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Statement oh' Liabilities. Outstanding liabilities, — £ s. d. Debentures issued under the Local Bodies' Loans Acts* .. .. .. .. .. .. 3,523,100 0 0 Under the Local Bodies' Loans Act, 1908 — Unpaid balances of loans to local authorities . . .. .. .. .. .. . . 10,707 0 0 £3,533,807 0 0 Statement ob Assets. Assets, — £ s. d. £ s. d. £ s. d. Payments for twenty-six years of 4-1- per cent, per annum on amount of inscribed debts of local bodies (£1,161,329 Bs. sd.f) .. •• 1,358,755 8 6 Payments for thirty-two years of 4 per cent, per annum on amount of inscribed debts of local bodies (£104,443 12s! Iod.t) .. .. 133,687 17 4 Payments for forty-one years of 3|- per cent, per annum on amount of inscribed debts of local bodies (£1,720,235 Bs. 2d.f) .. •• 2,468,537 16 0 3,960,981 1 10 Less amount paid in respect of the annual repayments .. 1.348,289 17 8 2,612,1191 4 2 Inscribed debt under section 75 of the Local Bodies' Loans Act, 1908 . . 607,276 7 7 Less amount refunded on disposal of lands .. .. .. 397,996 13 9 209,279 13 10 Sinking Fund created under section 88 of the Local Bodies' Loans Act, 1908 799.600 12 0 Cash balance, 31st March, 1912 .. .. .. .. .. 7.256 13 7 ],016,136 19 5 £3,628,828 3 7

J. W. Poynton, The Treasury, 22ud May, 1912. Secretary to the Treasury. Notes.— The total amount borrowed up to the 31st March, 1912, was £3,523,100. The total amount repaid to Public Works Fund up to the 31st March, 1913, was £89.800. . The total amount advanced to local bodies up to the 31st March, 1912, was £2,873,016 Is. 7d.; less refunds, £35,773 17s. 10d.=£2,837,212 bs. 90. The total amount advanced under section 75 of the Locai Bodies' Loans Act, 1908, up to the 31st March, 1912. was £608,276 7s. 7d., less refund of £131 = £608,115 7s. 7d. ' £1,421,800 of tliis amount has been converted into consolidated-stock debentures under the Consolidated Stock Act, 1881. i These amounts represent the debt as inscribed up to the Ist February. 1911. They include the inscribed stock exchanged tor debentures under the Boads and Bridges Construction Act. 1882. amountiug to £89,878 Hs. 9d'.' (See 8.-13,1891.) Approxi'iiiate Cost of Paper. —Preparation, not given printing (1,500 copies), £2 10s.

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