VPRS 11237 Sinking Fund Debentures Account Ledger

Full description

This series comprises a Sinking Fund Debentures Account Ledger. A sinking fund is a fund established for the purpose of meeting future commitments through the payment of regular contributions into a sinking fund account.

A debenture is a loan made to a company or organisation for a fixed period at a fixed interest rate. It is a type of debt security backed by the general credit of the issuer (eg. the Melbourne Harbor Trust Commissioners) and not by a specific security.

The purpose of the ledger was to manage the fund account. Information within the ledger indicates that the account was reconciled and audited each year. That information included:
- amounts loaned to the MHTC each year by way of debenture
- amounts invested by the MHTC each year.

Due to the number of blank pages following the last recorded entry, it is assumed that this record series ceased in 1947.