64

B.—l

STATEMENT of the RECEIPTS and EXPENDITURE of the CONVERSION ACCOUNT

* Against authority to create stock for expenses of conversion.

Inscribed Stock at 3J per cent., — Issued in exchange for debentures .. .. .. £699,896 0 0 Issued under " The Lost Debentures Act, 1886 " .. 2,100 0 0 Issued to pay expenses .. .. £12,892 0 0 Less already brought to account .. 1,894 0 0 10,998 0 0 £ s. d. £ s. d. 712,994 0 0 1,894 0 0 Inscribed Stock at 4 per cent., — Issued in exchange for debentures .. .. ..£4,557,047 0 0 Issued to pay expenses .. .. .. -. 29,000 0 0 4,586,047 0 0 Debentures (Colonial issue) issued under " The ConsoIi3ated Stock Act, 1884," at 4J per cent. 499,000 0 0 5,299,041 0 0 500,894 0 0 Further procee3s of Sale of 3J-per-cent. Inscribe3 Stock Four per cent, on £13,900 receive3 on Conversion of New Zealan3 Consols in March, 1885 Temporary A3vance from Bank of Englan3 In reduction of Conversion Expenses,— Transfer from Public Works Fund : Charges and Expenses of raising Loans—Loss arising from sales of 3J-per-cent. Stock below 94 .. .. .. .. £5,355 17 0 Interest on unsold 3J-per-cent. Stock .. .. .. 166 19 7 Profit on purchase and sale of debentures in 1886-87 .. 64 14 6 Premium on sale of £29,000 4-per-cent. Inscribed Stock, at lOlf 434 19 0 303,569 10 0 2,000 0 0 225,662 16 0 556 0 0 285,000 0 0 6,022 10 1 311,592 0 7 511,218 16 0 Balance at end of Year, — "Cash overdrawn Less in tho hands of Stock Agents— Cash .. .. .. .. .. .. £749 11 11 3£-per-cent. Inscribed Stock .. .. .. 3,839 5 6 8,706 9 5 257,998 7 6 4,588 17 5 1,938 4 9 4,117 12 0 256,065 2 9 Totals £5,614,750 12 7 £1,268,177 18 9