18
works. Stock outstanding £1,485,732
ngainst which there is Sinking Fund
£995,100 and assuming that Public Works
Loan Sinking Fund £133,000 and invested
surplus funds £114,000 were also used
net amount required would be £244,632
hich at 174d, equals 3,700,000
approximately. Tothis zust be added
21,000,000 for present loan works
making a total of, say, -25,000,000.
Loneys advanced from surplus balances
are estimated in 1934 estimates at
$11,000,000 by end of 1934 so that
minimum sup to be rois d in the
first place would be 14,700,000 while
maximum to be specified for tendering
is a matter for consideration end
actual amount issued would depend on
the results of tendere received.
J083
of interest through having considerable
surplus funds on deposit et rate lower
than 31% might well be counterbalanced
by