ASSETS REALISATION BOARD.

Otago Daily Times, Issue 12403, 12 July 1902, Page 8

ASSETS REALISATION BOARD.

(From 'Our Owx Cor.up.sroNDENT.) WELLINGTON, July 11. The annua! report of the general manager of the Assets Realisation Board presented to tho House to-day stated that owing to tin low price ruling for wool, etc., the estimates of the values of produce afloat and unrealised at March 31, 1901, were not sustained, aud in addition to this the values of standing flocks and stock had recedcd considerably, and for these two items pro--vision had, of course, been made from the past year's earnings, ctc., am! by this amount approximately they hod conic short of making, with the £50,000 the bank contributed, the debenture interest- for the year. Tlie position, therefore, was as under:— Balance of profit from stations. £21,927; from sundry properties, £13,301; ftom payment Bank of New Zealand, £50,000; balance 1901. £25,978: —total. £111,607. l'rom theso had (o be deducted debenture interest, £32.926; land and income tax, £7735; charges, etc., £7453:—t0ta1, £98.015, which when deducted from £111,607, left a balance of £13,592. Sales to the 'extent of £139,898 had been made during tho year, an increase of £38,167 over those of tho previous year. TJie_sales for the period 1895 to 1902 totalled £825,180. The localities of sales made were as follows:—Auckland—s estates, 143 farms, 608 town sections, 263 suburban properties, of a total value, of £253,615; Canterbury— 3 estates, 73 farms, 19 town sections, 63 suburban properties, of the value of £234,650; llnwke's Bay—2 estates, 9 town sections, of the value of £104,140; Otago— 2 estates, 9 farms, 565 town sections. 124 - suburban properties, value £67,540; Marlborough—l estate, 4 farms, 65 town sec- ' ' ions. 6 .suburban properties, value £20,414; Wellington—l 7 farms, 31 town sections, 1 suburban property, value £89,631. lhc results of tho vear's working on the stations, whilst much short of those of the previous year, were still very pood, considering the low price of wool and the much ' lower rates obtainable for stock sold locally aud frozen, as well as the reduced values : at which stock stand this year. In 1896 the profit was £32,719. Since then the annual figures were £45.400, £25,857, £54,812, £49,598, £81,710. In 1902 tho profits were £30,336. the average for tho whole period being £45.776, or 3.12 per cent, on the book cost and 4.35 per cent, on tho general manager's valuation. The working expenses in 1902 were £6',758, as against £71,524 in 1901. Tho report, in conclusion, states that "proncrtics which tho hoard is working are being brought up and kept up not only to tho host earning condition, but are being held in the best and most profitable condition for the probnblo purchaser. The land is not boinar impoverished, but is being enriched liv the operations carried on. which arc purely tin l production of wool and mutton, no grain cropping being undertaken bevond what is nccessarv for stock-feeding. The stock throughout of all descriptions aro of the best, aud are without exception'in

good order and condition. Tlio inquiry is improving for farms in Waikato for dairy'nß purposes, and tho properties already cut up are moving off at fair values. Considerable areas have been and are still being put ou the market by other sellers, and readily 'taken up, but in most cases these have tho advantage' of locality or quality I hat make t hem more popular than those we arc offering. We have little doubt that, with .these out of the way, we shall clear large areas during the next 12 montlifi, The assets of the board were set down as beine £2,428, tit).