Basic HTML Version
y_:
Amount
of
Oripn-l D»bt
£615.000
Amoant rep-id
Nil.
Amount ouUtandin**
at end of jexr
under Rerie**' "j
To whom due
£615.000
Stockholders
PUBLIC
Rate
of
Interest
4 per cent.
£2,000
Nil.
£2,000 Colonial Development i 5 per cent.
Fund
!
N O T E . — U n d e r an Annex to the Convention of 4th June, 1878, between Great
Britain and Turkey the former Power undertook to pay to the Porte annually
a sum representing the excess of Revenue over Expenditure calculated on the
average of the five years preceding the date of the Convention, excluding the
produce of State and Crown lands let or sold during that period. The amount to
be paid was determined to be -£87,686 per annum ; this to be in addition to
4,166,220 okes of Salt to be paid in kind.
The sum of £113 lis. 3d. per annum also became payable, under
the same Annex, since the 4th September, 1884, when the Cyprus Government
took over the administration of the Lighthouse Service in the Island. This aura
represents 2 2 % of the receipts of the Ottoman Lighthouse Administration which
the Sublime Porte enjoyed under the concession granted the Company for
lighting the Coast of Cyprus.
By a further Agreement of 3rd February, 1879, a further sum of £5,000
was to be paid annually to the Porte in respect of the produce of State lands.
The above annual payments, which total £92,799 11-. Zd.. are chargeable
against the Revenues of the Colony in respect of its share of the Turkish Public
Debt charge, but an Imperial Parliamentary Grant of a like amount is made to the
Colony annually to cover the total charge.