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8.—7

1878. NEW ZEALAND. SINKING FUNDS. REPORT AND ACCOUNTS OF THE COMMISSIONERS OF THE PUBLIC DEBTS SINKING FUNDS, FOR THE YEAR ENDED 30th JUNE, 1878.

Laid before both Houses of the General Assembly in compliance with the 6th Section of " The Public Debts Sinking Funds Act, 1868." Sic, — Government Buildings, "Wellington, 7th August, 1878. In compliance with the requirements of " The Public Debts Sinking Punds Act, 1868," the Commissioners of the Public Debts Sinking Punds have the honor to lay before Parliament their report and accounts for the year ended 30th June, 1878. Under the provisions of the Bth section of the Public Revenues Act of last session, the Commissioners have, since the Ist January last, received into their custody the funds accrued under "The Wellington Debts Act, 1872," "The North Otago District Public Works Loan Act, 1872," and "The Westland Loan Act, 1873." Particulars of these funds will bo found in the accompanying accounts. It will be observed with regard to the Wellington Debts Act that the funds accrued are £2,357 3s. in excess of the debentures outstanding. The Commissioners, having considered the desirability of exchanging the New Zealand Government securities in their hands, amounting to £97,100, for inscribed stock under " The New Zealand Consolidated Stock Act, 1877," have addressed the Agents in London appointed under the Act with a view to carrying this object into effect. Chaeles Knight, Chairman of the Commissioners of the Public Debts Sinking Punds. Audit Office, Wellington. It is hereby certified that the accounts of the Commissioners of the Public Debts Sinking Punds for the year ending 30th June, 1878, have been duly audited and found to be correct, and that there are securities belonging to the fund in the custody of the Commissioners of the nominal value of £181,316 ss. 4d.; and that the uninvested balance in the hands of the Commissioners, on 30th June last, amounted to £1,600 10s., as appears by the Bank pass-book. Chaeles Knight, Bth August, 1878. Commissioner of Audit. We hereby certify that we have this day examined the securities in the hands of the Commissioners of the Public Debts Sinking Punds, and find them to consist of the following documents :— * s. d. £ s. d. Pixed deposit receipt, Bank of New Zealand ... 95 2 10 28,885 5 11 13,857 3 0 404 17 6 73,242 9 3 4 per cent, bonds, Immigration and Public Works Loan... ... 1,000 0 0 4| „ „ „ 1,000 0 0 Dunedin Corporation mortgage ... ... ... ... 3,300 0 0 Bonds of the Conservators, Canterbury Eivers ... ... ... 14,500 0 0 Treasury bills ... ... ... ... ... ... 25,000 0 0 Scrip Certificate, Defence Loan ... ... ... ... 70,000 0 0 £188,142 9 3 The difference between this amount and that stated in the Avithin account arising on transactions since 30th June last. W. Best, Cashier, Treasury. J. G. Andeeson, Chief Clerk, Audit,

8.—7

2

Dr. ACCOUNT of the RECEIPTS and DISBURSEMENTS OF THE DURING THE YEAR ENDED

RECEIPTS. £ s. d. £ s. d. £ s. d. "New Zealand Loan Act, 1860." Sinking Fund i — On £93,100, at 2 per cent., one year to 30 June, 1878 ,,. 1,862 0 0 Interest on Investments :— Defence Loan Debentures, at 5J per cent., — £28,700, one year to 30 June, 1878 Defence Loan Debentures, at 4J per cent., — £12,150, one year to 30 June, 1878 Canterbury Rivers Act Debentures, at 6 per cent., — £2,000, one year to 9 December, 1877 ... ,, half-year to 9 June, 1878 £300, one year to 13 May, 1878 £1,440, half-year to 17 May, 1878 Immigration ana Public Works Loan Debentures, at 4 per cent., — £1,000, one year to 15 April, 1878 Treasury Bills, at 3Jd. per cent, per diem, — £1,300, one year to 30 April, 1878 1,578 10 0 546 15 0 120 0 0 60 0 0 18 0 0 43 4 0 40 0 0 66 14 6 2,473 3 6 "Auckland Loan Act, 1863." 4,335 3 6 Sinking Fund :— On £31,600, at 2 per cent., one year to 30 June, 1878 ... 632 0 0 Interest on Investments : —■ Defence Loan Debentures, at 5J per cent., — £4,870, one year to 30 June, 1878 Defence Loan Debentures, at 4J per cent., — £1,200, one year to 30 June, 1878 Immigration ana Public Works Loan, 1870, at 4-| per cent., — £40, part of £1,000, one year to 15 April, 1878 ... Treasury Bills, at 3s a. per cent, per aiem,— £140, one year to 30 April, 1878 267 17 0 54 0 0 1 16 0 7 3 8 330 16 8 "Wellington Loan Act, 1862." Ml. 962 16 8 "Wellington Loan Act, 1866." Sinking Fund : — On £13,500 at 2 per cent., one year to 30 June, 1878 ... 270 0 0 Inteeest on Investments:— Defence Loan Debentures, at 5J per cent., — £3,150, one year to 30 June, 1878 Defence Loan Debentures, at 4-i per cent., — £690, one year to 30 Juno, 1878 Treasury Bills, at 3fa. per cent, per aiem,— £250, one year to 30 April, 1878 Canterbury Riyers Act Debentures, at 6 per cent., — £500, one year ana a half to 9 June, 1878 £70, half-year to 17 May, 1878... 173 5 0 31 1 0 12 16 9 45 0 0 2 2 0 264 4 9 "Nelson Waterworks Loan Act, 1864." Sinking Fund :— On £6,200, one year to 31 December, 1878, at 2 per cent. 534 4 9 124 0 0 Interest on Investments : — Defence Loan Debentures, at 5£ per cent., — On £3,600, one year to 30 June, 1878 ... Defence Loan Debentures, at 4| per cent., — On £540, one year to 30 June, 1878 " Immigration ana Public Works Loan Act, 1870," Debentures, at 4J per cent., — On £20, one year to 15 April, 1878 Canterbury Rivers Act Debentures, at 6 per cent., — On £300, one year to 13 May, 1878 On £40, half-year to 17 May, 1878 Treasury Bills, at 8f d. per cent, per diem, — On £230, half-year to 30 April, 1878 198 0 0 24 6 0 0 18 0 18 0 0 14 0 11 16 1 254 4 1 "Canterbury Loan Ordinance, 1856." Interest on Investments :— Canterbury Rivers Act Debentures, at 6 per cent., — £40, half-year to 17 May, 1878 ... Treasury Bills, at 8f d. per cent, per diem, — £1,200, one year to 30 April, 1878 378 4 1 62 15 11 14 0 61 11 11 Carried forward ... 6,273 4 11

8.—7

3

COMMISSIONERS of the PUBLIC DEBTS SINKING FUNDS, CR. 30TH JUNE, 1878.

DISBURSEMENTS. £ s. d. £ a. d. £ s. d. "New Zealand Loan Act, 1860." Purchase-money of 6 per cent. Canterbury Rivers Debentures, at par— Towards £4,500 £3,500 at par Part of Bank of New Zealana fixed aeposit, £8,589 2s. at 5 per cent., aue 30 June, 1878 1,440 0 0 2,000 O 0 54 0 0 3,494 0 0 "Auckland Loan Act, 1863." Purchase-money of 6 per cent. Canterbury Rivers Debentures, at par, towaras £3,500 ... ... ... ... Part of Bank of New Zealana fixed deposit, £8,589 2s. at 5 per cent., due 30 Juno, 1878 100 0 0 170 0 0 70 0 0 "Wellington Loan Act, 1862." Amount released and paid to the Public Account to creait of Provincial Liabilities Account, Wellington 2,471 4 2 "Wellington Loan Aot, 1866." Purchase-money of 6 per cent. Canterbury Rivers Aot Debentures— Towards £4,500 at par „ £3,500 „ Part of Bank of New Zealand 5 por cent, fixed aeposit, for £8,589 2s., duo 30 June, 1878 70 0 0 200 0 0 57 0 0 327 0 0 "Nelson Waterworks Loan Act, 1864." Purchase-money of 6 per cent. Canterbury Rivers Act Debentures— Towards £4,500 at par „ £3,500 „ Part of Bank of New Zealana 5 per cent, fixea aeposit, for £8,589 2s., due 30 June, 1878 40 0 0 100 0 0 138 0 0 278 0 0 "Canterbury Loan Ordinance, 1856." Canterbury Rivers Act Debentures, 6 per cent.— Towards purchase of £4,500 40 0 0 Carried forward ... 6,780 4 2

8.-7

4

DR. ACCOUNT of the RECEIPTS and DISBURSEMENTS of the DURING the YEAR ENDED

RECEIPTS. £ s. a. £ s. a. £ s. a. Brought forward ... 6,273 4 11 "Lyttelton and Christchurch Railway Loan Act, 1860." Sinking Fund :— On £77,700, at 2 per cent., one year to 31 December, 1877 Interest on Investments: — Defence Loan Debentures, at 5J per cent., — £2,900, one year to 30 June, 1878 Defence Loan Debentures, at 4| per cent., — £100, one year to 30 June, 1878 Immigration and Public Works Loan Debentures, at 4£ per cent., — £800, one year to 15 April, 1878 Canterbury Rivers Act Debentures, at 6 per cent., — £1,400, one year to 13 May, 1878 £1,270, half-year to 17 May, 1878 Treasury Bills, at 8fd. per cent, per diem, — One year to 30 April, 1878 159 10 0 4 10 0 1,554 0 0 36 0 0 84 0 0 38 2 0 826 7 7 1,148 9 7 "Canterbury Loan Ordinance, 1862." 2,702 9 7 Sinking Fund : — On £22,800, at 1 per cent., one year to 31 December, 1877 Interest on Investments : — Defence Loan Debentures, at 6J per cent,, — £300, one year to 30 Juno, 1878 Defence Loan Debentures, at 4|- per cent., — £370, one year to 30 June, 1878 ... ... Immigration ana Public Works Debentures, at 4J per cent., —■ £100, one year to 15 April, 1878 Canterbury Rivers Act Debentures, at 6 per cent., — £140, half-year to 17 May, 1878 Treasury Bills, at 8fd. per cent, per aiem, — £230, one year to 30 April, 1878 16 10 0 10 13 0 228 0 0 4 10 0 4 4 0 11 16 1 53 13 1 "Otago Loan Ordinance, 1862." 281 13 1 Sinking Fund : — On £116,700, one-year to 1 July, 1877 Interest on Investments : — Defence Loan Debentures, at 5| per cent., — £0,480, one year to 30 June, 1878 Defence Loan Debentures, at 4$ par cent., — £4,950, one year to 30 June, 1878 Immigration ana Public Works Debentures, at 4J per cent., —■ £40, one year to 15 April, 1878... Canterbury Rivers Act Debentures, at 6 per cent., — £2,000, one year and a half to 9 June, 1878 £1,500, half-year to 17 May, 1878 City of Dunedin Mortgage, at 7 per cent., — £3,300, one year to 1 January, 1878 Treasury Bills, at 8fd. per cent, per aiem, —■ £5,650, one year to 30 April, 1878 356 8 0 222 15 0 1 16 0 1,167 0 0 180 0 0 45 0 0 231 0 0 290 0 1 1,326 19 1 " Wellington Debts Act, 1872," Redeaiption. Amount paid over by tho Treasury, being the cash balance on 31 December, 1877 ... Amount received from Colonial Treasury, being amount of receipts from land sales, January and February, 1878 ... Amount withdrawn from fixea aeposit with Bank of New Zealand ... Interest thereon for one year at 5i per cent., to 5 March, 1878 Amount recoivea from Colonial Treasury, being the balance of the amount receivable from the Emigrant ana Colonist's Aid Corporation 4,188 4 4 1,980 6 8 1,255 17 5 69 1 5 2,493 19 1 52,863 13 2 "Westland Loan Act, 1873," Redemption. Amount paid over by the Treasury, being the cash balance on 31 December, 1877 ... Amount received from the Colonial Treasury, being tho amount of receipts for January and February, 1878, paid into Public Account Amount in fixed aeposit with Bank of New Zealand withdrawn Interest thereon for one year to 5 March, 1878 ... 60,357 3 0 95 2 10 56 6 8 383 15 5 21 2 1 556 7 0 "North Otago District Public Works Loan Act, 1872." Amount paid over by the Treasury, being the cash balance on 31 December, 1877 ... Amount received from the Colonial Treasury, being receipts for January and February, 1878, paid into Public Account by the Receiver of Land Revenue ... Part of the sum of £8,589 2s., in fixed deposit, transferred to other account ... 8,589 2 0 25 0 0 715 0 0 9,329 2 0 Balance on 30th June, 1877 :— Cash in the Bank of New Zealand, Wellington 81,993 18 8 3,974 10 2 £85,968 8 10

8.-7.

COMMISSIONERS of the PUBLIC DEBTS SINKING FUNDS, CR. 30th June, 1878.

5

DISBURSEMENTS. s. d. s. d. £ s. d. Brought forward 6,780 4 2 "Lyttelton and Christchurch Railway Loan Act, 1860." Purchase-money of Canterbury Rivers Act Debentures, 6 per cent., — Towards £4,500 ... „ £3,500 ... Part Bank of New Zealand fixed deposit for £8,589 2s., due 30 June, 1878, transferred from North Otago District Public Works Loan Account 1,270 0 0 800 0 0 64 0 0 2,134 0 0 " Canterbury Loan Ordinance, 1862." Purchase-money of Canterbury Rivers Act Debentures, 6 per cent., — Towards £4,500 ... 140 0 0 100 0 0 Part of Bank of New Zealand fixed deposit for £8,589 2s., due 30 June, 1878 34 0 0 274 0 0 "Otago Loan Ordinance, 1862." Purchase-money of Canterbury Rivers Act Debentures, 6 per cent., — Towards £4,500 ... „ £3,500 ... Part of Bank of New Zealand fixed deposit for £8,589 2s., due 30 June, 1878 1,500 0 0 200 0 0 298 0 0 1,998 0 0 1,998 0 0 "Wellington Debts Act, 1872," Redemption. Amount placed in fixed deposit with the Bank of New Zealand, to 30 June, 1878, at 5 per cent. Ditto, three months to 27 June, 1878, at 4| per cent. Ditto, six months to 27 September, 1878, at 5 per cent. ... 12,311' 15 8 43,857 3 0 4,188 4 4 56,168 18 8 60,357 3 0 "Westland Loan Act, 1873," Redemption. Amount placed in fixed deposit with the Bank of New Zealand, to 1 February, 1879, at 6$ per cent. Ditto, to 20 March, 1879, at 5$ per cent. 95 2 10 404 17 6 500 0 4 " North Otago District Public Works Loan Act, 1872." Amount placed in fixed deposit with the Bank of New Zealand, to 30 June, 1878, at 5 per cent. Payment to Oamaru Harbour Board of Amount paid to credit of this account on 1 October, 1877, by Receiver of Land Revenue, Dunedin, in error 8,589 2 0 735 9 4 9,324 11 4 Balance on 30 June, 1878: — Cash in Bank of New Zealand, Wellington ... 81,367 18 10 4,600 10 0 £85,968 8 10

8.-7.

6

Loans in bespect of which Sinking Funds abe held. j When Securities are Redeemable, "Nelson Waterworks Loan Act, 186A'\ " Lyttelton and Christchurch Railway Loan Act, 1860." " Canterbury Loan Ordinance, 1862." Totals. t "New Zealand Loan Act, 1860." "Auckland Loan Act, 1863." " Wellington Loan Act, 1866." "Canterbury Immigration Loan Ordinance, 1856." " Otago Loan Ordinance, 1862." " WeUington ■ Debts Act, 3873," Redemption. "Westland ' Loan Act, 1873," Redemption. " North Otago District Public AV orks Loan Act, 1872." i - - £ H. (I. ■ I £ s. :"d. I £ s. d. Investments. Defence Loan Debentures- £ S. d. £ e. d.| £ S. a. £ s. d. £. S. d. £ s. d. £ s. d. £ s. d. ' £ s. d. 31 Dec, 1878 5i 28,700 0 0 4,870 0 0 3,150 o o: 3,600 0 0 2,900 0 0 300 0 0 6,480 0 0 50,000 O O Immigration ana Public Works Loan Debentures 1 July, 1880 4i 12,150 0 0 1,200 0 0 690 0 0 540 0 0 100 0 0 370 0 0 4,950 0 0 20,000 0 0 15 April, 1913 4 1,000 0 0 1 - , 1 - I J 1,000 0 0 Ditto, aitto Treasury Bills 15 April, 1882 4i 40 0 0 20 0 0 800 0 0 100 0 0 40 0 0 [ 1,000 0 0 31 1,300 0 0 140 0 0 250 0 0 230 0 o' i ' 16,100 0 0 1,200 0 0 230 0 0 5,650 0 0 25,100 0 Q Canterbury Rivers Act Debentures 13 May, 1927 6 300 0 b 300 0 O 1,400 0 0 i ! : 2,000 0 0 » » » 17 Nov., 1897 6 1,440 0 0 70 0 0 40 0 0 1,270 0 0 40 0 0 140 0 0 1,500 0 0 4,500 0 0 » » » 9 Dec, 1884 6 2,000 0 0 500 0 0 2,000 0 0 4,500 0 0 " J! )J 1 July, 1878 6 2,000 0 0 100 0 0 200 0 0 100 0 0 800 0 0 100 0 0 200 0 0 3,500 0 0 City of Dunedin Mortgage Bank Deposit 13 May, 1877 7 3,300 0 0 3,300 0 0 ... 20 Mar., 1879 I I 404 17 6 404 17 B 1 Peb., 1879 5| 95 2 10 95 8 10 30 June, 1878 5 4,188 4 4 4,188 4 4 30 June, 1878 4i 12,311 15 8 12,311 U B JJ 27 Sept., 1878 5 43,857 3 0 43,857 :i 0 )> 30 June, 1878 5 54 0 0 70 0 0 57 0 0 138 0 0 64 0 01 34 0 0 298 0 0 7,874 2 0 8,589 2 Q Cash in Bank of New Zealand, Wellington... ... ... 48,944 0 0 6,420 0 0 4,917 0 0 4,968 0 0 ,23,434 0 0 1,240 0 0 1,274 0 0 24,418 0 0 60,357 3 0 500 0 4J 7,874 2 0 184,340 6 4 2,159 8 9 798 8 3 7,218 8 3 261 1 2 129 8 0 590 7 1 31 18 9 28 18 8 540 2 0 56 6 8 4 10 8 4,60010 0 Totals ... 51,103 8 9 5,178 1 2 5,097 8 0;. (24,024 7 1 1,271 18 9 24,958 2 0 60,357 3 0 556 7 0 7,878 12 8 188,946 15 4 ... 1,302 18 8:

c ixnxDs 1 >j th be Commissioners of the Public Debts Sinking Funds, on 30th June, 1878.

7

8.-7

STATEMENT showing the DEBENTURES of each LOAN in CIRCULATION, and the SINKING FUNDS ACCRUED, on 30th June, 1878.

Loan. Debentures in Circulation. Rate of Sinking Pund. When Redeemable. Sinking Pund Accrued. " New Zealand Loan Act, 1860 " " Auckland Loan Act, 1863 "... " Wellington Loan Act, 1866 " "Nelson Waterworks Loan Act, 1864" "Canterbury Loan Ordinance, 1856" ... " Lyttelton and Christchurch Railwav Loan Act, 1860" "Canterbury Loan Ordinance, 1862" ... " Otago Loan Ordinance, 1862 " £ 93,100 31,600 13,500 6,200 * Per cent. 2 2 2 2 1 July, 1891 1 June, 1896 1 July, 1886 1 January, 1881... £ s. d. 51,103 8 9 7,218 8 3 5,178 1 2 5,097 8 0 1,271 18 9 77,700 22,800 116,700 2 1 1 1894 to 1897 ... 50 years from date of issue 1 July, 1898 f30 June, 1878, £16,500") ] 30 June, 1879, £25,000 [ (30 June, 1882, £16,500 ) 15 April, 1894 ... 24,024 7 1 1,302 18 8 24,958 2 0 " Wellington Debts Act, 1872," Redemption . ... 58,000 t 60,357 3 0 " Westland Loan Act, 1873," Redemption " North Otago District Public Works Loan Act, 1872" 50,000 t 556 7 0 43,900 10 Not later than 1 November, 1902 7,878 12 8 £ 188,946 15 4 £513,500 * The debentures of the Canterbury Loan of 1856 matured in March, 1873. The Commissioners have been unable ;o ascertain the precise amount unredeemed, but it is within £1,200. f The amounts borrowed are secured on lands specially set apart. Statement of the Expenses incurred during the Year ended the 30th June, 1878. Salary of the Secretary and Accountant ... ... £50. James C. Gatin, 31st July, 1878. Secretary and Accountant to the Commissioners, By Authority : Ceoegb Didsbuey, Government Printer, Wellington.—1878. 'rice 6d.

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Permanent link to this item

https://paperspast.natlib.govt.nz/parliamentary/AJHR1878-I.2.1.3.8

Bibliographic details

SINKING FUNDS. REPORT AND ACCOUNTS OF THE COMMISSIONERS OF THE PUBLIC DEBTS SINKING FUNDS, FOR THE YEAR ENDED 30th JUNE, 1878., Appendix to the Journals of the House of Representatives, 1878 Session I, B-07

Word Count
3,167

SINKING FUNDS. REPORT AND ACCOUNTS OF THE COMMISSIONERS OF THE PUBLIC DEBTS SINKING FUNDS, FOR THE YEAR ENDED 30th JUNE, 1878. Appendix to the Journals of the House of Representatives, 1878 Session I, B-07

SINKING FUNDS. REPORT AND ACCOUNTS OF THE COMMISSIONERS OF THE PUBLIC DEBTS SINKING FUNDS, FOR THE YEAR ENDED 30th JUNE, 1878. Appendix to the Journals of the House of Representatives, 1878 Session I, B-07

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