PUBLIC ACCOUNTS FOR THE FINANCIAL YEAR 1944-1945 PART III PREPARED BY THE TREASURY DEPARTMENT CERTIFIED TO BY THE CONTROLLER AND AUDITOR-GENERAL ALSO STATEMENT SHOWING THE PUBLIC DEBT OF THE DOMINION AS ON THE 31ST MARCH, 1945

Appendix to the Journals of the House of Representatives, 1945 Session I, B-01-part03

B.—l [PT. Ill]

1945 NEW ZEALAND

PUBLIC ACCOUNTS FOR THE FINANCIAL YEAR 1944-1945 PART III PREPARED BY THE TREASURY DEPARTMENT CERTIFIED TO BY THE CONTROLLER AND AUDITOR-GENERAL ALSO STATEMENT SHOWING THE PUBLIC DEBT OF THE DOMINION AS ON THE 31ST MARCH, 1945

CONTENTS PAGE TABLE I.—THE PUBLIC DEBT OF NEW ZEALAND OUTSTANDING ON 31st MARCH, 1945 .. 2 TABLE lI.—STATEMENT OE ADVANCES BY THE RESERVE BANK TO THE GOVERNMENT BY WAY OE OVERDRAFT OUTSTANDING ON 31ST MARCH, 1945 .. .. 6 TABLE lII.—STATEMENT OE TRANSACTIONS IN CONNECTION WITH THE PUBLIC DEBT IN THE YEAR ENDED 31st MARCH, 1945 .. .. .. .. .. 7 TABLE IV.—STATEMENT OE RECEIPTS AND DISBURSEMENTS OE THE SINKING FUNDS DURING THE FINANCIAL YEAR ENDED 31ST MARCH, 1945 .. .. .. 8 TABLE V—STATEMENT OF LOANS GUARANTEED BY THE GOVERNMENT .. .. 10

This publication is one of a series of four statements dealing with the Public Accounts as under:— 8.-l [Pt. I]. —Abstract of the Public Accounts and Supplementary Statements. 8.-l [Pt. ll]. —Report of Controller and Auditor-General and Details of Revenue and Expenditure. 8.-l [Pt. lII]. —Statement of the Public Debt and Transactions in connection therewith. 8.-l [Pt. IV]. —Balance-sheets of various Government Departments.

I—B. 1 [PT. Ill].

B.—l [Pt. 11l

PUBLIC ACCOUNTS, 1944-1946

THE PUBLIC DEBT OF NEW ZEALAND TABLE I.—STATEMENT OF SECURITIES CHARGED ON THE PUBLIC REVENUES OF NEW ZEALAND AND OUTSTANDING ON 31st MARCH, 1945

2

Domicile of Principal. j Interest Charge. Amoont, in New Zealand Cnrrency. London Debt, in Date. i S ! Interest in | Remarks. _ Sterling « Sew Zealand When payable. New Zealand. Australia. London. ©terung. Currency. j New Zealand Loans Act, £ s. d. £ £ s. d. £ s. d. o/ £ 1932— /o Debentures and Stock .. l(i,78o 0 0.. .. .. Various .... .. .. Unpresented or subject to conversion under New Zealand Debt Conversion Act. I Feb., 1943 .. .. .. Option to repay £13,511,125 6s. 5d. maturing 1st February, 1963. 2,500 0 0 .. 12,071,600 1 4 9,657,280 1 1 1 April, 1945 3 362,223 1 April and 1 Oct. | 2,144,910 0 0 .. .. 15 July, 1945 3 64,348 15 Jan. „ 15 July 2,613,636 ' 2 2,090,909 1 9 1 Dec., 1945* 4£ 117,614f 1 June „ 1 Dec. 'Repayable at the option of the Go16,107,637 14 8 12,886,110 3 9 1 Jan., 1946 5 805,381 1 Jan. „ 1 July vernmentonorafterlstDecember, 1925, by giving three months' notice in the London Gazette.. •[Interest suspended in terms of agreement with Imperial Government. 389,712 10 0 .. .. 1 April, 1946 J 4 15,589 1 April ,, 1 Oct. {Repayable at option of the holders on fourteen days notice. 15 April, 1946 .. .. .. Option to repay £8,932,550 maturing 15th April, 1949. 3,313,470 0 0.. .. .. 1 Aug., 1946 2J 82,837 1 Feb. and 1 Aug. 15 Sept., 1946 .. .. .. Option to repay £6,757,490 maturing 15th September. 1948. 400,000 0 0.. .. - 1 April, 1947 2£ 10,000 1 April and 1 Oct. 15 June, 1947 .. .. .. Option to repay £7,698,655 maturing 15th June, 1949. j 4,781, 600 0 0.. .. .. 15 Sept., 1947 2J 119,540 15 Mar. and 15 Sept. | 2,138,600 0 0.. .. .. 15 Sept., 1947 4 85.544 15 Mar. ,, 15 Sept. | 1,110,800 0 0 82,300 150,000 0 0 120,000 0 0 15 Sept., 1947 5 67. ]55 15 Mar. „ 15 Sept. 14,027,011 0 6 11,221,608 16 5 1 Nov., 1947 4£ 631,215 1 May „ 1 Nov. 1 Mar., 1948 .. .. .. Option to repay £24,031,831 5s. maturing 1st March, 1958. 9,770,245 0 0.. .. .. 15 May, 1948 2} 244,256 15 May and 15 Nov. 6,757,490 0 0.. .. .. 15 Sept., 1948§ 3 202,725 15 Mar. „ 15 Sept. gRepayable at option of Government at par on or after 15th September, 1946, on three months' notice. 4,989,990 0 0.. .. .. 30 Nov.. 1948 4 199,600 31 May „ 30 Nov. 1 Feb., 1949 .. .. .. Option to repay £9,153,223 15s. maturing 1st February, 1954. 15 Feb., 1949 .. .. .. Option to repay £11,795,475 maturing 15th February, 1950. 8,932,550 0 0.. .. .. 15 April, 1949j| 4 357,302 15 April and 15 Oct. JjRepayable at the option of the Government at par on or after 15th April, 1946, on three months' notice. 15 April, 1949 .. .. .. Option to repay £5,701,605 maturing 15th April, 1951. 15 May, 1949 .. .. .. Option to repay £12,484,105 maturing 15th May, 1952. /,698, 655 0 0 .. .. .. 15 June, 2£ 192,466 15 June and 15 Dec. at the option of the Government at par on or after 15th June, 1947, on three months' 1 notice. Carried forward .. 52,447,307 10 0 82,300 44,969,885 3 8 35,975,908 3 0 3,557,795

THE PUBLIC DEBT OF NEW ZEALAND TABLE In—STATEMENT OF SECURITIES CHARGED ON THE PUBLIC REVENUES OF NEW ZEALAND AND OUTSTANDING ON 31st MARCH, 1945-continued

B.—l IPt. ill

PUBLIC ACCOUNTS, 1944-1945

3

Domicile of Principal. Interest Charge. Amount, in New Zealand Currency. ; Interest in ! Remarks. lo ndon Debt, m _g New Zealand ] when payab ie. ovcruiig. c3 fliirrpnrv New Zealand. Australia. London. £ s. d. £ £ s. d. £ s. d. % £ Brought forward .. 52,447,307 10 0 82,300 44,969,885 3 8 35,975,908 3 0 3,557,795 New Zf.at.and Loans Act, 1932 —continued Debentures and Stock —contd. 312,009 10 0 .. .. 15 Sept., 1949 2% * .. *Interest payable at maturity. 9,375,000 0 0 7,500,000 0 0 15 Dec., 1949 5 468,750 15 June and 15 Dec. 11,795,475 0 0.. .. .. 15 Feb., 1950f -i 294,887 15 Feb. „ 15 Aug. fRepayable at the option of the Government at par on or after 15th February. 1949, on three months' notice. 250,000 0 0 | .. .. 15 Dec., 1950 8,750 15 June „ 15 Dec. 779,000 ! 1,562,500 0 0 1,250,000 0 0 1 Feb.. 1951 5J 128,783 1 Feb. „ 1 Aug. 5,701,605 0 0 .. .. .. 15 April, 1951 % 142,540 15 April „ 15 Oct. {Repayable at the option of the Government at par on or after 15th April, 1949, on three months' notice. II Aug., 1951 .. .. .. Option to repay £6,535,960 maturing 1st August. 1954. 12,484,105 0 0.. .. .. 15 May, 1952§ 4 499,364 15 May and 15 Nov. §Repayable at the option of the Government at par on or after 15th May, 1949, on three months' notice. 15 June, 1952 .. .. . . Option to repay £9,338,440 maturing 15th June, 1955. 1 July, 1952 .. .. .. Option to repay £15,000,000 maturing 1st July, 1955. j 15 Sept., 1952 .. .. .. Option to repay £10,034,260 maturing 15th September, 1955. .. .. .. 15 Jan., 1953 .. .. .. Option to repay £12,453,209 12s. 4d. maturing 15th January, 1957. 15 May, 1953 . . .. .. Option to repay £7,478,595 maturing loth May, 1956. 9,787,045 14 2 .. .. .. ! 1 Oct., 1953 2Jil 244,676 1 April and 1 Oct. jjThis stock was non-interest bearing to 1st October, 1943. Thereafter 2 per cent, per annum will | be paid to 1st October, 1953. ! 15 Dec., 1953 .. .. .. Option to repay £17,926,635 maturing 15th December, 1956. 9,153,223 15 0 7,322,579 0 0: 1 Feb., 320,363 1 Feb. and 1 Aug. •[[Repayable at the option of the Government at par on or after 1st February, 1949, on three months' notice. 31 May, 1954 .. .. .. Option to repay £5,532,960 maturing 31st May, 1958. 6,535,960 0 0.. ."i .. 1 Aug., 1954** 3 196,079 1 Feb. and 1 Aug. ** Repay able at the option of the Government at par on or after 1st August, 1951, on three months' notice. Carried forward .. 99,313,507 14 2 861,300 65,060,608 18 8 52,048,487 3 0 5,861,987

B.—l [Pt. Ill]

PUBLIC ACCOUNTS, 1 944-1945

THE PUBLIC DEBT OF NEW ZEALAND TABLE I.—STATEMENT OF SECURITIES CHARGED ON THE PUBLIC REVENUES OF NEW ZEALAND AND OUTSTANDING ON 31st MARCH, 1945—continued

4

Domicile of Principal. Interest Charge. Amount, in New Zealand Currency. interest in i Remarks. London Debt, in aJate - .3 interest in j i Steilin". ° New Zealand When payable. New Zealand. j Australia, j London. ° p3 Currency. £ s. d. £ £ s. d. £ s. d. % £ Brought forward .. 99,313,507 14 2 861,300 65,060,608 18 8 52,048,487 3 0 ' 5,861,987 New Zealand Loans Act, 1932 —continued Debentures and Stock —contd. .. .. .. .. 15 Feb., 1955 .. .. .. Option to repay £21,062,690 maturing 15th February, 1958. 9,338,440 0 0.. .. .. 15 June, 1955* 4 373,538 15 June and 15 Dec. *Repavable at the option of the Government at par on or after 15th June, 1952, on three months' notice. 15,000,000 0 0 12,000,000 0 0 1 July, 1955j 3 450,000 1 Jan. ,, 1 July tRepayable at the option of the Government at par on or after 1st July, 1952, on three months' notice. 10,034,260 0 0.. .. .. | 15Sept., 1955J 3 301,028 15 Mar. ,, 15 Sept. {Repayable at the option of the Government at par on or after 15th September, 1952, on three months' notice. 15 Oct , 1955 .. .. .. Option to repay £7,889,598 15s. maturing 15th October, 1960. 15 Jan., 1956 .. .. .. Option to repay £6.275,680 maturing 15th January, 1959. 7,478,595 0 0.. .. .. 15 May, 1956§ 3 224,358 15 May and 15 Nov, §Repayab!e at the option of the Government at par on or after 15th May, 1953, on three months' notice. 1 Nov., 1956 .. .. .. Option to repay £6,250,000 maturing 1st November, 1971. 17,926,635 0 0.. .. .. 15 Dec., 1956|| 3 537,799 15 June and 15 Dec. |j Repayable at the option of the Government at par on or after 15th December, 1953, on three months' notice. 12,453,209 12 4 .. .. 15 Jan., 3| 435,862 15 Jan. ,, 15 July at the option of the Government at par on or after 15th January, 1953, on three months' notice. 5,350,000 0 0.. .. .. 15 July. 1957 133,750 15 Jan. „ 15 Julv 42,670,932 14 0 .. .. 15 Aug., 1957 2J 1,066,773 15 Feb. and 15 Aug. 26,872,545 0 0.. .. .. 15 Aug.. 1957 3 806,176 15 Feb. „ 15 Aug. 19,255,000 0 0.. .. .. 15 Sept., 1957 3 577,650 15 Mar. „ 15 Sept. 15 Sept., 1957 .. .. .. Option to repay £14,476,440 maturing 15th September, 1960. 16,438,000 0 0 .. .. .. 15 Oct., 1957 2-b 410,950 15 April and 15 Oct. 21,062,690 0 0.. .. .. 15 Feb., 1958** 3 631,881 15 Feb. „ 15 Aug. **Repayable at the option of the Government at par on or after 15th February, 1955, on three months' notice. Carried forward .. 288,193,815 0 6 861,300 80,060.608 18 8 64.048,487 3 0 11,811.752 _ _ _ _

THE PUBLIC DEBT OF NEW ZEALAND TABLE I—STATEMENT OF SECURITIES CHARGED ON THE PUBLIC REVENUES OF NEW ZEALAND AND OUTSTANDING ON 31st MARCH, 1945—continued

13. —1 [PT. Ill]

PUBLIC ACCOUNTS, 1944-1945

5

Domicile of Principal. Interest Charge. Amount, in Isew Zealand Currenov. ! Due T? om .,rL-c I Tnnri/-»n Tiahf Date. «• Interest in Kemarks. Sterling « New Zealand When payable. New Zealand. Australia. London. c * Ph Currency. ™ -r, £ s. d. £ £ g. d. £ s d °/ $ Brought forward .. 288,193,815 0 6 861.300 80.060,608 18 8 64.048 487 3 6 11 81l"~752 J\ew Zealand Loans Act, 1932 —continued Debentures and Stock cont. .. .. 24,031,831 5 0 19,225,465 0 0 1 Mar., 1958* 4| 1,081,432 1 Mar. and 1 Sept. * Repayable at the option of the Government at par on or after 1st March, 1948, on three months' notice. 5,532,960 0 0.. .. _ 31 May, 1958+ 4 221, 31S 31 May „ 30 Nov. fRepayable at the option of the Government at par on or after 31st May, 1954, on three months' ! notice. orJS'SSS 2 0 *• ! 15 Nov., 1958 3 132,000 15 May ,. 15 Nov. x lil'lcZ L " •• 115 Dec.. 1958 3 772,121 15 June „ 15 Dec. o,«75,680 0 0.. .. | 15 j an>5 1959 j 3{ 203,960 15 Jan. „ 15 July J Repayable at the option of the Government at par at any time on or after the 15th January. 1956, on three months' notice. 1 Mar.. 1960 .. .. .. Option to repay £9,174,570 maturing 1st March, 1964. 15 April, 1960 .. .. .. Option to repay £9,738,745 matur- ! ing 15th April, 1963. 264,950 0 0 .. .. .. 22 May, 1960 3£ 9,273 22 May and 22 Nov. 14,476,440 0 0.. .. _ 15 Sept., 1960§ 3] 470,484 15 Mar. „ 15 Sept. §Repayable at the option of the Government at par on or after 15th September, 1957, on three months' notice. 7 ; 889,598 15 0 6,311,679 0 0 15 Oct., 1960 34 276,136 15 April „ 15 Oct. jjRepayable at the option of the Government at par on or after 15th October, 1955, on three months' notice. 1 Sept., 1962 .. .. .. Option to repay £9,476,133 15s. j maturing 1st September, 1965. o7o,638 14 4 .. 13,132,486 12 1 10,505,989 5 8 1 Feb., 1963*j 4 540,445 1 Feb. and 1 Aug. | at the option of the Government at par on or after | 1st February, 1943, on three a too _ _ months notice. y,7do,74o 0 0.. .. .. 15 April, 1963** 3 292,162 15 April „ 15 Oct. **Repayable at the option of the Government at par on or after 15th April, 1960, on three months' notice. 9,174,570 0 0 7,339,656 0 0 1 Mar., 1964ft H 321,110 1 Mar. „ 1 Sept. ffRepayable at the option of the Government at par on or after 1st March, 1960, on three months' notice. 9,476,133 15 0 7,580,907 0 0 1 Sept., 1965i{ 3| 307,974 1 Mar. „ 1 Sept. JJRepayable at the option of the Government at par on or after 1st September, 1962, on three r-i • i r , rr7~T7TT~rri ~ ~ ~ months' notice. Gamed forward .. 354,998,587 2 4 861,300 143,765,229 5 9 115,012,183 8 8 16,440,167

B.—l |Pt. 11l

PU B LIC ACCOUNTS, 1944- 1 9 4 5

THE PUBLIC DEBT OF NEW ZEALAND TABLE I.—STATEMENT OF SECURITIES CHARGED ON THE PUBLIC REVENUES OF NEW ZEALAND AND OUTSTANDING ON 31st MARCH, 1945—continued

By the Repayment of the Public Debt Act, 1925, means are provided whereby the whole of the public debt other than that raised for State Advances purposes and those portions for which special statutory provision has been made will be extinguished in approximately sixty years from the time of coming under the provisions of the Act. The total of loans coming within the provisions of the Repayment of the Public Debt Act, 1925, is £516,100,618 18s. Bd. The Public Debt Redemption Fund Capital Account established under this Act comprises investments of sinking funds accumulated under former legislation and now invested with the State Advances Corporation £3,250,000 and the Public Trustee £7,966,688 lis. 2d. : total £11,216,688 lis. 2d. The interest on the Redemption Fund capital is paid over to the Consolidated Fund as a set-off against the annual payments made by the latter fund to the Repayment of the Public Debt Account— viz., £ per cent, of the public debt coming under the provisions of the Act, together with an additional 4 per cent, of the debt redeemed in accordance with the Act. In addition, special provision exists for the repayment of that portion of the debt funded by agreement with the Imperial Government. Particulars were published in R.-l [Pt. Ill] for the year ended 31st March, 1941, and previous years. Details have not changed since 1932. It was estimated that this portion of the debt would under the original agreement be extinguished during the financial year ending on the 31st March, 1958. Payments have been suspended by arrangement with the Imperial Government. Section 6 of the Hutt Road Act, 1939, provides that the Wellington City Council shall be kept indemnified out of the Main Highways Account from all liability in respect of loans specified in the First Schedule of the Act totalling £276,020. At 31st March, 1945, £189,148 15s. 4d. was outstanding, against %vhieh the Public Trustee held sinking funds totalling £123,671 Is. 6d.

TABLE II.—ADVANCES BY THE RESERVE BANK TO THE GOVERNMENT BY WAY OF OVERDRAFT OUTSTANDING ON 31st MARCH, 1945

6

Domicile of Principal. Interest Charge. Amount, in New Zealand Currency. Date. . Interest in Remarks. -t , Sterling. § New Zealand When payable. New Zealand. ! Australia, i London. P3 Currency. __ I 1 ! £ s. d. £ £ s. d. i £ s. d. % £ Brought forward .. 354,908,587 2 4 861,300 143,765.229 5 9 115,012.183 8 8 16,440,167 New Zealand Loans Act, continued Debentures and Stock —contd. . . .. 6,250,000 0 0 5,000,000 0 0 1 Nov., 1971* 5 312.500 1 Mav and 1 Nov. *Repayable at the option of the Government at par on or after 1st November, 1956, on three months' notice. 1,275,545 18 4 .. .. Variousf .. Free .. .. tThe currency of the major portion of this loan is for the duration of the war and six months thereafter. Funding Agreement with Im- .. .. 30,125,249 8 3 24,100,199 10 71 .. .. l,491,538>j 1 June and 1 Dec. JBalance of £27,532,164, Imperial perial Government Government advances, funded in Memorandum of Security .. -• 18,962,500 0 0 15,170,000 0 0 15 Aug., 1965 3 568,875 15 April ,, 15 Oct. terms of section 8, Finance Act, Treasury bills .. .. 5,000,000 0 0 .. Various .. 1 50,000 .. 1922. Details of original loan as 42,000,000 0 0 .. .. .. „ .. 1J 630,000 .. funded shown in B.-l jPt. II], Total securities charged 1921-22. on the Public Revenues i suspended in terms of and outstanding at — — agreement with Imperial Govern31st March, 1945 .. 403,274,133 0 8 861.300 199,102,978 14 0 159,282,382 19 3 19,493,080 ment. £603,238,411 14 8

Authority for Advances. Particulars of Advances. Account. Amount. £ s. d. Marketing Act, 1936, section 10 .. .. .. .. Advances in respect of dairy-produce purchased for export and sale Dairy Industry Account .. .. 1,210,689 10 5 Marketing Amendment Act, 1939, section 5 .. .. Advances in respect of sundry products purchased for export and Sundry Products Account .. .. 5,386 17 6 sale Total advances as at 31st March, 1945 .. .. .. .. .. . . . . .. .. . . .. .. .. .. £1,216,076 7 11

B.—l [PT. 11l

PUBLIC ACCOUNTS, 1944-1945

TABLE III.—TRANSACTIONS IN CONNECTION WITH THE PUBLIC DEBT IN THE YEAR ENDED 31st MARCH, 1945

Details of above External debt— 1. London— Increases £ 8. d. New issues for War Expenses Account .. .. .. .. .. 8,480,000 0 0 Decreases — Redemptions from— £ s. d. Public Debt Repayment Account .. .. 1,734,500 0 0 Loans Redemption Account .. .. .. 6,250,000 14 10 Premiums received on conversion . . .. .. 27,930 0 0 Sinking Fund— Westport Harbour .. .. .. 249,375 0 0 8,261,805 14 10 Increase .. .. .. .. .. .. 218,194 5 2 2. Australia — Decrease —Domicile changed to New Zealand .. .. .. .. .. 1,000 0 0 Internal debt— 3. Long-term debt— Increases — New issues for oapital works— £ s. d. National Development Loans Account .. .. 11,148,000 0 0 New issues: War Expenses Account .. .. 45,938,343 1 0 Issues in renewal and conversion of floating dobt 5,250,000 0 0 Premiums on conversion of internal debt .. .. 210,365 0 0 Domicile changed from Australia .. 1,000 0 0 62,547,701 1 0 DecreasesRedemption from— Public Debt Repayment Account .. .. 2,239,288 15 0 Sinking Fund— Samoan Loans .. .. 3 3 5 Loans Redemption Account .. .. 15,166,216 0 5 17,405,507 18 10 Increase .. .. .. .. .. £45,142,200 22 4. Floating debt — Decreases — £ s. d. Redemptions from Loans Redemption Aocount .. .. 3,365,000 0 0 Renewals and conversions to long-term internal debt .. 5,250,000 0 0 8,615,000 0 0 Deorease .. .. .. .. .. .. £8,615,000 0 0 Notes. —(1) For details of redemptions from Public Debt Repayment Account—see parliamentary paper 8.-2. (2) The following amounts were transferred from National Development Loans Account during 1944-4.") —Post Office Account, £150 000; Electric Supply Account, £2,720,000: Main Highways Account, £00,000; Public Works Account, £0,015,000; State Coal Minos Account, £700,000 ; State Forests Account. £270,000; anil Working Hallways Account £343,000, leaving a balance in the account at 3lst March, 1945, of £15,000.

7

Outstanding 31st March, Outstanding 31st. March, , . 1044 (New Zealand ! 1945 (New Zealand + tIITtA,' Currency*. Currency), uecreasu External debt— £ s. d. £ s. d. S a. d. London .. .. .. .. .. 198,884,784 8 10 199,102,978 14 0 + 218,194 5 2 Australia .. .. .. .. .. 862,300 0 0 861,300 0 0 - 1,000 0 0 Internal debt— Long-term debt .. .. .. .. 311,131,932 18 6 356,274,133 0 8 +45,142,200 2 2 Floating debt .. .. .. .. 55,615,000 0 0 47,000,000 0 0 - 8,615,000 0 0 566,494,017 7 4 603,238,411 14 8 +36,744,394 7 4

B.—l [Pt. Ill]

PUBLIC ACCOUNTS, 19 44-1945

TABLE IV. STATEMENT of the RECEIPTS and DISBURSEMENTS of the SINKING FUNDS during the FINANCIAL YEAR ended 31st March, 1945

8

RECEIPTS. £ g . d. DISBURSEMENTS. J £ s> d SAMOAN LOAN SINKING FUNDSAMOAN LOAN SINKING FUND :— Accumulation held on 31st March, 1944,— , Loans redeemed in terms of section 4 of the Finance Act, 1932 (No 2)* i In Deposits Account, feamoan Loan Sinking Fund Account .... 3 3 5 ' 1 ' 335 i — ELECTRIC SUPPLY SINKING FUND :— Note. —This Sinking Fund was abolished by section 9 of the Finance Act, 1944 (No. 2). Future repayments being dealt with under that section through Loans Redemption Account. WESTPORT HARBOUR LOANS SINKING FUND:— WESTPORT HARBOUR LOANS SINKING FUND — Finance Act, 1928, section 13 Finance Act, 1928, section 13— Accumulated funds as at 31st March, 1944 .. .. .. .. 241,691 10 10 Securities redeemed* Premium on sale of investments 377 5 0 Annual fee for administering fund 'If ?, 2 Interest on Investments 7,658 2 4 Surplus transferred to Loans Redemption Account .'! !! " 326 18 8 249,726 18 8 ~ £249,726 18 8 * Being balance ot Samoan loans now completely liquidated. t Being balance of Westport Harbour loans now completely liquidated. "

B.—l [I't. Ill]

PUBLIC ACCOUNTS, 1944-1945

TABLE V—LOANS GUARANTEED BY THE GOVERNMENT Contingent Liability outstanding on 31st March, 1945

B. C. Ashwin, Secretary to the Treasury. C. J. Atkin, Accountant to the Treasury. The Treasury, Wellington, 23rd July, 1945.

Approximate Cost of Paper.—Preparation, not given; printing (592 copies), £27.

By Authority: E. Y. Paul, Government Printer, Wellington.

Examined and found correct. Cyril G. Collins, Controller and Auditor General. Audit Office, Wellington, 24th July, 1945.

Price 6d .]

2—B. 1 [PT. 11l

9

*R * rn m t I Accumulated Loans guaranteed. : Authority fob Government Guarantee. , Due Date. 1 Sinking Remakes. Int. I S.F. Ft7Nr> - LOANS OP LOCAL AUTHORITIES £ £ % o/ o £ s d Havelock North Town Board .. .. Local Bodies' Loans Act, 1913, Part IV .. \ 21 075 $ ' u Jy> 17,097 5 3 „ _ , „ \ 1,650 / \ X July, 1948 5 1J 1,498 6 0 ie .fuke Borough Council .. .. .. Local Bodies' Loans Act, 1913, Part IV .. .. 11,000 1 Jan., 1948 4\ 1J 9,443 15 11 Oamaru Harbour Board .. .. .. Finance Act, 1937, see. 42 .. .. ... 63,992 1 April, 1952 4 Nil ' .. Repayable by half-yearly instalments. Total Local Authorities Loans .. 96,067 STATE ADVANCES CORPORATION STOCK AND DEBENTURES Special Series .. .. .. .. State Advances Corporation Act, 1936, sec. 25 | .. 7,744,850 1 Aug., 1960 j 3-| .. .. „ | 6,500,000 1 Aug., 1963 j 3# •••••••• „ j 6,500,000 1 Aug., 1966 I 3# .. •••••••• „ 1 6,500,000 1 Aug., 1969 3| •••••••• „ i 6,500,000 1 Aug., 1972 3f .. ........ „ i 6,500,000 1 Aug., 1975 3| .. .. .. „ ........ „ ! .. 7,000,000 1 Aug., 1978 3# Series 'A" ........ „ j 477,740 1 Sept., 1955-60 ; 3} .. .. j Total State Advances Corporation Loans i 47,722,590 i