A (2) 5
TRADE LOAN ACCOUNT.
(Paras. 52/6–1930 Report.)
25. This account is now incorporated in the main Treasury Accounts and no separate statements have been submitted but summary of the transactions to date is included in the Treasurer's report (paragraphs 20/22). A reconciliation between the Assets and Liabilities Statements of 1930 and 1931 is attached for reference (Enclosure "J").
26. In three instances it was considered advisable for the Government to exercise its power of sale and though in each case the principal sum was recovered recourse had to be made to the general authority of the Secretary of State to write off the outstanding interest. In one further instance a balance of $600 of the Principal sum had to be written off.
27. Under the general authority there was written off during the year
Principal Interest &c.
$600 $37,138.38
At the close of the year Loans Outstanding stood at $1,232,579.76 and the Reserve at $1,045,389.41.
The securities on outstanding loans have been inspected.
28. A further $51,629.66 in respect of Interest charged has since (in 1932) been written off on account of a redemption in 1931, where it was considered advisable to accept terms offered by private treaty.
PRAYA EAST RECLAMATION-$142,642.33.
(Paras. 57/8-1930 Report.)
29. The accounts of this work having been incorporated in the main Treasury Account in January 1931 this amount now represents the estimated cost of the uncompleted work for which the Government has accepted liability.
COAL ACCOUNT $2,672.68.
(Paras. 29/30-1930 Report.)
30. The settlement of the discrepancy referred to has already been reported to you. This year's liability represents outstanding accounts due to the Contractors less the value of the stock of coal actually on hand on 31st December 1931.
ADVANCES.
ON ACCOUNT OF FUTURE LOAN-$3,484,014.01. (Para. 22-1930 Report.)