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the 34% Dollar Loan raised in July, 1984. Bonds to the amount of $14,000,000 were issued at £9% producing $13,860,000. This Loan is redeemable by drawings at par in each of the twenty-five years commencing in 1935 at the annual rate of one twenty-fifth of such issue. During each of the years 1935, 1936 and 1937 $560,000 was so redeemed thus reducing the amount outstanding to $12,320,000. Ordinance No. 11 of 1934 governs this issue and authorizes the Governor to borrow up to a total of $25,000,000. The total public debt of the Colony on 31st December, 1937, amounted to $17,158,000.
7. The Assets and Liabilities of the Colony on the 31st December, 1937, are shown in the following statement:-
LIABILITIES. $ ASSETS. $ Deposits:- Contractors and Officers Deposits.. 447,749.26 Insurance Com- panies panies Advances:- Advances:- Miscellaneous Pending Re-im- Miscellaneous Pending Re-im- 220,148.51 bursements from 3½% dollar loan. 10,263,484.30 bursements from Pending Re-im- Miscellaneous De- bursements from posits 1,563,341.62 proposed new loan Building Loans 56,783.80 Building Loans 337,922.63 Imprest Account 1,339,709.71 + 9,420.17 Subsidiary Coin 120,625.00 House Service Account 31,007.47 Trade Loan Out- standing 295,493.00 Suspense Account. 84,285.42 Government House & City Develop- ment Fund 839,704.12 Unallocated Stores, (P.W.D.) 486,938.40 Unallocated Stores, (Railway) 121,552.45 Exchange Adjust- ment 23,934.78 Note Issue Account :- Current Trade Loan Reserve. 338,689.27 Account. $ 513,870.42 Fixed Deposit.. 3,000,000.00 3,513,870.42 3,513,870.42 Praya East Re- Nickel Coinage clamation 108,280.35 Account :- Current Account. $ 333,517.70 Sterling Investment Crown Agents- Account. 1,290,336.80 Coal Account 10,404.98 Overdraft 7,026.69 1,678,854.57 Cash Balance:- Note Security Fund.. 3,513,870.42 Accountant- General 1,547,810.91 Nickel Coinage *Joint Colonial 1,678,854.57 9,902,573.19 9,902,573.19 Total Liabilities.. 14,002,278.11 Excess of Assets over Liabilities 9,902,573.19 Total.........$ 23,904,851.30 Total........ 23,904,851.30 * Joint Colonial Fund £151,000 Os. Od. Fund 2,436,302.53 Fixed Deposits General...$ 1,050,000.00 Insurance Companies 1,563,341.62 Miscellaneous 118,018.07 2,731,359.69Page 51
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