SINKING FUNDS.

Appendix to the Journals of the House of Representatives, 1926 Session I, B-08

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1926. NEW ZEALAND.

SINKING FUNDS.

REPORT AND ACCOUNTS OF THE COMMISSIONERS OF THE PUBLIC DEBTS SINKING FUNDS FOR THE YEAR ENDED 31st MARCH, 1926.

Presented to both Houses of the General Assembly in compliance with the 51st Section of the New Zealand Loans Act, 1908.

REPORT. Wellington, 9th August, 1926. The Commissioners of the Public Debts Sinking Funds have the honour, in terms of section 51,. New Zealand Loans Act, 1908, to lay before Parliament the account of their transactions for the year ended 31st March, 1926. As mentioned in last year's report a substantial surplus remained after the redemption of the debentures of the £150,000 Westport Harbour Board Loan, and the Commissioners have since handed the amount of £6,787 18s. 4d. to the Treasury in reduction of a loan of £30,495, which had been advanced by the Government to the Westport Harbour Board in 1920. There now remain under the control of the Commissioners only the funds of the Westport Harbour Board loans of £200,000 and £500,000, and there is nothing in their transactions during the year which calls for any comment. CHAS. E. Statham, Chairman.

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ACCOUNT of the RECEIPTS and DISBURSEMENTS of the COMMISSIONERS OF the PUBLIC DEBTS SINKING FUNDS.

RECEIPTS. £ a. d. £ s. d. Westport Harbour Board. Loan of £150,000,— Balance, 1st April, 1925—Cash at bank .. .. .. .. .. 412 18 4 Interest on Investments — Discharged Soldiers Settlement Loans Act, 1919, see. 4 .. .. 125 0 0 Sale of Debentures to Westport Funds 2 and 3— Discharged Soldiers Settlement Loans Account, 1919, sec. 4 .. .. 6,250 0 0 6,375 0 0 Loan of £200,000,— Balance, 1st April, 1925 —Cash at bank .. .. .. .. .. 41 1 10 Contribution to Sinking Fund for one year to 1st March, 1926, per Treasury 2,000 0 0 Interest on Investments, — Waverley Town Board .. .. .. .. .. .. 204 15 0 Land for Settlements Act, 1908 .. .. .. .. .. 333 17 3 Kauri-gum Industry Amendment Act, 1914, and Appropriation Act, 1918, sec. 45 .. .. .. .. .. .. .. 45 0 0 Oxford County Council .. .. .. .. .. .. 63 0 0 Hutt Railway and Boad Improvement Act, 1903 .. .. .. 36 0 0 Aid to Public Works and Land Settlement Act, 1903 .. .. .. 258 15 0 Housing Act, 1919, sec. 30 .. .. .. .. .. 18 0 0 "New Zealand Inscribed Stock Act, 1917; Finance Act, 1919, sec. 5; Railways Improvement Authorization Act, 1914; and Electric-power Works Loan Act, 1919 .. .. .. .. .. .. 163 0 0 New Zealand Inscribed Stock Act, 1917, and Discharged Soldiers Settlement Loans Act, 1920 .. .. .. .. .. .. 68 9 6 New Zealand Inscribed Stock Act, 1917, and State Advances Act, 1913.. 44 15 0 Waihou and Ohinemuri Rivers Improvement Act, 1910, and Finance Act, 1919, sec. 6 .. .. .. .. . . .. .. 90 0 0 Discharged Soldiers Settlement Loans Act, 1919, sec. 4 .. .. 440 0 0 Rangitaiki Land Drainage Act, 1910 .. .. .. .. 234 Hauraki Plains Amendment Act, 1913, and Finance Act, 1921-22, sec. 23 13 10 0 Hutt Railway and Road Improvement Act, 1903 .. .. .. 54 0 0 Government Railways Amendment Act, 1910 .. .. .. 51 15 0 Railways Improvement Authorization Act, 1914 .. .. .. 130 10 0 Hauraki Plains Amendment Act, 1913, and Finance Act, 1920. see. 16 .. 90 0 0 Interest on Current Account, Bank of New Zealand .. .. .. 4 0 1 Debentures matured and redeemed, — — 4,111 10 2 Aid to Public Works and Land Settlement Act, 1903 .. .. . 5,750 0 0 Lands for Settlement Act, 1908 .. .. .. .. .. 6,000 0 0 Railways Improvement Authorization Act, 1914 .. .. .. 2,900 0 0 Waihou and Ohinemuri Rivers Improvement Act, 1910, and Finance Act, 1919, sec. 6 .. .. .. .. .. .. .. 2,000 0 0 16,650 0 0 Loan of £500,000, — Balance, 1st April, 1925—Cash at bank .. .. .. .. .. 25 16 6 Contribution to Sinking Fund for one year to 1st March, 1926, per Treasury 5,000 0 0 Interest on Investments — Waverley Town Board .. .. .. .. .. .. 705 5 0 Immigration and Public Works Loan Act, 1870 .. .. .. 11421 New Zealand Inscribed Stock Act, 1917, and State Advances Act, 1913 .. 56 19 2 Rangitaiki Land Drainage Act, 1910 .. .. .. .. 19 9 10 Kauri-gum Industry Amendment Act, 1914, and Appropriation Act, 1918, sec. 45 .. .. .. .. .. .. .. 202 10 0 Land for Settlements Act, 1908 .. . . .. .. .. 830 7 3 Oxford County Council .. .. .. .. .. .. 52 10 0 Westport Harbour Act, 1920 .. .. .. .. .. 420 0 0 Hutt Railway and Road Improvement Act, 1903 .. . . .. 144 0 0 Housing Act, 1919, sec. 30 .. .. .. .. .. 90 0 0 Aid to Public Works and Land Settlement Act, 1903 .. .. .. 303 15 0 New Zealand Inscribed Stock Act, 1917, and Discharged Soldiers Settlement Loans Act, 1920 .. .. .. .. .. .. 308 5 6 New Zealand Inscribed Stock Act, 1917 ; Finance Act, 1915, sec. 5; Railways Improvement Authorization Act, 1914; and Electric-power Works Loan Act, 1919 .. .. .. .. .. .. .. 469 10 0 Hutt Railway and Road Improvement Act, 1903 .. .. .. 180 0 0 | Railways Improvement Authorization Act, 1914 .. .. .. 283 10 0 Government Railways Amendment Act, 1910 .. .. .. 83 5 0 Hauraki Plains Amendment Act, 1913, and Finance Act, 1920, sec. 16 .. 202 10 0 Hauraki Plains Amendment Act, 1913, and Finance Act, 1921-22, sec. 23 121 10 0 Waihou and Ohinemuri Rivers Improvement Act, 1910, and Finance Act, 1919, see. 6 .. .. .. .. .. .. 22 10 0 Patea Borough .. .. .. .. .. .. .. 225 0 0 Discharged Soldiers Settlement Loans Act, 1919, sec. 4 .. .. 1,037 0 0 Interest on current account, Bank of New Zealand .. .. .. 7 7 11 10,879 6 9 Debentures matured and redeemed, — Aid to Public Works and Land Settlement Act, 1903 .. .. .. 6,750 0 0 Immigration and Public Works Loan Act, 1870 .. .. .. 2,100 0 0 Land for Settlements Act, 1908 .. .. .. .. .. 10,800 0 0 Railways Improvement Authorization Act, 1914 .. .. .. 6,300 0 0 Waihou and Ohinemuri Rivers Improvement Act, 1910, and Finance Act, 1919, sec. 6 .. .. .. .. .. .. 500 0 0 26,450 0 0 Greymotjth Harbour Board. Loan of £100,000, — Balance, 1st April, 1925 —Cash at bank .. .. .. .. .. 255 9 6 £65,201 3 1

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For the Year ended 31st March, 1926.

DISBURSEMENTS. I £ s. d. £ s. d. __ . I Westport Harbour Board. Loan of £150,000, — Treasury—Surplus of Fund in part redemption of Treasury Loan to Board .. .. 6,787 18 4 Loan of £200,000, — Investments — New Zealand Inscribed Stock Act, 1917, and State Advances Act, 1913 .. 15,600 0 0 Land for Settlements Act, 1908 .. .. .. .. .. 1,000 0 0 Waihou and Ohinemuri Rivers Improvement Act, 1910, and Finance Act, 1919, sec. 6 .. .. .. .. .. .. .. 2,000 0 0 Rangitaiki Land Drainage Act, 1910, and Amendments .. .. 200 0 0 Discharged Soldiers Settlement Loans Act, 1919, sec. 4 (from Westport Fund No. 1) .. .. .. .. .. .. .. 2,000 0 0 20,800 0 0 Loan of £500,000,— Investments —- Immigration and Public Works Loan Act, 1870 .. .. .. 2,100 0 0 Land for Settlements Act, 1908 .. .. .. .. .. 4,300 0 0 Waihou and Ohinemuri Rivers Improvement Act, 1910, and Finance Act, 1919, sec. 6 .. .. .. .. .. .. .. 500 0 0 New Zealand Inscribed Stock Act, 1917, and State Advances Act, 1913 .. 24,400 0 0 Rangitaiki Land Drainage Act, 1910, and Amendments .. .. 1,800 0 0 Discharged Soldiers Settlement Loans Act, 1919, sec. 4 (from Westport Fund No. 1) .. .. .. .. .. .. .. 4,250 0 0 37,350 0 0 Grbymouth Harbour Board. Loan of £100,000,— Greymouth Harbour Board —Balance of surplus of Fund .. .. .. 255 9 6 Balance, 31st March, 1926— Cash in Bank of New Zealand .. .. .. .. .. .. 7 15 3 £65,201 3 1

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STATEMENT of the Funds held by the Commissioners of the Public Debts Sinking Funds on the 31st March, 1926.

J. H. Fowler, Secretary and Accountant to the Commissioners.

STATEMENT showing the Debentures of each Loan in Circulation, and the Sinking Fund accrued, on the 31st March, 1926.

STATEMENT of the Expenses incukred during the Year ended 31st March, 1926. £ s. d. Audit fee .. .. .. .. .. .. .. 2 2 0 J. H. Fowler, Secretary and Accountant to the Commissioners. Examined and found correct. H. M. Nalder, Chief Examiner, Audit Office.

Approximate Cost o1 Paper,—Preparation, not given; printing (515 copies), £8.

Authority : W. A. G. Skinner, Government Printer, Wellington.—l 926.

Price 3d.]

Loans in respect of which the © Funds are held. When S . Securities. SdC^ tw " 5 Westport Harbour Board. Totals. redeemable. o 1 £200,000. £500,000. g 15t-h Feb., 1945. 1st Jan., 1949. New Zealand Government Debentures— % £ p. d. £ s. d. £ s. d. Discharged Soldiers Settlement Loans Act, 1919, sec. 4 .. 1 Sept., 1927 4 12,000 0 0 28,050 0 0 40,050 0 0 Government Railways Amendment Act, 1910 .. .. 1 Feb., 1929 4J 1,150 0 0 1,850 0 0 3,000 0 0 Hauraki Plains Amendment Act, 1913, and Finance Act, 1 Aug., 1928 4J 2,000 0 0 4,500 0 0 6,500 0 0 1920, sec. 16 Hauraki Plains Amendment Act, 1913, and Finance Act, 1 Aug., 1928 44 300 0 0 2,700 0 0 3,000 0 0 1921-22, sec. 23 Housing Act, 1919, sec. 30 .. .. .. .. 1 July, 1926 4£ 400 0 0 2,000 0 0 2,400 0 0 Hutt Railway and Road Improvement Acts, 1903,1905,1907, /1 Jan., 1929 4J 800 0 0 3,200 0 0 4,000 0 0 1910 \1 Feb., 1929 4J 1,200 0 0 4,000 0 0 5,200 0 0 Immigration and Public Works Loan Act, 1870 .. .. 1 Feb , 1930 4 .. 2,100 0 0 2,100 0 0 Kauri-gum Industry Amendment Act, 1914, and Appro- 1 Nov., 1926 4£ 1,000 0 0 4,500 0 0 5,500 0 0 priation Act, 1918, sec. 45 Land for Settlements Act, 1908 .. .. .. 1 Jan., 1929 4J 1,000 0 0 4,300 0 0 5,300 0 0 1 May, 1926 4| 1,500 0 0 8,000 0 0 9,500 0 0 New Zealand Inscribed Stock Act, 1917, and Discharged 15 Jan., 1933 1 ,245 0 0 5,605 0 0 6,850 0 0 Soldiers Settlement Loans Act, 1920 New Zealand Inscribed Stock Act, 1917, Electric-power 15 July, 1930 5 3,260 0 0 9,390 0 0 12,650 0 0 Works Loan Act, 1919, Finance Act, 1919, sec. 5, and Railways Improvement Authorization Act, 1914 New Zealand Inscribed Stock Act, 1917, and State Advances Act, 1913 .. .. .. .. .. 1 Feb., 1936 5| 15,600 0 0 24,400 0 0 40,000 0 0 Rangitaiki Land Drainage Act, 1910, and Amendments 1 Mar,, 1929 4 200 0 0 1,800 0 0 2,000 0 0 Waihou and Ohinemuri Rivers Improvement Act, 1910, and 1 Aug., 1930 4§ 2,000 0 0 500 0 0 2,500 0 0 Finance Act, 1919, sec. 6 Westport Harbour Act, 1920, Westport Harbour Board Act, I Jan., 1949 4 .. 10,500 0 0 10,500 0 0 1884, and Loan Acts, 1896, 1897, and 1900 Local Authorities' Debentures— Oxford County Council .. .. .. .. 1 Dec., 1940 5J 1,200 0 0 1,000 0 0 2,200 0 0 Waverley Town Board (1) .. .. .. .. 1 April, 1955 5 3,670 0 0 | 9,750 0 0 13,420 0 0 (2) .. .. 1 Oct., 1956 5 425 0 0 I 4,355 0 0 4,780 0 0 Patea Borough .. .. .. .. .. 1 Sept., 1953 4| .. j 5,000 0 0 5,000 0 0 48,950 0 0 Il37,500 0 0 186,450 0 0 Cash in Bank of New Zealand .. .. .. .. .. .. 2 12 0 533 7 15 3 Totals .. .. .. .. .. .. 48,952 12 0 137,505 3 3 186,457 15 3

D ~r n S When redeemable. i I £ Per Cent. £ s. d. Westport Harbour Board Loan .. .. 200,000 1 15 February, 1945 .. 48,952 12 0 Westport Harbour Board Loan .. .. 500,000 1 1 January, 1949 .. 137,505 3 3 £700,000 .. .. £186,457 15 3