L— 7.

TABLE No. 3. Table showing the Accretions of Sinking Fund in each Year from the 31st March, 1884, to the 31st March, 1892, together with the Amount of Debentures issued in each Year under Section 6 of "The Consolidated Stock Act, 1884," and the Amount of such Debentures redeemed out of Sinking Funds set free by the Operation of the Act.

Total amount of debentures issued during the eight years ended the 31st £ March, 1892.. .. .. .. .. .. .. 2,117,784 Debentures actually redeemed as above .. .. .. .. £1,103,071 Redeemed early in 1892-93 out of sinking funds set free before the 31st March, 1892 .. .. .. .. .. .. .. 158,300 . 1,261,371 Remaining outstanding .. .. .. .. £856,413

TABLE No. 4. Sources whence were derived the Accretions of Sinking Fund, amounting to £2,134,200, during the Eight Years ended the 31st March, 1892 (approximate).

* This item requires explanation : it can hardly be called the produce of investment in New Zealand securities, for the reason that the bonds upon which the amount is computed are cancelled and cannot be sold. The scheme of the loan, which originally amounted to £7,283,100, is this : There is an annual charge of G per cent, per annum, out of which is first paid 5 per cent, to the bondholder; what is left constitutes the drawing fund for the year; or, put in another way, the drawing fund is composed of the fixed annual charge of 1 per cent, on the original amount of the loan added to 5 per cent, on the total amount of drawn bonds for the time being, which, of course, increases yearly, until all the bonds are drawn and the debt extinguished. The drawn bonds now amount to £2,939,800.

TABLE No. 5. Statement showing the Interest paid in each Year since "The Consolidated Stock Act, 1884," came into Operation in respect of Debentures issued under the Provisions thereof to an Amount equal to the "Increases" of the Sinking Funds, during the Period from the 31st March, 1884, to the 31st March, 1892.

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Financial Year. Accretions of Sinking Fund. Debentures issued. Debentures redeemed. .884-1885 .885-1886 .886-1887 .887-1888 .889-1889 .889-1890 .890-1891 .891-1892 £ s. a. 239,435 3 10 259,581 7 1 243,712 18 6 258,041 3 2 270,618 2 0 277,270 19 0 292,458 8 10 293,081 17 9 £ s. d. 247,700 0 0 252,200 0 0 251,000 0 0 258,184 0 0 263,200 0 0 275,200 0 0 288,000 0 0 282,300 0 0 £ s. d. 179,300 0 0 164,100 0 0 131,600 0 0 133,400 0 0 144,000 0 0 350,671 0 0 Totals .. 2,117,784 0 0 2,134,200 0 2 1,103,071 0 0

Contributions of Sinking Fund from Eevenue. Produce of Investments in New Zealand Government Securities. Produce of Investments in Bonds of other Colonies, &c. Total. lew Zealand Loan of 1856 few Zealand Loan of 1860 few Zealand Loan of 1863 few Zealand Consolidated Loan of 1867 lew Zealand Immigration and Public Works Loan of 1870 .uckland Loan of 1863 Vellington Loan of 1866 jyttelton and Christchurch Railway Loan of 1860 .. lanterbury Loan of 1862 Itago Loan of 1862 £ s. d. 9,101 0 0 126,304 0 0 582,648 0 0 £ s. d. 28,582 13 11 22,570 8 2 202,055 2 7 818,920 0 0* £ s. d. 20,160 0 11 6,654 17 11 612 3 4 11,203 8 0 £ s. d. 48,743 0 10 38,326 6 1 328,971 5 11 1,412,771 8 0 178,000 0 0 5,056 0 0 675 0 0 5,459 15 6 1,042 11 5 42,460 7 4 1,672 0 7 238 0 4 220,460 7 4 12,187 16 1 1,955 17 9 12,370 0 0 1,795 0 0 9,330 0 0 17,302 10 4 1,603 10 5 16,029 6 4 5,882 9 7 286 11 3 6,178 4 3 35,555 5 11 3,685 1 8 31,548 10 7 Totals 925,285 0 0 1,113,566 4 8 2,134,200 0 2 95,348 15 6

.885-86 .886-87 .887-88 .888-89 .889-90 .890-91 .891-92 £. s. a. 10,133 7 0 21,898 10 3 29,976 6 11 35,442 19 4 41,170 19 5 48,135 14 6 54,979 18 10 Total £241,737 16 3