ASSETS REALISATION BOARD

New Zealand Mail, Issue 1533, 18 July 1901, Page 53

ASSETS REALISATION BOARD

TRANSACTIONS -OF THE YEAR. The annual report of the general manager of the Assets Realisation Board for the year ending 31st March, and the balancesheet were submitted to Parliament on the 10th. The report states that the result of the year's working again shows satisfactory figures, as follows:

This is a surplus over expenditure of .£25,878 7s 3d, towards the realisation de. ficiency, to which must be added <£50,000 payable by the bank to the 31st /March last- „ ' The following statements will show the comparative returns each year since the realisation commenced : * Station properties—lß96, <£58,493; 1897, £56,336; 1898, £43,296; 1899, £42,481; 1900, £87,455; 1901, £63.019. Sundry properties—lß96, £6295; 1897, £6897; 1838, £6659; 1899, £7031; 1900, £68?2; 1901, £10,907. "The statutory payments by tte Bank of New Zealand have been made, and, 5 " says the manager, writing on 14th June, "I am advised that the £50,000 accrued due at 31st March last will be handed in shortly.’" Ter 31st March last debentxires amounting in all to £305 285 have been redeemed, and the general manager anticipates -that as the various unpaid balances of purchase money and mortgages are now rapidly maturing, heavy redemptions will be made during the present year. This account would have been reduced to a much greater extent but for the obvious necessity ’of according easy terms of payment for the properties sold. Sales had been in smaller volume and value than in the previous year, especially in resrard to country properties, the demand for which, except in dairying districts, had eased -off very considerably, in consequence, no doubt, of the shortening of resources of would be purchasers, due to the shrinkage in the Value of produce and the local advance in the prices for stock. Sales have been made as follows; —Country lands, 34,911 acres, realising £78,794, and town and suburban lands and sun dries to the value of £13,657. The sales for-the year were -Land, £92.451; stock and implements on properties finally realised. £9260: total. £101.711. The sales for the period 1895 1901, including stock, total £685.282. distributed a.s -follows; Auckland. £216.848; Canterbury, £222,. 064: TTawke’s Ba-* r £l6 022; Oha"0, £67.163: Marlborough, £20.014: Wellington, £BB 981; sundry assets. £7868; ctock 'sales on nroperties finally realised, £46.322. With reference to the station propex*ties. the general manager reports further good results for the year, notwithstanding that in consequence of the serious fall in the wool market they have had to provide for reclamations on drafts to the extent of £20,868 against clips unrealised at 31st March. 1900. As a. guide to -the esti. mates for March last, he had arranged for valuation bv the London brokers bv cable, hence -this season’s sales should fully cover drafts. The Waikato properties had since 1895 provided a considerable steadily increasing proportion of the station profits. *

J0 s. d. From stations 63,019 2s 11 Sundry properties 13,750 1 8 Payment by Bank of N.Z.... 50,000 0 0 Total 126,769 4 7 Less— 1 Debenture interest 84,095 17 8 Land and income tax 7991 12 6 Charges, etc 6866 17 7 Dr. balance, 1900 1936 9 7 Total 100,890 17 4 Leaving a balance'of ... 25,878 7 3