London Statistics Volume 3

London Statistics Volume 3

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1893 edition. Excerpt: ... in the purchase and sale of stock and bonds which have taken place from time to time since 1866. There is no regular accumulation of a sinking fund of 3 per cent, of the money borrowed, but from 1866 to 1891 a total net sum of 31,441 has been applied to repayment of debt. Of this amount the following items were for the purchase of ' navigation bonds," which so far as the accounts show appear to be transactions outside the ordinary sinking fund transactions--This amount being set aside, there remains an aggregate sum of 12,615 for the sinking fund which was to have been formed under the Act of 1857. The figures relating to this sinking fund, as shown by the accounts, are as follows: the amount borrowed and outstanding in 1866 was 119,100, against which there was a sinking fund, unapplied, of 58,312 lis. 4d. This gives a net outstanding debt at that date of 60,787 8s. 8d., which includes the old bond debt of the City, in 1891 there was still 94,700 outstanding, with a sinking fund invested of 68,245 9s. 6d., showing a net debt of 26,454 10s. 6d. The actual process of redemption during the period from 1866 to 1891. is shown by the following table: --(b) The Upper Navigation borrowing powers commenced with the Act 11 Geo. III., cap. 45, under which the then Commissioners were empowered to borrow 50,000; by 28 Geo. III., cap. 51, they were empowered to borrow a further 25,000; and by 52 Geo. III., cap. 47, a further 25,000, making in all 100.000. The preamble of 35 Geo. III., cap. 10, recites that 53,700 was borrowed up to 1795; the preamble of 52 Geo. III., cap. 47, that 66,800 was borrowed up to 1812; and sec. 78 of 29 and 30 Vic, cap. lxxxix., recites...show more

Product details

  • Paperback | 144 pages
  • 189 x 246 x 8mm | 268g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236919440
  • 9781236919441