EAST COAST NATIVE TRUST LANDS BOARD (REPORT, BALANCE-SHEET, AND STATEMENT OF ACCOUNTS OF THE).

Appendix to the Journals of the House of Representatives, 1906 Session II, G-08

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Session II 1906. NEW ZEALAND.

EAST COAST NATIVE TRUST LANDS BOARD (REPORT, BALANCE-SHEET, AND STATEMENT OF ACCOUNTS OF THE).

Presented to both Houses of the General Assembly in -pursuance of Section 13 of " The East Coast Native Trust Lands Act, 1902."

Eepoet by the East Coast Native Trust Lands Board. Sia, , — Gisborne, 25th August, 1906. The Board has the honour to submit the following report of its transactions during the past year, together with statements of its accounts to date. In its last report the Board stated that the chief purposes for which it had been appointed had been fulfilled, but that the following matters still remained to be dealt with—namely, the adjustment of accounts as between the various interests in the estate, the settlement of large outstanding claims against the Trustees, and probably further realisation in connection therewith. The claims referred to have been settled. The question of adjusting the equities as between the beneficiaries, the Board considers, can only be satisfactorily dealt with by the Validation Court, as all matters in connection with the final settlement must be referred to that body, and it is within the knowledge of the Board that the course suggested would be the only one that would be approved of by the beneficiaries. The clauses in the Maori Lands Claims Adjustment and Laws Amendment Bill of 1905 empowering the Validation Court to make such adjustment were well calculated to facilitate a settlement on an equitable basis, and with the least possible expense and litigation; and the Board desires to express its regret that these clauses, as also that dealing with the proposed alterations in the constitution of the Board, did not pass. The Board earnestly hopes that the whole of the clauses will become law this session. During the past year only one property has been disposed of —namely, parts of Sections 3 and 6 of Maraetaha No. 2, which were acquired by the Gisborne Borough Council for the purpose of a waterworks reserve. The more accessible of the Trust lands not yet dealt with, as those remaining in Tahora No. 2, are intended to be offered for lease as soon as arrangements for reading can be made. To open up the northern portion of the block, the Board is about to form two and a half miles of dray-road to connect with the nearest surveyed road, which is, however, merely a track, and the Board's lessees will form a mile of this track (to Williams's) and make it into a dray-road. Crown tenants in the neighbourhood purpose taking up the roading from this point, and will contribute towards widening out the present track and making it into a dray-road as far as Wharekopae. They are applying to the Government for assistance, and in view of the urgent need for the proposed work and the great advantage it will be to all settlers in that part of the district the Board hopes the Government will see its way to grant a substantial amount towards the cost. Unless the road is widened the large expenditure now being incurred by the Board and its lessees will be in vain. Settlement on all the lands sold and leased by the Board has been extremely satisfactory, and on this block is progressing vigorously and successfully. Large areas have already been cleared, and there is every prospect that the whole of the northern part of the block will by next season be in profitable working. This applies in even a greater degree to the Board's leaseholds in Mangapoike, on which very large sums are being spent in improvements, and within a very short time the whole of the block will be in profitable occupation. Here, as in Tahora, the drawback is the want of roading, to remedy which the settlers are prepared to spend a considerable sum, and as the road will be the main road between Gisborne and Wairoa, the Board would respectfully urge that this also is a case which should commend itself to the Government as one worthy of prompt assistance. The success of the Board's operations is largely due to the strong position it has always held in being able to give valid titles. Frivolous and vexatious actions have been threatened, which, whatever the ultimate result, would, if carried to an issue, have cost the Board considerable sums! None of the cases, however, were brought into Court. The statements of accounts show the receipt of the further concession promised by the bank in the event of prompt payment of the debt, that temporary mortgages to the extent of £5,000 have been paid off, and that the item " Claims on the Trustees " in connection with the earlier management of the Trust estate no longer appears as a liability, all ascertained claims having been liqui-

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dated. The interest paid amounts to a large sum —£1,685 11s. Bd.; but the blocks for the benefit of which the mortgage advances were obtained all show a surplus for the year after payment of interest and expenses, and their redemption is only a matter of time. The estimated net surplus at date is £175,811. We have, &c, J. Macfahlane, Chairman. W. Shrimp ton ).., , J. A. Harding, (Members. The Hon. the Minister of Native Affairs, Wellington.

Schedule of Lands held by the East Coast Native Trust Lands Board as at 25th August, 1906.

Remarks. Maraetaha No. 2, Sections S and 6, is distant about twenty miles from Gisborne. Unimproved. Good pastoral country. Will be available for lease or for occupation by Natives on adjustment of interests as between the.various blocks in the estate. Mangapoike No. 2. —-A portion of the 4,424 acres reserved for Natives is partly improved and in the occupation of Natives. The 5,079 acres held for disposal are unimproved, and in the meantime are reserved for lease at a future date or for occupation by Natives. All lessees are rapidly effecting first-class improvements and stocking their holdings. Mangaokura.— Unimproved. Adjoining Crown timber reserve. At present chiefly valuable for its timber. Mangatu Nos. 5 and 6. —-Unimproved heavy bush pastoral country of average quality. At present inaccessible for want of road access. Unsuitable for settlement in small areas, but as settlement is rapidly advancing in the direction of these blocks it may be possible in the near future to bring them into profitable pastoral occupation. Maungawaru Nos. 2 and 3. —Unimproved. Very broken, mixed quality. Only suitable for pastoral occupation in large areas. At present entirely without road access. Mangaheia 2d. —Improved pastoral and agricultural land, mostly of excellent quality. All leased. Lessees are effecting further improvements. After payment of interest and other outgoings, part of the rent is paid over to the beneficiaries ; the balance is applied towards a sinking fund in redemption of mortgage for £11,000 raised by the Board to pay off the old debt to the bank, and for the expenses of subdivision. Paremata. —Mostly well-improved pastoral country. Rents are applied in payment of interest and towards a sinking fund for redemption of mortgage for £3,000 raised by Board to assist in paying off the bank's claim on the block. Pakowhai. —Improved agricultural land, let on a quarterly tenancy. Te Kuri and Tangotete Nos, J and 2, —-Valuable agricultural land, partly improved by and in the occupation of Natives,

Areas. Lands held. Held for Future Disposal. Capital Value. Present Annual Rental. Total. Reserved for Natives. Leased. Maraetaha No. 2, Section 3.. ,, 6.. Mangapoike No. 2.. Mangaokura No. 1.. Mangatu No. 5 .. „ No. 6 .. Maungawaru No. 2 No. 3 Mangaheia No. 2d Paremata Pakowhai Te Kuri Tangotete No. 1 .. No. 2 .. Taliora No. 2 Tawapata South No. 1 Whangawehi Lα .. K - J ,, Iβ and lc 32g .. Acres. 2,050 2,648 37,721 2,027 20,075 20,075 14,802 18,720 5,997 2,498 374 400 5 75 51,104 4,376 £980 1,204 [J 10 Acres. 4,424 f. . 50 Acres. 28,218 5,997 2,448 374 Acres. 2,050 2,648 5,079 2,027 20,075 20,075 14,802 18,720 £ 3,100 7,300 34,000 2,000 10,000 10,000 5,500 7,000 35,000 7,800 1,600 6,000 75 1,125 43,000 12,000 2,500 3,000 450 £ 1,224 1,759 405 60 400 5 75 22,045 18,259 4,376 980 1,204 10,800 560 600 60 60 10 185,141] 26,999 61,856 96,286 191,450 4,728

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Tahora No. 2.. —All leaseholds, are being well improved, and will be,carrying stock within the next year. 10,800 acres will be offered for lease immediately on completion of survey now in hand. Tawapata South. —Pastoral land, partly improved; further improvements are being effected by the lessee. Rental is applied in payment of interest and outgoings and towards a sinking fund for redemption of mortgage for £6,000 raised by Board to pay off the bank's claim on the block. Whangawehi La.—Partly improved pastoral country. Held under old lease. Rental applied in payment of interest on mortgage raised to pay off bank claim. Whangawehi lb and lc. —Partly improved pastoral country. Held under old lease. Rental placed to credit of block pending an adjustment of interests.

Abstract of Receipts and Payments of the East Coast Native Trust Lands Board from Date of the Appointment of the Board to the 25th August, 1906. Receipts. £ s. d. Payments. . £ s. d. Sales of freehold— Bank of New Zealand, on account of a debt 117,416 12 8 Secured to Bank of New Zealand . . 103,646 15 2 Amount lodged with Bank of New Zealand Not secured to the bank . . . . 12,667 18 0 as security for old law-costs .. .. 1,750 0 0 Sums raised on mortgage . . .. 33,742 8 4 Trustees' liabilities paid off .. .. 21,031 10 8 Bank of New Zealand— . . Mortgage advances repaid 7,742 8 4 Final rebate oft debt .. . . 5,000 0 0 Rents paid to beneficiaries .. .. 901 15 2 Surplus on produce-consignments and Subdivision expenses and improvements.. 4,399 2 9 sundries .. .. .. 691 1 11 Sale-expenses .. .. . . 1,438 0 6 Repayment of amount lodged with bank Rates .. .. .. .. 519 8 2 as security for old law-costs .. .. 1,750 0 0 Interest .. ... .. .. 3,363 17 6 Rents .. .. .. .. 7,497 9 5 Law-costs .. .. .. .. 993 14,-3 Interest on purchase-moneys .. . . 2,328 16 10 Salaries, members of Board .. .. 3,400 0 0 Refunds— „ office .. . . . . 708 6 8 Roading and improvements .. .. [187 18 0 Travelling-expenses .. .. .. 211 6 8 Sale-expenses .. .. .. ' 100 0 0 Office expenditure and audit .. .. 67 18 5 Rates and sundries .. .. .. 134 111 Contractors' deposits repaid .. .. 60 0 0 Contractors' deposits .. .. .. ! [60 0 0 164,004 1 9 Balance, cash in Bank of New Zealand .. 3,702 7 10 £167,706 9 7 £167,706 9 7 Freeholds. —After sale of the freeholds as shown, the Board still holds for the sole benefit of the Native owners lands of an estimated net value of £175,811. Bank Debt. —At the 30th January, 1904, the amount owing to the bank was £159,029 2s. 4d., off which a rebate of £20,000 was allowed by the bank; £117,416 12s. Bd. was paid by the Board in cash as shown; the balance was liquidated by proceeds of sales of live-stock and produce not included in the bank's accounts, which deal only with the land. After payment of the debt the bank made the further final rebate of £5,000 shown above, and on realisation paid over the surplus of £691 Is. lid. on produce-consignments and sundries. J. Maofaelane, Chairman. W. Shrimpton, )A, , J. A. Harding, [ Members - Gisborne, 25th August, 1906. T. A. Coleman, Secretary.

Statement of Receipts and Payments of the East Coast Native Trust Lands Board from the Ist August, 1905, to the 25th August, 1906. Receipts. £ s. d. Payments. £ s. d Sale of freehold not secured to the Bank of Balance, 31st July, 1905 .. 350 8 7 New Zealand —Maraetaha No. 2, part Mortgages paid off .. .. . . 5,000 0 0 Sections 3 and 6 .. .. .. 4,598 0 0 Subdivision expenses and improvements— Purchase-moneys for sales of freehold as per Mangaheia 2d .. .. .. 108 4 8 former accounts .. .. .. 2,265 11 11 Matawhero Nos. 1 and 5 .. .. 120 14 0 Rents— Pakowhai .. .. . . .. 414 3 Paremata .. .. .. .. 405 510 Mangapoike .. .. .. 477 210 Mangapoike No. 2 .. .. .. 1,426 19 7 Tahora No. 2 .. . . . . 541 15 S Mangaheia 2d .. .. .. 1,756 7 1 Sale-expenses, valuations, and sundries .. 85 6 6 Tawapata South No. 1. . .. .. 782 9 4 Rents paid to Native owners . . 621 10 ! Pakowhai .. .. .. .. 60 0 0 Payments on account of Trustees' liaWhangawehi lα, Iβ, lc .. .. 118 2 6 bilities .. .. .. .. 4,359 010 Moutere No. 2 .. .. .. 117 6 Rates . . .. .. .. 58 19 4 Tahora No. 2 .. .. .. 361 13 3 Interest .. .. .. .. 1,685 11 8 Interest on purchase-moneys .. .. 629 15 8 Law-costs . . . . . . '14 17 0 Bank of New Zealand— Salaries, members of Board . . .. §700 0 0 Rebate off debt .. .. .. 5,000 0 0 „ office .. .. . . JV2I6 13 4 Surplus on realisation of produce and Travelling-expenses . . .. . . 21 8 0 sundries .. .. .. .. 691 11] Audit and office expenditure .. .. 28 10 2 Balance, bank credit, 25th August, 1906 .. 3,702 710 £18,097 4 7 &mm~~l J. Macfarlane, Chairman. J. A. Harding, Member. Gisborne, 25th August, 1906. T. A. Coleman, Secretary. Examined and found correct. — J, Standtmann, F.I.A.N.Z.

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Statement of Liabilities and Assets of the East Coast Native Trust Lands Board as at the 25th August, 1906. Liabilities. £ s. d. Assets. £ s. d' Mortgages secured on freeholds.. .. 26,000 0 0 Freehold lands;; .. .. .. 191,450 0 0 Accrued interest on freeholds .. .. 326 9 1 Balance of purchase-moneys on sales of Sundry creditors .. .. .. 2,256 0 0 freehold properties .. .. .. 8,131 2 1 Accrued interest on ditto .. .. 64 10 5 28,582 9 1 Eents due and accrued .. .. 1,045 9 3 Surplus .. .. ..' .. 175,811 0 6 Cash in Bank of New Zealand .. .. 3,702 7 10 £204,393 9 7 £204,393 9 7 J. Maofarlane, Chairman. J. A. Habding, Member. Gisborne, 25th August, 1906. T. A. Coleman, Secretary. Examined and found correct. — J. Standtmann, F.I.A.N.Z. Approximatt Coat of Printing.— Preparation, not given; printing (1,400 oopie»), «91*».

By Authority : John Mackay, Government Printer, Wellington.—l9o6,

Price 3d,]