Head 25-PUBLIC DEBT
73
Approved Estimate 1952-53
Estimate 1953-54
Sub-heads
$
$
$
69
$
1 4% Conversion Loan 1933 (Public Works Loan Redemp-
tion Ordinance, 1933-$4,838,000)
Interest
Sinking fund
193,520 166,911
193,520
166,911
Redemption
250,000
360,431
610,431
2 31% Dollar Loan 1934 (Hong Kong Dollar Loan
Ordinance, Cap. 73-$14,000,000)
Interest
140,000
120,400
Redemption (1/25th)
560,000
560,000
700,000
680,400
3 31% Dollar Loan 1940 (Hong Kong Dollar Loan
Ordinance, Cap. 73-$11,790,000)
Interest
116,000
108,000
Redemption (1/25th)
472,000
472,000
588,000
580,000
4 31% Rehabilitation Loan 1947/48 (Rehabilitation Loan
Ordinance, Cap. 76-$50,000,000)
Interest
Sinking fund
1,644,405 500,000
1,633,310 500,000
Total Expenditure
2,144,405
3,792,836
2,133,310
4,004,141
EXPLANATORY NOTES.
1. 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. The loan is due for redemption in August 1953 and an additional $250,000 is required to cover depreciation of investments.
2.
31% 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. The amount outstanding on 31st March, 1953 was $3,720,000.
3. 33% 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. The amount outstanding on 31st March, 1953 was $6,130,000. 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 1973/78. 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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