A (2) 13
H.
LOAN ACCOUNTS,
71. Public Debt.
The Public Debt of the Colony, as at the 31st December, 1939, amounted to $16,038,000.
72. Sinking Fund. 4% Conversion Loan,
The 4% Conversion Bonds, issued under Ordinance No. 15 of 1933, amounted to $4,838,000 while the market value of the investments of the accumulated Sinking Fund at the end of the year 1939 was £75,567-2-7.
73.
The Sinking Fund account maintained locally has been checked with the statements rendered by the Crown Agents.
74. Hong Kong 3½% Dollar Loan.
The amount outstanding on account of the Hong Kong 3½% Dollar Loan, raised under Ordinance No. 11 of 1934, was reduced during the year from $11,760,000 to $11,200,000, Bonds to the value of $560,000 having been redeemed in accordance with Section 5 of the Ordinance. The cancelled bonds and interest coupons which had been redeemed were checked by the Audit Department, while the interest paid to Bond-holders was supported by the surrendered coupons which were submitted for Audit.
I.
STATEMENT OF ASSETS AND LIABILITIES.
75. The excess of Assets over Liabilities at the 31st of December, 1938, was $13,562,234.97 while that at the end of 1939 was $17,091,170.73, showing an increase of $3,528,935.76.
ASSETS.
76.
Cash--Current Account No. 1-$1,137,216.16.
The composition of the above is as follows:-
Bank $1,095,115.37 Cash Balances :- Accountant-General's Office 38,171.70 Kowloon-Canton Railway 3,317.70 Medical Department 586.50 Registrar, Supreme Court 24.89 Total $1,137,216.1677. Verification of Cash Balances, etc.
(a) Bank Certificates have been produced in support of the balances of the various Bank accounts, and with the exception of the last three items shown above, the existence of the cash balances on the 31st December, 1939, was verified by Boards of Survey whose certificates were seen. With regard to the three exceptions, cash certificates, signed by the Heads of Departments concerned, were submitted for inspection. In addition, the Cash Balance of the Kowloon-Canton Railway, which included the balance shown above, plus the cash takings of the 31st December, 1939, and those of the 1st January, 1940, was surveyed by a Board on the 2nd of January, 1940.
A (2) 13
H.
LOAN ACCOUNTS,
71. Public Debt.
The Public Debt of the Colony, as at the 31st December, 1939, amounted to $16,038,000.
72. Sinking Fund. 4% Conversion Loan,
The 4% Conversion Bonds, issued under Ordinance No. 15 of 1933, amounted to $4,838,000 while the market value of the investments of the accumulated Sink- ing Fund at the end of the year 1939 was £75,567-2-7.
73.
The Sinking Fund account maintained locally has been checked with the statements rendered by the Crown Agents.
74. Hong Kong 31% Dollar Loan.
The amount outstanding on account of the Hong Kong 31% Dollar Loan, raised under Ordinance No. 11 of 1934, was reduced during the year from $11,760,000 to $11,200,000, Bonds to the value of $560,000 having been redeemed in accordance with Section 5 of the Ordinance. The cancelled bonds and interest coupons which had been redeemed were checked by the Audit Department, while the interest paid to Bond-holders was supported by the surrendered coupons which were submitted for Audit.
I.
STATEMENT OF ASSETS AND LIABILITIES.
75. The excess of Assets over Liabilities at the 31st of
December, 1938, was
While that at the end of 1939 was
Showing an increase of
$13,562,234,97 $17,091,170.73
$ 3,528,935.76
ASSETS.
76.
Cash--Current Account No. 1-$1.137,216.16.
The composition of the above is as follows:-
Bank
Cash Balances :-
$1,095,115.37
38,171.70 3,317.70 586.50
77.
Accountant-General's Office.
Kowloon-Canton Railway
Medical Department Registrar, Supreme Court
Total
Verification of Cash Balances, etc.
24.89
$1,137,216.16
(a) Bank Certificates have been produced in support of the balances of the various Bank accounts, and with the exception of the last three items shown above, the existence of the cash balances on the 31st December, 1939, was verified by Boards of Survey whose certi- ficates were seen. With regard to the three exceptions, cash certificates, signed by the Heads of Departments concerned, were submitted for inspection. In addition the Cash Balance of the Kowloon-Canton Railway which included the balance shown above, plus the cash takings of the 31st December, 1939 and those of the 1st January, 1940, was surveyed by a Board on the 2nd of January, 1940.
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