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,