ACCOUNT

YEAR ENDED
31 MARCH 1973

$778,635,650 Securities converted .. .. .. .. .. .. ..

$598,040,050 Securities redeemed—
Registered Treasury bills .. .. .. .. .. .. ..
440,671,329 Other .. .. .. .. .. .. ..

$1,038,711,379

Cr. 152,572 Charges and expenses of issuing securities for purpose of redeeming loans
43,230 Charges and expenses of redeeming securities .. .. .. .. ..

48,026,636 Excess of receipts over payments .. .. .. .. .. .. ..

$1,865,264,323

.. Excess of payments over receipts
18,639,695 Balances at end of year—
125,897,427 Cash .. .. .. .. .. .. ..
Investments .. .. .. .. .. .. ..

$144,537,122 Total .. .. .. .. .. .. ..

LOANS ACCOUNT

$78,500,000 Contributions to Works and Trading Account—
Electric Supply .. .. .. .. .. .. .. 86,500,000
65,000,000 Public Works .. .. .. .. .. .. .. 85,000,000
23,724,415 Railways .. .. .. .. .. .. .. 13,514,167

$167,224,415

$10,390,922 Capital equipment credit arrangements—
Electric Supply .. .. .. .. .. .. .. 4,425,628
2,917,521 Railways .. .. .. .. .. .. ..

$13,308,443

$180,532,858 Acquisition of shares in Air New Zealand Ltd. .. .. .. .. .. .. ..
7,000,000 Acquisition of shares in Development Finance Corporation .. .. .. .. .. .. ..
.. Acquisition of shares in New Zealand Steel Ltd. .. .. .. .. .. .. ..
$1,000,000 Acquisition of shares in Offshore Mining Company Ltd., including half interest in petroleum mining licence for Maui Field .. .. .. .. .. .. ..
.. Acquisition of shares in Tasman Pulp and Paper Company Ltd. .. .. .. .. .. .. ..

$100,000 Advances to Development Finance Corporation .. .. .. .. .. .. ..
$1,699,972 Advances to Natural Gas Corporation of New Zealand .. .. .. .. .. .. ..
$325,000 Advances to New Zealand National Airways Corporation .. .. .. .. .. .. ..
.. Advances to Offshore Mining Company Ltd. .. .. .. .. .. .. ..
$23,000,000 Advances to Post Office .. .. .. .. .. .. ..
.. Advances to Shipping Corporation of New Zealand Ltd. .. .. .. .. .. .. ..
.. Calls on shares in Shipping Corporation of New Zealand Ltd. .. .. .. .. .. .. ..

$85,000,000 Advances to State Advances Corporation .. .. .. .. .. .. ..
$355,433 Advances to Tourist Hotel Corporation .. .. .. .. .. .. ..
$20,000 Encashment of securities IBRD .. .. .. .. .. .. ..
$820,473 Further subscriptions to Asian Development Bank .. .. .. .. .. .. ..
$1,208,931 Further security in favour of Asian Development Bank .. .. .. .. .. .. ..
$300,000 Encashment of securities Asian Development Bank .. .. .. .. .. .. ..

$846,206 Charges and expenses of raising loans—
.. New issues .. .. .. .. .. .. ..
.. Excess of receipts over payments .. .. .. .. .. .. ..

$302,208,873

$9,566,264 Excess of payments over receipts
4,072,941 Balances at end of year—
43,897,508 Cash .. .. .. .. .. .. ..
.. Investments .. .. .. .. .. .. ..

$47,970,449 Total .. .. .. .. .. .. ..

$57,536,713

YEAR ENDED
31 MARCH 1974

$178,520,735

$532,350,000 Registered Treasury bills .. .. .. .. .. .. ..
$196,727,262 Other .. .. .. .. .. .. ..

$729,077,262

Cr. 601,240 Charges and expenses of issuing securities for purpose of redeeming loans
.. Charges and expenses of redeeming securities .. .. .. .. ..

.. Excess of receipts over payments .. .. .. .. .. .. ..

$906,996,757

$21,356,493 Cash .. .. .. .. .. .. ..
$119,578,768 Investments .. .. .. .. .. .. ..

$140,935,261 Total .. .. .. .. .. .. ..

$185,014,167

$4,425,628 Electric Supply .. .. .. .. .. .. ..
.. Railways .. .. .. .. .. .. ..

$4,425,628

.. Acquisition of shares in Air New Zealand Ltd. .. .. .. .. .. .. ..
$4,825,000 Acquisition of shares in Development Finance Corporation .. .. .. .. .. .. ..
.. Acquisition of shares in New Zealand Steel Ltd. .. .. .. .. .. .. ..
$30,000,000 Acquisition of shares in Offshore Mining Company Ltd., including half interest in petroleum mining licence for Maui Field .. .. .. .. .. .. ..
$7,920,000 Acquisition of shares in Tasman Pulp and Paper Company Ltd. .. .. .. .. .. .. ..
$18,750,000 Advances to Development Finance Corporation .. .. .. .. .. .. ..
$1,769,330 Advances to Natural Gas Corporation of New Zealand .. .. .. .. .. .. ..
$1,500,000 Advances to New Zealand National Airways Corporation .. .. .. .. .. .. ..
$1,174,000 Advances to Offshore Mining Company Ltd. .. .. .. .. .. .. ..
$21,000,000 Advances to Post Office .. .. .. .. .. .. ..
$2,159,110 Advances to Shipping Corporation of New Zealand Ltd. .. .. .. .. .. .. ..
$7,710,000 Calls on shares in Shipping Corporation of New Zealand Ltd. .. .. .. .. .. .. ..

.. Advances to State Advances Corporation .. .. .. .. .. .. ..
$63,000,000 Advances to Tourist Hotel Corporation .. .. .. .. .. .. ..
$3,086,673 Encashment of securities IBRD .. .. .. .. .. .. ..
$20,000 Further subscriptions to Asian Development Bank .. .. .. .. .. .. ..
$766,260 Further security in favour of Asian Development Bank .. .. .. .. .. .. ..
$1,142,397 Encashment of securities Asian Development Bank .. .. .. .. .. .. ..
$350,000

$2,258,657 Charges and expenses of raising loans—
.. New issues .. .. .. .. .. .. ..
.. Excess of receipts over payments .. .. .. .. .. .. ..

$17,366,682

.. Excess of payments over receipts
.. Balances at end of year—
$6,745,059 Cash .. .. .. .. .. .. ..
$58,592,072 Investments .. .. .. .. .. .. ..

$65,337,131 Total .. .. .. .. .. .. ..

$65,337,131