REPORT OF THE COMMISSIONERS OF THE PUBLIC DEBTS SINKING FUNDS, FOR THE YEAR ENDED 30 JUNE, 1871.

Appendix to the Journals of the House of Representatives, 1871 Session I, B-15

B.—No. 15.

REPORT OF THE COMMISSIONERS OF THE PUBLIC DEBTS SINKING FUNDS, FOR THE YEAR ENDED 30 JUNE, 1871.

LAID BEFORE BOTH HOUSES OF THE GENERAL ASSEMBLY IN COMPLIANCE WITH THE SIXTH SECTION OF "THE PUBLIC DEBTS SINKING FUNDS ACT, 1868."

WELLINGTON. 1871.

B.— No. 15.

REPORT OF THE COMMISSIONERS OE THE PUBLIC DEBTS SINKING FUNDS, FOR THE YEAR ENDED JUNE 30, 1871.

Wellington, 31st August, 1871. The Commissioners of the Public Debts Sinking Funds append to their Annual Report a copy of their Accounts, which fully explain all the transactions of the Commission during the past Financial, Tear. The question of placing the Sinking Funds of the Canterbury Loans under the Commissioners was brought before them by the Government, but the Commissioners have been unable, under tho existing law, to accept these Trusts. Should it be thought desirable that these Funds should be placed in their hands, some alteration in the law will be necessary. James EnwAED FitzGerald, Chairman to the Commissioner.

REPORT OF THE COMMISSIONERS OP

B.^-No. 15.

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DR. ACCOUNT CURRENT OF THE RECEIPTS AND DISBURSEMENTS DURING THE YEAR ENDED

RECEIPTS. £ s. d. £ «. d. £ a. d. "New Zealand Loan Act, 1860." Sinking Fund at 2 per cent. ■.— £93,100, 1 year to 30 June, 1871 ... Interest on Investments : — Treasury Bills at 4d. per cent, per diem,— £2,300, 1 Jan., 1870, to 30 June, 1871 ... 800,4 May „ to „ „ 8,350, 1 April „ to 31 Mar 9,700, 26 July „ to „ „ ... 209 6 0 56 5 4 507 19 2 400 18 8 1,862 0 0 "Auckland Loan Act, 1863." Sinking Fund at 2 ter cent. : — £38,750, 1 year to 30 June, 1870 31,000, „ to „ 1871 1,174 9 2 3,036 9 2 775 0 0 632 0 0 1,407 0 0 "Wellington Loan Act, 1862." Sinking Fund at 4 per cent. : — £9,000, j year to 30 June, 1870 ... 2,000, 1 year to „ 1871 ... . .... ... .,. 192 0 0 80 0 0 272 0 0 Investments Keaijzed :— Mortgages paid olF, — W. C. Wybourn ... ... £200 0 0 R. Sutoliffe ... ... ... 200 0 0 400 0 0 Mortgages sold to Provincial Government, — J. Halliday .... • ••• ... £500 0 0 H. W. and J. London ... ... 300 0 0 Francis Smith ... ... ... 400 0 0 J. T. Hooper ... ... ... 200 0 0 David Hart ... . . 200 0 0 Portion of share of Treasury Bill for £12,000, transferred 19 Nov., 1870, to the Account .of the Sinking Fund of the Otago Loan of 1861-2 1,000 0 0 800 0 0 2,800 0 0 Interest on Investments : — Mortgages,— Francis Smith, to 1 July, 1870 ... £10 0 0 W. C. Wybourn, to G July „ ... 5 0 0 H. W. and J. London, to 12 Sept. „ ... 15 0 0 J. T. Hooper, to 1 Oct. 15 0 0 K. Stafford, . to 23 May „ ... 16 2 2 David Bart, to 1 Oct. „ ... 12 3 9 R. Butdifle ... ... ... 94 12 8 197 18 7 Treasury Dili* at Id. per crnt. per diem, — £100, 4 May to 80 June, 1870 ... £0 19 0 100, 1 July to 31 Dec. „ ... 3 14 1,600, 26 July to 19 Nov. „ ... 29 0 0 700, 20 Nov. to 81 Mar., 1871 ... 15 8 0 100, 1 Jan. to 30 June „ ... 3 0 4 51 8 8 249 7 3 "Wellington Loan Act, 1866." Sinking Fukd at 2 peb cknt. : — £13,500, 1 year to 31 Dec, 1870 ... Investment Realized, — P. Crowther's Mortgage paid off ... Interest on Ihtkbtmbhtb : — Mori gapes, — R. Rowe, on account ... ... . £9 13 9 A. Robinson, to 1 April, 1870 ... 25 0 0 T. Robinson, on account ... ... 19 10 0 F. Crowtlicr, to 12 Oct., 1870 ... 7 14 10 270 0 0 150 0 0 3,321 7 3 Treasury Bills at 4(\. per cent, per diem, — £300, 4 May, 1870, to 30 June, 1871 ... £21 2 0 800,26 July, „ to 31 Mar. „ ... 12 8 0 61 18 7 33 10 0 95 8 7 515 8 7 Carried forward

THE PUBLIC DEBTS SINKING FUNDS.

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B.—No. 15.

OF THE COMMISSIONEES OF THE PUBLIC DEBTS SINKING FUNDS CR. THE 30TH JUNE, 1871.

DISBURSEMENTS. £ b. d. £ s. d. £ a. d. "New Zealand Loan Act, 1860." Investments : — Amount contributed towards purchase of Debentures of the Defence Loan, — 21 April, 1871 ... 30 June „ 2,045 0 0 1,025 0 0 Amount contributed towards purchase of Treasury Bill for £12,000, at par, bearing interest at 4d. per cent, per diem, from 26 July, 1870... 3,070 0 0 9,700 0 0 12,770 0 0 "Auckland Loan Act, 1863." Investments : — Amount contributed towards purchase of Debentures of the Defence Loan, — 21 April, 1871 ... .:. 30 June „ 775 0 0 625 0 0 1,400 0 0 "Wellington Loan Act, 1862." Investments : — Amount contributed towards purchase of Treasury Bill for £12,000, at par, bearing interest at 4d. per cent, per diem, from 26 July, 1870... Amount contributed towards purchase of Debentures of the Defence Loan, — 21 April, 1871 30 June „ 520 0 0 40 0 0 1,500 0 0 560 0 0 Sinking Fund released and paid to Provincial Account, Wellington, under award of the Commissioners, dated 18 Nov., 1870 2,060 0 0 2,800 0 0 4,860 0 0 "Wellington Loan Act, I860." Investments : — Amount contributed towards purchase of Treasury Bill for £12,000, at par, bearing interest at 4d. per cent, per diem, from 26 July, 1870 ... Amount contributed towards purchase of Debentures of the Defence Loan, — 21 April, 1871 ... 30 June „ 300 0 0 535 0 0 15 0 0 550 0 0 850 0 0 Carried forward ... ... ...

B.—No. 15.

REPORT OE THE COMMISSIONERS OP

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>R. OF 'HE EECEIPXS. £ s. d. £ s. d. £ s. d. Brought forward " Nelson Waterworks Loan Act, 1864." Sinking Fund at 2 pee cent. : — £20,000, from 1 Jan., 1856, to 30 June, 1868 17,400, from 1 July, 1868, to 31 Dec, 1869 17,400, from 1 Jan., 1870, to 30 June, 1870 14,200, from 1 July „ to 31 Dec. „ 1,000 0 0 522 0 0 174 0 0 142 0 0 Interest on £1,522, to 30 Sept., 1870 1,838 0 0 210 13 4 2,043 13 4 "Otago Loan Ordinance, 1861-62." sinking fltnd at 3 per cent. :— £41,100, 1 year to 1 July, 1870 ... ... " ... Interest on Investments : — Treasury Bills at 4d. per cent, per diem, — £400, 1 Jan., 1870, to 30 June, 1871 ... £36 8 0 300, 4 May „ to „ „ ... 21 2 0 800, 19 Nov. „ to 31 Mar. „ ... 17 12 0 1,233 0 0 75 2 0 Dunedin Waterworks Debentures at 8 per cent., — £5,000, 1 year to 31 Jan., 1871 Otago Harbour Loan Debentures at 8 per cent., — £3,250, 1 year to 1 May, 1871 400 0 0 260 0 0 735 2 0 "Otago Loan Ordinance, 1862." Sinking Fund at 1 per cent. : — £145,500, 1 year to 1 July, 1870 ... Interest on Investments : — Treasury Bills at 4d. per cent, per diem, — £100, 4 May, 1870, to 30 June, 1871 ... £7 0 8 100,26 July ,, to 31 Mar. „ ... 4 2 8 1 1,968 2 0 1,455 0 0 11 3 4 Corporation, City of Dunedin, Mortgage, — £3,300, 7 per cent., 1 year to 1 Jan., 1871 Otago Harbour Loan Debentures, — £3,900, 8 per cent., 1 year to 1 May, 1871 231 0 0 312 0 0 554 3 4 "Otago Harbour Loan Ordinance, 1862." Sinking Fund at 3 per cent. :— £46,650, 1 Nov., 1869, to 30 June, 1870 44,100, 1 July, 1870, to 1 Nov. „ 933 0 0 441 0 0 2,009 3 4 1,374 0 0 Interest on Investments : — Treasury Bills at 4d. per cent, per diem, — £2,700, 1 Jan., 1870, to 30 June, 1871 ... £245 14 0 200, 26 July „ to 31 Mar. „ ... 8 5 4 253 19 4 Otago Harbour Loan Debentures at 8 per cent., — £2,600, 1 May, 1870, to 1 May, 1871 Otago Public Buildings Loan Debentures, — £1,525, 1 April, 1870, to 1 April, 1871 ... Corporation, City of Dunedin, Mortgage, — £1,650, at 7 per cent., £ year to 22 Nov., 1870 208 0 0 122 0 0 57 15 0 641 14, 4 "Otago Punuc Buildings Loan Ordinance, 1862." Sinking Fund at 3 pee cent. : — £40,450, 1 Oct., 1860, to 30 June, 1870 40,075, 1 July, 1870, to 1 Oct. „ 2,015 14 4 910 2 6 300 11 3 1,210 13 9 Interest on Investments : —■ Treasury Bills at 4 per cent, per diem., — £3,000, 1 Jan., 1870, to 30 June, 1871... £273 0 0 200, 26 July „ to 31 Mar. „ ... 8 5 4 281 5 4 Otago Harbour Loan Debentures at 8 per cent., — £1,550, 1 year to 1 May, 1871 Corporation, City of Dunedin, Mortgage,— £1,650, 7 per cent, i year to 22 Not., 1870 124 0 0 57 15 0 463 0 4 Messrs. Hart and Buckley. Fees on Deed of Release to Mr. Gr. Graham, of Auckland 1,673 14 1 2 12 6 Total Eeceipts Balance on 30 June, 1870 ... 17,998 4 7 12,272 11 2 £30,270 15 9

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H-No. 15.

DEBTS SINKING- FUNDS— continued. Ce. DISBURSEMENTS. £ s. d. £ s. d. £ s. d. Brought forward " Nelson Wateeworks Loan Act, 1864." Investments : — Amount contributed towards purchase of Debentures of the Defence Loan, — 21 April, 1871 ... 30 June „ 1,730 0 0 300 0 0 2,030 0 0 " Otago Loan Oedinance, 1861-62." Investments : — Amount contributed towards purchase of Treasury Bill for £12,000, at par, bearing interest at 4d. per cent, per diem, from 26 July, 1870; transferred 19 Nov., 1870, from Wellington Loan of 1862 Amount contributed towards purchase of Debentures of the Defence Loan, — 21 April, 1871 ... 26 June „ 30 June „ 1,060 0 0 130 0 0 20 0 0 800 0 0 1,210 0 0 2,010 0 0 "Otago Loan Oedinance, 1862." Investments :— Amount contributed towards purchase of Treasury Bill for £12,000, at par, bearing interest at 4d. per cent, per diem, from 26 July, 1870... Amount contributed towards purchase of Debentures of the Defence Loan, — 21 April, 1871 ... 26 June „ 30 June „ 1,920 0 0 150 0 0 10 0 0 100 0 0 i 2,080 0 0 2,180 0 0 " Otago Haebour Loan Ordinance, 1862." Investments : — Amount contributed towards purchase of Treasury Bill for £12,000, at par, bearing interest at 4d. per cent, per diein, from 26 July, 1870... Amount, contributed towards purchase of Debentures of the Defence Loan, — 21 April, 1871 26 June ,, 30 June „ 1,795 0 0 160 0 0 75 0 0 200 0 0 2,030 0 0 2,230 0 0 "Otago Public Buildings Loan Ordinance, 1862." Investments : — Amount contributed towards purchase of Treasury Bill for £12,000, at par, bearing interest at 4d. per cent, per diem, from 26 July, 1870... Amount contributed towards purchase of Debentures of the Defence Loan, — 21 April, 1871 ... 26 June ,, 30 June ,, 200 0 0 1,520 0 0 60 0 0 90 0 0 1,670 0 0 1,870 0 0 Solicitors to the Commissioners. Payment of Balance at credit of Account n 12 io 11 12 10 Total Disbursements Balance on 30 June, 1871 30,211 12 10 59 2 11 £30,270 16 8

B.—ATo. 15.

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EEPOET 0E PUBLIC DEBTS SINKING FUNDS COMMISSIONERS.

STATEMENT of the SINKING FUNDS in the hands of the Commissioners of the Public Debts Sinking Funds, on 30th June, 1871.

LOAN'S IH RESPECT OP WHICH THE SlNKINU FtJNDS AEE HELD. JNew Zealand Loan Act, 1860. Auckland Loan Act 1863. Wellington Loan Act, 1862. Wellington Loan Act, 1S6G. Nelson Waterworks Loan Act, 1861. Otago Loan Ordinance, 1861-62. Otago Loan Ordinance, 1862. Otago Harbour Loan Ordinance, 1862. Otago Public Buildings Loan Ordinance, 18G2. Totals. Investments. N.55. Treasury Bills, at 1-1. par cent per diem : — Redeemable, 8 let October, 1870 „ 1st November, 1874 * BT.M. Defence Loan,Debonturee Oiflgo Harbour Loan Debentures, at 8 per cent.: — ' * Redeemable, 1st November, 1874 ... ... i Ohngo Public Building? Loan Debentures, at 8 per j cent.: — Redeemable, 1st October, 1875 Diinedin Waterworks Debentures, at 8 per cent.: — Redeemable, January, 1877 Corporation, .City Dunedin, Mortgages, 7 per cent.: — Redeemable, 22nd November, 1874 „ 1st July, 1898 Mortgages on Real Estate in (ho Province of Wellington £ s. a. 9,700 0 0 11,450 0 0 3,070 0 0 £ s. d. l,40o"o 0 ... £ s. d. 700 0 0 100 0 0 560 0 0 £ s. d. 300 0 0 300 0 0 550 0 0 £ s. d. 2,030 0 0 £ s. d. 800 0 0 700 0 0 1,210 0 0 3,250 0 0 £ s. a. 100 0 0 100 0 0 2,030 0 0 3,900 0 0 £ s. d. 200 0 0 2,700 0 0 2,030 0 0 2,600 0 0 . 1,525 0 0 £ s. d. 200 0 0 3,000 0 0 1,670 O 0 1,550 0 0 £ s. d. 12,000 0 0 18,350 0 0 14,600 0 0 11,300 0 0 1,525 0 0 6,000 0 0 ... 5,000 0 0 3,300 0 0 1,650 0 0 1,650 0 0 3,300 0 0 3,300 0 0 ... 650 0 0 650 0 0 Total Investments Cash Uninvested ... ... j 21,220 0 0 2 12 4 - 1,400 0 0 7 0 0 1,360 0 0 4 19 11 1,800 0 0 1 15 7 2,030 0 0 18 13 4 10,900 O 0 4 5 5 9,480 0 0 13 4 10,705 0 0 13 11 11 8,070 0 0 5 11 1 70,025 0 0 59 2 11 Total Sinking Funds ... 24,222 12 4 ! 1,407 0 0 j 1,364 19 11 10,718 11 11 I 1,801 15 7 2,048 13 4 10,901 5 5 9,180 13 4 8,075 11 1 70,084 2 11 * These Debentures are not yet in the hands of the Commissioners. Statement of the Debentures of each Loan in Circulation, and Sinking Funds accrued, 30th June, 1871. ! Ill Tniwj ~n «!-.««<-.»„«« ;« n;-.,,.,,!**;^-. I yu"i,™ *d.,;i,,««».,i,i.. Loans. Debentures in Circulation. Rate of Sinking Fund. Sinking Funds Accrued. Loans. Debentures in Circulation. Vvlipii "Rpdnnvnablti. When Redeemable. ljuaps. jjeoenxures in i_ lrcuiation. vv neii Jxcueeinauie. £ £ 93,100 31,600 2,000 13,500 £ s. d. 24,222 12 4 1,407 0 0 1,364 19 11 ],801 15 7 I New Zealand Loan Act, 1860 93,100 1st July, 1891 : Auckland Loan Act, 18(53 31,600 1st Julie, 1890 Wellington Loan Act, 1862 2,000 1st July. 1877 Wellington Loan Act, 1866 13,500 1st July, 188fi ! Nelson Waterworks Loan Act, 1864 14,200 < 1st January, 1876 ' ) 6.200. 1st January. 1881 1st July, 1891 1st June, 1890 1st July. 1877 1st July, 1886 ( 8,000, 1st January, 1876 ( 6,200, 1st January, 1881 C 34,000, 31st December, 1874 \ 6.000, 31st December, 1875 1st July, 1898 1st November, 1874 1st October, 1874 2 per cent. 4 „ (^ o,zuu, xst January, idoi 14,200 40,100 j 3 „ 2,048 13 4 10,964 5 5 Otago Loan Ordinance, 1861-62 40,100 f3^' \}'t £"*«»}**• }%\ ° I 6,000, 31st December, 187a Otago Loan Ordinance, 18G2 ■ 117,700 1st July, 1898 Otago Harbour Loan Ordinance, 1862 ... j 44,100 1st November, 1874 Otago Public Buildings Loan Ordinance, 1802 j 40,075 1st October, 1874 i 396.375 117,700 44,100 40,075 1 „ 3 9,480 13 4 10,718 11 11 8,075 11 1 396,375 70,084 2 11 Statement of the Expenses incurred by the Commissioners of the Public Dobfs Sinking Fun Salary of Secretary and Accountant ... ... ... ... Messrs. Hart and Buckley, Solicitors, for professional services da, during the Year ended 30th June, 1871. ... £50 0 0 ... 20 10 4 Total ... £70 10 4 Wellington, 31st July, 1871. James C. GKatin, Secretary and Accountant to Commissioners.