SINKING FUNDS.

Appendix to the Journals of the House of Representatives, 1927 Session I, B-08

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1927. NEW ZEALAND.

SINKING FUNDS.

REPORT AND ACCOUNTS OF THE COMMISSIONERS OF THE PUBLIC DEBTS SINKING FUNDS FOR THE YEAR ENDED 31st MARCH, 1927.

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, 1927. 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, 1927. Nothing in the proceedings of the year has occurred which calls for special remark by the Commissioners. Chas. E. Statham, Chairman.

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

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RECEIPTS. £ s. d. £ s. d. Westport Harbour Board. Loan of £200,000,— Balance, 1st April, 1926 —Cash at bank .. .. .. .. .. 2 12 0 Contribution to Sinking Fund for one year to 1st March, 1927, per Treasury 2,000 0 0 Interest on Investments, — Waverley Town Board .. .. .. .. .. .. 204 15 0 Land for Settlements Act, 1908 .. .. .. .. .. 78 15 0 Kauri-gum Industry Amendment- Act, 1914, and Appropriaton Act, 1918, sec. 45 .. .. .. .. .. .. .. 45 0 0 Oxford County Council .. _ .. .. .. .. .. 63 0 0 Housing Act, 1919, sec. 30 .. .. .. .. .. 9 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— Advances to settlers .. .. .. .. .. .. 687 19 2 Advances to workers .. .. .. .. .. .. 275 11 0 New Zealand Inscribed Stock Act, 1917, and Finance Act, 1920, sec. 15 — Electric-power works .. .. .. .. .. .. 16 7 0 Public works .. .. .. .. .. .. .. 19 2 2 Waihou and Ohinemuri Rivers Improvement Act, 1910, and Finance Act, 1919, see. 6 .. .. .. .. .. .. 90 0 0 Discharged Soldiers Settlement Loans Act, 1919, sec. 4 .. .. 480 0 0 Rangitaiki Land Drainage Amendment Act, 1913, and Amendments .. 8 0 0 Hauraki Plains Amendment Act, 1913, and Finance Act, 1921-22, sec. 23 13 10 0 Hutt Railway and Road Improvement Act, 1903, 1905, 1907, 1910 .. 90 0 0 Government Railways Amendment Act, 1910 .. .. .. 51 15 0 Hauraki Plains Amendment Act, 1913, and Finance Act, 1920, sec. 16 .. 90 0 0 Interest on Current Account, Bank of New Zealand .. .. .. 10 3 4,455 4 1 Debentures matured and redeemed, — Housing Act, 1919, sec. 30 .. .. .. .. .. 400 0 0 Lands for Settlement Act, 1908 .. .. .. .. .. 1,500 0 0 Kauri-gum Industry Amendment Act, 1914, and Appropriation Act, 1918, see. 45 .. .. .. .. .. .. .. 1,000 0 0 2,900 0 0 Loan of £500,000,— Balance, 1st April, 1926—Cash at bank ... .. .. .. .. 5 3 3 Contribution to Sinking Fund for one year to 1st March, 1927, per Treasury 5,000 0 0 Interest on Investments— Waverley Town Board .. .. .. .. .. .. 705 5 0 Immigration and Public Works Loan Act, 1870 .. .. 84 0 0 Rangitaiki Land Drainage Amendment Act, 1913, and Amendments .. 72 0 0 Kauri-gum Industry Amendment Act, 1914, and Appropriation Act, 1918, sec. 45 .. .. .. .. .. .. .. 202 10 0 Land for Settlements Act, 1908 .. .. .. .. .. 373 10 0 Oxford County Council .. .. .. .. .. .. 52 10 0 Westport Harbour Act, 1920, Westport Harbour Board Act, 1884, and Loans Act, 1896, 1897, and 1900 .. .. .. .. .. 420 0 0 Hutt Railway and Road Improvement Act, 1903,1905, 1907, 1910 .. 324 0 0 Housing Act, 1919, sec. 30 .. . . . . . . .. 45 0 0 New Zealand Inscribed Stock Act, 1917, and Discharged Soldiers Settlement Loans Act, 1920 .. .. . . .. . . .. 308 5 6 New Zealand Inscribed Stock Act, 1917 ; Railways Improvement Authorization Act, 1914 ; Electric-power Works Loan Act, 1919 ; Finance Act, 1919, sec. 5 ... . . .. .. .. .. .. 469 10 0 New Zealand Inscribed Stock Act, 1917, and State Advances Act, 1913- — Advances to settlers .. .. .. .. .. .. 1,199 0 5 Advances to workers .. .. .. .. .. .. 631 19 .9 New Zealand Inscribed Stock Act, 1917, and Finance Act, 1920, sec. 15 — Electric-power works .. .. .. . • ■ ■ •. 36 4 0 Public works .. .. .. .. .. .. .. 80 5 4 . 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 •••.' ■ Ov< Waihou and Ohinemuri Rivers Improvement Act, 1910, and Finance Act, 1919,sec. 6 .. .. .. .. .. .. .. 22 10 0 Patea Borough .. .. .. .. . . .. .. 225 0 0 Discharged Soldiers Settlement Loans Act, 1919, sec. 4 .. .. 1,122 0 0 Interest on current account, Bank of New Zealand .. .. .. 3 7 0 11,784 2 0 Debentures matured and redeemed, — Housing Act, 1919, sec. 30 .. .. .. .. .. 2,000 0 0 Kauri-gum Industry Amendment Act, 1914, and Appropriation Act, 1918, sec. 45 .. .. .. .. .. .. .. 4,500 0 0 Land for Settlements Act, 1908 .. .. .. .. .. 8,000 0 0 14,500 0 0 £33,647 1 4

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For the Year ended 31st March, 1927.

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DISBURSEMENTS. £ s. d. £ s. d. ! ' • | I | Westport Hakbotjb Boakd. Loan of £200,000, —• Investments — New Zealand Inscribed Stock Act, 1917, and State Advances Act, 1913 — Advances to settlers .. .. .. .. .. .. 2,150 0 0 Advances to workers .. .. .. .. .. .. 1,200 0 0 New Zealand Inscribed Stock Act, 1917, and Finance Act,, 1920, sec. 15 — . Electric-power works .. .. .. .. .. .. 700 0 0 Public works .. .. .. .. .. .. .. 2,000 0 0 New Zealand Inscribed Stock Act, 1917, and Finance Act, 1921, sec. 10 (Public works) .. .. .. .. .. .. .. 1,300 0 0 7,350 0 0 t!<? ; o o m'.j • <j o ixio.i u ■ V. ''.V : V. M " " I . Loan of £500,000, — Investments — New Zealand Inscribed Stock Act, 1917, and State Advances Act, 1913 — Advances to settlers .. .. .. .. .. .. 11,050 0 0 Advances to workers .. .. .. .. .. .. 3,150 0 0 New Zealand Inscribed Stock Act, 1917, and Finance Act, 1920, sec. 15.— Electric-power works .. .. .. .. .. .. 1,550 0 0 Public works .. .. .. .. .. .. .. 7,150 0 0 New Zealand Inscribed Stock Act, 1917, and Finance Act, 1921, sec. 10 (Public works) .. .. .. .. .. .. .. 3,200 0 0 26,100 0 0 j ' !■ ■ f H 8 -1 < 1 * t ■[, : Balance, 31st March, 1927— Cash in Bank of New Zealand .. .. .. .. .. .. 197 i 4 £33,647 1 4 .0 .L : 7 -iiostisfh yU

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STATEMENT of the Funds held by the Commissioners of the Public Debts Sinking Funds on the 31st March, 1927.

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, 1927.

STATEMENT of the Expenses incurred during the Year ended 31st March, 1927. £ s. d. Audit fee .. .. .. .. .. .. .. 220 J. H. Fowler, Secretary and Accountant to the Commissioners. Examined and found correct. H. M. Nalder, Chief Examiner, Audit Office.

Approximate Cost of Paper.—Preparation, not given; printing (515 copies), £7 ss.

Authority : W. A. G. Skinner, Government Printer, Wellington.—l 927.

Price 3d,.]

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43* Loans in respect of which the © Funds are held. When S Securities Securities a . . securities. are m Westport Harbour Board. lotais. redeemable. o f £200,000. £500,000. g 15th Feb., 1945. 1st Jan., 1949. New Zealand Government Debentures — % £ s. d. £ s. d. £ s. d. Discharged Soldiers Settlement Loans Act, 19X9, 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 4J 300 0 0 2,700 0 0 3,000 0 0 1921-22, sec. 23 Hutt Railway and Road Improvement Acts, 1903, 1905, f 1 Jan., 1929 4|- 800 0 0 3,200 0 0 4,000 0 0 1907, 1910 \l Feb., 1929 4| 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 Land for Settlements Act, 1908 .. .. .. 1 Jan., 1929 1,000 0 0 4,300 0 0 5,300 0 0 New Zealand Inscribed Stock Act, 1917, and Discharged 15 Jan., 1933 5| 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 1 Feb., 1936 5J 13,150 0 0 25,050 0 0 38,200 0 0 Act, 1913, Advances to Settlers Branch New Zealand Inscribed Stock Act, 1917, and State Advances fl Feb., 1936 5J 4,600 0 0 10,400 0 0 15,000 0 0 Act, 1913, Advances to Workers Branch \ 15 Feb., 1932 5J 1,200 0 0 3,150 0 0 4,350 0 0 New Zealand Inscribed Stock Act, 1917, and Finance Act, 1920, sec. 15— Electric-power works .. .. .. .. 1 Feb., 1936 5i 700 0 0 1,550 0 0 2,250 0 0 Public works .. .. .. .. .. 15 Feb., 1932 5j 2,000 0 0 7,150 0 0 9,150 0 0 New Zealand Inscribed Stock Act, 1917, and Finance Act, 15 Feb., 1932 ; 5|- 1,300 0 0 3,200 0 0 4,500 0 0 1921, sec. 10 (Public works) Rangitaiki Land Drainage Amendment Act, 1913, and \ *5 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 4.1 2,000 0 0 500 0 0 2,500 0 0 Finance Act, 1919, sec. 6 Westport Harbour Act, 1920, Westport Harbour Board Act, 1 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 5i 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 4,355 0 0 4,780 0 0 Patea Borough .. .. .. .. .. 1 Sept., 1953 4J- .. 5,000 0 0 5,000 0 0 53,400 0 0 ,149,100 0 0 202,500 0 0 Cash in Bank of New Zealand . . .. .. .. .. ! .. 7 16 1 189 5 3 197 1 4 Totals .. .. .. .. .. I 53,407 16 1 |149,289 5 3 202,697 1 4 I I '

Loans - When redeemable - 1 " 18 I £ Per Cent. £ e. d. Westport Harbour Board Loan .. .. 200,000 1 15 February, 1945 .. 53,407 16 1 Westport Harbour Board Loan .. .. 500,000 1 1 January, 1949 .. 149,289 5 3 £700,000 .. .. £202,697 1 4