64
Head 26-PUBLIC DEBT
Approved Estimate 1950-51
Estimate 1951-52
Sub-heads
$
$
$
$
1 4% Conversion Loan 1933 ($4,838,000)
193,520
Interest
193,520
Sinking fund
166,911
166,911
360,431
360,431
2 31% Dollar Loan 1934 ($14,000,000)
Interest
186,200
166,600
Redemption (1/25th)
560,000
560,000
746,200
726,600
3 31% Dollar Loan 1940 ($11,790,000)
Interest
131,000
124,000
Redemption (1/25th)
472,000
472,000
603,000
596,000
4 31% Rehabilitation Loan 1947/48 ($50,000,000)
Interest
Sinking fund
1,750,000
1,680,525
500,000
500,000
2,250,000
2,180,525
Interest and redemption of further issues under Re-
habilitation Loan Ordinance 1947
1,125,000
Total Expenditure
5,084,631
3,863,556
EXPLANATORY NOTES.
1.
2.
3.
4.
4% Conversion Loan 1933. The loan was raised in 1933 and is redeemable in 1953. Interest is payable annually on 1st February and 1st August. Contributions are made to a sinking fund at the rate of 3.45% per annum.
3% Dollar Loan 1934. The loan was raised in 1934 and is redeemable by 25 annual drawings not later than 30th June. Redemption is made annually on
Redemption is made annually on 15th July. Interest is payable annually on 15th January and 15th July. The amount outstanding on 31st March, 1951 was $5,040,000.
31% Dollar Loan 1940. The loan was raised in 1940 and is redeemable by 25 annual drawings not later than 30th June. Redemption is made annually on 15th July. Interest is payable annually on 15th January and 15th July. The amount outstanding on 31st March, 1951 was $7,074,000. No provision is made for interest on bonds held by the Hong Kong Government.
31% Rehabilitation Loan 1947/48. The loan was raised in 1947/48 and is redeemable in 1973/1978. Interest is payable annually on 15th January and 15th July. Contributions are made to a sinking fund at a rate not less than 1% per annum.
NOTE: All subheads are under the financial control of the Accountant General.