public Works Loan, 1872, £23,200, cost £23,200. North Sakaia District, Canterbury Rivers, Bonds, £BOOO, cost £BOOO. New Zealand Loan, 1876, £44,000, cost £44 699. Oamarn Harbor Board Mortgages, £30,000, coat £35,000. Patea Mortgages, £5lO, cost £5lO. Treasury Bills Financial Arrangements Act, 1876, £65,500, cost £65,500. Treasury Bills Extended Currency Act, 1876, £45,000, cost £45,000. Patea Harbor Board Debentures, £SOOO, coat £SOOO. Corporation of Oamaru Debentures, £SOOO, cost £SOOO. Bunk of New Zealand Deposit Receipt, £30,000, cost £30,000. Bank of New Zealand Deposit Receipt, £20,000, cost £20,000. Totals, £764,610 10s 2d, coat £754,421.

GOTBENMBNT INBUEANCB ACCOUNT. Treasury Sills, Extended Currency Act, 1873, £IBO,OOO, cost £IBO,OOO. Treasury Bills, Extended Currency Act, 1876, £IOOO, coat £4OOO. Treasury Bills, Financial Arrangements Act, 1876, £59.400, cost £59,400. Treasury Bills Act, 1879, £43,500, cost £48,500 Deficiency Bill, under Public Revenue Act, 1878, £53,000, cost £52,000. Bank of New Zealand deposit receipts £76,000, coat £76,000. Totals, £380,900, cost £380,900. THE PUBLIC TEUBT OFFICE,

Immigration und Public Works Loan, 1870, £4200, cost £4032. Immigration and Public Works Loan, 1870, £9OO, cost £877. General Purposes Loan, 1873, £4OO, cost £340. General Purposes Loan, 1873, £20,900, cost £20,064. General Purposes Loan, 1873, £BOO, cost £696. General Purposes Loan, 1873, £BOO, coat £696. General Purposes Loan, 1873, £6200, cost £6014. New Zealand Loan, 1876, £24,750, coat £24,841. Treasury Bills, extended currency, 1876, £4OOO, cost £4OOO. Deficiency Bills under Public Revenues Act, 1878, £IO,OOO, cost £IO,OOO (also securities held for private estate). Immigration and Public Works Loan, 1870, £2OOO, cost £1920. Immigration and Public Works Loan, 1870, £6OO, coal £385. New Zealand Loan, 1876, £l5O, cost £l5O. Totals, £71,300, cost £73,520.