39

I.—6c

Picton Section.

INSTALMENTS OP INTEREST PAYABLE BY THE COLONY. The Seceetaby, Treasury, to the Cleek, Public Accounts Committee. (No. 580.) Sic,— ' Treasury, Wellington, 4th September, 1893. I have the honour, by direction of the Colonial Treasurer, to acknowledge the receipt of your memorandum of the 29th ultimo, inquiring what will be the annual cash charge upon the colony to meet the interest upon the debentures for £850,000, payable in twenty yearly instalments, which the Midland Eailway Company propose to accept in exchange for their land-grants; and to enclose herewith a statement as requested, but compiled to show interest on half-yearly instalments—the period mentioned in clause 12 of the proposed agreement. I have, &c, The Clerk, Public Accounts Committee, James B. Heywood, House of Eepresentatives, Parliament Buildings. Secretary to the Treasury.

Twenty Half-yeaely Instalments of £42,500. —Interest at 3J per centum per annum. £ s. d. £ s. d. 1 half-year £42,500 ... 3£ per cent. 743 15 0 2 „ 42,500 + £42,500 = £85,000 ... „ 1,487 10 0 ■ 2,231 5 0 3 „ 85,000 + 42,500 = 127,500 ... „ 2,231 5 0 4 „ 127,500 + 42,500 = 170,000 ... „ 2,975 0 0 — 5,206 5 0 5 „ 170,000 + 42,500 = 212,500 ... „ 3,718 15 0 6 „ 212,500 + 42,500 = 255,000 ... „ 4,462 10 0 8,181 5 0 7 „ 255,000 + 42,500 = 297,500 ... „ 5,206 5 0 8 „ 297,500 + 42,500 = 340,000 ... „ 5,950 0 0 11,156 5 0 9 „ 340,000 + 42,500 = 382,500 ... „ 6,693 15 0 10 „ 382,500 + 42,500 = 425,000 ... „ 7,437 10 0 14,131 5 0 11 „ 425,000 + 42,500 = 467,500 ... „ 8,181 5 0 12 „ 467,500 + 42,500 = 510,000 ... „ 8,925 0 0 • 17,106 5 0 13 „ 510,000 + 42,500 = 552,500 ... „ 9,668 15 0 14 „ 552,500 + 42,500 = 595,000 ... „ 10,412 10 0 ■ ■ 20,081 5 0 15 „ 595,000 + 42,500 = 637,500 ... „ 11,156 5 0 16 „ 637,500 + 42,500 = 680,000 ... „ 11,900 0 0 23,056 5 0 17 „ 680,000 + 42,500 = 722,500 ... „ 12,643 15 0 18 „ 722,500 + 42,500 = 765,000 ... „ 13,387 10 0 26,031 5 0 19 „ 765,000 + 42,500 = 807,500 ... „ 14,131 5 0 20 „ 807,500 + 42,500 = 850,000 ... „ 14,875 0 0 29,006 5 0 £156,187_10_0 4th September, 1893. B. J. Collins, Accountant to the Treasury.

Approximate Cost of Paper.— Preparation (not given); printing (1,525 copies), 7a. 6d.

Authority : Samuel Costall, Government Printer, Wellington.—J.S93,

Price t Is.}

svenuo. Year. Cost of Construction. Interest i at 4J per Cent. Over Working-expenses. Under Working-expenses. Loss. .883-84 .884-85 .885-86 .887-88 .888-89 .889-90 .890-91 .891-92 .892-93 & 192,307 193,511 195,800 198,570 198,494 198,548 199,033 199,151 202,491 204,917 £ 9,135 9,192 9,301 9,432 9,428 9,431 9,454 9,460 9,618 9,733 £ 387 366 278 94 252 1,274 284 1,564 81 £ 270 £ 8,748 8,826 9,023 9,338 9,698 9,179 8,180 9,176 8,054 9,652 Totals 94,184 4,580 270 89,874