CO129-543-12 Loans for public work 29-3-1933 - 20-12-1933 — Page 19

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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