SINKING FUNDS. REPORT AND ACCOUNTS OF THE COMMISSIONERS OF THE PUBLIC DEBTS SINKING FUNDS, FOR THE YEAR ENDED 30TH JUNE, 1874.

Appendix to the Journals of the House of Representatives, 1874 Session I, B-05

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1874. NEW ZEALAND.

SINKING FUNDS.

REPORT AND ACCOUNTS OF THE COMMISSIONERS OF THE PUBLIC DEBTS SINKING FUNDS, FOR THE YEAR ENDED 30th JUNE, 1874.

Laid before both Houses of the General Assembly in compliance with the Sixth Section of " The Public Debts Sinking Funds Act, 1868."

The Hon. J. Vogel to the Hon. the Speakeb, House of Eepresentatives. Sic, — Government Buildings, "Wellington, 24th July, 1874. In compliance with the 6th section of " The Public Debts Sinking Funds Act, 1868," I have the honor to transmit to you, to lay before Parliament, the report of the Commissioners of the Public Debts Sinking Funds, and accompanying accounts, for the year ended 30th June, 1874. I have, &c, Julius Vogel, Chairman of the Commissioners of the Public Debts Sinking Funds. The Hon. the Speaker of the House of Eepresentatives.

Eepoet of the Commissionees of the Public Debts Sinking Funds, for the Tear ended 30th June, 1874. Wellington, 24th July, 1874. In compliance with the 6th section of "The Public Debts Sinking Funds Act, 1868," the Commissioners of the Public Debts Sinking Funds have the honor to lay before Parliament their report and accounts for the year ended 30th June, 1874. The only subject that calls for remark is the present position of the sinking funds of the Canterbury loans. Last year the Commissioners reported that the trustee of these funds in England had declined to hand them over to the Commissioners, except under an order of the Court of Chancery ; and that they were advised that the most inexpensive mode of obtaining that order was to consent to an application to be made to the Court by the trustee. All the necessary steps have accordingly been taken by the Commissioners, and they now await the result of the application in England. Julius Vogel, Chairman.

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DR. ACCOUNT OF THE RECEIPTS AND DISBURSEMENTS OF THE DURING THE YEAR ENDED

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RECEIPTS. £ s. d. £ s. d. £ s. d. "New Zealand Loan Act, 1860." SiNKiNa Fund:— On £93,100, half-year to 30 June, 1873 ... „ „ to 31 Dec., „ 931 0 0 931 0 0 Intebest on Investments : — Treasury Bills, at 4d. per cent, per diem, — On £3,100, half-year to 30 June, 1873 „ „ to 31 Dec, „ £8,350 „ to 30 Sept., „ „ „ to 31 March, 1874 Defence Loan Debentures, at 5£ per cent., — On £16,200, half-year to 30 June, 1873 ,, „ to 31 Dec, „ £535, 21 Jan. to 30 June, „ £50, 15 Mar. to 30 „ „ £925, 30 Jan. to 30 „ „ £1,764, half-year to 31 Dec, „ £636, 24 July to 31 „ „ Canterbury Rivers Act Debentures, — On £300, half-year to 13 May, 1873 „ „ to 13 Nov., „ ... „ „ to 13 May, 1874 1,862 0 0 93 10 4 95 1 4 254 13 6 253 5 8 445 10 0 445 10 0 12 18 0 0 16 1 21 0 10 48 10 2 15 6 8 10 10 0 10 10 0 10 10 0 1,717 12 7 3,579 12 7 "Auckland Loan Act, 1863." Sinking Fund:— On £31,600, one year to 1 July, 1873 ... 632 0 0 Intebest on Investments : — Defence Loan Debentures, at 5£ per cent., — On £2,140, half-year to 30 June, 1873 „ „ to 31 Dec, „ £45, 21 Jan. to 30 Juno, „ ... £10, 15 Mar. to 30 „ „ £63, half-year to 31 Dec, „ £297, 24 July to 31 „ „ 58 17 0 58 17 0 118 0 3 4 1 14 8 7 3 2 127 16 10 "Wellington Loan Act, 1862." Sinking Fund : — On £2,000, at 4 per cent. — Half-year to 1 July, 1873 ... „ to 1 Jan., 1874 ... 759 16 10 40 0 0 40 0 0 80 0 0 Intebest on Investments : — Treasury Bills, at 4d. per cent, per diem, — On £100, half-year to 30 June, 1873 „ „ to 31 Dec, „ ... Defence Loan Debentures, at 5i per cent., — On £1,420, half-year to 30 June, 1873 „ „ to 31 Dec, „ £65, 21 Jan. to 30 June, „ £15,30 „ to 30 „ £30, 15 Mar. to 30 „ £112, half-year to 31 Dec, „ £68, 24 July to 31 „ „ • 3 0 4 3 14 39 1 0 39 1 0 1 11 4 0 6 11 0 9 8 3 17 1 12 9 91 5 11 " Wellington Loan Act, 1866." 171 5 11 Sinking Fund : — On £13,500, at 2 per cent.,— One year to 1 Jan., 1874 ... 270 0 0 Intebest on Investments : — Treasury Bills, — On £300, half-year to 30 June, 1873 „ „ to 31 Dec, „ Defence Loan Debentures, at 5£ per cent., — On £1,960, half-year to 30 June, 1873 „ „ to 31 Dec, „ £65, 21 Jan. to 30 June, „ £260, 30 „ to 30 „ „ £20,15 Mar. to 30 „ „ £354, half-year to 31 Dec, „ £186, 24 July to 31 „ 9 10 9 4 0 53 18 0 53 18 0 1 11 4 5 18 4 0 6 5 9 14 8 4 9 8 148 1 5 Carried forward 418 1 6 4,928 16 9

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COMMISSIONERS OF THE PUBLIC DEBTS SINKING FUNDS, CR. 30TH JUNE, 1874.

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DISBURSEMENTS. £ s. d. £ s. d. £ s. d. " New Zealand Loan Act, 1860." Amount contributed towards the purchase of Defence Loan Debentures at par, bearing interest at 5 i per cent. Ditto bearing interest at 4| per cent. 636 0 0 2,940 0 0 3,576 0 0 "Auckland Loan Act, 1863." Amount contributed towards the purchase of Defence Loan Debentures at par, bearing interest at 5£ per cent. Ditto bearing interest at 4J per cent. 297 0 0 460 0 0 757 0 0 "Wellington Loan Act, 1862." Amount contributed towards the purchase of Defence Loan Debentures at par, bearing interest at 5J per cent. ... ... .;. Ditto bearing interest at 4£ per cent. 68 0 0 100 0 0 168 0 0 " Wellington Loan Act, 1866." Amount contributed towards the purchase of Defence Loan Debentures at par, bearing interest at 5i per cent. ... Ditto bearing interest at 4£ per cent-. 186 0 0 230 0 0 416 0 0 Carried forward 4,917 0 0

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DR. ACCOUNT OF THE PUBLIC

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RECEIPTS. £ s. d. £ s. d. £ s. d. Brought forward 4,928 16 9 "Nelson Wateewobks Loan Act, 1864." Sinking Fund : — On £14,200, at 2 per cent.,— One year to 31 Dec, 1873 284 0 0 Intebest on Investments : — Defence Loan Debentures, at 5i per cent., — On £2,180, half-year to 30 June, 1873 „ „ to 31 Dec, „ £75, 21 Jan. to 30 June, „ £372, half-year to 31 Dec, „ Canterbury Rivers Act Debentures, at 7 per cent., — On £300, half-year to 13 May, 1873 „ „ to 13 Nov., „ „ „ to 13 May, 1874 59 19 0 59 19 0 1 16 2 10 4 7 10 10 0 10 10 0 10 10 0 163 8 9 "Otago Loan Oedinance, 1861-62." 447 8 9 Sinking Fund : — On £40,100, at 3 per centOne year to 1 July, 1873 ... 1,203 0 0 Intebest on Investments : — Treasury Bills, at 4d. per cent, per diem, — On £700, half-year to 30 June, 1873 „ „ to 31 Dec, „ Defence Loan Debentures, at 5£ per cent., — On £5,620, half-year to 30 June, 1873 „ „ to 31 Dec, „ £175, 21 Jan. to 30 June, „ £240, 15 Mar. to 30 „ „ £424, half-year to 31 Dec, „ £56, 24 July to 31 „ „ Otago Harbour Loan Debentures, — On £3,250, at 8 per cent.,— Half-year to 1 May, 1873 „ to 1 Nov., „ „ to 1 May, 1874 Dunedin Waterworks Debentures, — On £5,000, at 8 per cent.,— Half-year to 31 July, 1873 „ to 31 Jan., „ 21 2 4 21 9 4 154 11 0 154 11 0 4 4 5 3 17 5 11 13 2 17 0 130 0 0 130 0 0 130 0 0 200 0 0 200 0 0 "Otago Loan Oedinance, 1862." Sinking Fund: — On £116,700, at 1 per cent.,— One year to 1 July, 1873 ... 1,162 15 8 2,365 15 8 1,167 0 0 Intebest on Investments : — Treasury Bills, at 4d. per cent, per diem, — On £100, half-year to 30 June, 1873 „ n to 31 Dec, „ Defence Loan Debentures, at 5J per cent., — On £5,580, half-year to 30 June, 1873 „ ,, to 31 Dec, „ £110, 21 Jan. to 30 June, „ £160, 15 Mar. to 30 „ „ £278, half-year to 31 Dec, „ £90, 24 July to 31 „ City of Dunedin Mortgage No. 19, at 7 per cent., — On £3,300, half-year to 1 July, 1873 „ „ to 1 Jan., 1874 Otago Harbour Loan Debentures, at 8 per cent, — On £3,900, half-year to 1 May, 1873 „ „ to 1 Nov., „ „ „ to 1 May, 1874 3 .0 4 3 14 153 9 0 153 9 0 2 13 0 2 11 7 7 12 11 2 3 5 115 10 0 115 10 0 156 0 0 156 0 0 156 0 0 1,027 0 7 "Otago Habboub Loan Oedinance, 1862." 2,194 0 7 Sinking Fund:— On £44,100, at 3 per cent.,— One year to 1 Nov., 1873 ... 1,323 0 0 Intebest on Investments: — Treasury Bills, at 4d. per cent, per diem, — On £2,700, half-year to 30 June, 1873 „ „ to 31 Dec, „ 81 9 0 82 16 0 Carried forward 164 5 0 1,323 0 0 9,936 1 9

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iEBTS KING F 'NDS— continued. Ce. DISBURSEMENTS. £ s. d. £ s. d. £ 8. d. Brought forward 4,917 0 0 "Nelson Wateewoeks Act, 1864." Amount contributed towards the purchase of Defence Loan Debentures at par, bearing interest at 4J per cent. 440 0 0 440 0 . " Otago Loan Oedinance, 1861-62." Amount contributed towards the purchaso of Defence Loan Debentures at par, bearing interest at 5 £ per cent. Ditto bearing interest at 4£ per cent. 56 0 0 2,310 0 0 2,366 0 0 "Otago Loan Oedinance, 1862." Amount contributed towards the purchase of Defence Loan Debentures at par, bearing interest at 5£ per cent. ... Ditto bearing interest at 4 i per cent. 90 0 0 2,100 0 0 2,190 0 0 • • '[Otago Haeboue Loan Oedinance, 1862." Amount contributed towards the purchase of Defence Loan Debentures at par, bearing interest at 5i per cent. ... Ditto bearing interest at 4J per cent. 106 0 0 2,390 0 0 2,496 0 0 Carried forward 12,409 0 0

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DR. ACCOUNT OF THE PUBLIC

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RECEIPTS. £ s. d. £ s. d. £ s. d. Brought forward 164 5 0 1,323 0 0 9,936 1 9 "Otago Haeboue Loan Oedinance 1862," — continued. Intebest on Investments — continued. Defence Loan Debentures, at 5J per cent., — On £5,800, half-year to 30 June, 1873 „ „ to 31 Dec, „ £210, 21 Jan. to 30 June, „ £80, 15 Mar. to 30 „ „ £294, half-year to 31 Dec, „ £106, 24 July to 31 „ Canterbury Rivers Act Debentures, at 7 per cent., — On £100, half-year to 13 May, 1873 „ „ to 13 Nov., „ to 13 May, 1874 City of Dunedin Mortgage No. 17, at 7 per cent., — On £1,650, half-year to 22 May, 1873 to 22 Nov., „ „ „ to 22 May, 1874 Otago Harbour Loan Debentures, at 8 per cent., — On £2,600, half-year to 1 May, 1873 „ „ to 1 Nov., „ „ „ to 1 May, 1874 Otago Public Buildings Loan Debentures, — On £1,525, half-year to 1 April, 1873 „ „ to 1 Oct., „ „ „ to 1 April, 1874 159 10 0 159 10 0 5 13 1 5 10 8 17 2 11 2 3 10 0 3 10 0 3 10 0 57 15 0 57 15 0 57 15 0 104 0 0 104 0 0 104 0 0 61 0 0 61 0 0 61 0 0 1,178 19 10 "Otago Public Buildings Loan Oedinance, 1862." Sinking Fund : — On £40,075, at 3 per cent., — One year to 1 Oct., 1873 ... 1,202 5 0 2,501 19 10 Intebest on Investments : — Treasury Bills, — On £3,000, half-year to 30 June, 1873 „ „ to 31 Dec, „ Defence Loan Debentures,- — On £3,600, half year to 30 June, 1873 „ „ to 31 Dec, „ £220, 21 Jan. to 30 June, „ £110,15 Mar. to 30 „ „ £339, half-year to 31 Dec, „ £61, 24 July to 31 „ „ Canterbury Rivers Act Debentures, at 7 per cent., — On £1,300, half-year to 1 May, 1873 „ „ to 1 Nov., „ „ to 1 May, 1874 City of Dunedin Mortgage No. 17, at 7 per cent., — On £1,650, half-year to 22 May, 1873 to 22 Nov., „ „ to 22 May, 1874 Otago Harbour Loan Debentures, at 8 per cent., — On £1,550, half-year to 1 May, 1873 „ „ to 1 Nov., „ to 1 May, 1874 90 10 0 92 0 0 99 0 0 99 0 0 5 6 1 1 15 5 9 6 8 19 5 45 10 0 45 10 0 45 10 0 57 15 0 57 15 0 57 15 0 62 0 0 62 0 0 62 0 0 894 2 7 2,096 7 7 Total Receipts Balance on 30th June, 1873: — Cash in the Bank of New Zealand 14,534 9 2 4 0 9 £14,538 9 11

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iEBTS SINKING- FUNDS— continued. Ce, DISBURSEMENTS. £ s. d. £ s. d. £ s. d. Brought forward 12,409 0 0 "Otago Public Buildings Loan Oedinance, 1862." Amount contributed towards the purchase of Defence Loan Debentures at par, bearing interest at 5J per cent. ... ... ... _.. Ditto bearing interest at 4\ per cent. 61 0 0 2,030 0 0 2,091 0 0 Total Disbuesements Balance on 30th June, 1874: — Cash in the Bank of New Zealand 14,500 0 0 38 9 11 |£14,538 9 11

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STATEMENT of the SINKING FUNDS in the hands of the Commissioners of the Public Debts Sinking Funds, on 30th June, 1874.

By Authority i Geosge Didsbuet, Government Printer, Wellington.—lB74. Price 6d.]

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Lo. S IN BESPECT OF WHICH THE SlNKISQ FuKDS ABE HELD. Date wheh Redeemable. "New Zealand Loan Act, 1860." ''Auckland Loan Act, 1863." "Wellington Loan Act, 1862." " Wellington Loan Act, 1866." 11 Nelson Waterworks Loan Act, 1864." "Otago loan Ordinance, 1861-62." " Otago Loan Ordinance, 1862." " Otago Harbour Loan Ordinance, 1862." " Otago Public Buildings Loan Ordinance, 1862." Totals. Securities. New Zealand Treasury Bills, at 4d. per cent, per diem Defence Loan Debentures, at 5J per cent. Defence Loan Debentures, at 4| per cent. Canterbury Rivers Act Debentures, at 7 per cent. ... Otago Harbour Loan Debentures, at 8 per cent. Otago Public Buildings Loan Debentures, at 8 per cent. Dunedin Waterworks Debentures, at 8 per cent. ... City of Dunedin Corporation Mortgages, at 7 per cent. 1 Nov., 1874 31 Dec, 1878 £ s. d. 11,450 0 0 18,600 0 0 2,940 0 0 300 0 0 £ s. d. 2,500 "o 0 460 0 0 £ t. d. 100 0 0 1,600 0 0 100 0 0 £ S. d. 300 0 0 2,500 0 0 230 0 0 £ s. d. 2,552 0 0 440 0 0 300 0 0 £ s. d. 700 0 0 6,100 0 0 2,310 0 0 £ s. d. 100 0 0 5,948 0 0 2,100 0 0 £ s. d. 2,700 0 0 6,200 0 0 2,390 0 0 100 0 0 2,600 0 0 £ s. d. 3,000 0 0 4,000 0 0 2,030 0 0 1,300 0 0 1,550 0 0 £ s. d. 18,350 0 0 50,000 0 0 13,000 0 0 2,000 0 C 11,300 0 0 13 May, 1877 1 Nov., 1874 3,250 0 0 3,900 0 0 1 Oct., 1875 Jan., 1877 22 Nov., 1874 1 July, 1878 ... ... ... ... ... ... 5,006" o o 3,3o6" 0 0 1,525 0 0 1,650 0 0 1,650 0 0 1,525 0 0 5,000 0 C 3,300 0 0 3,300 0 0 » )j j> ... ... ... ... ... 33,290 0 o] 4 8 6 2,960 0 0 3 4 9 1,800 0 0 4 3 8 3,030 0 0 2 0 5 3,292 0 0 7 9 9 17,360 0 0 0 9 7 15,348 0 0 4 17 7 17,165 0 0 6 7 8 13,530 0 0 5 8 0 107,775 0 ( 38 9 i: Cash in the Bank of New Zealand Totals 15,352 17 7 17,171 7 8 13,535 8 0 107,813 9 i: 33,294 8 6 2,963 4 9 1,804 3 8 1 3,032 0 5 3,299 9 9 17,360 9 7 STATEMENT showing the Debentures of each Loan in CiEcriiATioN, and the Sinking Funds accrued, on 30th June, 1874. Loan. Debentures in Circulation. When Redeemable. Bate of Sinking Fund. Sinking Funds Accrued. " New Zealand Loan Act, I860 " " Auckland Loan Act, 1863 " ... "Wellington Loan Act, 1862" ... "Wellington Loan Act, 1866" ... £ s. d. 93,100 0 0 31,600 0 O 2,000 0 0 13,500 0 0 1 July, 1891 1 June, 1896 1 July, 1877 1 July, 1886 f 1 January, 1876, £8,000 } i 1 January, 1881 £6,200 J ( 1 July, 1874 £34,100 \ { 31 December, 1875 £6,000 j 1 July, 1898 1 November, 1874 1 October, 1875 2 per cent. ... 4 „ 2 £ s. d. 33,294 8 6 2,963 4 9 1,804 3 8 3,032 0 5 "Nelson Waterworks Loan Act, 1864" ... 14,200 0 0 2 3,299 9 9 " Otago Loan Ordinance, 1861-62 " 40,100 0 0 3 17,360 9 7 " Otago Loan Ordinance, 1862 " " Otago Harbour Loan Ordinance, 1862 " "Otngo Public Buildings Loan Ordinance, 1862" ... 116,700 0 0 44,100 0 0 40,075 0 0 1 „ 3 3 15,352 17 7 17,171 7 8 13,535 8 0 Totals ... £107,813 9 11 £395,375 0 0 Statement of the Expenses incurred Salary of the Secretary and Accountant, 1st July, 1873, t< during the Tear ended 30th June, 1874. 30th June, 1874 ... ... £50 Secretary James C. Gavin, t and Accountant to the Commissioners.