SATISFACTORY YEAR
HUGE FUNDS CONTROLLED; BY HARBOUR BOARD COMMISSIONERS’ REPORT 'j The aggregate value of the funds controlled by the Auckland Harbour Board sinking fund commissioners on September 30, 1929, was £416,258. The secretary, Mr. C. F. Garratt, in a report of the statement of accounts of the commissioners, states that the assets consist of the following:
The appropriation received from the board amounted to £50,925. The revenue earned was £25,300, notwithstanding low earning power of moneys reserved for redemption purposes, and the fact that payment of supplementary appropriation was deferred. Redemption of debentures for £350,000 was effected at January 10. 192 9. by the operation of sinking fund £127,000 and new’ loans £163,000. Opportunity has been taken, advisedly, to write down to Government valuation an old and unsatisfactory investment to which the commissioners had been committed.
Mortgages Local body debentures ... 671 Interest due and accrued and sundry debtors, etc. . . . 3,306 Cash £416,277 The position of the re is as follow: — spective funds Loans. Sinking- Fund. £ £ 1908 750,000 197,280 1916 150,000 66,100 1919 1,000,000 119,965 1920 60,000 17.342 1924 350,000 15,571 (Issues in respect of which appropriations have been made.) £416,258
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https://paperspast.natlib.govt.nz/newspapers/SUNAK19300224.2.83
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Sun (Auckland), Volume III, Issue 905, 24 February 1930, Page 10
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191SATISFACTORY YEAR Sun (Auckland), Volume III, Issue 905, 24 February 1930, Page 10
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