SINKING FUNDS ACCRUED IN RESPECT OF LOANS (RETURNS SHOWING THE, TO 31st MARCH, 1882).

Appendix to the Journals of the House of Representatives, 1882 Session I, B-12

8.—12.

1882. NEW ZEALAND.

SINKING FUNDS ACCRUED IN RESPECT OF LOANS (RETURNS SHOWING THE, TO 31st MARCH, 1882).

Laid on the Table by the Hon. Major Atkinson, icith the Leave of the House.

8.—12.

2

RETURN showing the Sinking Funds accrued to 31st March, 1882, in respect of (1) Loans repayable at Fixed Periods, and of (2) Loans repayable by Annual Drawings. (1.) Loans Repayable at Fixed Periods.

(2.) Loans Repayable by Annual Drawings. " Consolidated Loan Act, 1867" ... ... ... ... ... ... ... £4,583,100 "Defence and other Purposes Loan Act, 1870" ... ... ... ... ... 600,000 " Immigration and Public Works Loan Act, 1870" ... ... ... ... ... 2,100,000 £7,283,100 The total amount of debentures drawn and taken up by the Trustees of the sinking funds of these loans, exclusive of the amount of the last drawing, which took place since the 31st March, is £1,102,900; while the cash accrued awaiting that drawing was £96,650 7s. sd. : making a total of £1,199,550 7s. sd. The annual charge on the colony in respect of these three loans is 5 per cent, for interest and 1 per cent, for sinking fund ; and this annual charge, amounting to £436,986, continues payable in respect of the total sum of £7,283,100, notwithstanding the redemption of a portion of the loans, until by annual drawings the whole debt is extinguished— probably in somewhat less than thirty-six years from the date of its incurrence. In other words the revenue is charged annually with £436,986, out of which 5 percent. for interest on the outstanding debentures is paid to the public ; the balance, which of course increases annually, is then, by a scheme of annual drawings, applied to the taking-up at par of debentures, which for security are cancelled and Eent out to the colony.

By Authority : George Didsbuby, Government Printer, Wellington.—lBB2.

tc Sinking Funds acorued. LOAN. Amount in respect of which Sinking Fund is payable. When Loan repayable. _ . _ _, _ Invested in New Zealand Government Bonds Ijeariner Interest at °£ In Total. Is „ e ., . 3-|d. per cent. 6 p. cent. 5 per cent. 4^ per cent. 4 p. cent. pe r Diem Securities. " New Zealand Loan Act, 1856 " ... 1 £ 375,000") 25,000 ( 50,000 C 50,000 ) £ 500,000 ) Januarv, 1888 "\ October, 1888 ( October, 1889 C June, 1894 ) 1 July, 1891 15 July, 1914 1 November, 1915... 15 March, 1891 ... 15 June, 1891 15 December, 1891 1 November, 1902... 15 April, 1894 33 Tears from issue 1 July, 1886 30 years from issue 50 years from issue 1 July, 1898 £ 2 £ 287,000 £ 117,900 £ £ £ £ s. d. 11,426 4 9 £ s. d, 416,326 4 9 " New Zealand Loan Act, 1860 " " New Zealand Loan Act, 1863 " ... -{ "N. Otago District Pub. Works Loan Act, 1872", " Westland Loan Act, 1873 " "Auckland Loan Act, 1863" " Wellington Loan Act, 1866 " "Lyttelton and Ch'ch Eailway Loan Ord., 1860 " "Canterbury Loan Ordinance, 1862" ... " Otago Loan Ordinance, 1862 " 488,000") 500,000 201,500 - 236,000 93,900 93,100 f 1,519,400 -{ I 2,200 50,000 31,600 13,500 77,700 22,800 116,700 2 1") 2 y 2,700 2 2J (a) (b) 2 2 2 1 1 30,700 94,000 14,800 22,300 1,000 9,970 351,800 870 2,160 1,770 21,660 1,050 13,220 8,570 40 1,190 870 6,210 370 7,250 2,836 5 11 18,945 19 5 356 18 10 122 11 4 1,178 12 5 631 10 3 3,738 12 5 358 19 O 2,171 15 7 67,876 5 11 489,745 19 5 356 18 10 1,032 11 4 10,658 12 5 7,201 10 3 35,808 12 5 2.54S 19 0 35,311 15 7 4,870 3,150 3.300 300 7,680 1,260 780 900 470 4,990 Totals 2,427,000 ... 2,700 431,000 163,400 1,000 402,500 24,500 41,767 9 11 1,066,867 9 i: (a.) The loan was originally £70,000. It has been paid off out of the revenues derived fn will also be shortly paid off. (J.) There is no sinking fund charged on the Consolidated Fund at present. The moneys the loan. >m lands in the appearing in tl North Otago District specially set apart for e above statement as sinking fund are deri' the purposi red from la e, with the exception of £2,200, whiel mds specially set apart as security foi