SINKING FUNDS.

Appendix to the Journals of the House of Representatives, 1880 Session I, B-18

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18S0. NEW ZEALAND.

SINKING FUNDS.

REPORT AND ACCOUNTS OF THE COMMISSIONERS OF THE PUBLIC DEBTS SINKING- FUNDS FOR THE TEAR ENDED 30th JUNE, 18S0.

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

Sib,— Government Buildings, Wellington, 23rd July, 1880. 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, 1880. I have, &c, James Edwaed FitzGeeald, The Hon. the Speaker of the Chairman of the Commissioners of the House of Representatives. Public Debts Sinking Funds.

REPORT. Government Buildings, Wellington, 23rd July, 1880. 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, 1880. The accounts, which have been duly audited, aft'ord full information regarding the state of the several sinking funds ; and the Commissioners have no remarks to offer thereon, or in respect of their proceedings during the past year. James Edwaed FitzGeeald, Chairman of the Commissioners. I.—B. 18.

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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, 18C0." Sinking Fund:— On £93,100 at 2 per cent., half-year to 31 December, 1879 931 0 0 Interest on Investments :— Defence Loan Debentures, — On £28,700 at 5 per cent., half-year to 31 December, 1879 ... £12,150 at A\ per cent., half-year to 31 December, 1879... Canterbury Rivers Debentures, — On £2,000 at 6 per cent., half-year to 14 July, 1879 £2,000 at 6 per cent., half-year to 9 December, 1879 £300 at 6 per cent., half-year to 13 November, 1879 £1,440 at 6 per cent., half-year to 17 November, 1879 ... Immigration and Public Works Loan Debentures, — On £1,000 at 4 percent., one year to 15 April, 1880 £2,200 at A\ per cent., one year to 15 April, 1880 Treasury Bills,— On £1,300 at 3fd. per cent, per diem, one year to 30 April, 1880 ... £330 at 3fd. per cent, per diem, 8 April, 1879, to 30 April, 1880 ... Deficiency Bills,— On £2,000 at 5 per cent., 21 August, 1879, to 31 March, 1800 ... £1,100 at 5 per cent., 23 January to 31 March, 1880 ... Borough of Hamilton Debentures, —• On £2,000 at 6 per cent., nine months to 31 January, 1880 ... 717 10 0 273 7 6 60 0 0 60 0 0 9 0 0 43 4 0 40 0 0 99 0 0 66 18 2 18 0 1 61 1 11 10 4 11 90 0 0 "Auckland Loan Act, 1863." Interest on Investments : — Defence Loan Debentures, — On £J,87O at 5 per cent., half-year to 31 December, 1879 ... £1,200 at 4£ per cent., half-year to 31 December, 1879 ... Canterbury Rivers Debentures, — On £100 at 6 per cent., half-year to 14 July, 1879 Immigration and Public Works Loan Debentures, — On £40 at 4£ per cent., one year to 15 April, 1880... Treasury Bills, — On £140 at 3|d. per cent, per diem, one year to 30 April, 1880 £60 at 8fd. per cent, per diem, 8 April, 1879, to 30 April, 1880 ... Deficiency Billp,— On £800 at 5 per cent., 21 August, 1879, to 31 March, 1880 Borough of Hamilton Debentures, — On £1,000 at 6 per cent., nine months to 31 January, 1880 ... 1,548 6 7 2,479 6 7 121 15 0 27 0 0 3 0 0 1 16 0 233 9 4 7 4 1 3 5 6 24 8 9 45 0 0 "Wellington Loan Act, 1866." Sinking Fund :— On £13,500 at 2 per cent., half-year to 31 December, 1879 135 0 0 Interest on Investments : — Defence Loan Debenture?, — On £3,150 at 5 per cent., half-year to 31 December, 1879 ... £600 at 4i per cent., half-year to 31 December, 1879 ... Canterbury Rivers Debentures, — On £200 at 6 per cent., luilf-year to 14 July, 1S79 £70 at 6 per cent., half-year to 17 November, 1879 £500 at 6 per cent., half-year to 9 December, 1879 Treasury Bills,— On"£250 at 3|d. per cent, per diem, one year to 30 April, 1880 £600 at 8fd. per cent, per diem, 8 April, 1879, to 30 April, 1880 ... Deficiency Bill, — On £200 at 5 per cent., 21 August, 1879, to 31 March, 1880 78 15 0 15 10 6 6 0 0 2 2 0 15 0 0 12 17 4 32 14 8 6 2 2 169 1 8 Nbison Wateewokks Loan Act, 1864. Sinking Fund i — On £6,200 at 2 per cent., half-year to 31 December, 1879 304 1 8 62 0 0 Inteeest on Investments : —■ Defence Loan Debentures, — On £3,600 at 5 per cent., half-year to 31 December, 1879 ... £510 at 4£ per cent., half-year to 31 December, 1879 Canterbury Rivers Debentures, — On £100 at 6 per cent., half-year to 14 July, 1879 90 0 0 12 3 0 3 0 0 Carried forward 105 3 0 62 0 0 3,016 17 7

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COMMISSIONERS of the PUBLIC DEBTS SINKING FUNDS. Cr. 30th June, 1880.

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DISBURSEMENTS. £ s. a. £ ■. a. £ s. a. "New Zealand Loan Act, I860." Amount invested in New Zealand Deficiency Bill bearing interest at 5 per cent, per annum ... ... Amount invested in New Zealand Deficiency Bill bearing interest at 5 per cent, per annum Amount invested in New Zealand Treasury Bill bearing interest at 3|a. per cent, per diem Amount invested in New Zealand Treasury Bill bearing interest at 3jjd. per cent, per diem Amount invested in 6 per cent. Debentures of tlie Borough of Hamilton, County of Waikato 2,000 0 0 1,100 0 0 200 0 0 500 0 0 830 0 0 Interest paid on £500 Treasury Bill to 29th June, 1880, sixty days, at 3fd. per cent, per diem 4,630 0 0 4 4 5 4,634 4 5 "Auckland Loan Act, 1863." Amount invested in New Zealand Deficiency Bill bearing interest at 5 per cent, per annum Amount invested in New Zealand Treasury Bill bearing interest at 3|d. per cent, per diem Amount invested in 6 per cunt. Debentures of the Borough of Hamilton, County of Waikato 800 0 0 100 0 0 90 0 0 990 0 0 " Wellington Loan Act, 1866." Amount invested in New Zealand Deficiency Bill bearing interest at 5 per cent, per annum Amount invested in New Zealand Treasury Bill bearing interest at 3|d. per cent, per diem Amount invested in 6 per cent. Debentures of the Borough of Hamilton, County of Waikato 200 0 0 200 0 0 100 0 0 500 0 0 "Nelson Watebwoeks Loan Act, 1864." Amount invested in New Zealand Deficiency Bill bearing interest at 5 per cent, per annum Amount investea in New Zealand Deficiency Bill bearing interest ot 5 per cent, per annum Amount invested in 6 per cent. Debentures of the Borough of Hamilton, County of Waikato ... 200 0 0 130 0 0 100 0 0 430 0 0 - Carried forward ... ,., 6,554 4 5

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De, ACCOUNT of the RECEIPTS and DISBURSEMENTS of the During the Year Ended

RECEIPTS. £ s. d. £ a. d. £ s. d. Brought forward ... 105 3 0 62 O 0 3,016 17 1 " Nelson Wateewoeks Loan Act, 1864," — continued. Inteeest ox Investments — continued. Canterbury Rivers Debentures — continued. On £300 at 6 per cent., half-year to 13 November, 1879 £40 at 6 per cent., half-year to 17 November, 1879 Immigration and Public Works Loan Debentures, — On £20 at 4J per cent., one year to 15 April, 1880 Treasury Bills, — On £230 at 3fd. per cent, per diem, one year to 30 April, 1880... £470 at 3|d. per cent, per diem, 8 April, 1879, to 30 April, 1880 ... Deficiency Bills, — On £200 at 5 per cent., 21 August, 1879, to 31 March, 1880 ... £130 at 5 per cent., 23 January to 31 March, 1880 9 0 0 14 0 0 18 0 11 16 9 25 12 10 6 2 2 14 3 161 1 0 " Canteebttey Loan Oedinance, 1856." Inteeest on Investments : — Canterbury Rivers Debentures, — On £40 at (5 per cent., half-year to 17 November, 1879 Treasury Bills, — On £1,200 at 3Jd. per cent, per diem, one year to 30 April, 18S0 ... £60 at 8id. per cent, per diem, 8 April, 1879, to 30 April, 38SO ... Deficiency Bills, — On £70 at 5 per cent., 23 January to 31 March, 1880 14 0 61 15 3 223 1 0 3 5 6 0 13 0 66 17 9 "Ltttelton and CinusToniTEon Railway Loan Act, 1860." Sinking Fund : — On £/7,7OO at 2 per cent., one year to 31 December, 1879 1,664 0 0 Interest on Investments : — Defence Loan Debentures, — On £-',900 at 5 per cent., hnlf-year to 31 December, 1879 ... £ 100 at 4-1 per cent., half-year to 31 December, 1879 Canterbury Rivers Debentures, — On £800 at 6 per cent., half-year to 14 July, 1879 £1,400 at (> per cent., half-year to 13 November, 1879 ... £1,270 at 6 per cent., half-year to 17 November, 1879 ... Immigration and Public Works Loan Debentures, — On £800 at 4i per cent., one year to 15 April, 1880 Treasury Bills, — On £16,100 at 3|d. per cent, per diem, one year to 30 April, 1880 ... . £930 at 3gd. per cent, per diem, 8 April, 1879, to 30 April, 1880 ... Deficiency Bills, — On £1,300 at 5 per cent., 21 August, 1879, to 31 March, 1880 Borough of Hamilton Debentures, — On £2,000 at 6 per cent., nine months to 31 January, 1880 ... 72 10 O 2 5 0 24 O 0 42 0 0 38 2 0 36 0 0 828 12 11 50 14 11 39 14 3 90 0 0 "Canteebuey Loan Oedinance, 1862." Sinking Fund -.— On £22,800 at 1 per cent., one year to 31 December, 1879 1,223 19 1 2,777 19 1 228 0 0 Inteeest on Investments :— Defence Loan Debentures, — On £300 at 5 per cent., half-year to 31 December, 1879 £370 at 4i per cent., half-year to 31 December, 1879 ... Canterbury Rivers Debentures, — On £100 at 6 per cent., half-year to 14 July, 1879 £140 at 6 per cent., half-year (o 17 November, 1879 Immigration and Public Works Loan Debentures, — On £100 at 4} per cent., one year to 15 April, 1880 Treasury Bills, — On £230 at 3jjd. per cent, per diem, one year to 30 April, 1880 ... £330 at 3|d. per cent, per diem, 8 April, 1879, to 30 April, 1880 Deficiency Bills, — On £100 at 5 per cent., 21 August, 1879, to 31 March, 1880... 7 10 0 8 6 6 3 0 0 4 4 0 4 10 0 11 16 9 18 0 1 3 11 60 8 5 288 8 5 Carried forward ... 6,373 3 10 j

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COMMISSIONERS of the PUBLIC DEBTS SINKING FUNDS, Cr. 30th June, 1880.

DISBURSEMENTS. £ s. d. £ s. d. £ s. d. Brought forward 6,554 4 5 " Canterbury Loan Ordinance, 1856." Amount invested in New Zealand Deficiency JBill bearing interest at 5 per cent, per annum 70 0 0 70 0 0 "Lyttelton and Chrtstchttech Railway Loan Act, 1860." Amount invested in New Zealand Deficiency Bill bearing interest at 5 par cent, per annum Amount invested in New Zealand Treasury Bill bearing interest at 8|d. por cent, per diem Amount invested in New Zealand Treasury Bill bearing interest at SJd. per cent, per diem Amount invested in New Zealand Treasury Bill bearing interest at 3fd. per cent, per diem Amount invested in 6 per cent. Debentures of the Borough of Hamilton, County of Waikato 1,300 0 0 800 0 0 100 0 0 180 0 0 500 0 0 2,880 0 0 Interest paid on £180 Treasury Bill to 29 June, 1880, eixty days at 3fd. per cent, per diem 1 10 4 2,881 10 4 " Canterbury Loan Ordinance, 1862." Amount invested in New Zealand Deficiency Bill bearing interest at 5 per cent, per annum Amount invested in New Zealand Treasury Bill bearing interest at 3Jd. per cent, per diem ... --..-: ■-- ;:. Amount invested in 6 per cent. Debentures of the Borough of Hamilton, County of Waikato 100 0 0 100 0 0 90 0 0 290 0 0 Carried ovward 9,795 14 9

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Dr. ACCOUNT of the RECEIPTS and EXPENDITURE of the During the Tear ended

Government Buildings, Wellington, 12th July, 1880.

RECEIPTS. £ a. d. I £ s. d. £ s. d. Brought forward ... 6,373 3 10 " Otaoo Loan Ordinance, 1862." Sinking Fund :— On £116,700 at 1 per cent., one year to 1 July, 1879 ... 3,167 0 0 Interest on Investments :— Defence Loan Debenture?, — On £6,480 at 5 per cent., half-year to 31 December, 1879 ... £-4,950 at 4J per cent., half-year to 31 December, 1879 ... Canterbury Rivers Debentures, — On £200 at 6 per cent., half-year to 14 July, 1879... £1,500 at 6 per cent., half-year to 17 November, 1879 ... £2,000 at 6 per cent., half-year to 9 December, 1879 Immigration and Public Works Loan Debentures, — On £40 at i\ per cent., one year to 15 April, 1880 Treasury Bills, — On £5,650 at 8f d. per cent, per diem, one year to 30 April, 1880 ... £2,890 at 3Jd. per cent, per diem, 8 April, 1879, to 30 April, 1880 Deficiency Bills, — On £1,600 at 5 per cent., 21 August, 1879, to 31 March, 1880 £150 at 5 per cent., 23 January to 31 March, 1880 City of Dunedin Mortgage,— On £3,300 at 7 per cent., one year to 1 January, 1880 162 0 0 111 7 6 6 0 0 45 0 0 60 0 0 1 16 0 290 16 1 157 13 10 48 17 7 4 3 10 231 0 0 1,118 14 10 "Westland Loan Act, 1873." Amount received from Colonial Treasury 124 15 4 2,285 14 10 Interest on Investments :— Treasury BilU, — On'£650 at 8fd. per cent per diem, 8 April, 1879, to 30 April, 1880 ... Deficiency Bills, — On £50 at 5 per cent., 23 January to 31 March, 1880 35 9 3 0 9 4 35 18 7 " North Otaoo DrsmcT Public Works Loan Act, 1872." Amount received from Colonial Treasury 11,622 13 2 160 13 11 Interest on Investments :— Treasury Bills, — On £080 at 3|d. per cent, per diem, 8 April, 1879, to 29 June, 1880 ... Amount of Treasury Bill realized 42 16 9 680 0 0 12,345 9 11 Board op Conservators, Disteict of South Waimakariri. Nil. Balance on 30 June, 1879:— Cash in the Bank of New Zealand, Wellington 21,165 2 6 4,745 15 9 £25,910 18 3

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COMMISSIONERS of the PUBLIC DEBTS SINKING FUNDS, Cr. 30th June, 1880.

JaJIES C. GrAYIN, Secretary and Accountant to the Commissioners. Examined and found correct, James Ed ward FitzG-ebald, Controller and Auditor-General, 16th July, 1880.

DISBURSEMENTS. | £ s. d. £ i. d. £ s. d. Brought forward 9,795 14 9 "Otaoo Loan Ordinance, 1862." Amount invested in New Zealand Deficiency Bill bearing interest at 5 per cent, per annum Amount invested in New Zealand Deficiency Bill bearing interest at 5 per cent, per annum Amount invested in 6 per cent. Debentures of the Borough of Hamilton, County of Waikato 1,600 0 0 450 0 0 250 0 0 2,300 0 0 "Westland Loan Act, 1873." Amount invested in New Zealand Deficiency Bill bearing interest at 5 per cent, per annum Amount invested in 6 per cent. Debentures of the Borough of Hamilton, County of Waikato 50 0 0 40 0 0 90 0 0 "North Otago District Public Works Loan Act, 1872." Amount paid to Post Office Account in redemption of Debentures ... Amount paid to Post Office Account in redemption of Debentures 7,700 0 0 3,200 0 0 Amount paid to Public Account, being interest at 5 per cent, per annum on £30,200 for half-year to 1 "November, 1879 ... Amount paid to Public Account, being interest at 5 per cent, per annum— On £700, 1 May to 22 August, 1879 On £30,200, 1 November to 21 December, 1879 ... On £23,200, 2-1 December, 1879, to 1 May, 1880 ... 10,900 O 0 755 0 0 10 16 8 219 B 2 409 19 5 640 1 3 Board or Conservators, District op South Waiiiakariri. Interest paid for half-year ended 9th December, 1879, on £4,500 Canterbury Rivers Debentures at 6 per cent, per annum 12,295 1 3 135 0 0 Balance on 30 June, 1880:— Cash in the Bank of New Zealand, Wellington 24,615 16 0 1,295 2 3 325,910 18 3

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Government Buildings, Wellington, James C. G-atin, 12th July, 1880. Secretary and Accountant to the Commissioners.

STATEMENT of the Funds held by the Commisssoners of the Public Debts Sinking Funds on 30th June, 1880.

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<D Loans is besfect or which Sinking Fuitds abb help. Ihtestmbhts. When Securities are Redeemable. to " New Zealand Loan Act, 1860." '• Auckland " Wellington felson Loan Act, Loan A^t, lobo. loob. 1SR4" "Lyttelton and Christchurcb Railway Loan Act, I860.". "Canterbury "Canterbury "Otago Loan Loan Loan Ordinance, Ordinance, Ordinance, 1856." 1862." 1862." " Westland Loan Act, 1873." "North Otajr" District Public Worts Loan Act, 1S72," Totals. Defence Loan Debentures 31 Dec, 1885 5 £ s. d. 28,700 0 0 £ s. d. 4,870 0 0 £ s. a. 3,150 0 0 £ s. d. 3,600 0 0 £ s. a. 2,900 0 0 £ s. d. £ s. d. 300 0 0 £ b. d. 6,480 0 0 5 £ 6. d. £ s. A. 50,000 0 0 » it •" 1 July, 1880 41 12,150 0 0 1,200 0 0 690 0 0 540 0 0 100 0 0 370 0 0 4,950 0 0 I 20,000 0 0 Immigration and Public Works Loan Debentures ... 15 April, 1913 1,000 0 0 1,000 0 0 4 Ditto 15 April, 1882 4i 40 0 0 20 0 0 800 0 0 100 0 0 40 0 0 1,000 0 0 Ditto 15 April, 1882 41 2,200 0 0 I 2,200 0 0 Treasury Bills (1 Not., 1880 \ £1,200 JlNov.,1881 C £23,900 \%i\ ; 1,300 0 0 140 0 0 250 0 0 1 230 0 0 16,100 0 0 1,200 0 0 230 0 0 5,650 0 0 I 25,100 0 0 i» »» ••« ••■ 1 Nov., 1882 3J 830 0 0 60 0 0 600 0 0 470 0 0 1,110 0 0 60 0 0 330 0 0 2,890 0 0 650 0 0 ... 7,000 0 0 a >» ••■ lDec, 1882 3i ... 100 0 0 200 0 0 800 0 0 100" 0 0 ■ •• 1,200 0 0 ii i> ••• 1 Dec, 1882. 33 200 0 0: 100 0 0 ... 300 0 0 Deficiency Bills 30 Sept., 1880 5 2,000 0 0 800 0 0 200 0 0: 200 0 0 1,300 o o: 100 0 0 1,600 0 0 ... I 6,200 0 0 i, ... ... 30 Sept., 1880 5 1,100 0 0. 130 0 0 70 0 0 450 0 0 50 o o; 1,800 0 0 Canterbury Hirers Act Debentures 13 May, 1927 6 300 0 Oi 300 0 0 1,400 0 0 ... I 2,000 0 0 It It H ■•■ 17 Not., 1897 6 1,440 0 0 70 0 0] 40 0 0 1,270 0 0 1 40 0 0 140 0 0 1,500 0 0 4,500 0 0 II II I) ••• 9 Dec, 1884 • 2,000 0 0 500 0 0! I 2,000 0 0| 4,500 0 O » » II 14 Jan., 1898 • 2,000 0 0 100 0 0] 200 0 0 [ 100 0 0 800 0 0! [ 100 0 Oj 200 0 0 3,500 0 0 City of Dunedin Mortgage 13 May, 1877 7 3,300 0 0 ... 3,300 0 0 Borough of Hamilton Debentures 31 Jan., 1891 6 2,000 0 0 1,000 0 0 2,000 0 0 5,000 0 0 31 Jan., 1891 6 830 0 0 90 0 0 100 0 0. 100 0 0 500 0 0 ... I 90 0 0 250 0 0 40 0 ft 2,000 0 0 Cash in Bant, 30th June, 1880... 58,050 0 0 2 6 5 I 8,400 0 0; 46 15 II 1 ' 5,960 0 056 17 2 ■ 5,730 0 0 38 11 3 29,180 0 0 474 14 .1 1,370 0 0 34 0 1 1,860 0 0 27 14 3 29,310 0 0 468 7 4 740 0 0 97 0 8 140.600 0 0 1,295 2 3 48 15 1 Totals ... 58,052 6 5 8,446 15 II 1 6,016 17 2; ! 5,768 11 3 29,654 14 1 1,404 0 1 1,887 14 3 29,778 1 4 837 0 8 48 15 1 141,895 2 3

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STATEMENT showing the Debentures of each Loan in Circulation, and the Sinking Funds Accrued, on 30th June, 1880.

* The debentures of the Canterbury Loan of 1856 matured in March, 1873. The Commissioners have been unable to ascertain the precise amount unredeemed by the late provincial authorities, but it ia within £1,200. t The amounts borrowed are secured on lands specially set apart.

Statement of the Expenses incurred during the Tear ended 80th June, 1880. Salary of the Secretary and Accountant ... ... ... £50. Government Buildings, Wellington, James C. G-avin, 12th July, 1880. Secretary and Accountant to the Commissioners.

By Authority: G-EOKGE Didsbuey, Government Printer, Wellington. —1880. Price 9d.] 2-B. 18.

Loan. Debentures in Circulation. Rate of Sinking Fund. When Redeemable. Sinking Fund Accrued. " New Zealand Loan Act, 1860 " " Auckland Loan Aet ; 1863" " Wellington Loan A'ct, 1866 " "Nelson Waterworks Loan Act, 1864" " Lyttelton and Christehurch Railway Loan Act, 1860" "Canterbury Loan Ordinance, 1856" " Canterbury Loan Ordinance, 1862 " " Otago Loan Ordinance, 1862" " Westland Loan Act, 1873 " "Nortli Otago District Public Works Loan Act, 1872" £ 93,100 31,600 13,500 6,200 Per cent. 2 2 2 2 1 July, 1891 1 June, 1896 1 July, 1886 1 January, 1881... £ s. d. 58,052 6 5 8,446 15 11 6,016 17 2 5,768 11 3 77,700 * 2 1894 and 1897 ... 29,654 14 1 1,404 0 1 1,887 14 3 29,778 7 4 837 0 8 22,800 116,700 50,000 1 1 t 50 years from date of issue 1 July, 1898 15 April, 1894 ... 20,000 10 Not later than 1 Nov., 1902 48 15 1 £431,600 141,895 2 3