I. TELEGRAPH CAPITAL AND ANNUAL CHARGE IN RESPECT THEREOF. (Since 1873 expenditure on Construction has been borne by annual Votes of Parliament.) 11,907 (2) With the unexpended balance of the Post Office Telegraphs Capital Account in August 1891 (3) With part of the proceeds of sale of a share in the Anglo-Dutch £ 7,588,757 1,079,043 1,347,152 525,486 407,735 10,948,173 1,020 80,529 10,867,644 ⚫Interest on the above sum at 2 per cent. for year to 5th January 1922, being the charge for the Year ended 31st March 1922 271,691 Surpluses remaining, after provision for the payment of the annual charge for Interest, as a Sinking Fund for the redemption of the Stock created on account of the Telegraph Service,— and the sum of £67,602 Stock, as shown above, was cancelled. (See Parliamentary Papers, Nos. 69 and 386 of 1872.) Since the year 1871 there has been no surplus. The total net expenditure of Capital out of the money raised by the creation of the Stock referred to above was £10,129,687. No new stock has been created subsequent to 1879. (a) This money was raised in connection with the purchase of the Plant, &c., of the late National Telephone Company £7,380,000 of the total payment was raised in Exchequer (Telephone) 3 per cent. Bonds redeemable at par on or before 1st January 1930, and £1,411,834 represents advance Subscriptions retained by the Company in part payment of the purchase price. (b) Including a sum of £188,526 received from the Hull Corporation in payment for the purchase of the late National Telephone Company's plant, &c., which was treated as an advance under the Act 3 & 4 Geo. V. c. 24, and also a sum of £890,000 being the depreciated value of Telephone Plant provided for "War" purposes out of Vote of Credit moneys or out of savings on the Post Office Vote and subsequently used for the development of the public service, which was treated as a set off against an equivalent sum authorised under the same Act (T.L.'s 9658/14 and 39652/19). B.-STATEMENT OF ANNUAL CHARGE IN RESPECT OF TELEPHONE CAPITAL. 1,000,000 51,264,281 1920-21-Telephone Plant provided for " War purposes out of Vote of Credit moneys, etc., and retained for Post Office use (see note (b) to Statement IIA.) Cash in hand Total Loans raised as per Statement IIA. 890,000 266,102 52,421,083 II. Telephone Capital-Cash (continued). D. SCHEDULE OF TERMINABLE ANNUITIES SET UP, OF LOANS RAISED AND REPAID, AND THE BALANCE OUTSTANDING. PERIOD ENDED 31ST MARCH 1922. Loans raised January-March 1922. Annuity not yet arranged. †The difference between this sum of 42,550,7231. and the sum of 52,421,0837. is explained in the footnotes to Statement II. A. page 5. II.—Telephone Capital—Cash (continued). E. EXCHEQUER (TELEPHONE) BONDS ISSUED AND REDEEMED TO 31ST MARCH 1922. Note. In addition to the amount expended on the purchase of Bonds, the National Debt Commissioners held, on Redemption Account, on 31st March 1922, the following Stock and Cash : (1) 3 per cent. War Loan Stock to the amount of £ 302,635 302,636 The interest on the Stock is being applied to the purchase of Bonds. |