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Under the provisions of section 2 of Act No. 3014, the following bonds, included in the preceding list of bonds purchased, have been canceled:

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42's, due 1952, irrigation and permanent public works..

42's, due 1958, Cebu port works..

42's, due 1959, Cebu port works.

42's, due 1958 Iloilo port works.. 42's, due 1959 Iloilo port works.. Municipal:

City of Cebu 4's, due 1941.
City of Manila 4's, due 1935.
City of Manila 4's, due 1937.
City of Manila 4's, due 1938.

City of Manila 41⁄2's, due 1959_-.

Total___.

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All canceled bonds have been shipped to the auditor of the Philippine Islands. This leaves $22,526,000 in securities actually held in this Bureau for account of the Philippine Government on June 30, 1933.

RAILWAY BONDS

The bonds of railroads, guaranteed as to interest by the Philippine government, outstanding are:

Manila R.R. Co. (southern lines) 4 percent bonds, due 1939-
Manila R.R. Co. (southern lines) 4 percent bonds, due 1959-
Manila R.R. Co. 7 percent sinking fund bonds, due 1937 1.
Philippine Ry. Co. first-mortgage 4 percent bonds, due 1937.

Total..

$10, 586, 000 1, 069, 000 1, 500, 000 8, 549, 000

21, 704, 000

No bonds of the Manila Railroad Co. were purchased from sinking funds of said company nor were any bonds canceled during the past year.

The par value of the bonds held in safekeeping by the trustee on June 30, 1933, amounted to $390,000; of these, $355,000 bonds were due in 1939 and $35,000 bonds were due in 1959.

1 The payment of the principal of this issue of bonds is also guaranteed by the Philippine government.

COINAGE

The new coin received during the year 1932, including recoinage, consisted of 197,793.05 of the 5-centavo denomination and P40,000 of the 1-centavo denomination. On December 31, 1932, the total amount in circulation and available therefor was P40,726,514.28, consisting of the following:

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The following is a statement of insular receipts and disbursements of the Philippine Islands, exclusive of all items of a refundable character, expressed in United States currency, for fiscal (calendar) years 1929, 1930, 1931, and 1932:

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1 Includes coffee for transshipment to foreign countries amounting to 259,683 pounds, valued at $94,150 in 1930, 1,535,284 pounds valued at $428,613 in 1931, 543,370 pounds valued at $145,452 in 1932, and 491,865 pounds valued at $113,639 in 1933.

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