Estimates-1952 — Page 104

64

Head 26-PUBLIC DEBT

Approved Estimate 1950-51

Estimate 1951-52

Sub-heads

$

$

$

$

1 4% Conversion Loan 1933 ($4,838,000)

193,520

Interest

193,520

Sinking fund

166,911

166,911

360,431

360,431

2 31% Dollar Loan 1934 ($14,000,000)

Interest

186,200

166,600

Redemption (1/25th)

560,000

560,000

746,200

726,600

3 31% Dollar Loan 1940 ($11,790,000)

Interest

131,000

124,000

Redemption (1/25th)

472,000

472,000

603,000

596,000

4 31% Rehabilitation Loan 1947/48 ($50,000,000)

Interest

Sinking fund

1,750,000

1,680,525

500,000

500,000

2,250,000

2,180,525

Interest and redemption of further issues under Re-

habilitation Loan Ordinance 1947

1,125,000

Total Expenditure

5,084,631

3,863,556

EXPLANATORY NOTES.

1.

2.

3.

4.

4% Conversion Loan 1933. The loan was raised in 1933 and is redeemable in 1953. Interest is payable annually on 1st February and 1st August. Contributions are made to a sinking fund at the rate of 3.45% per annum.

3% Dollar Loan 1934. The loan was raised in 1934 and is redeemable by 25 annual drawings not later than 30th June. Redemption is made annually on

Redemption is made annually on 15th July. Interest is payable annually on 15th January and 15th July. The amount outstanding on 31st March, 1951 was $5,040,000.

31% Dollar Loan 1940. The loan was raised in 1940 and is redeemable by 25 annual drawings not later than 30th June. Redemption is made annually on 15th July. Interest is payable annually on 15th January and 15th July. The amount outstanding on 31st March, 1951 was $7,074,000. No provision is made for interest on bonds held by the Hong Kong Government.

31% Rehabilitation Loan 1947/48. The loan was raised in 1947/48 and is redeemable in 1973/1978. Interest is payable annually on 15th January and 15th July. Contributions are made to a sinking fund at a rate not less than 1% per annum.

NOTE: All subheads are under the financial control of the Accountant General.