1.—7

112

Balance-sheet, 31st Decbmbee, 1896. Dr. Cr. To Capital— £ s. d. By Capital expenditure, £ s. d. 300,000 shares at as per last account £2,832,334 0 0 £10 each .. £3,000,000 0 0 Add cost of new Less 50,000 of offices at Singa£lo each un- pore .. .. 7,710 8 9 issued .. 500,000 0 0 2,500,000 0 0 2,840,044 8 9 5-per-cent. Australian subsidy deben- Less transferred tures— from Australian 2,095 debentures of 5-per-cent. sub£loo each, as por sidy debenture last account .. £209,500 0 0 sinking fund .. 40,900 0 0 Less 409 deben- 2,799,144 8 9 tures drawn Ist Maintenance - ships, as per last April, 1896, for account .. .. .. 66,449 14 10 payment Ist July, 1896 .. .. 40,900 0 0 2,865,594 3 7 168,600 0 0 Investments on account of reserve 4-per-cent. mortgage debenture stock 320,000 0 0 funds (see Abstract D) .. .. 857,702 10 2 Trustees for 5-per-cent. Australian 2,988,600 0 0 subsidy debentures .. .. 14,738 16 3 Eeserve funds— Spare cable and other stores .. 66,090 8 5 General Beserve Fund .. .. 729,193 6 3 Traffic and other debit balances .. 119,239 8 0 Maintenance-ships'reserve .. 85,711 1 2 Bills receivable .. .. .. 34,710 0 0 Insurance reserve for maintenance- Remittances in transit .. .. 15,000 0 0 ships and cables .. .. 90,261 8 9 Cash at banker's and in hand .. 192,640 4 2 Reserve for fire insurance, guarantees, <&o. .. .. .. 60,535 16 5 Sinking fund—Australian subsidy debentures .. .. .. 28,033 16 3 Traffic and other credit balances .. 45,821 1 11 Debenture interest accrued and unpaid .. .. .. .. 5,177 15 9 Proprietors for dividends— Unclaimed dividends ~ .. 1,083 2 0 Third interim dividend of 2s. 6d. per share, paid 15th January, 1897.. 31,250 0 0 Proposed final dividend of 2s. 6d. per share, payable 29th April, 1897.. 31,250 0 0 Proposed bonus of 4s. per share, payable 29th April, 1897 .. 50,000 0 0 Revenue Account balance.. .. 18,798 2 1 £4,165,715 10 _7 £4,165,715 10 7 Audited and found correct. Deloitte, Dbver, Gbifpiths, and C 0.,) . ~, London, 12th April, 1897. Welton, Jones, and Co., | Auditors.

AfeSTEACT t). LIST OF INVESTMEKTS ON ACCOUNT OF RESERVE FUNDS. £ Government and Miscellaneous. £ S- d. 31,000 2f-per-cent. Consols .. .. .. .. ..Costing 31,708 17 3 2,500 Chilian Government 4J-per-eent. converted loan .. .. ~ 2 512 10 4 11,500 Eastern Extension Australasia and China Telegraph Company (Limited) 5-per-cent. Australian Government subsidy debentures .. .. , 11,872 14 0 10,000 East London Waterworks 3-per-cent. debenture stock .. .. 10 576 8 6 1,500 Egyptian Government 3-per-cent. guaranteed bonds \ 429 1 0 3,500 Globe Telegraph and Trust Company (Limited) 6-per-cent. pref. shares .. "„ 5*374 13 0 5,000 Government Stock Investment Trust Company 4-per-cent. debenture stock 5,200 9 10 15,000 India 3-per-cent. stock .. .. .. 13".859 11 3 25,000 Metropolitan Consolidated 3J-per-cent. stock .. .. .. „ 25 968 15 0 5,000 Pacific and European Telegraph Company (Limited) 4-per-cent. guaranteed debentures .. .. .. .. .. .. 5,100 0 0 5,000 Pacific and Oriental Steam Navigation Company debenture stock „ 5,995 15 10 2,500 Southern Mahratta Railway (Limited) 4-per-cent. debenture stock .. „ 2,703 14 8