Estimates-1955 — Page 83

Sub-heads

Head 26-PUBLIC DEBT

Approved Estimate 1953-54

Estimate 1954-55

$

$

$

$

1 31% Dollar Loan 1934(Hong Kong Dollar Loan Ordinance,

Cap. 73-$14,000,000)

Interest

Redemption (1/25th)

120,400 560,000

100,800 560,000

680,400

660,800 u

2 31% Dollar Loan 1940(Hong Kong Dollar Loan Ordinance,

Cap. 73-$11,790,000)

Interest

108,000

Redemption (1/25th)

472,000

97,000 472,000

580,000

569,000 u

3 31% Rehabilitation Loan 1947/48 (Rehabilitation Loan

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

Interest

Sinking fund

1,633,310 500,000

1,633,310 500,000

2,133,310

2,133,310 u

*

4% Conversion Loan (1933 Public Works Loan Redemption

Ordinance, 1933-$4,838,000)

Interest

193,520

Sinking fund

166,911

Redemption

250,000

Total Expenditure

610,431

4,004,141

3,363,110

Sub-head 1 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, 1954 was $3,160,000.

3

*2

2 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 an- nually on 15th July. The amount outstanding on 31st March, 1954 was $5,658,000. No provision is made for interest on bonds held by the Hong Kong Government.

Sub-head 3 34% Rehabilitation Loan 1947/48. The Loan was raised in 1947/48. Interest is payable an- nually on 15th January and 15th July. Con- tributions are made to a sinking fund at a rate not less than 1% per annum.

*

4% Conversion Loan 1933. The loan was re- deemed in full on 1st August, 1953.

79