A (1) 19
Interest in arrears on 31st December, 1926
$117,369.42
31st December, 1927
206,818.64
31st December, 1928
321,121.10
71
31st December, 1929
416,237.93
>>
13
31st December, 1930
398,641.94
11
31st December, 1931
307,152.89
13
31st December, 1932
209,087.15
31st December, 1933
195,714.76
Total number of Loans issued since 16th November, 1925...302
Less number redeemed in 1926.. 34
1927.. 85
1928.. 87
1929.. 29
12
1930.. 35
21
1931.. 13
11
1932.. 11
>>
1933... 1
71
+
295
7
Number of Loans outstanding on 31st December, 1933
PUBLIC DEBT.
21. The inscribed Stock Loans of 1893 and 1906 amounted to £1,485,733 and the Sinking Fund stood at £911,748 as against £832,751 at the end of 1932.
The Public Works 6% Loan (Ordinance No.14 of 1927) amounting to $4,927,000 was converted during the year. Bond holders were offered cash or conversion on a 4% basis for 20 years under the provisions of Ordinance No.15 of 1933. The sum of $4,838,000 was converted, leaving only $89,000 to be redeemed. Interest is payable half yearly on 1st February and 1st August and a sinking fund will be set up, the first instalment being paid on or before 31st July 1934.
NOTE CIRCULATION.
22. The local circulation of notes and specie in Reserve of the three banks having authorized issues were as follows at 31st December:
Notes in Circulation. Specie in Reserve. Hong Kong & Shanghai Banking Corporation $141,168,337 $123,000,000 Chartered Bank of India, Australia and China 14,950,262 1,465,119 Mercantile Bank of India. Ltd.... 8,300,000 1,350,000 Total........ $157,583,718 $132,650,000