Note 13 — GENERAL REMARKS.
Reading edition
Footnote 13: In order to replace the original capital, 10 per cent. or 50,000l. yearly laid aside as a sinking fund, is quite sufficient, thus:—
Principal. Interest.
1st year £50,000 0 0
2d year 50,000 0 0 £2,500 0 0
3d year 50,000 0 0 5,125 0 0
4th year 50,000 0 0 7,881 5 0
5th year 50,000 0 0 10,775 6 0
6th year 50,000 0 0 13,814 0 6
7th year 50,000 0 0 17,004 19 0
8th year 50,000 0 0 20,335 0 6
9th year 50,000 0 0 23,872 15 6
10th year 50,000 0 0 27,566 8 7
———— — — ———— — —
Capital 500,000 0 0 128,888 14 9
Interest 128,888 14 9 ———— — —
———— — —
Total £628,888 14 9
———— — —
A similar sum (see Appendix, No. 1.) of at least 600l. per annum, each, ought to be charged as the capital necessary to replace the sailing-packets.(Back)