B.—lB

1887. NEW ZEALAND.

SINKING FUNDS.

REPORT AND ACCOUNTS OP THE COMMISSIONERS OP THE PUBLIC DEBTS SINKING FUNDS FOR THE YEAR ENDED 31st MARCH, 1887.

Presented to both Houses of the General Assembly in compliance with the 6th Section of " The Public Debts Sinking Funds Act, 1868."

Sic,— Government Buildings, Wellington, 9th May, 1887. I have the honour to transmit to you, to lay before Parliament, the report and accounts of the Commissioners of the Public Debts Sinking Funds for the year ending the 31st March, 1887. I have, &c, James Edward FitzGebald, The Hon. the Speaker of the Chairman of the Commissioners of the House of Eepresentatives. Public Debts Sinking Fund.

REPORT. Government Buildings, Wellington, 9th May, 1887. The Commissioners of the Public Debts Sinking Funds have the honour to lay before Parliament their report and accounts for the year ended the 31st March, 1887. The Commissioners have no remarks to make with respect to the transactions of the past year except to report that, under " The Consolidated Stock Act, 1884," they released and paid into the Public Account the sum of £10,501 17s. 9d., being the amount of sinking fund accrued for the redemption of debentures issued, under "The Wellington Loan Act, 1886," the Treasury having reported to the Commissioners that the whole of the debentures issued under that Act had either been converted or redeemed. In accordance with the provisions of section 9 of " The Consolidated Stock Act, 1884," the sum so set free has been applied as follows : To the extinction of debentures created on account of increases of the sinking fund of the loan, £2,190; the balance, £8,311, has been carried into the Public Works Fund. There remained at the end of the year in the hands of the Commissioners a small balance of £42 15s. 7d. belonging to the same loan, which will be paid to the Public Works Fund also. James Edwaed FitzGebald, Chairman of the Commissioners of the Public Debts Sinking Funds. I—B. 18.