✨ Financial Correspondence
66
C.
CORRESPONDENCE in reference to the Apportionment of Charges under The Wellington and Hawke’s Bay Debts Apportionment Act, 1868.
The Hon. W. Gisborne to His Honor the Superintendent, Wellington.
Colonial Secretary’s Office,
Wellington, 3rd May, 1871.
Sir,—
Adverting to the subject of the apportionment of the charges for interest and sinking fund upon the Wellington Provincial Loans, payable respectively by the Provinces of Wellington and Hawke’s Bay, under Mr. Curtis’ award, I have the honor to enclose for your information a series of accounts, and an account current furnished by the Treasury, showing the proportions of the charges upon the various loans payable by the respective provinces, calculated up to the 31st of March last.
Your Honor will perceive from the enclosures that after allowing credit for the deductions made by the General Government on account of interest, and charging for the proportion of 23.5 per cent. of the interest and sinking fund, paid by the Province of Wellington on the loans with proportion of cost of consolidation, there remained at the above date a balance in favor of the Province of Hawke’s Bay of eight hundred and eighty one pounds six shillings and seven pence.
I enclose at the same time a copy of the Assistant Treasurer’s memorandum, covering these accounts, which with the accounts themselves will, it is hoped, render the whole matter sufficiently clear to your Honor and the Provincial Council of Wellington.
I have the honor to be,
Sir,
Your obedient servant,
W. GISBORNE.
His Honor the Superintendent,
Wellington.
Memorandum for the Under Secretary.
Herewith please receive statement made up from the Treasury accounts for the information of their Honors the Superintendents of the Provinces of Wellington and Hawke’s Bay, showing that the balance due to Hawke’s Bay on the 31st March, 1871, for over payments on account of interest and sinking fund was £881 6s 7d.
This account is supported by detailed statements which have been made so explicit that I believe they will not require further explanations, at the same time these details will enable their Honors to check every item and of course as it is an account between the Provinces with which the General Government has no direct concern, it must be subject to emendation if the Superintendents should deem that any alterations are required.
It may be needful to point out that although in the interest account the dates from and to which the interest is calculated will be found in some cases to ... overlap ... yet that this is not an error, but is one of those incidents which are unavoidable in operations for raising money by way of loans, and that the dates given are those in respect of which Wellington has made (or has yet to make) the various payments with which that Province is credited in these accounts.
A statement is also appended showing the proportions of unconverted and consolidated loans on which interest and sinking fund will have to be paid by the respective Provinces from and after April 1st, 1871.
There will be a small additional charge for the expenses of the fourth conversion, but the amount has not been made up as yet.
J. WOODWARD.
May 1, 1871.
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Wellington Provincial Gazette 1872, No 10
✨ LLM interpretation of page content
💰 Correspondence regarding Apportionment of Charges under The Wellington and Hawke’s Bay Debts Apportionment Act, 1868
💰 Finance & Revenue3 May 1871
Financial Apportionment, Provincial Loans, Wellington, Hawke’s Bay, Treasury Accounts
- The Hon. W. Gisborne, Colonial Secretary
- J. Woodward, Assistant Treasurer