636682-1897-Statements-in-connection-with-the-Loans-raised-in-1887-and-1894 — Page 1

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THE HONGKONG GOVERNMENT GAZETTE, 28TH AUGUST, 1897.

GOVERNMENT NOTIFICATION.-No. 337.

687

The following Statements in connection with the Loans raised in 1887 and 1894, which were laid before the Legislative Council on the 23rd instant, are published.

By Command,

Colonial Secretary's Office, Hongkong, 24th August, 1897.

J. H. STEWART LOCKHART,

Colonial Secretary.

QUESTION. Will the Government lay upon the table a detailed statement or account of the loan of £200,000 raised in 1887, shewing separately in sterling and in dollars all receipts and all payments in connection with or in respect of the principal, interest, and sinking fund, with the dates and the rates of exchange at which each item was converted from sterling into dollars or vice versâ, in short, a detailed account shewing how much interest per cent. per annum the ratepayers have paid for the loan in question, and a similar account to date in respect of the last loan of £200,000 floated in 1894, shewing in addition what amount thereof is still available, if any, how and in what way the monies have been cxpended, and what are the available assets in respect of said disbursements? The statement to shew in what securities the sinking fund has been invested, the cost thereof in sterling and in dollars, the annual revenue derived therefrom and the present market value of the securities.

ANSWER.

STATEMENT OF 1887 LOAN OF £200,000.

1887,

....Loau raised in 1887, at 4% per annum,

Less Debentures redeemed,.

1894,

........Balancc converted at 33% Stock,

£ 200,000, 0, 0 at 3/2=$1,263,157.90

60,000. 0. 0

£ 140,000. 0. 0

STATEMENT OF PAYMENTS IN CONNECTION WITH 1887 LOAN OF £200,000.

Year.

Commission, Stamps and other Expenses.

Interest.

Sinking Fund.

Average Rate of Exchange for the

year.

Total.

£

s. d.

£

s. d.

C.

£ s. d.

C.

$ c.

1887,

2,105. 6.9

13,296.86

2,520.19.0

15,921.55

3,536.0.0

22,332.64

32

51,551.05

1888,

40.15.0

*257.37

8,000. 0.0

50,526.82

7,072.0.0

44,665.26

95,448.95

1889.

40.15.0

257.87

7,976. 0.0

50,374.73

7,072.0.0

41,665.26

95,297.36

1890,

41.113

246.76

8,024. 0.0

47,641.74

7,072.0.0

41,989.35

311217

89,877.85

1891,

41. 8.6

260.78

8,000. 0.0

50,360.66

7,072.0.0

44,518.82

324

95,140.26

1892,

41. 7.3

289.52

8,000. 0.0

1893,

41. 8.9

332.36

1894, .

18. 9.0

175.79

7,990. 0.0

6,155. 0.0

55,761.84

62,095.40

57,754.82

7,072.0.0 49,274.80

7,072.0.0 54,942.53

7,072.0.0 66,075.73

299784

105,326.16

263

117,370.29

214

124,006.34

£2,371. 1.6

$ 15,116.81 £56,665.19.0 $390,437.06 £53,040.0.0 $368,464.39

STATEMENT OF 1893 LOAN OF £200,000 AT 31 %.

1893, ....Loan raised in 1893, at 34 % ...

1894,

....Balance of 1887 Loan converted in 1894 at 35 % Stock,.

Stock created to defray Expenses of Conversion,

$ 774,018.26

£ 200,000. 0. 0 at 274-$1,536,000.00 140,000. 0. 0 at 214= 1,330,693,07

1,799.15. 1 at 2 11:

17,106.57

£ 341,799.15. 1

$2,883,799.64