ASSETS REALISATION BOARD.

New Zealand Times, Volume LXXI, Issue 4405, 11 July 1901, Page 5

ASSETS REALISATION BOARD.

TRANSACTIONS “OF THE TEAR.

The annual report of tie general manager of the Assets Realisation Board for the year ending, 31st March, and the “balance, sheet were submitted to Parliament yesterday. _ , . The report'states that the result of the year’s working again shows satisfactory figures, as follows:

Leaving a balance'of ... 25,878 7 8 This is a surplus over expenditure of £25,878 7s Bd, towards the realisation do. ficienoy, 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; 1898, £6659; 1899, £7031; 1900, £6822; 1901. £10,907. "The statutory payments by the Bank of New Zealand have been made, ’and," 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.” To 31st March last, debentures amounting in all to £305,285 have been redeemed, and the general manager anti, cipates 'that as the various unpaid balances of purchase money and mortgagee ate now rapidly maturing, heavy redemp. tions 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 V e ar. especially in regard to country properties, the demand for which, except in dairying diitriots, had eased *off very considerably, in consequence, no doubt, of the shortening of resources of would-be purchaser#, due to the shrinkage in the Value of produce and the local advance In the prices for stock. _ SalesTiave been made as follows: —Country lands. 34,911 acres, realising £78,794, atrd town and suburban lands and sundries 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 sale# for the period 1895-1901, including stock, total £685,282, distributed as “follow*: Auckland. £216.848; Canterbury. £22*,. 064; Hawke's Bav £16,022; Otago, £87.16$; Marlborough, £20,014; Wellington, £88.981; sundry assets. £7868; stock Vale# on uroperties finally realised, £46,328. With reference to the station properties, the general manager reports further Vood 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 81st March. 1900. As a. guide to “the esti. mates for March last, he bad arranged for valuation bv the London brokers’ bv ■'able, hence “this season’s sales shonld fully cover drafts. The Waikato proneriae* had since 1895 provided a considerable steadily increasing proportion of the station profits, •

£ B. d. From stations 63.019 2s 11 Sundry properties . 13,750 1 8 Payment >by Bank of N.Z..., . 60,000 0 0 Total ... ... . 126,769 4 7 Loss— • Debenture interest ... ... . 84,095 17 8 Land and income tax . .. 7991 12 6 Charges, etc. ... . 6860 17 7 Dr. balance, 1900 ... 1936 9 7 Total ■ ... ... , 100.890 17 4