Committee Reports::Report - Appropriation Accounts 1962 - 1963::12 November, 1964::Appendix


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APPENDIX XIII.

POST OFFICE SAVINGS BANK AND TRUSTEE SAVINGS BANKS ACCOUNTS.

Account of all deposits received and paid during the Year ended 31st December, 1962, together with (1) a Statement showing the aggregate amount of the liabilities of the Government to depositors in the Post Office Savings Bank at 31st December, 1962, and the nature and nominal amount of the securities held by the Minister for Finance to meet those liabilities at that date; and (2) an Account for the Year ended 31st December, 1962, showing the interest accrued in respect of the securities standing to the credit of the Post Office Savings Bank Fund, the interest paid and credited to depositors in pursuance of the Acts relating to the Post Office Savings Bank, and the expenses incurred in the execution of those Acts.

(Presented to both Houses of the Oireachtas pursuant to the Post Office Savings Bank Acts, 1861 to 1958.)

(The Comptroller and Auditor General in his report on the Appropriation Account of the Vote for Posts and Telegraphs for the Year 1962-63 will report on his examination of the Accounts within.)

TRUSTEE SAVINGS BANKS.

Account of all sums received from and paid to the Banks by the Minister for Finance during the Year ended 20th November, 1962, together with a STATEMENT showing in the case of each Bank the amount of the liability of the Government at the 20th November, 1962, and the liability at that date of the British Government.

POST OFFICE SAVINGS BANK.

I. Account of all deposits received and paid during the year ended 31st December, 1962, showing also the total amount due to depositors at the close of the year. (Post Office Savings Bank Act, 1874—Section 3.)

		£			£
Balance at 31st			Repayments during the
December, 1961	. .	107,484,344	year ended 31st December, 1962	..	18,354,061
Deposits received during the year ended 31st			Balance (inclusive of interest) due at the close of the year 1962
December, 1962	. .	22,691,253	to all depositors	..	114,615,404
*Provision for interest due to depositors for
the said year	. .	2,793,868
£		132,969,465	£		132,969,465

Charges of Management and Expenses incurred for the Post Office Savings Bank for the year ended 31st December, 1962.

£270,805.

L. Ó BROIN,

Secretary.

Department of Posts and Telegraphs,

17th May, 1963.

POST OFFICE SAVINGS BANK.

II. Account for the year ended 31st December, 1962, showing the interest accrued in respect of the securities standing to the credit of the Post Office Savings Bank Fund, the interest paid and credited to depositors in pursuance of the Acts relating to the Post Office Savings Bank, and the expenses incurred in the execution of those Acts. (Customs, Inland Revenue and Savings Banks Act, 1877—Section 17).

			£				£
Interest accrued on securities standing to credit of the Post Office Savings Bank				Interest paid and credited to depositors			2,798,065*
Fund	..	..	4,524,277	Expenses incurred in
				the year	..	..	270,805
				Amount set aside towards provision against depreciation in value of securities			1,455,407
£			4,524,277	£			4,524,277

T. K. WHITAKER,

Secretary.

Department of Finance.

2 July, 1963.

POST OFFICE SAVINGS BANK.

III. Statement showing the aggregate amount of the liabilities of the Government to depositors in the Post Office Savings Bank at 31st December, 1962, and the nature and nominal amount of the securities held by the Minister for Finance to meet those liabilities at that date. (Savings Banks Act, 1904—Section 9.)

Liabilities			Nature and Nominal Amount of Securities held
		£					£
Balance due to depositors at 31st December, 1962, (including			3½% Fourth National Loan, 1950-70				99,172
			3½% Exchequer Bonds, 1965-70			. .	2,464,150
			3% Exchequer Bonds, 1965-70			. .	243
			5% National Loan, 1962-72			. .	104,437
			4½% National Loan, 1973-78			. .	49,100
interest	. .	114,615,404
Notes.			4¼% National Loan, 1975-80			. .	40,050
1. The figure of £114,615,404 above includes £17,398,820 in respect of the liability to Trustee Savings Banks.			5% National Savings Bonds,
			1971-81			. .	696,657
			5½% National Loan, 1966			. .	132,432
			6% National Loan, 1967			. .	388,120
			5½% Exchequer Stock, 1971-74				432,722
2. The aggregate value of the assets listed in the adjoining column based on the Stock Exchange Securities being taken at (a) cost, and (b) market value (exclusive of accrued interest) as at 31st December, 1962, was (a) £117,186,306 and (b) £116,521,202.			5¼% National Development Loan,
			1979-84	. .	. .	. .	7,903
			6% Exchequer Stock, 1980-85				995,256
			5¾% National Loan, 1982-87				6,133,210
			5¾% National Loan, 1982-87
			(40% paid)	. .	. .	. .	69,800
			Exchequer Bills	. .	. .	. .	3,650,000
			4½% Land Bonds		. .	. .	49,469
			Agricultural Credit Corporation Ltd., 3% State Guaranteed		. .	. .
			Mortgage Stock, 1957-67			. .	570,000
			Irish Sugar Company 4%
			Guaranteed Debenture Stock			. .	93,000
			Electricity Supply Board 5%
			Stock, 1966-75		. .	. .	75,000
			5% Transport Stock, 1970-75				500,000
			6% do. 1977-82				778,750
			Dublin Corporation 3%
			Redeemable Stock, 1968-78				145,000
			Dublin Corporation 3½%
			Redeemable Stock, 1960-65				4,202,810
			Dublin Corporation 5%
			Mortgage (31/12/74)			. .	273,301
			Cork Corporation 3% Redeemable
			Stock, 1969-79		. .	. .	242,700
			Cork Corporation 5% Mortgage
			(31/12/75)	..	..	..	71,383
			Treasury Bills	..	..	..	500,000
			3% Funding Loan, 1959-69			..	500,000
			3% Savings Bonds, 1960-70			..	400,000
			4¾% Conversion Stock, 1963			..	2,000,000
			4½% Conversion Stock, 1964			..	6,400,000
			Ways and Means Advances to
			Exchequer	..	..	..	58,117,500
			Advances under the Local Loans
			Fund Acts, 1935-58			..	3,008,000
			Advances under Telephone
			Capital Acts, 1924-60			..	20,677,001
			Interest accrued but not due for payment (computed amount)				991,408
			Cash Balance	..	..	..	420,867
			Income Tax recoverable			..	3,971
			3¼% United States Treasury
			Bonds due 15/2/63			..	$5,965,000
			5% United States Treasury
			Notes due 15/8/64		..	..	$220,000
			U.S. Dollars	..	..	..	$4,870

T. K. WHITAKER,

Secretary.

Department of Finance.

2 July, 1963.

TRUSTEE SAVINGS BANKS.

IV. Account of all sums received from and paid to the Banks by the Minister for Finance during the year ended 20th November, 1962.

						£							£
Balance at 20th November, 1961			..	..	..	16,558,469	Amounts paid to Banks during the year				..	..	674,000
Amounts received from Banks during the year					..	1,428,000	Balance (inclusive of interest) due to Banks at 20th
							November, 1962	..	..	..	..	..	17,815,315
Interest credited to Banks in the year ended 20th
November, 1962	..	..	..	..	..	502,846
						£18,489,315							£18,489,315

V. Statement showing in the case of each Bank the amount of the liability of the Government at 20th November, 1962, and the liability at that date of the British Government.

Bank					Amount due			Nominal amount of stocks and bonds held for depositors by the British National Debt Commissioners
Bank					By the Minister for Finance	By the British National Debt Commissioners	Total
					£	£	£	£
Cork		..	..	..	6,346,995	3,009	6,350,004	13,565
Dublin	..	..	..	..	8,105,930	1,523	8,107,453	27,771
Limerick		..	..	..	669,760	2,382	672,142	1,752
Monaghan		..	..	..	888,745	4,090	892,835	4,868
Waterford		..	..	..	1,803,885	11,049	1,814,934	20,063
Totals				..	17,815,315	22,053	17,837,368	68,019

T. K. WHITAKER,

Secretary.

Department of Finance.

2 July, 1963.

*The provision in the case of Trustees Savings Banks is for the year of account ended 20th November, 1962.

*Including, in the case of Trustee Savings Banks, the interest payable for the year ended 31st December, 1962.