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1908. NEW ZEALAND.

SINKING FUNDS.

REPORT AND ACCOUNTS OP THE COMMISSIONERS OP THE PUBLIC DEBTS SINKING FUNDS FOR THE YEAR ENDED 31st MARCH, 1908.

Presented to both Houses of the General Assembly in compliance with the 6th Section of " The Public Debts Sinking Funds Act, 1868."

EEPOET,

Government Buildings, Wellington, 14th July, 1908. The Commissioners of the Public Debts Sinking Funds have the honour to lay before Parliament the account of their transactions for the year which ended on the 31st March, 1908. On the 29th February last the Westport Harbour Board paid to the Commissioners £2,500, the first half-yearly instalment of a yearly sinking fund of 1 per cent, which the Board has decided to set apart to provide for the debentures issued in renewal of its loan of £500,000. Including this sum and the balance of cash in hand at the close of March, 1907, the Commissioners had an amount of £10,093 to deal with, of which £9,600 was, as it was accumulated, invested in New Zealand Government 4-per-cent. debentures. There does not appear to the Commissioners to be anything in the other transactions of the year to call for particular notice or explanation. J. K. Wabbubton, Chairman.

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