B.—l [Pf. lII].

PUBLIC ACCOUNTS, 193 4-1935.

THE PUBLIC DEBT OF NEW ZEALAND. STATEMENT OF SECURITIES PAYABLE FROM THE CONSOLIDATED FUND AND OUTSTANDING ON 31st MARCH, 1935—continued.

;—^— —:I - y ! ._: . ■ ....... .I■ JJ a Sinking funds to the amount stated below exist for the extinction of that portion of the debt relating to the following accounts : State Coal-mines Account, £8 590 13s 8d • Electric Supply Account, £1,669 ss. 2d.; Westport Harbour Account, £276,899 12s. 9d.; Samoan Loan Suspense Account, Is. 7d.; State Advances Account— Advances to Settlers' Branch' £2 076 620 14s 5d • Advances to Workers Branch, £93,828 3s. lid.; Advances to Local Authorities Branch, £200,223 9s. Sd.: total, £2,657,83.2 Is. 2d. particulars of which appear on pages 12 and 13 ' ' In addition to the special sinking funds mentioned above, special provision exists for the repayment of that portion of the debt funded by agreement with the Imperial Government particulars of which are given on page 9. It is 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. ' ' By the Repayment of the Public Debt Act, 1925, means are provided whereby the whole of the Public Debt other than those portions for which separate sinking funds exist will be extinguished years from the tlme of 00min S under the Provisions of the Act. The total of loans coming within the provisions of the Repayment of the Public Debt Act, 1925, is x^Uo,oyy ,yoo 4s. 2d, The Redemption Fund Capital Account under the above Act is as follows : (1) Held by State Advances Office, £3,258,955 19s. 4d.; (2) held by Public Trustee £7 966 688 lis 2d ■ (3) held in Discharged Soldiers Settlement Account, £6,000,000; total, £17,225,644 10s. 6d. 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., i per cent, of the public debt coming under the provisions of the Act together with 3i per cent of the debt redeemed in accordance with the Act. ~ 2 r

8

Annual Charge. Domicile of Principal. Amount 7 -. , 7J1 j ! i outstanding. Date. o g ! Remarks. Interest. When payable. .New Zealand. 1 London. Australia. j &A\ | I , , £ s. d. % £ £ s. d. ! £ s. d. £ Brought forward .. 280,581,217 6 10 .. .. 11,460,955 .. 117,425,437 9 11 jl60,972,229 16 11 2,183,550 Amortization Charges. £ 1,546,280* Repayment of the .. j ... «Estimated. Public Debt Act, 1925 458,/ OOf Funded Debt .. .. .. .. f Represents principal repayment also suspended by agreement on qaa+ T?1 x • C , with Imperial Government. 20,800J Electric Supply .. .. .. j Payable from the Electric Supply O O Smk ™g Pund Account. Estimated. '500§ Coal-mines .. .. .. § Payable from the State Coal-mines Account. Estimated. 10,85911: Westport Harbour .. .. •• !| £3,859 sinking fund, 4} per cent. 9 aak iqq Sinking Fund payable in respect of sinking funds ' ' use( i f° r redemption; and £7,000 Total securities charged on 280,581,217 6 10 .. 13,506,094 .. 117,425,437 9 11 160,972,229 16 11 2,183,550 Westport*'HaJbour the -Public Kevenues 1 . * ljUdllOi Finance Act, 1931 (No. 4), Section 7, Subsection (2): — | j Deed of hypothecation over Dis- 3,850,000 0 0 U 3 115,500 30 Sept. and 31 Mar J 3,850,000 0 0 charged Soldiers Settlement SeCUritieS •• •• 200,00011 •• .. .. .. If Repayable £200,000 per annum or ninety days after demand. Total securities outstanding 284,431,217 6 10 .. .. 13,821,594 .. 121,275,437 9 11 160,972,229 16 1112 183 550 31st March, 1935 - '