Estimates-1953 — Page 73

Head 26-PUBLIC DEBT

73

Approved Estimate 1951-52

Sub-heads

$

$

BA

Estimate 1952-53

$

SA

$

1 4% Conversion Loan 1933 (Public Works Loan Redemp-

tion Ordinance, 1933-$4,838,000)

Interest

193,520

Sinking fund

166,911

193.520 166,911

360,431

360,431

2 31% Dollar Loan 1934 (Hong Kong Dollar Loan

Ordinance, Cap. 73-$14,000,000)

Interest

166,600

140,000

Redemption (1/25th)

560,000

560,000

726,600

700,000

3 34% Dollar Loan 1940 (Hong Kong Dollar Loan

Ordinance, Cap. 73-$11,790,000)

Interest

124,000

116,000

Redemption (1/25th)

472,000

472,000

596,000

588,000

4 31% Rehabilitation Loan 1947/48 (Rehabilitation Loan

Ordinance, Cap. 76-$50,000,000)

Interest

Sinking fund

1,680,525 500,000

1,644,405 500,000

2,180,525

2,144,405

Total Expenditure

3,863,556

3,792,836

1. 4% Conversion Loan 1933.

EXPLANATORY NOTES.

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.

2. 34% 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 15th July. Interest is payable annually on 15th January and 15th July. The amount outstanding on 31st March, 1952 was $4,280,000.

3. 34% 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, 1952 was $6,602,000. No provision is made for interest on bonds held by the Hong Kong Government.

4.

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.

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