Papers Past | Parliamentary Papers | Appendix to the Journals of the House of Representatives | 1925 Session I | BALANCE-SHEETS AND STATEMENTS OF ACCOUNTS OF...

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B.—l [Pt. IV, Supplementary] .

1925. NEW ZEALAND

BALANCE-SHEETS AND STATEMENTS OF ACCOUNTS OF VARIOUS GOVERNMENT DEPARTMENTS. AUDITED ACCOUNTS.

CONTENTS. For Year 1923-24. PAGE PAGE Mental Hospitals Department. .. .. .. 3 | Native Land Settlement Account .. 6 For Year 1924-25. Audit Department .. .. .. 8 Public Trust Office .. .. .. .. 47 Bank of New Zealand Shares Account .. .. 9 Railways .. .. .. .. .. 49 Orown Law Office .. .. .. ..10 Railways Superannuation Fund.. .. ..55 Discharged Soldiers Settlement Depreciation Fund 11 Reserve Fund Account .. .. .. 56 Electric Supply Account .. .. 12 Samoan Loan Suspense Account .. .. 57 Waikaremoana .. .. .. 16 Samoan Loan Sinking Fund .. .. .. 57 Lake Coleridge .. .. .. 17 Stamp Duties Department .. .. .. 58 Waikato—Horahora .. .. 22 State Advances Office .. .. .. 59 Ellesmere and Forsyth Reclamation and Akaroa Settlers .. .. .. .. .. 59 Railway Trust Account .. .. .. 28 Workers .. .. .. .. .. 60 General Purposes Relief Account .. .. 29 Local Authorities .. .. .. 61 German Dyes .. .. .. 35 Public Debt Sinking Fund .. .. .. 62 Government Accident Insurance Department .. 30 Advances Office Sinking Funds .. .. 63 Government Fire Insurance Fund .. .. 31 Miscellaneous Business .. .. 64 Government Life Insurance Department.. 32 Housing .. .. .. .. 64 Hunter Soldiers' Assistance Trust Account .. 34 Loans to Employers for Workers' Dwellings .. 65 Industries and Commerce Department .. .. 35 Fruit-preserving Industry Advances .. .. 66 Justice, Department of .. .. .. 36 Cold-storage Advances .. .. .. 67 Main Highways Account .. .. .. 37 Fishing Industry Promotion .. .. 68 National Provident Fund .. .. .. 40 State Coal-mines .. .. .. .. 69 Native Trust Office .. .. .. 41 State Fire Insurance Office .. .. 74 Naval Defence .. .. .. .. 42 Teachers' Superannuation Fund .. .. 75 New Zealand Consols Account .. .. .. 43 Treasury Department .. .. .. .. 76 Printing and Stationery Department .. ..44 Valuation Department.. .. .. ..77 Public Service Superannuation Fund .. 46 | Westport Harbour Account .. .. .. 78

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Under Audit, Agriculture Department. Mines Department. Cheviot Estate Account. Mining Advances Account. Cook Islands Department. National Endowment Account. Customs Department. National Endowment Trust Account. Defence Department. ' National Provident and Friendly Societies Department. Discharged Soldiers Settlement Account. ! Native Department. Education Department. Nauru and Ocean Islands Account. Education Reserves (Primary). i Pensions Department. Education Reserves (Secondary). Police Department. Electoral Department. Post and Telegraph Department. External Affairs Department. ' Public Service Commissioner's Office. Hauraki Plains Settlement Account. Rangitaiki Land Drainage Account. Health Department. Repatriation. Immigration Department. Rotorua College and Grammar School Deposit Account. Internal Affairs Department. Scenic Reserves. Kauri-gum Industry Account. Special Coal Rate, Greymouth Harbour Board. Labour Department. State Forest Service. Land and Deeds Department. Swamp Land Drainage Account. Land and Income Tax Department. Tongariro National Park. Land for Settlements Account (Discharged Soldiers Tourist Department. Settlement Account). Waihou and Ohinemuri Rivers Improvement Account. Legislative Department. War Expenses Account. Marine Department. Wheat, Purchase of. Mental Hospitals Department. Outstanding, Land for Settlements Account. Prisons Department. Lands and Survey Department. Public Works Fund. Native Land Settlement Account.

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MENTAL HOSPITALS DEPARTMENT. Institutional Accounts for the Year ended 31st March, 1924.

• Auckland. Christchurch. Dunedin. Hokitika. | Kelson. Porirua. j Tokanui. Totals. Expenditure. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. Salaries .. .. 23,062 8 528,398 11 441,844 2 010,860 13 210,291 2 435,494 3 3. 8,737 5 3 158,688 5 9 Advertising .. .. 25 1- 6 26 0 8 29 18 10; 6 18 0 7 9 6 14 1 2 : 8 15 7 118 5 3 Buildings, repairs, &c. .. 6,566 0 10 1,424 13 1 4,635 18 1 510 6 11 901 16 8 1,965 0 10 309 9 3 16,313 5 8 Dental services .. .. 1 13 6 155 10 0 18 13 0 72 17 6 .. 9 18 o; 0 10 0 259 2 0 Fencing, draining, roading.&e. 9 4 0 .. 210 13 3 19 7 9 .. 85 4 4 3 10 5 327 19 9 Freights, cartages, &c. .. 1 3 2 77 17 10 .. 81 11 4 84 13 9 201 10 5! .. 446 16 6 Fuel, light, water, &c. .. 5,012 0 4 5,804 6 1 5,511 4 11 642 3 8 1,657 12 3 4,284 7 4 1,402 18 9 24,314 13 4 Funeral services expenses .. 90 15 9 93 0 0 20 0 0 9 0 0 72 5 0 63 0 0 20 9 6 368 10 3 Furniture and fittings .. 89 11 8 .. 125 17 8 7 18 3 .. .. .. 223 7 7 Gardens and shrubberies .. 3 1 11 98 16 0 18 7 2 .. 15 19 8 17 5 8 9 9 6 162 19 11 Laundry expenses .. 581 18 11 608 5 7 1,685 0 7 1,171 17 3 227 15 6 439 2 8 193 18 11 4,907 19 5 Law-costs .. .. 13 19 0 .. 4 4 0 . . 1 1 0 .. .. 19 4 0 Machinery repairs, &c. .. 305 10 5 449 0 10 679 12 11 47 1 8 82 10 2 629 11 3 206 14 5 2,400 1 8 Maintenance of motor-vehicles .. 35 12 0 118 18 1 87 5 0 86 11 7 185 12 2 0 8 0 514 6 10 Medical fees .. .. 251 13 0 153 13 6 143 2 6 51 6 6 30 0 0 275 18 6 15 16 6 921 10 6 Nursing staff uniforms, &c. 401 12 2 571 8 4 908 14 3 171 6 0 175 19 2 645 2 3 164 13 2 3,038 15 4 Patients'recreation .. 1,436 7 8 1,362 2 4 2,389 16 3 485 9 0 638 18 10 1,410 14 4 484 17 8 8,208 6 1 Postages and telegrams .. 61 3 0 76 0 11 124 6 0 34 16 10 25 18 11 82 5 3 27 6 1 431 17 0 Printing and stationery .. 68 18 2 141 1 7 173 3 6 43 18 4 51 12 3 120 14 10 47 19 4 647 8 0 Rations .. .. 13,992 10 1 13,482 10 1 18,968 10 7 3,934 9 2 3,886 15 813,902 15 8 1,668 1 10 69,835 13 1 Surgery and dispensary: 415 19 9 521 6 9 777 7 9 116 4 5 188 4 4 858 0 11 161 8 1 3,038 12 0 Drugs, wines, &c. Stores and equipment .. 3,434 11 9 4,195 15 7 6,072 3 6 1,097 19 4 658 14 10 6,314 15 2 598 17 10 22,372 18 0 Telephone services .. 47 19 3 76 8 5 115 1 9 14 15 3 60 9 2 253 19 4 16 19 2 585 12 4 Travelling-expenses .. 103 10 11 109 2 8 219 14 11 59 17 5 50 3 7 74 13 10 144 12 9 761 16 1 Treatment in general hos- .. 22 12 6 22 17 6 98 14 0 63 4 0 13 8 6 .. 220 16 6 pitals Farm produce consumed .. 2,562 13 5 5,156 1 11 6,709 16 6 603 16 11 2,029 4 10 3,736 11 9 3,665 4 4 24,463 9 8 Office equipment .. 910 3 13 6 737 0 11 2 0 17 6 0 10 6 230 24 03 Head Office administration 1,142 7 3 846 9 7 1,182 5 3 256 19 4, 330 7 8 1,180 2 0 274 3 10 5,212 14 11 expenses Official visitors .. .. 50 8 0 .. 52 10 0 8 8 0 .. .. .. 111 6 0 Sundries .. .. 050 .. .. .. .. 010 .. 060 Bacteriological research .. .. .. 700 0 12 6 .. .. .. 7 12 6 Depreciation .. .. 3,534 4 0 3,816 19 0 3,392 11 0 489 15 10 942 16 10 3,344 0 10 1,949 7 I 17,469 14 7 63,275 13 1067,707 0 1 96,168 15 420,986 0 622,562 5 075,602 11 920,115 0 3366,417 6 9 Balance carried down .. 45,145 15 848,465 17 172,445 1 218,925 7 617,090 11 152,031 18 417,158 0 11271,262 11 9 Interest on capital .. 7,139 7 3 7,535 19 2 6,643 17 2 747 19 7 2,169 17 3 6,427 19 6 4,764 18 1 35,429 18 0 52,285 2 1156,001 16 379,088 18 419,673 7 1 19,260 8 458,459 17 1021,922 19 0306,692 9 9 Income. Maintenance fees ' .. 17,865 12 817,613 9 921,411 11 2 1,809 17 0 5,299 3 523,185 2 11 2,636 0 11 89,820 17 10 Board and lodging . . 13 9 6 135 13 4 424 9 0 44 7 6 30 13 6 173 8 1 95 8 6 917 9 5 Freights and cartages . . .. .. 50 2 41 .. .. .. 2 13 5 52 15 9 Offal (institution) .. 68 16 4 1,453 13 3 1,755 7 5' 166 8 6 27 15 1 85 9 10 .. ; 3,557 10 5 Rents, &c. .. .. .. 18 6 8 27 5 6 .. 114 1 11 89 15 11 222 16 6| 472 6 6 Sacks (institution) .. 17 4 8 .. 1 13 9! .. j .. 36 16 8 .. i 55 15 1 Sales of road-metal .. 164 15 0 .. .. •• •• .. 164 15 0 Sales of firewood .. .. .. 35 5 0; .. .. .. .. 35 5 0 Vehicles manufactured .. .. 20 0 0 18 0 0 40 0 0 .. .. .. 78 0 0 Balance carried down .. .45,145 15 848,465 17 172,445 1 218,925 7 617,090 11 152,031 18 417,158 0 11271,262 11 9 63,275 13 1067,707 0 196,168 15 420,986 0 622,562 5 075,602 11 920,115 0 3366,417 6 9 Net profit from farm .. 1,408 14 6 3,714 4 1 2,452 15 10 129 7 9 1,640 14 1 3,663 17 9 8,019 4 7 21,028 18 7 Excess expenditure over in- 50,876 8 552,287 12 276,636 2 619,543 19 417,619 14 354,796 0 113,903 14 5285,663 11 2 come 52,285 2 1156,001 16 379,088 18 419,673 7 119,260 8 458,459 17 1021,922 19 0306,692 9 9

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MENTAL HOSPITALS DEPARTMENT—continued. Farm Working Accounts for the Year ended 31st March, 1924.

Auckland. Christchurch. Dunedin. j Hokifcika. Nelson. Porirua. Tokanui. Totals. I I I I i Expenditure. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. Live-stock, 1st April, 1023 1,601 4 0 3,898 19 0 5,073 16 0 343 4 0 1,535 15 0 3,830 10 0 3,705 5 0 19,988 13 0 Purchases of live-stock .. 101 18 3 854 0 1 57 3 6 241 16 6 490 15 3 72 3 3 1,313 1 3 3,130 18 1 Salaries and wages .. 1,440 0 0 2,265 4 1 4,238 0 0 475 0 0 1,958 16 5 1,680 16 0 2,597 4 8 14,655 1 2 Feed .. .. .. 359 3 10 476 1 1 2,239 5 7 180 0 6 475 0 5 1,134 11 3 .. 4,864 2 8 Seeds, manures, &c. .. 206 7 10 253 11 2 281 4 9 102 10 0 185 17 11 280 13 5 1,539 1 6 2,849 6 7 Implements, harness, repairs 175 11 1 195 2 9 143 15 3 28 17 0 223 4 2 147 11 5 676 3 7 1,590 5 3 Fencing, draining, and road- 2 11 2 218 4 2 59 13 4 .. 32 17 2 144 14 11 16 11 3 474 12 0 ing Railages .. .. 14 5 1 8 12 2 216 9 10 9 9 8 73 8 10 .. 94 14 11 417 0 6 Rents, rates, &c. .. .. 1,630 7 9 190 9 3 .. .. .. .. 1,820 17 0 Repairs to farm buildings .. .. 74 12 4 .. .. 790 .. 9311 91 53 Harvesting .. .. .. 313 2 6 .. .. 82 13 11 .. 48 11 8 444 8 1 Cereals, seeds, &c. .. .. .. .. .. .. 9 16 0 .. 9 16 0 Sundries .. .. .. 189 4 4 244 15 2 30 3 7 28 13 5 18 4 2 50 14 3 561 14 11 Profit carried down .. 1,487 1 9 3,907 17 10 2,700 8 5 146 8 2 1,731 1 6 3,845 15 1 8,199 13 11 22,018 6 8 5,388 3 014,284 19 3 15,445 1 1 1,557 9 5 6,825 13 011,164 15 618,250 5 11 72,916 7 2 Interest.. .. .. 78 7 3 193 13 9 247 12 7 17 0 5 90 7 5 181 17 4 180 9 4 989 8 1 Net profit to Institutional 1,408 14 6 3,714 4 1 2,452 15 10 129 7 9 1,640 14 1 3,663 17 9 8,019 4 7 21,028 18 7 Accounts 1,487 1 91 3,907 17 10 2,700 8 5 146 8 2 1,731 1 6 3,845 15 1 8,199 13 11 22,018 6 8 Income. Sales of live-stock .. 748 13 11 2,432 16 11 1,116 17 1 135 18 9 402 15 5 1,534 18 5 1,406 4 5 7,778 4 11 Butterfat .. .. 100 18 9 .. j 1,001 9 6 .. 408 3 6 1,092 13 1 1,217 10 2 3,820 15 0 Fruit and vegetables .. 831 5 5 1,647 16 5 1,791 5 7 258 19 2 974 19 2 1,028 16 8 771 2 8 7,304 5 1 Meat .. .. .. 163 10 4 32 8 10 1,006 0 8 8 3 9 507 13 3 106 7 9 1,533 13 0 3,357 17 7 Milk and cream .. .. 1,267 19 5 2,578 11 11 2,107 12 1 322 19 0 581 11 6 1,081 18 3 574 9 8 8,515 1 10 Poultry and eggs.. .. 198 6 8 883 16 1 1,498 16 4 14 17 6 316 1 9 566 6 4 38 9 6 3,516 14 2 Prize-money .. .. 33 2 0 .. 3 16 0 9 4 3 .. 72 10 0 .. 118 12 3 Offal (farm) .. .. 15 16 9 190 3 5j 151 9 11 1 3 0 270 14 11 63 2 5 370 16 4 1,063 6 9 Sacks (farm) .. .. .. .. 84 16 11 .. .. 11 9 7 .. 96 6 6 Cereals, seeds, &c. .. .. 662 3 5 0 14 8 .. 49 3 6 .. 684 2 2 1,396 3 9 Grazing .. .. .. .. j 550 .. .. .. 42 10 47 60 Honey .. .. .. 16 13 9 .. j 1 15 0 .. .. .. .. 18 8 9 Harvesting .. .. .. .. .. .. . . 14 0 0 .. 14 0 0 Live-stock, 31st March, 1924 1,456 16 0 3,959 5 Oj 4,923 19 0 517 4 0, 2,376 0 0 4,362 13 0 8,028 7 0:25,624 4 0 Stored and growing crops, 555 0 0 1,897 17 3; 1,751 3 4 289 0 0 938 10 0 1,230 0 0 3,583 10 0 10,245 0 7 31st March, 1924 ! | ! 5,388 3 014,284 19 315,445 1 1 1,557 9 5 6,825 13 011,164 15 618,250 5 11 72,916 7 2 Profit brought down .. 1,487 1 9 3,907 17 10 2,700 8 5 146 8 2 1,731 1 6: 3,845 15 1 8,199 13 11 22,018 6 8

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MENTAL HOSPITALS DEPARTMENT—continued. Income and Expenditure Account tor the Year ended 31st March, 1924. To Institutional accounts — £ s. d. By Balance (excess expenditure over £ s. d. Auckland .. .. .. 50,876 8 5 income) .. .. .. 286,312 13 7 Christchurch .. .. .. 52,287 12 2 Dunedin .. .. .. 76,636 2 6 Hokitika .. .. .. 19,543 19 4 Nelson.. .. .. .. 17,619 14 3 Porirua .. .. .. 54,796 0 1 Tokanui .. .. .. 13,903 14 5 Interest on Wellington land .. 465 2 5 Head Office rent unapportioned .. 184 0 0 £286,312 13 7 £286,312 13 7 Balance-sheet as at 31st March, 1924. Liabilities. £ s. d. £ s. d. Capital Account .. .. .. 819,832 14 8 Land .. .. .. .. 161,776 0 0 Sundry creditors .. .. .. 9,956 12 5 Buildings .. .. .. 489,292 0 0 Depreciation reserve .. .. 34,268 3 3 Developmental .. .. .. 3,261 15 6 Treasury Adjustment Account .. 299,224 15 3 Improvements .. .. .. 81,694 7 5 Furniture and fittings .. .. 18,296 10 6 Plant and machinery .. .. 278 11 0 Motor-vehicles .. .. .. 3,035 0 0 Other vehicles .. .. .. 954 0 0 Loose and artisans'tools .. .. 1,911 12 3 Farm implements .. .. 2,431 11 9 Stores and equipment .. .. 76,411 6 0 Live-stock .. .. .. 25,624 4 0 Sundry debtors .. .. .. 1,336 16 4 Expenses paid in advance .. .. 420 16 8 Stored and growing crops .. .. 10,245 0 7 Excess expenditure over income .. 286,312 13 7 £1,163,282 5 7 £1,163,282 5 7 W. Riach, Accountant. I hereby certify that the Income and Expenditure Account, Farm Working Accounts, Institutional Accounts, and balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, except that— (1.) No charges have been included for wages of inmates engaged on the farms. (2.) Pending a detailed valuation of the land, buildings, and improvements comprising the farms, the correct charge for interest and depreciation cannot be ascertained. (3.) The valuations of land, buildings, and improvements are incomplete. (4.) The valuations of live-stock have been made by the Head Office. (5.) The income from maintenance fees does not represent the earnings for the year, and the outstandings at the end of the year have not been correctly stated. (6.) The accounts include charges against the Department for rent, interest, and land, &c., for which the Department possesses no appropriation by Parliament. J. H. Fowler, Deputy-Controller and Auditor-General.

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NATIVE DEPARTMENT.—NATIVE LAND SETTLEMENT ACCOUNT. Receipts and Payments Account foe the Year ended 31st March, 1924. Receipts. Payments. Balance, Ist April, 1923 — £ s. d. £ 8. d. Payments on account of proclaimed £ s. d. £ s. d. Investment Account .. .. 20,000 0 0 lands— Cash in Public Account .. 9,720 3 1 Charges on rents receivedImprests outstanding .. 489 8 6 Refunds of rents .. .. 1,502 7 7 30,209 11 7 Loan deductions (principal Receipts by Lands Department— and interest) on account of Rents, royalties, and interest .. 57,711 6 1 roading, &c. .. .. 5,496 17 0 Sales of land .. .. 30,342 14 6 " Thirds" to local bodies .. 4,971 8 3 Survey liens .. .. 14,814 10 0 11,970 12 10 102,868 10 7 Other payments — Repayment of Advances to Maori Refund of deposits on sales .. 2,934 1 3 Land Boards — Compensation for roads taken, &c. 122 11 2 Principal .. .. .. 7,403 16 1 Cost of surveys of Urewera and Interest .. .. .. 868 6 3 j other blocks .. .. 9,113 16 5 , — 8,272 2 4 Cost of surveys secured by liens, Interest on securities held on j &c. .. .. .. 25,245 0 4 investment .. .. .. 247 8 11 Refunds of survey liens .. 6 15 5 Loans raised —- Administration expenses of above Proceeds of debentures issued 220,000 0 0 (Lands Department) .. 6,799 15 4 Proceeds of inscribed stock issued 100,144 0 2 44,221 19 11 — 320,144 0 2 Payments on account of unproelaimed land — Purchase-money .. .. 207,976 5 2 Purchase expenses .. .. 5,726 0 4 213,702 5 6 Recoupments to Consolidated Fund—■ Loans redeemed (Native Land Settlement Account) .. 21,100 0 0 Loans redeemed (Maori Land Settlement Account) .. 1,500 0 0 Charges and expenses of redemption •. .. .. 164 11 3 Management charges of stock .. 157 9 9 Stamp duty on transfers of stock 144 0 2 Interest on loans .. .. 133,640 16 8 Sinking-fund instalment .. 5,989 13 1 162,696 10 11 Balance, 31st March, 1924— Cash in Public Account .. 29,118 12 1 Imprests outstanding .. 31 12 4 — 29,150 4 5 £461,741 13 7 £461,741 13 7 Interest Account for the Year ended 31st March, 1924. Expenditure. Revenue. £ s. d. £ s. d. £ s. d. Interest on amounts held in Investment Account.. 89 12 9 Interest on loan capital .. 138,140 5 5 Interest on advances to Maori Land Boards .. 849 13 4 Less amount transferred to Interest on survey liens .. .. .. 8,331 7 6 block accounts as part of Interest on unpaid principal of land-sales .. 1,000 1 6 purchase costs .. .. 12,756 8 6 Balance carried down .. .. .. .. 115,235 8 3 125,383 16 11 Interest on balance of amount transferred from Maori Land Settlement Account, 1913-14 .. 122 6 5 £125,506 3 4 £125,506 3 4 Revenue Account for the Year ended 31st March, 1924. Expenditure. Revenue. £ a. d. £ s. d. £ s. d. Rents .. .. .. .. .. 62.918 0 2 Balance of Interest Account .. .. 115,235 8 3 Royalties .. .. .. .. .. 600 0 0 Charges on rents — Balance —excess of expenditure over income for " Thirds" to local bodies .. 4,971 8 3 year—carried to Net Revenue Account .. 83,066 6 6 Loan deductions (principal and interest) to Consolidated Fund and Lands for Settlement Account to repay cost of roading, &c. .. .. .. 5,776 17 0 Rebates of rents.. .. .. 1,795 19 6 Remission of rents .. .. 2,684 9 8 Irrecoverable rents .. .. 4,489 10 11 Reserve for irrecoverable rents .. 4,000 0 0 23,718 5 4 Administration expenses (Lands Department) .. .. .. 6,646 0 1 Miscellaneous expenses (Lands Department) .. .. .. 112 11 10 Administration and other expenses (Native Department) .. .. 407 0 0 7,165 11 11 Loan expenses — Stamp duty on transfers of stock.. 144 0 2 Management oharges of stock .. 157 9 9 Expenses of redemptions .. 163 11 3 465 1 2 £146,584 6 8 £146,584 6 8 Net Revenue Account. Expenditure. £ s. d. Revenue. £ s. dBalance at Ist April, 1923 .. .. .. 222,982 14 4 Adjustments (1923-24) on account of previous Net loss for year ended 31st March, 1924 .. 83,066 6 6 years .. .. .. .. .. 49,976 12 9 Instalment to sinking fund under Public Debt Balance at 31st March, 1924 .. .. .. 262,062 1 2 Extinction Act, 1910 .. .. .. 5,989 13 1 £312,038 13 11 £312,038 13 11

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NATIVE DEPARTMENT—NATIVE LAND SETTLEMENT ACCOUNT—continued. Balance-sheet as at 31st Mabch, 1924. Liabilities. Astett. £ s. d. £ s. d. Land— £ s. d. £ s. d. Loans—Capital .. .. .. 3,359,426 9 0 Blocks fully acquired and pro - Liabilities to other accounts — claimed .. .. 2,074,394 8 5 Public Works Fund—Advances West Coast Settlement blocks to Maori Land Board repaid 349 9 11 fully acquired and proConsolidated Fund —Interest on claimed .. .. 47,978 14 5 advances to Maori Land Board Blocks partly acquired .. 604,511 5 3 and interest on amount from Interest during purchase on Maori Land Settlement Ac- unleased partly acquired count .. .. .. 2,261 910 blocks .. .. .. 56,829 6 4 Maori Land Settlement Account 2,343 Oil Preliminary expenses on lands 4,954 0 8 under negotiation for purReserves —Capital — chase .. .. .. 1 17 6 Appreciation of assets (land 2,783,715 11 11 proclaimed and lands sold) .. 29,900 4 5 Surveys in progress — Reserves —Revenue — Survey liens in suspense .. 4,244 17 6 Sinking funds (as per contra) .. 32,310 15 2 Survey accounts —Urewera-— Writings-off in suspense (as per Urewera Blocks .. .. 18,656 14 3 contra) .. .. .. 5,593 17 6 Wharepuhunga Block .. 4,920 17 7 Irrecoverable rents .. .. 4,000 0 0 Hauhungaroa Block .. 3,148 19 5 Depreciation, motor-vehicle .. 85 15 0 Rangitoto-Tuhua Blocks .. 106 9 6 ——— — 71,890 12 1 Miscellaneous blocks .. 919 3 9 Sundry creditors — t 31,997 2 0 Lands Department — Miscel- Motor-car .. .. .. .. 245 0 0 laneous .. .. .. 2,303 2 10 Principal instalments not yet Native Department—Purchase- payable— money deductions .. .. 2,532 8 2 Purchase-money of buildings 1,923 1 11 Native Department—Miscel- Purchase-money of land sales 82,837 17 11 laneous .. .. .. 499 17 11 Maori Land Board Advances — 5,335 8 11 From Native Land SettleDeposits on applications to pur- ment Account .. 16,918 4 3 chase lands .. .. .. 9,564 135 From Public Works Fund 1,360 12 6 Rents paid in advance .. ■■ 315 0 9 103,039 16 7 Lands proclaimed (Suspense Ac- Postponed rent .. .. .. 6,765 4 1 count) being excess of Lands Accrued interest (not yet due) Department's valuations over on advances to Maori Land purchase price not yet appor- Boards .. .. .. .. 168 19 8 tioned .. .. .. .. 33,298 4 2 Survey liens — Amounts receivable on behalf of Principal .. .. 178,274 0 0 other accounts—■ Interest .. .. .. 48,184 710 Public Works Fund—Advances 226,458 7 10 to Maori Land Board .. 1,360 12 6 Sundry debtors— Consolidated Fund—lnterest on Principal instalments— above .. .. .. 25 10 6 Sales of land .. .. 387 1 7 1,386 3 0 Sales of buildings .. 185 16 7 Accrued interest on loan capital Advances to Maori Land not yet due .. .. .. 60,437 2 9 Boards .. .. 177 19 6 Interest on sales .. .. 465 14 0 Interest on advances to Maori Land Boards .. .. 463 17 6 Rents .. .. .. 60,208 4 3 Miscellaneous .. .. 393 14 10 62,282 8 3 Writings-off in suspense —Rents, &c. .. .. ~ 5,593 17 6 Revaluation Board reductions in suspense — Capital .. .. .. 2,400 0 0 Rents .. .. .. 301 6 6 8,295 4 0 Sinking Fund Investment Account — N.Z. State - guaranteed Advances Act, 1909 —Held by Public Trustee .. .. 11,976 15 4 Public Debt Extinction Act, 1910 —Held by State Advances Office .. .. 20,333 19 10 32,310 15 2 Cash held by Loans Stamp Duty Deposit Account .. .. .. 116 19 8 Cash balances— Native Land Settlement Account — Cash in the Public Account 29,118 12 1 Imprests outstanding .. 31 12 4 29,150 4 5 Net Revenue Account — Balance as at Ist April, 1923 173,006 1 7 Excess of expenditure over income for 1923-24 after providing for sinking fund 89,055 19 7 —— — 262,062 1 2 £3,546,607 14 9 £3,546,607 14 9 24th July, 1925. R. N. Jones, Under-Secretary. I hereby certify that the Revenue and Interest Accounts and balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, except that— (1.) The Revenue Account includes rents to 30th June, 1924. (2.) The portion of the accounts dealing with leased lands has been compiled from copies of unaudited journal entries of the District Land Offices. (3.) Certain requirements as regards future balance-sheets and with reference to the deduction from purchase-money payments, and valuation of land handed to the Lands Department, have been communicated to the Native Department. —J. H. Fowler, Deputy Controller and Auditor-General.

AUDIT DEPARTMENT. Income and Expenditure Account for the Year ended 31st March, 1925. Expenditure. £ s. d. i Income. £ s. d. To Salaries .. .. .. .. 36,776 13 11 j By Audit fees.. .. .. .. 19,597 7 10 Audit books and publications .. 43 5 8 ! Excess of expenditure over income .. 25,117 16 6 Allowances to Audit Officers, London .. 117 10 0 Allowances for performing higher duties 5 12 6 Law costs.. .. .. .. 3 3 0 Office fittings and requisites .. .. 43 18 9 Overtime and meal allowances .. 207 19 9 Postages and telegrams and rent of boxes 204 1 10 Printing and stationery .. .. 363 15 7 Rent .. .. .. .. 1,318 14 1 Telephone service .. .. .. 139 2 11 Temporary assistance .. .. 1,041 910 Transfer and removal expenses .. 316 16 8 Travelling expenses .. .. 3,587 15 8 Grant to officer in lieu of leave on retirement .. .. .. 307 10 0 Grant to officer in lieu of transfer expenses .. .. .. .. 40 0 0 Removal of furniture and fittings .. 34 18 0 Depreciation .. .. .. 16112 Furniture and fittings broken —written off .. .. .. .. 1 15 0 £44,715 4 4 £44,715 4 4 £ s. d. £ s. d. To Balance carried down .. .. 25,117 16 6 By Excess of expenditure over income after Interest on capital.. .. .. 97 7 7 charging interest on capital .. ..25,215 4 1 £25,215 4 1 £25,215 4 1 Balance-sheet as at 31st March, 1925. Liabilities. £ s. d. AtseU. £ s. d. Capital .. .. .. .. 2,161 14 2 Furniture and fittings .. .. .. 1,479 6 9 Treasury Adjustment Account .. .. 26,334 811 Books .. .. .. .. 560 3 9 Sundry creditors .. .. .. 381 9 8 Mechanical appliances .. .. .. 250 16 9 Fees paid in advance .. .. .. 54 14 0 Sundry debtors .. .. 1,893 3 6 Depreciation Reserve .. .. .. 565 17 6 Stamps .. .. .. .. 39 17 2 Writings off Suspense Account .. .. 9 7 9 Stationery .. .. .. .. 55 10 0 Expenses paid in advance .. .. 13 10 0 Excess of expenditure over income .. 25,215 4 1 £29,507 12 0 £29,507 12 0 J. H. Fowler, Chief Clerk. I hereby certify that the Income and Expenditure Account and balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, except that the accounts include charges against the Department for assessed rent and interest for which the Department possesses no parliamentary appropriation. —6. F. C. Campbell, Controller and Auditor-General.

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BANK OF NEW ZEALAND SHARES ACCOUNT. Income and Expenditure Account for the Year ended 31st March, 1925. Expenditure. £ s. d. Income. £ s. d. To Interest on consolidated stock .. 32,500 0 0 By Dividends received and declared for Management charges on consolidated year .. .. .. .. 162 ,500 0 0 stock .. .. .. 262 10 0 Balance carried down .. .. 129,737 10 0 £162,500 0 0 £162,500 0 0 £ s. d. £ s. d. To Balance .. .. .. 156,543 10 6 By Balance brought down .. .. 129,737 10 0 Adjustments of amounts charged against revenue in previous years.. 26,806 0 6 £156,543 10 6 j £156,543 10 6 Balance-sheet as at 31st March, 1925. Liabilities. Assets. Capital Account — £ s. d. Bank of New Zealand shares— £ s. d. New Zealand consolidated 500,000 preference A shares stock— £ (nominal value) .. .. 500,000 0 0 3J per cent., 1940 .. 500,000 1,000,000 preference B shares 4 per cent., 1943-63 .. 375,000 (nominal value) .. .. 1,000,000 0 0 Dividends declared but not paid .. 79,166 13 4 875,000 Treasury Adjustment Account .. 84,027 10 11 Ordinary Revenue Account— Investment Account .. 375,000 1,250,000 0 0 Capital Reserve Account .. .. 250,000 0 0 Accrued interest on consolidated stock 6,650 13 9 Balance of Income and Expenditure Account .. .. .. 156,543 10 6 £1,663,194 4 3 £1,663,194 4 3 Accumulated profits to 31st March, 1925, £1,023,175 Is. 7d., credited to Consolidated Fund. A. D. Park, The Treasury, Wellington, Ist June, 1925. Accountant to the Treasury. I hereby certify that the Income and Expenditure Account and balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby. —J. H. Fowler, Deputy Controller and Auditor-General.

2—B. 1 [Pt.IV, Sur.

B.—l [PT. IY, Sup.] .

CROWN LAW OFFICE. Income and Expenditure Account for the Year ended 31st March, 1925. Expenditure. £ s. d. Income. £ s. d. To Salaries .. .. .. .. 4,821 19 3 By Law-costs.. .. .. .. 253 16 1 Annual certificates .. .. .. 26 5 0 Sales of " Tndex to Laws of New ZeaPostages .. .. .. .. 21 15 0 land" .. .. .. .. 93 18 0 Printing and stationery .. .. 212 4 3 Balance carried down .. .. 5,317 2 1 Telephone services .. .. .. 87 1 2 Travelling allowance and expenses .. 310 5 Office fittings and requisites .. .. 2 15 10 Sundry expenses .. .. .. 50 3 2 Special allowance under clause 24a, Public Service Regulations .. 50 0 0 Depreciation Reserve .. £ s. d. Library .. .. 129 13 9 Furniture .. .. 23 8 4 153 2 1 Rent .. .. .. .. 236 0 0 £5,664 16 2 £5,664 16 2 £ s. d £ s. d. To Balance brought down .. .. 5,317 2 1 By Excess of expenditure over income .. 5,925 12 6 Grant to officer on retirement equivalent to salary in lieu of leave .. 477 15 0 Interest on capital .. .. .. 130 15 5 £5,925 12 6 £5,925 12 6 Balance-sheet as at 31st March, 1925. Liabilities. £ s. d. | Assets. £ s d. Capital .. .. .. .. 2,905 19 8 ' Office furniture .. .. .. 312 4 0 Sundry creditors .. .. .. 40 11 6 ; Library— £ s. d. Depreciation reserve .. .. .. 830 18 7 j Ist April, 1924 .. 2,593 15 8 Treasury Adjustment Account .. .. 5,359 5 0 i Plus additions .. 83 11 9 2,677 7 5 j Sundry debtors .. .. .. 201 17 1 ! Expenses paid in advance .. .. 19 13 9 Excess of expenditure over income .. 5,925 12 6 £9,136 14 9 £9,136 14 9 27th July, 1925. Arthur Fair, Solicitor-General. I hereby certify that the Income and Expenditure Account and balance-sheet have been duly examined and compared with the books and documents submitted for audit, and correctly state the position as disclosed thereby, except that the accounts include charges for rent and interest for which the Department possesses no parliamentary appropriation. —J. H. Fowler, Deputy Controller and Auditor-General.

B.— i Pt. IV, Sup.].

DISCHARGED SOLDIERS SETTLEMENT DEPRECIATION FUND. (Established under aeetion 7, Discharged Soldiers Settlement LoansjjAct, 1920.) Income and Expenditure Account foe the Year ended 31st March, 1925. Expenditure. £ s. d. ; Income. £ s . To Excess of income over expenditure .. .. 9,970 1 9 I By Interest on investments .. .. 9,970 ! :i Balance-sheet as at 31st March, 1925. Liabilities. j Assets. £ s d. Accumulated fund — £ s. d. £ , s. d. ; Investments .. .. .. .. 270,250 0 0 Transferred from Consolidated Accrued interest on investments .. .. 3,121 14 0 Fund to 31st March, 1924.. 200,000 0 0 Cash in Public Account .. .. .. 1,484 14 9 Add profit on sale of securities 90 17 3 Excess of income over expenditure to 31st March, 192 .. .. 14,795 9 9 Balance s Fist March, 1924 214,886 7 0 Transferred from Consolidated Fund .. .. .. 50,000 0 0 Excess of income over expenditure for year ended 31st March, 1925 .. 9,970 1 9 274,856 8 9 £274,856 8 9 £274,856 8 9 The Treasury, Wellington, 29 h August, 1925. A. D. Park, Accountant to the Treasury. I hereby certify that the Income and Expenditure Account and balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby. —J. H. Fowler, Deputy Controller and Auditor-General.

13.—1 [PT. IY, SUP.] .

ELECTRIC SUPPLY ACCOUNT. STATEMENT OF ACCOUNTS AT THE 31st MARCH, 1925. General Balance-sheet at 31st March, 1925, compared with Position at 31st March, 1924.

11)23-24. Liabilities. 11)24-2 . 1923-24. j Assets. 1924-25. _ __ . _ - , £ s. d. Aid to Water-power Works and Electric j £ s. d. £ s. d. £ s. d. Lake Coleridge scheme — I £ s. d £ s. d. Supply Accounts — | L ( .i vS 10 Assets as per separate balance-sheet .. 1,078,522 1 2 Debentures issued — Profit and Loss Account —Accumulated 125,000 0 0 At 4 per cent, interest .. .. 125,000 0 0 i?3.i72 'J 7 loss to date .. .. .. 17,738 18 !(> 344,000 0 0 At 4£ per cent, interest .. .. 344,000 0 0 — 1,096,261 0 0 4,000 0 0 ; At 5£ per cent, interest .. .. 4,000 0 0 !j 977, 7tl 18 5 ' 55,750 0 0 At 5 per cent, interest .. .. 55,750 0 0 i N.Z. inscribed stock — Lake Waikaix n.oana scheme — 800,360 0 0 At 5 per cent, interest (due 1930) .. 800,360 0 0 77,147 19 0 Assets as j\r separate balance-sheet .. 78,178 17 5 N.Z. Consolidated Stock — i>,804 4 0 Profit and i.oss Account —Loss to date .. 7,159 16 4 510,991 13 4 At 5 per cent, (due 1935-45).. .. 510,991 13 4 85,338 13 9 1,076,938 9 3 At 6 per cent, interest (due 1936-51) . . 1,076,938 9 3 8J ,012 o 0 807,703 17 0 At 6 per cent, interest (due 1936-51) .. 807,703 17 0 |— 3,724,743 19 7 Waika to River schemes — 3,724.743 19 7 Horahora — ; 512,201 19 0 I Assets as per separate balance -sheet .. .. 565,267 14 9 Arapuni — £ s. el. 176 0 0 Land and fencing .. 176 0 0 | 10.598 13 3 Roads and bridges .. 26,218 9 9 Electric lines and teleWaihi Gold-mining Company (Limited) — 351 3 0 phone service .. 319 8 2 Purchase of Horahora works —Deed of 4,715 15 8 Houses .. .. 5,631 1 7 212,500 0 0 security at 5 per cent, interest .. .. 212,500 0 0 j Offices and temporary | .. buildings .. .. 5,947 5 7 . i 38,292 5 1 15,841 11 11 11 Headworks — Consolidated Fund — Engineering and preInterest accrued on loans to 31st March, 13,890 1 7 liminary works .. 17,352 19 1 42,036 14 11 1925 .. .. .. .. 41,483 1 5 Electric supply for Sundry creditors for interest unclaimed .. 67 10 0 471 15 4 works .. .. 433 11 6 41,550 11 5 Dam and other headworks under Arm-strong-Whitworth's 9,421 1 0 contract .. 111,285 15 5 129,072 6 0 Amount set aside as reserve to cover differ- 23,782 17 11 ence between interest payable on loans raised and interest earned from their 50,000-volt lines — 29,452 4 11 temporary investment pending use .. .. 30,848 18 8 4,832 13 1 Horahora-Arapuni .. 4,836 17 8 155 9 5 Arapuni-Ngongotaha 5,891 12 3 Penrose-Waitemata 223 4 11 Katikati-Waikino .. 486 4 7 Pokeno-Waihou .. 11 8 0 11,449 7 5 4,988 2 6 4,008,732 19 5 Carried forward.. .. .. .. 4,009,643 9 8 1,615,528 12 9 Carried forward.. .. .. .. 1,746,867 8 6 i

B.—l [PT. IV, Sup.] .

General Balance-sheet at 31st March, 1925, as compared with Position at 31st March, 1924— continued.

1923-24. Liabilities. 1924-25. 1923-24. Assets. 1924-25. £ s. d. £ 8. d. £ s. d. £ s. d. £ s. d. £ s. d. 4,008,732 19 5 Brought forward .. .. .. 4,009,643 9 8 1,615,528 12 9 Brought forward .. .. .. 1,746,867 8 6 Lake Coleridge scheme — Waikato River Schemes —continued. 72,593 19 8 J Depreciation reserve .. .. .. 88,631 3 0 Arapuni— continued. 5,392 12 1 Sundry creditors .. .. .. 16,060 10 5 110,000- volt lines — £ s. d. — \ 104,691 13 5 10,743 1 3 Hamilton— Penrose .. 93,415 15 0 77,986 11 9 I 148 6 0 Arapuni - Te Kuiti .. 148 15 9 | Arapuni — Penrose (tower) .. .. 133 17 0 — ■ 93,698 7 9 Horahora scheme — 10,891 7 3 24,831 14 8 | Depreciation reserve .. .. .. 31,680 16 7 — — 12,718 0 0 Sinking fund .. .. .. 16,983 5 1 50,000- volt substations- — 8,673 10 9 Sundry creditors .. .. 7,957 2 3 Ngongotalia .. 3 18 0 3,493 19 3 Net profit to date .. .. .. .. Arapuni .. .. 4 10 9 Reserve Fund .. .. .. 20,547 12 1 .. Pokeno .. .. 4 4 0 — 77,168 16 0 Waitemata .. 4 3 0 49,717 4 8 .. Hangatiki .. .. 4 9 6 21 5 3 110,000- volt substation — Arapuni scheme — 515 7 2 Penrose .. .. •• 20,801 8 0 2,968 9 7 Sundry creditors .. .. .. .. 22,571 7 11 Office furniture .. 11 10 1 198 16 11 Motor-vehicles .. 1,970 8 5 2,814 19 4 Loose tools, plant, and Mangahao scheme — equipment .. 6,063 19 0 21,231 6 9 Sundry creditors .. .. .. .. 27,714 12 2 2,443 7 2 Engineering, office and general expenses on preliminary surveys and during construction .. .. 5,178 6 4 Waikaremoana scheme — 12,548 13 9 Interest during con1,408 11 0 Depreciation reserve .. .. .. 2,883 8 0 — struction .. .. 20,985 0 5 20 5 3 Sundry creditors .. .. .. .. .. 18,005 17 2 — 34,209 4 3 1,428 16 3 |, 62,510 16 6 Stocks of material on 707 10 10 hand .. .. .. 18,109 10 11 Sundry debtors .. .. 553 9 9 346,207 4 5 4,162,065 8 5 Carried forward.. .. .. .. 4,244,673 7 2 1,708,159 11 8 Carried forward.. .. .. .. 2,093,074 12 11

General Balance-sheet at 31st March, 1925, as compared with Position at 31st March, 1924— continued.

B.—l [PT. IV, SUP.] .

I 1923-24. I Liabilities. j 1924-25. 1923-24. Assets. 1924-25. — — j j — I £ a. d. | £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. 4.192,066 8 5 Brought forward .. .. t .. 4,244,673 7 2 1,708,159 11 8 Brought forward .. .. .. 2,093,074 12 11 Mangahao River scheme — 12,686 18 8 Land and easements .. .. .. 15,191 12 7 298,451 3 7 Headworks, dams, tunnels, &c. .. 422,129 13 3 41,123 7 8 Roads, trams, &c. .. .. .. 49,174 18 7 82,588 0 9 Pipe-Hues, &c. .. .. .. 103,504 12 10 90,127 13 6 Buildings .. .. .. .. 88,524 15 5 36,547 17 8 Substations .. .. .. .. 138,089 17 3 119,923 7 8 Power plant and machinery .. .. 197,122 12 9 99,196 3 11 Construction plant, tools, &c. .. .. 99,393 11 5 201,855 1 6 Transmission-lines .. .. .. 380,775 11 7 32,278 7 4 Workers'accommodation .. .. 36,418 18 10 59,909 8 4 Surveys, engineering, &c. .. .. 83,650 17 3 140,859 13 0 Construction material on hand.. .. 97,304 11 0 3,427 19 1 Canteen stocks on hand .. .. 1,881 0 11 95,397 11 3 Interest during construction .. .. 181,053 11 1 ■1,314, 372 13 11 1,894,216 4 9 2,736 19 3 Sundry debtors .. .. .. 9,498 16 8 ' 1,903,715 1 5 1,317,109 13 2 Other schemes, surveys, &c. —• North Island — 376 13 11 Aratiatia (Waikato River) .. .. 376 13 11 443 9 6 Huka Falls (Waikato River).. .. 453 9 6 2,746 17 3 Hutt River (including dam site) .. 2,719 2 3 38 9 0 Makuri River .. .. .. 38 9 0 1,355 4 4 Rotoiti-Kaituna .. .. .. 1,355 4 4 879 16 8 Tauherenikau River .. .. 879 16 8 236 6 8 Wairau River .. .. .. 236 6 8 ■ ■ — 6,059 ; 2 4 6,076 17 4 South Island — 803 1 9 Clarence River .. .. .. 803 1 9 5 0 0 Lake Kanieri .. .. .. 5 0 0 749 8 2 Nelson-Marlborough .. .. 749 8 2 96 1 0 Timaru-Oamaru .. .. .. 252 15 1 519 12 7 Opihi River .. .. .. 519 12 7 17 7 0 Toaroha River .. .. .. 17 7 0 543 0 5 Teviot River .. .. .. 543 0 5 11 19 0 Upper Taieri River.. .. .. 11 19 0 475 5 8 Lake Hawea .. .. .. 475 5 8 — 3,377 9 8 3,220 15 7 4,162,065 8 5 Carried forward.. .. .. .. 4,244,673 7 2 3,034,566 17 9 Carried forward.. .. .. .. 4,006,226 6 4

B.—l [PT. IY, Sup.]

J. J. Gibson, Accountant, Public Works Department. I hereby certify that the balance-sheet has been duly examined and compared with the relative books and documents submitted for audit, and correctly states the position as disclosed thereby, subject to the reservations included in the certificates of the balance-sheets of the separate schemes required in terms of section 6, State Supply of Electrical Energy Act, 1917.— J. H. Fowler, Deputy Controller and Auditor-General.

General Balance-sheet at 31st March, 1925, compared with Position at 31st March, 1924— continued.

1923-24. Liabilities. 1924-25. 1923-24. Assets. 1924^25. £ s. d. ! £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. 4,162,065 8 5 Brought forward . . .. 4,244,673 7 2 3,034,566 17 9 Brought forward .. .. 4,006,226 6 4 General expenditure not chargeable to any 4,427 16 10 individual scheme .. .. .. .. 4,439 17 8 Balance in Electric Supply Account at the end of the year — 23,413 2 11 Cash in Public Account .. .. 30,479 13 10 In hands of Government officers in New Zealand .. .. .. .. 3,598 15 1 In hands of Government officers in 29,752 10 10 London .. .. .. .. 42,369 6 11 76,447 15 10 53,165 13 9 Investment Account (funds invested until | 1,053,008 6 3 actually required for use) .. .. .. 152,800 0 0 233 19 3 Stamp Duty Deposit Account .. .. I 1,053,242 5 6 4,239,913 19 10 4,145,402 13 10 Interest accrued on investments!! to 31st | | 16,653 14 7 I March, 1925.. .. .. 4,490 2 1 9 0 0 ! Sundry debtors for interest due but unpaid 269 5 3 4,759 7 4 i ' '£4,162.065 8 5 Total .. .. .. £4,244,673 7 2 i£4,162,065 8 5 Total .. .. .. .. .. £4,244,673 7 2 -- J. ==========

B.—l [PT. IT, Sup.] .

Balance-sheet at 31st March, 1925.

The balance-sheet has heen compared with the various supporting books, vouchers, and documents, and found to correspond therewith, but in the opinion of the Audit Office the Depreciation Reserve Account cannot be accepted as complying with the provisions of section 10 of the State Supply of Electrical Energy Act, 1917, which requires the establishment of a depreciation fund; and there is also no authority of law for the charging against Net Revenue Account of interest in respect of Depreciation Reserve moneys.—J. H. Fowler, Deputy Controller and Auditor-General.

WAIKAREMOANA ELECTRIC-POWER SUPPLY. Profit and Loss Account for Year ended 31st March, 1925.

1923-24. | 1924-25. 1923-24. 1924-25. £ s. d. £ s. d. £ s. d. £ s. d. 4,165 S 0 To Interest on capital .. .. •• •• •• 4,261 1 0 2,100 0 0 By Rental of plant leased to Wairoa Power Board .. .. 2,440 5 8 Depreciation on piant (2 per cent, on value of assets in Loss for year.. .. .. .. .. .. 3,295 12 4 1,408 11 0 operation) .. •• •• •• •• 1,418 10 0 3,473 19 0 Interest on Depreciation Reserve (4 per cent, on £1,408 lis.) 56 7 0 19 0 £5,735 18 0 £5,573 19 0 £5,735 18 0 3,473 19 0 Loss for year, as above .. •• •• 3,295 12 4 390 5 0 Loss carried forward at 1st April, 1924 .. .. .. 3,864 4 0 3,864 4 0 Accumulated loss to date carried to balance-sheet.. .. 7,159 16 4 £3 864 4 o £7,159 16 4 £3,864 4 0 £7,159 16 4 1 = — —I Depkeciation Besebve. £ s. d. £ s - d. £ s. d. £ s. d. 1,408 11 0 Balance carried to balance-sheet .. .. .. •• 2,883 8 0 1,408 11 0 By Balance at close of previous year .. .. .. 1,408 11 0 Interest .. .. .. .. .. .. 56 7 0 Amount reserved for year .. .. .. .. 1,418 10 0 _ £1,408 11 0 £2,883 8 0 £1,408 11 0 £2,883 8 0

1923-24. Liabilities. 1924-25. : 1923-24. j Asset.?. 1924-25. £ s. d. £ s. d. £ s. d. £ s. d. 79,583 6 9 Balance carried to general balance-sheet .. .. 82,455 5 9 11,431 10 10 Access roads and bridges .. .. .. .. .. 11,431 10 10 20 5 3 Sundry creditors .. .. .. •• -• •• 18,474 8 0 Pipe-lines .. .. .. .. .. .. 18,478 6 2 1 408 11 0 Depreciation reserve .. .. .. •• 2,883 8 0 25,443 0 0 Power-house building and machinery .. .. .. 25,905 18 5 6,625 1 11 Compensation for land .. .. .. .. .. 6,625 1 11 278 17 3 Headworks .. .. .. .. .. .. 278 17 3 2,950 15 9 Staff cottages .. .. .. .. .. .. 3,053 0 9 1,260 1 5 Workmen's huts .. .. .. .. .. 1,260 1 5 407 18 5 Workshop .. .. .. .. . . .. 436 17 11 Loose plant 1,000 0 0 Telephone-line to Wairoa .. .. .. .. 1,000 0 0 3,053 11 0 Survey, engineering, and office expenses .. .. .. 3,146 2 8 5,697 14 5 Interest during construction .. .. .. .. 5,697 14 5 76,622 19 0 77,313 11 9 525 0 0 Sundry debtors .. .. .. .. .. .. 865 5 8 Balance from Profit and Loss Account: Accumulated loss to 3,864 4 0 date.. .. .. .. .. .. .. 7,159 16 4 £81,012 3 0 £85,338 13 9 £81,012 3 0 £85,338 13 9

B.—l [PT. IY, SUP.] .

LAKE COLERIDGE HYDRO-ELECTRIC-POWER SUPPLY. Profit and Loss Account for Year ended 31st March, 1925, compared with Year ended 31st March, 1924. Gross Revenue Account.

3 —B. 1 [PT. IY, SUP.] .

I I I : 1923-24. i 1924-25. ; 1923-24. | 1924-25. . - — i To Generating expenses, headworks, and power- £ s. d. £ s. d. £ s. d. : By Sale of energy — £ s. d. £ s d £ s. d. | house — 74,524 11 11 i Wholesale .. .. .. 88 224 17 4 2,601 6 6 j Salaries .. .. .. •• 2,881 18 10 2,271. 0 10 I Retail .. .. .. .. 7 4 884 1 7 j Wages .. .. • • • ■ 851 2 8 1 on aqq a q 74 2 8 | Supplies.. .. .. • • 82 10 5 76,785 12 9 ' 350 14 8 j Transport of stores, &c. .. .. 444 3 10 i Maintenance and repairs — 682 17 1 ! Harper diversion .. .. 990 11 4 18 11 7 Discounts forfeited .. . 15 1 -t 244 3 2 | Headworks ...... 257 11 10 * J 124 14 3 | Power-house building .. .. 145 13 6 894 0 0 Power-house machinery .. 1,003 14 2 Rents — 164 2 5 ! Roads and fences .. .. 172 9 1 750 18 6 Land and buildings .. .. 976 11 9 437 9 6 | Staff residences, &c. .. .. 550 !5 10 245 3 8 Electric lines .. .. .. 252 17 3 1 - — 7,380 11 6 102 17 0 j „ plant .. .. .. 132 16 8 6,457 11 10 J .—. —. — l oan k Q : J 1,098 19 2 ° S Transmission-lines — 468 4 6 | Salaries .. .. .. . ■ 525 0 0 Transport, including upkeep of horses, 284 6 1 | traps, cars, and cj'cles .. .. 585 0 1 Fees for testing and repairing'electrical ap770 13 8 I Repairs to power-lines .. .. 2,052 4 9 393 19 4 pliances .. .. " Ana fi ; 3,162 4 10 .... 1D « 1,523 4 3 Substation, Addington — j Stand-by provision: Fees from wholesale 1,121 17 9 I Salaries .. .. .. .. 1,154 11 1 80 0 0 consumers .... sa n n 523 17 11 j Wages ........ 511 3 6 ! " " ou u u 74 17 7 | Supplies .. . . .. .. 85 8 10 Maintenance and repairs — 249 6 7 I Buildings and yards .. .. 334 14 9 ! Interest from local bodies in respect of 136 19 4 Machinery .. .. .. 163 6 10 7 9 4 j reticulations sold on deferred payment.. .. 7 q a 2,249 5 0 113 12 10 ! Earnings, motor-vehicles P.. 109 ,, 2,105 19 2 j " 11 1 Distribution — 208 3 3 ' Salaries .. .. .. .. 212 11 9 Transport, including upkeep of motor154 6 6 | vehicles .. .. .. 114 2 8 Maintenance of feeder cables, trans2,437 9 1 j former stations, and tools .. 1,581 9 0 1,6J2 3 0 ; Maintenance of secondary distribution 2,237 0 3 367 6 10 I Maintenance of and testing meters .. 340 14 0 98 12 7 ! Earth-testing .. .. .. 73 5 7 — _ 4,559 3 3 4,878 13; 14,964 16 6 Carried forward .. .. .. .. 17,351 4 7 78,508 5 0 Carried forward .. .. .. !)9~10*! 0 7~

B.—l [PT. IY, SUP.] .

LAKE COLERIDGE HYDRO-ELECTRIC-POWER SUPPLY— continued. Profit and Loss Account for Year ended 31st March, 1925, compared with Year ended 31st March, 1924— continued. Gross Revenue A c count— continued.

1923-24. 1924-25. 1923-24. — 1924-25. - " - ? I • -- • - ■ - - L_ o I I I . I £ s. d. £ s. d. £ s. d. £ s. d. I , s ' 14,904 l(i (i Brought forward .. .. .. 17,351 4 7 78,508 5 0 Brought forward .. .. J 92,163 2 7 To Stand-by provision — Payment to Christchurch Tramway 1,350 0 0 Board for rental .. .. 1,350 0 0 Payment to Christchurch Tramway 70 18 10 Board for energy supplied .. 26 13 1 * 1,376 13 1 1,420 18 10 Management and general expenses — 1,846 11 8 Salaries .. .. .. .. 2,155 17 1 308 16 7 Sick and holiday pay to workmen .. 313 13 11 114 14 3 Travelling-expenses .. .. 71 13 1 379 0 0 Office-rent .. .. .. 379 0 0 65 10 0 Kent of other buildings .. .. 65 10 0 159 1 0 Postages and telegrams .. .. 148 7 3 121 8 6 Telephone subscriptions . .. 126 17 3 137 8 1 Printing and stationery .. .. 131 19 8 - 32 14 0 Advertising .. .. .. 12 10 0 383 7 8 Accident pay .. .. .. 238 8 8 93 9 1 Fire insurance .. .. .. 83 10 5 112 0 0 Audit fees .. .. .. 88 6 S 248 9 8 Meter-reading and line-inspection .. 313 2 8 101 13 11 Commission on collection of accounts j 73 13 5 283 18 0 Electrical testing .. .. ..I 329 9 11 3 10 5 Miscellaneous trade expenses . . 10 7 5 4,542 7 5 4,391 12 10 23,270 5 1 20,777 8 2 57,730 16 10 Balance to Net Revenue Account .. .. 68,892 17 6 £78,508 5 0 £92,163 2 7 £78.508 5 0 £92,163 2 7 Net Revenue Account. S. f>. d. £ s. d. j £ s. | j £ s. d. 12,584 0 0 To Depreciation at 2 per cent, per annum on completed work 15,679 0 0 i 57,730 16 10 By Balance from Gross Revenue Account .. .. 68,892 17 6 44,443 9 6 Interest for year ended 31st March .. .. .. 47,780 6 9 703 7 4 Balance to Profit and Loss Appropriation Account .. 5,433 10 9 : I j £57,730 16 10 £68,892 17 6 £57,730 16 10 £68,892 17 6

B.—l [Pt. IV, Spp,],,

LAKE COLERIDGE HYDRO-ELECTRIC-POWER SUPPLY— continued.

Profit and Loss Appropriation Account. 1923-24 —— 1924-25. ! 1923-24. — 1924-25. I I 11 I . £ s. d. | £ s. d. j £ s. d. _ £ s. d. 23,875 16 11 To Balance from previous year's statement .. .. .. 23,172 9 7; 703 7 4 By Balance from Net Revenue Account]* .. .. .. 5,433 10 9 23,172 9 7 Balance to balance-sheet— Accumulated loss .. .. 17,738 18 10 £23,875 16 11 £23,172 9 7 £23,875 16 11 £23,172 9 7 Depreciation Reserve Account. _ £ s. d. £ s. d. £ s. d. £ s. d. To Amounts written off —• ! 61,275 8 7 By Balance from previous year's statement .. .. 72,593 19 8 2,409 8 11 Motor-vehicles and tools .. .. .. .. 1,075 0 11 2,451 0 0 Interest at 4 per cent, per annum .. .. .. 2,903 15 0 307 0 0 Powerhouse turbines (renewals) .. .. .. I .. ! 12,584 0 0 Amount set aside as per Net Revenue Account .. .. j 15,679 0 0 1,000 0 0 Feeder mains (renewals) .. .. .. .. Paparua Reticulation ;. .. .. .. 1,470 10 9 72,593 19 8 Balance to balance-sheet ,. .. .. .. S8,631 3 0 £76,310 8 7 | £91,176 14 8 £76,310 8 7 ! £91,176 14 8

B,—l [PT. IY, SUP.].

LAKE COLERIDGE HYDRO-ELECTRIC-POWER SUPPLY— continued. Balance-sheet at 31st March, 1925.

1923-24. Liabilities. 1924-25. 1923-24. Assets. 1924-25. i I £ s. d. £ s. <1. £ s. d. £ s. d. Works at Lake Coleridge — £ s. '1. £ s. d. 72,593 19 8 Depreciation Reserve Account .. .. .. 88,631 3 0 4,343 8 7 Land, including fencing and planting, .. 4,507 7 5 5,317 4 6 Coalgate Gorge Road .. .. 8,319 13 9 7,566 3 8 Service roads .. .. .. 7,566 3 8 Sundry creditors — 310 8 5 Service telephones .. .. .. 310 8 5 1,659 14 0 On open accounts .. .. 5,656 1 0 — — 20,703 13 3 3,424 11 5 On contracts .. .. .. 9,891 14 0 17,537 5 2 308 6 8 Payment for current in advance .. 512 15 5 16,060 10 5 Head works — 5,392 12 1 First tunnel, including inlet and 80,148 6 6 outlet works .. .. .. 80,520 8 11 Balance carried to general balance-sheet — 10,333 5 8 Second tunnel .. .. .. 71,111 12 1 977,701 18 5 Total assets as per contra .. .. 1,096,261 0 0 68,871 1 1 Pipe-lines .. .. .. 83,436 14 5 77,986 11 9 £ess total liabilities as above .. .. 104,691 13 5 1,996 16 2 Tram-lines .. .. .. 4,453 7 9 991,569 6 7 3,469 15 5 Weir at lake outlet, gauges, and fencing 3,473 19 5 899,715 6 8 21,431 18 11 Harper River diversion works .. 22,995 13 11 265,991 16 6 186,251 3 9 — Power-house — 25,446 16 2 Buildings, &c. .. .. .. 32,444 11 0 95,297 4 4 Machinery, &e. .. .. .. 96,019 2 0 231 2 1 Office furniture, fittings, &c. .. 231 2 1 128,694 15 1 120,975 2 7 Accommodation for staff and workmen- — 14,708 15 1 Buildings, fencing, &c.j .. .. .. 23,463 6 1 Transmission-lines — 4.599 S 2 Land .. .. .. .. 4,983 14 4 177,552 5 11 Power-lines to Christchurch .. .. 178,120 19 6 56,280 19 3 Power-lines to South Canterbury .. 57,460 5 8 2,408 19 8 Telephone-system .. .. .. 2,468 13 c Linemen's cottages, depots, tools, and 3,244 17 3 equipment .. .. .. 3,24-1 17 3 6,588 12 4 Alterations to public telegraph-lines .. 6,588 12 4 9,018 7 3 Point Switching Station .. .. 9,154 9 6 262,021 12 0 259,693 9 10 Addington Substation — 3,483 0 5 Land, including cottages .. .. 3,483 0 5 3,935 17 1 Substation buildings .. .. .. 8,481 6 6 31,365 7 10 Machinery, &c. .. .. .. 32,089 9 5 5,856 4 3 Store buildings and workshops.. .. 5,865 14 3 49,919 10 7 | 44,640 9 7 977,801 18 5 Carried forward .. .. .. 1,096,261 0 0 I 643,806 6 0 Carried forward .. .. .. 750,794 13 6

B.—l FPT. IY, Sup.l .

The balance-sheet has been, compared with the various supporting books, vouchers, and documents, and found to correspond therewith, but in the opinion of the Audit Office the Depreciation Reserve Account cannot be accepted as complying with the provisions of section 10, State Supply of Electrical Energy Act, 1917, which requires the establishment of a depreciation fund, and there is also no authority of law for the charging against Net Revenue Account of interest in respect of Depreciation Reserve moneys.— J. H. Fowler, Deputy Controller and Auditor-General.

LAKE COLERIDGE HYDRO-ELECTRIC-POWER SUPPLY— continued. Balance-sheet at 31st March, 1925— continued.

1923-24. Liabilities 1921-25. 1923-24. Assets. 1924-25. : • j 1 £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. 977,701 18 5 Brought forward .. .. .. 1,096,261 0 0 643,806 6 0 Brought forward .. .. .. .. 750,794 13 6 Primary distribution — 7,021 16 1 Supply cables —Christehurch City .. 7,021 16 1 4,889 19 10 Christehurch Tramways.. 4,889 19 10 7,015 3 8 Lyttelton .. .. 7,097 13 1 18,997 4 11 Northern .. .. 19,168 19 6 11,886 15 6 Southern .. .. 11,281 7 4 4,045 9 5 Motukarara .. .. 4,046 14 1 1,613 19 10 Hororata- Darfield 4,712 10 9 —Hororata .. .. 4,961 11 3 8,265 8 9 Ashburton .. .. 8,863 1 8 9,984 1 6 Timaru .. .. .. 12,378 10 10 622 9 9 Lightning-arresters .. .. .. 622 9 9 300 4 5 Took and equipment .. .. .. 300 4 5 ' 1,516 12 8 Alterations to public telegraph-lines .. 1,516 12 8 82,149 0 6 80,871 17 1 Secondary distribution — 22,807 15 9 Supply cables and reticulation .. .. 15,432 8 3 26.689 19 7 Local substations .. .. .. 26,141 16 1 M 41,574 4 4 49,497 15 4 9,329 2 10 Service transformers and meters .. .. .. 8,910 7 3 6,865 16 4 Motor-cars, lorries, and cycles, &c. .. .. .. 7,171 4 8 102 9 4 Test-room equipment .. .. .. . ■ 107 9 4 11,415 9 4 Loose tools, plant, and equipment .. .. .. 14,870 18 10 1,729 3 9 Public telephones to the lake .. .. .. 1,729 3 9 Telephones to Christehurch City Council and 173 19 1 Tramway Board and local offices.. .. .. 173 19 1 250 3 10 Christchuroh office —Furniture and fittings .. .. 252 16 9 Engineering, office, and general expenses on 28,288 0 11 preliminary surveys and during construction .. 32,444 1 7 1 Salaries of Engineers and others on preliminary 27,646 16 10 surveys and during construction .. .. .. 31,796 19 2 32,823 19 1 Interest during construction .. .. .. 36,515 3 10 892,800 19 9 1,008,490 18 1 41,471 10 0 Stocks of material, &c., on hand at date .. .. 46,695 5 11 Telephone subscriptions, fire insurance, &c., 141 13 1 paid in advance .. .. .. .. 136 8 4 Sundry debtors — 20,115 6 0 For current, rent, work carried out, &c. .. .. 22,837 3 0 Amount misappropriated by clerk in Christchurch office .. .. .. .. .. 362 5 10 j 954,529 8 10 1,078,522 1 2 Balance from Profit and Loss Appropriation 23,172 9 7 Account .. .. .. .. .. 17,738 18 10 £977,701 18 5 £1,096,261 0 0 £977,701 18 5 £1,096,261 0 0

B.—l [PT. IV, SUP.] .

WAIKATO ELECTRIC-POWER SUPPLY.—HORAHORA SCHEME. Profit and Loss Account for Year ended 31st March, 1925, compared with Year ended 31st March, 1924. Gross Revenue Account.

1923-24. i 1924-25. |j 1923-24. . -—- 1924-25. £ s. d. To Generating expenses, headworks, and power- £ s. d. £ s. d. j £ s. d. By Sales of electrical energy to wholesale con- £ s. d. £ s. d. house — | 58,630 16 5 j sumers .. .. .. .. 63,229 17 11 2,711 19 2 Salaries.. .. .. .. 2,706 10 0 j 86 11 11 : Less discounts and rebates .. .. 116 11 3 102 0 7 Wages .. .. .. .. 121 8 5 : j 63,113 6 8 132 10 10 Supplies .. .. .. 87 6 2 58,544 4 6 72 18 1 Transport .. .. .. 119 1 5 Maintenance and repairs — 5 10 0 Hire of plant .. .. .. 39 6 6 810 19 8 Headworks and buildings .. 662 13 2 579 17 0 Rent of lines .. .. .. 789 4 4 671 10 6 Power-house machinery .. 435 13 2 607 2 2 Miscellaneous rents .. .. .. 671 2 6 143 19 3 Staff village .. .. .. 125 8 7 1,499 13 4 937 6 7 Erection of temporary weir .. 981 1 7 1,192 9 2 — 5,239 2 6 5,583 4 8 — Testing, oil - drying, and repairs for con88 6 8 Power purchased in bulk .. .. .. 1,255 12 8 165 1 8 ! sumers .. .. .. .. 553 8 9 Main transmission-lines (50,000-volt)- — j ! Fees for inspection of lines and testing of Horahora to Waikino — ! 22 1 0 instruments, &c. .. .. .. 17 17 0 531 1 5 Wages .. .. .. 577 2 0 | 571 5 9 1,013 4 11 Repairs and supplies .. .. 351 15 8 181 9 9 Transport .. .. .. 238 1 3 1,166 18 11 1,725 16 1 — —- Horohora to Hamilton —- 133 5 7 Wages .. .. .. 162 2 4 25 11 3 Repairs and supplies .. .. 34 5 7 58 6 0 Transport .. .. .. 64 11 6 260 19 5 217 2 10 — Mystery Creek to Te Awamutu — 86 9 10 Wages .. .. .. 84 7 10 15 10 9 Repairs and supplies .. .. 26 9 1 19 7 3 Transnort .. .. .. 23 18 4 — 134 15 3 121 7 10 Wairongomai to Waihou — 18 16 9 Wages .. .. .. 36 2 8 8 17 2 Repairs and supplies .. .. 27 5 7 Transport .. .. .. 3 13 — 66 9 6 p 27 13 11 — Main substations (50,000-volt)— Waikino — 590 3 10 Operating wages (half) .. 585 10 2 92 10 11 Repairsto buildings,machinery, &c. 280 4 11 865 15 1 682 14 9 — —— — Hamilton — 178 19 5 Operating wages .. .. 246 3 3 Repairs and supplies to buildings, 27 4 6 machinery, &e. .. .. 31 15 5 35 1 7 Maintenance yards, workshops, &c. 76 10 7 19 13 2 Repairs, tools, and instruments 28 12 2 — 383 1 5 260 18 8 8,707 5 5 Carried forward .. .. .. 9,372 14 9 59,923 16 4 Carried forward .. .. .. 65,184 5 9

B.—l [PT. IY, Sup.] .

WAIKATO ELECTRIC-POWER SUPPLY—HORAHORA SCHEME— continued. Profit and Loss Account for Year ended 31st March, 1925, compared with Year ended 31st March, 1924— continued. Gross Revenue Account— continued.

1923-24. j 1924-25. j 1923-24. 1924-25. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. i s. d. 8,707 5 5 Brought forward .. .. .. .. 9.372 14 9 59,923 10 4 Brought forward .. .. .. .. 65,184 5 9 To Main substations (50,000 volt) —continued. Te Awamutu — 258 17 6 Operating wages .. .. 275 2 6 Repairs and supplies to building 15 5 f> and machinery .. .. 35 14 4 310 16 10 274 2 11 Waihou — 148 18 0 Operating wages .. .. 208 2 9 Kepairs and supplies to buildings 35 19 4 and machinery .. .. 73 8 7 — — 341 11 4 184 17 4 . — Distribution substations (11,000 volt) — 37 18 11 Wages, repairs, and supplies .. .. 35 17 1 Distribution lines (11,000 volt) — Horahora-Hamilton-Frankton — 132 16 10 Wages .. .. .. 104 9 0 31 1 8 Kepairs and supplies .. .. 138 16 8 60 12 3 Transport .. .. .. 66 19 0 2 0 0 Waikino- W aihi 310 g 2 j 226 10 9 Transmission and distribution general in Horahora-Hamilton area — 687 10 6 Salaries .. .. .. .. 771 7 9 2 0 0 Expenses 115 6 10 Transport .. .. .. 105 3 3 876 11 0 804 17 4 Management and general — 960 2 1 Salaries, wages, and audit fees .. 1,008 5 9 j Accident insurance, sick and holidav 220 15 8 pay .. .. .. .". 301 16 3 305 12 9 Travelling-expenses and motor-cars .. 215 13 6 149 1 0 Postages, telegrams, and telephones .. 181 12 6 23 7 6 Fire insurance .. .. .. 24 2 5 10 10 0 Legal expenses 112 3 10 Printing, stationery, and advertising.. 109 9 11 233 14 0 Office rent, cleaning, and lighting .. 190 4 8 53 10 11 Experimental testing .. .. 115 2 8 23 14 5 Miscellaneous expenses .. .. 36 13 11 29 10 3 Fire damage, Hamilton office .. 160 6 9 2,343 8 4 2,127 8 5 12,363 1 1 Carried forward .. .. .. 13,591 4 6 59,923 16 4 Carried forward .. .. .. .. 65,184 5 9

B.—l [PT. IY, SUP.] .

WAIKATO ELECTRIC-POWER SUPPLY.— HORAHOR A SCHEME— continued. Profit and Loss Account for Year ended 31st March, 1925, compared with Year ended 31st March, 1924— continued. Gross Revenue Account— continued.

I 1923-24. 1924-25. j 1923-24. | | 1924-26. £ s. d. £ s. d. £ s. d. £ s. d. 12,363 1 1 Brought forward .. .. .. .. 13,591 4 6 59,923 16 4 Brought forward ... .. .. .. 65,184 5 9 To Management and general —continued. Ill 0 5 Testing, oil-drying, repairs, be., for consumers .. 514 17 3 12,474 1 6 14,106 1 9 47,449 14 10 Balance to Net Revenue Account .. .. .. 51,078 4 0 £59,923 16 4 £65,184 5 9 £59,923 10 4 £65,184 5 9 Net Revenue Account. £ s. d. £ s. d. £ s. d. £ s. d. To Interest on purchase-money for plant purchased from Waihi 47,449 14 10 By Balance from Gross Revenue Account .. .. .. 51,078 4 0 21,230 14 7 Gold-mining Company, and on advances from Treasury .. 20,129 3 3 10,393 9 0 Depreciation on completed works (2 per cent.) and on stocks 9,756 14 4 29,885 17 7 15,825 11 3 Balance to Profit and Loss Appropriation Account .. 21,192 6 5 £47,449 14 10 £51,078 4 0 £47,449 14 10 £51,078 4 0 Profit and Loss Appropriation Account for Year ended 31st March, 1925, compared with Year ended 31st March, 1924. £ s. d. £ s. d. £ s. d. j £ s. d. Sinking Fund contributions to date, as required by section 12 380 8 0 By Balance from previous year .. .. .. . . 3,493 19 3 12,718 0 0 of the State SujJply of Electrical Energy Act, 1917.. .. 4,138 13 7 15,825 11 3 Balance from Net Revenue Account .. .. .. 21,192 6 5 3,493 19 3 Balance to balance -sheet .. Reserve Fund .. .. .. .. .. .. 20,547 12 1 £16,211 19 3 £24,086 5 8 £16,211 19 3 £24,686 5 8

B.—l [PT. IY, Sup.] .

WAIKATO ELECTRIC-POWER SUPPLY.—HORAHORA SCHEME— continued.

4—B. 1 [PT. IY, SUP.] .

Depreciation Reserve Account. 1923-24. ! j 1924-25. j 1923-24. — 1924-25. £ s. d. £ s. d. £ s. d. £ s. d. To Amount written off for temporary works .. .. 1,869 10 6 16,605 7 10 By Balance at close of previous year .. .. .. 24,831 14 8 2,831 6 2 Amount written off for depreciation of stocks .. .. 2,031 6 11 664 4 0 Interest for year .. .. .. .. .. 993 5 0 24,831 14 8 Balance to balance -sheet .. .. .. .. 31,630 16 7 10,393 9 0 Amount set aside as per Net Revenue Account .. .. 9,756 14 4 £27,663 0 10 £35,581 14 0 £27,663 0 10 £35,581 14 0 Sinking Fund Account. £ s. d. £ s. d. £ s. d. £ s. d. 12,718 0 0 To Balance to balance-sheet .. .. 16,983 5 1 .. By Balance at close of previous year .. .. .. 12,718 0 0 Amount set aside as per Profit and Loss Appropriation 12,718 0 0 Account' .. .. .. .. .. 4,138 13 7 Accrued interest on investments at 31st March, 1925 .. 126 11 6 £12,718 0 0 £16,983 5 1 £12,718 0 0 £16,983 5 1 Reserve Fund Account. £ s. d. £ s. d. £ s. d. £ s. d. To Balance to balance-sheet .. .. .. .. 20,547 12 1 .. By Amount set aside as per Profit and Loss Appropriation Account .. .. .. .. .. .. 20,547 12 1 | .. £20,547 12 1 .. j £20,547 12 1

B.—l [FT. IY, Sup.] .

WAIKATO ELECTRIC-POWER SUPPLY.—HORAHORA SCHEME— continued. Balance-sheet at 31st March, 1925.

1923-24. Liabilities. 1924-25. j 1923-24. Assets. 1924-25. i £ 8. d. Electric Supply Account — £ s. d. £ s. d. £ s. d. Works, &c., at Horahora — £ 8. d. £ s. d. | 462,484 14 4 Balance carried to general balance-sheet .. 488,098 18 9 2,168 5 9 Roads and bridges .. .. .. 2,168 5 9 8,673 10 9 Sundry creditors .. .. .. .. 7,957 2 3 1,039 15 3 Land and fencing .. .. .. 1,039 15 3 24,831 14 8 Depreciation reserve .. .. .. .. 31,680 16 7 11,053 17 2 Accommodation for staff and workmen .. 11,353 17 2 12,718 0 0 Sinking Fund .. .. .. .. 16,983 5 1 134,797 0 1 Headworks .. .. .. .. 158,112 15 4 Reserve Fund .. .. .. 20,547 12 1 64,483 10 3 Generating -station .. .. .. 72,640 18 0 32,244 6 6 Transformer building and machinery .. 39,487 17 6 Balance from Profit and Loss Appropriation 905 15 3 Tools and equipment .. .. .. 1,430 8 3 Account— 286,233 17 3 3,493 19 3 Net profit .. .. .. .. .. .. 246,692 10 3 Transmission -lines (50,000 volt) — 38,460 1 3 Horahora-Waihi .. .. .. 38,460 1 3 22,190 10 10 Horahora-Hamilton .. .. .. 22,221 10 5 7,556 9 9 Mystery Creek - Te Awamutu .. .. 7,559 9 9 Te Awamutu-Hangatiki .. .. 1,241 3 8 4,561 6 6 Wairongomai-Waihou .. .. 4,561 6 6 138 19 2 Waihou-Hamilton .. .. .. 138 19 2 1,003 17 6 Linemen's cottages .. .. .. 1,479 3 1 —— 75,661 13 10 73,911 5 0 512,201 19 0 Carried forward .. .. .. 565,267 14 9 320,603 15 3 Carried forward .. .. ., 361,895 11 1

B.—l [PT. IY, Sup.].

The balance-sheet has been compared with the various supporting books, vouchers, and documents, and found to correspond therewith, but in the opinion of the Audit Office the Depreciation Reserve Account cannot be accepted as complying with the provisions of section 10, State Supply of Electrical Energy Act, 1917, which requires the establishment of a depreciation fund, and there is also no authority of law for the charging against Net Revenue Account of interest in respect of Depreciation Reserve moneys.— J. H. Fowler, Deputy Controller and Auditor-General.

WAIKATO ELECTRIC-POWER SUPPLY.—HORAHOR A SCHEME- continued. Balance-sheet at 31st March, 1925— continued.

1923-24. Liabilities. \ 1924-25. |j 1923-24. Assets. 1924-25. I )1 £ S. d. £ s. d. £ s. d. £ s. d. £ a. d. 512,201 19 0 Brought forward .. .. .. .. 565,267 14 9 320,603 15 3 Brought forward .. .. .. .. 361,895 11 1 Main substations (50,000-volt) — 20,612 13 8 Waikino .. .. .. .. 20,719 18 6 7,826 2 5 Hamilton .. .. .. .. 7,836 15 6 5,453 16 2 Te Awamutu .. .. .. 5,478 14 1 7,230 16 3 Waihou .. .. .. .. 7,230 16 3 41,266 4 4 41,123 8 6 Distribution-lines (11,000-volt) — ■ 33,333 19 7 Horahora-Frankton .. .. .. 33,155 11 3 704 11 11 Waihi Grand Junction Company line .. 704 11 11 6,000 0 0 Waikino-Waihi .. .. .. 6,000 0 0 39,860 3 2 40,038 11 6 7,413 16 8 Distribution substations (11,000-volt) .. 7,406 1 11 3,975 11 9 Land at Ruakura .. .. .. 3,975 11 9 Stores buildings and fittings and railway -siding, 7,365 7 2 Ruakura .. .. .. .. 7,365 7 2 3,521 5 1 Staff residences, Ruakura .. .. .. 3,511 19 9 3,723 15 0 Loose tools and equipment .. .. 3,256 13 11 4,694 5 0 Motor lorries, cars, and cycles .. .. 4,035 6 10 494 2 5 Office furniture, Hamilton.. .. .. 648 2 2 Office accommodation .. .. .. 218 19 9 Engineering, office, and general expenses on 6,898 2 4 surveys and on construction .. .. 7,266 6 2 Salaries of officers on surveys and on con10,740 11 9 struction .. .. .. .. 12,400 8 2 24,224 9 2 Interest during construction .. .. 29,865 16 11 79,950 14 6 474,817 1 7 522,972 13 1 24,571 14 11 General stocks of material on hand .. .. .. 15,964 12 2 Debtors — 12,596 4 7 For electricity and sales of material .. 14,077 1 11 216 17 11 For payments in advance .. .. 18 5 11 14,095 7 10 12,813 2 6 Sinking Fund Investment .. .. .. 12,000 0 0 Interest accrued on Sinking Fund .. .. 126 11 6 In hands of Treasury .. .. --. 108 10 2 12,235 1 8 £512,201 19 0 £565,267 14 9 £512,201 19 0 £565,267 14 9

B.—l [PT. IY, Sup.] .

ELLESMERE AND FORSYTH RECLAMATION AND AKAROA RAILWAY TRUST ACCOUNT. (PUBLIC WORKS FUND.) (Section 383, Land Act, 1924.) Income and Expenditure Account for the Year ended 31st March, 1925. Expenditure. £ s. d. Income. £ s. d. To Expenditure under section 6, Ellesmere By Rents from Crown lands .. .. 1,807 15 1 Land Drainage Act, 1905 — Interest on loans raised by Board, due but unpaid .. .. 439 5 0 Rebates of rent .. .. 145 11 1 Remission of rent .. .. 0 16 4 Expenditure on construction and maintenance of Lincoln - Little River Railway .. .. 1,052 8 5 Balance, being excess of income over expenditure, transferred to Accumulated Fund .. .. .. 169 14 3 £1,807 15 1 £1,807 15 1 Balance-sheet as at 31st March, 1925. Liabilities. Assets. Sundry creditor*, for interest under see- £ s. d. Sundry debtors, for rents charged in ad- £ s. d. tion 6, Ellesmere Land Drainage Act, vance .. .. .. .. 60 6 11 1905 .. .. .. .. 439 5 0 Treasury Adjustment Account .. .. 8,078 1 2 Rents from Crown lands— Charged in advance .. .. .. 448 5 4 Paid in advance .. .. .. 3 0 0 Accumulated Fund .. .. .. 7,247 17 9 £8,138 8 1 £8,138 8 1 J. J. Gibson, Accountant, Public Works Department. Bth June, 1925. I hereby certify that the Income and Expenditure Account and balance-sheet have been duly examined and compared with the books and documents submitted for audit, and correctly state the position as disclosed thereby, except that no administration charges have been paid. —G. F. C. Campbell, Controller and Auditor-General.

B.—l [PT. IY, SUP.] .

GENERAL PURPOSES RELIEF ACCOUNT. Income and Expenditure Account for the Year ended 31st March, 1925. Expenditure. Income. To Losses written off— £ s. d. £ s. d. By Interest on advances — £ s. d. £ s. d. Waimarino bush-fire relief— Fire relief (including accrued) 1,547 17 9 Principal .. .. 1,022 2 0 Flood relief .. .. 384 6 7 Interest .. .. 151 8 9 In aid of works of production— — Orchardists .. .. 208 1 10 1,173 10 9 Ferngrove Sawmilling ComIn aid of works of production— pany .. .. .. 33 13 9 Orchardists—-Principal .. 20 10 0 Murohison Lime Company 1,194 0 9 Ltd. .. .. .. 24 15 2 Interest on loans .. .. .. 3,000 0 0 Nelson Farmers' Union Lime Company Ltd. .. .. 191 3 8 £4,194 0 9 Cider-manufacturing .. 165 10 3 - • — 2,555 9 0 Interest on investments .. .. 717 10 11 Logs carried down .. .. .. 921 0 10 £ s. d. — To Balance at 31st March, 1924 .. .. 1,287 3 4 £4,194 0 9 Loss brought down .. .. .. 921 0 10 Sinking fund instalment .. ..1331211 £s.d. Bad debts reserve .. .. .. .. 1,000 0 0 By Balance .. .. .. .. .. 3,341 17 1 £3,341 17 1 £3,341 17 1 Balance-sheet as at 31st March, 1925. Liabilities. £ s. d. Assets. £ s. d. £ s. d. Debentures issued .. .. .. 75,000 0 0 Advances under Appropriation Act, Interest accrued on debentures .. .. 246 11 5 1918, section 33, and Finance Sinking fund reserve .. .. .. 660 5 11 Act, 1922, section 20 (3) — Bad debts reserve .. .. .. .. 2,000 0 0 Fire relief .. .. .. 28,889 510 Payment in advance—Fire relief .. .. 10 0 Flood relief .. .. .. 11,727 11 2 Writings off in suspense — £ s. d. In aid of works of production— Fire relief .. .. .. 1,775 611 Orchardists .. .. 3,726 15 6 In aid of works of production— Ferngrove Sawmilling Company 348 7 5 Orchardists .. .. 20 10 0 Murohison Lime Company, Ltd. 499 19 9 1,795 16 11 Nelson Farmers' Union Lime Liability to Consolidated Fund—Waimarino bush- Company, Ltd. .. .. 3,500 0 0 fire relief .. .. .. .. 600 0 0 Cider-manufacturing .. 4,500 0 0 53,191 19 8 Sinking fund under Public Debt Extinction Act, 1910 .. .. .. 660 5 11 Sundry debtors, for interest — Fire relief (including accrued) .. 1,992 711 Flood relief .. .. .. 76 10 4 In aid of works of production— Orchardists .. .. 115 2 6 Murohison Lime Company Ltd. 11 0 0 Cider-manufacturing .. 112 10 0 2,307 10 9 Sundry debtors—Miscellaneous .. .. 2 2 0 Interest accrued on advances — Fire relief .. .. .. 3 3 0 Flood relief .. .. .. 153 0 3 In aid of works of production— Orchardists .. .. 65 5 11 Ferngrove Sawmilling Company 12 19 9 Murchison Lime Company, Ltd. 1 10 2 Nelson Farmers' Union Lime Company, Ltd. .. .. 94 18 8 Cider-manufacturing .. 53 0 3 — 383 18 0 Interest accrued on investments .. .. 145 9 7 Cash in hand (State Advances Office) .. 310 5 6 Cash in Publio Account .. .. 3,169 0 9 Investment Account .. .. 15,000 0 0 18,169 0 9 Suspense Account .. .. 1,791 5 0 Income and Expenditure Account .. 3,341 17 1 £80,303 14 3 £80,303 14 3 The Treasury, Wellington, 18th July, 1925. A. D. Park, Accountant to the Treasury. I hereby certify that the Income and Expenditure Account and balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby. Mortgage advances under the Appropriation Act, 1918, have been taken from unaudited District Land Office returns. —J. H. Fowler, Deputy Controller and Auditor-General.

8.--1 [PT. IY, SUP.].

GOVERNMENT ACCIDENT INSURANCE DEPARTMENT. Revenue Account of the Accident Branch of the Government Insurance Department for the Year ended 31st December, 1924. £ s. d. £ a. d. Amount of Accident Funds, Ist January, Claims .. .. .. .. 24,764 8 2 1924 .. .. .. .. 29,088 14 5 Commission .. .. .. 4,761 17 2 Premiums .. .. £40,631 17 9 Salaries .. .. .. .. 4,202 0 0 Less reinsurance pre- Expenses of management .. .. 1,467 8 2 miums .. .. 1,018 2 10 Further appropriation to Reserve for un39,613 14 11 earned premiums .. .. .. 2,020 0 0 Interest .. .. 8,372 18 3 Contribution to Superannuation Fund .. 140 0 0 Less land and income Amount of Accident Funds, 31st Decemtax .. .. 1,181 8 0 ber, 1924.. .. .. .. 38,538 6 1 7,191 10 3 £75,893 19 7 £75,893 19 7 Balance sheet of the Accident Branch of the Government Insurance Department on 31st December, 1924. Liabilities. £ s. d. Assets. £ s. d. Accident Funds, as per Revenue Account 38,538 6 1 Debentures issued under authority of the Claims admitted (proofs not yet com- Finance Act, 1915 .. .. .. 10,000 0 0 pleted) .. .. .. 12,000 0 0 New Zealand Inscribed Stock — War Commission .. .. .. 521 5 6 Loans .. .. .. .. 100,500 0 0 Premium and other deposits .. .. 128 15 2 New Zealand Inscribed Stock .. .. 3,000 0 0 Sundry creditors .. .. .. 302 18 2 Mortgages on property .. .. 53,013 310 Officers' Fidelity Fund .. .. 500 0 0 £ s. d. Reserve for unearned premiums .. 17,825 0 0 Overdue interest .. 19 10 0 Investment Fluctuation Reserve .. 3,000 0 0 Outstanding interest due Reserve Fund constituted under see- but not overdue .. 110 13 8 tion 20 of the Government Accident Interest accrued but not Insurance Act, 1908 .. ..115,019 19 11 due.. .. .. 1,905 13 8 2,035 17 4 Agents' balances .. .. .. 235 1311 Sundry debtors .. .. .. 2,157 7 0 Cash in hand and on current account .. 16,894 2 9 £187,836 4 10 £187,836 4 10 A. T. Traversi, F.1.A., F.C.A.S., Commissioner. G. A. Kennedy, Secretary. Government Insurance Department, Bth June, 1925. The Audit Office, having examined the Revenue Account and balance-sheet and compared them with the relative books, documents, and securities, hereby certifies them to be in accordance therewith. —G. F. C. Campbell, Controller and Auditor-General.

B.—l [PT. IV, Sup.] .

GOVERNMENT FIRE INSURANCE FUND. (Established under section 5, Public Revenues Amendment Act, 1912.) Revenue Account for the Year ended 31st March, 1925. £ s. d. £ s. d. Accumulated fund as at Ist April, 1924 .. 18,305 14 7 Claims paid— Contribution in terms of Section 5, Public Invercargill Police-station .. .. 14 0 0 Revenues Amendment Act, 1912 .. 10,000 0 0 Whitford Post-office .. .. 8 0 0 Public Trust Office—lnterest at Common Motueka Post-office .. .. 85 0 0 Fund rate on balance at credit .. 2,479 2 6 Mount Eden Public Works Stores .. 7 0 0 Claims due but not paid, £ s. d. Epsom School .. .. .. 6,500 0 0 31st March, 1924 .. 27,004 14 7 Newmarket .. .. .. 6,000 0 0 Less claims due but not Onehunga.. .. .. .. 4,791 13 4 paid, 31st March, Waikino .. .. .. .. 1,000 0 0 1925 .. .. 4,759 6 4 Kaitoke .. .. .. .. 24 2 6 — 22,245 8 3 Deep Creek .. .. .. 11 16 3 Refund of claim paid during 1922-23 due Te Horo .. .. .. .. 20 2 9 from Public Works Fund .. .. 304 0 0 Puketapu .. .. .. 950 0 0 Waipukurau .. .. .. 7,572 0 0 Reefton .. .. .. .. 12 16 10 Awatuna .. .. .. .. 20 0 9 Firnside .. .. .. .. 66 11 0 Mangamaunu .. .. .. 7 8 10 Mayfield .. .. .. .. 501 17 0 Orari .. .. .. .. 1,000 0 0 Sherwood Downs .. .. .. 6 15 0 Timaru South .. .. .. 51 14 5 Akatore .. .. .. .. 33 10 9 Kahuika .. .. .. .. 400 0 0 Luggate .. .. .. .. 469 0 0 Mataura .. .. .. .. 2,000 0 0 Tokomaru Bay .. .. .. 540 3 7 Whakawhitira .. .. .. 849 15 4 32,943 8 4 Accumulated fund as at 31st March, 1925 .. .. .. .. 20,390 17 0 £53,334 5 4 £53,334 5 4 Balance-sheet as at 31st March, 1925. Liabilities £ s. d. Assets. £ s. d. Accumulated fund as at 31st March, 1925 20,390 17 0 Amount invested in the' Common Fund of the Public Trustee (earning interest at 4i per cent.) .. .. .. 24,846 3 4 Claims due but not paid .. .. 4,759 6 4 Sundry debtors .. .. .. 304 0 0 £25,150 3 4 £25,150 3 4 A. D. Park, Accountant to the Treasury. The Treasury, Wellington, 4th August, 1925. I hereby certify that the Income and Expenditure Account and balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, except that payments on account of losses of furniture and equipment have been charged to the fund contrary to law, and have been deducted from the amount shown against claims due but not paid. —G. F. C. Campbell, Controller and Auditor-General.

B.—l [PT. IV, Sup.] .

GOVERNMENT LIFE INSURANCE DEPARTMENT. Revenue Account of the Government Life Insurance Department for the Year ended 31st December, 1924. £ 8. d. £ s. d. Amount of Funds at Ist January, 1924 6,222,484 13 0 Death claims under assurance policies, Renewal premiums — Assurance, An- including bonus additions .. 185,495 12 0 nuity, and Endowment .. .. 458,943 11 4 Endowment Assurances matured, inNew premiums (including instalments eluding bonus additions .. .. 222,962 8 6 of first year's premiums falling due Endowments matured .. .. 6,396 11 0 in the year) .. .. .. 49,481 310 Premiums returned on endowments .. 281 11 1 Single premiums—Assurance and En- Bonuses surrendered for cash .. 10,337 18 1 dowment .. .. .. 2,955 7 6 Annuities .. .. .. 20,886 410 Consideration for Annuities .. 11,360 11 8 Surrenders .. .. .. 35,677 2 2 Interest and Rent .. £343,216 14 2 Loans released by surrender .. 49,883 2 9 Less land and income Commission, new* .. £33,274 13 2 tax, £8,504 12s. ; „ renewal 3,242 13 4 property expenses, — — 36,517 6 6 £2,861 lis. Id. 11,366 3 1 Contribution to Superannuation Fund 1,200 18 4 331,850 11 1 Expenses of management-— Salaries— £ s. d. Bead Office .. 20,885 9 6 Blanch offices and agents .. 12,044 16 4 Extra clerical assistance .. .. 1,156 12 5 Medical fees and expenses .. .. 5,777 3 9 Travelling-expenses 1,340 8 4 Advertising .. 323 15 5 Printing and stationery 2,473 16 8 Rent .. .. 5,511 11 7 Postage and telegrams 1,600 12 8 Exchange .. 45 16 5 General expenses .. 3,739 15 5 Triennial expenses .. 3,878 19 1 58,778 17 7 Amount of funds, 31st December, 1924 6,448,658 5 7 £7,077,075 18 5 £7,077,075 18 5 * Including agenta' allowances.

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GOVERNMENT LIFE INSURANCE DEPARTMENT—continued. Balance-sheet of the Government Life Insurance Department on 31st December, 1924. Liabilities. \ Assets. £ s. d. 1 £ s. d. £ s. d. Total Assurance, Annuity, and En- Loans on policies .. .. 890,402 11 5 dowment Eunds (as per Revenue Government securiAccount) .. .. .. 6,448,658 5 7 ties— Claims admitted, proofs not yet com- Consolidated stock 625,900 0 0 pleted .. .. .. 45,629 1 6 Debentures issued Annuities .. .. .. 379 7 6 under the auCommission .. .. .. 1,900 19 5 thority of the FiMedical fees .. .. .. 554 18 6 nance Act, 1915 40,000 0 0 Premium and other deposits .. 5,184 10 11 New Zealand InSundry creditors .. .. .. 6,763 15 2 scribed StockAccident and Fidelity Fund .. 1,570 0 0 War Loans .. 1,201,370 0 0 Investment Fluctuation Reserve' 202,247 I 4 New Zealand Inscribed Stock — FinanceAct,l9l9 50,000 0 0 New Zealand Inscribed Stock —- Discharged Soldiers Settlement Loan .. 110,000 0 0 New Zealand Inscribed Stock issued under the Aid to Public Works and Land Settlement Act, 1921 .. 150,000 0 0 2,177,270 0 0 Municipal Corporation debentures .. 187,742 7 1 County securities .. .. .. 20,551 3 8 Harbour Board debentures .. 32,000 0 0 Town Board debentures .. .. 37,171 1 8 Road Board debentures .. .. 21,800 0 0 Drainage Board debentures .. 1,922 13 10 Power Board debentures .. .. 386,986 4 6 Landed and house property .. 134,563 11 10 Landed and house property (leasehold) 1,539 13 3 Mortgages on property .. .. 2,592,866 17 8 Properties acquired by foreclosure .. 4,747 11 1 Overdue premiums on £ s. d. policies in force .. 7,582 13 10 Outstanding premiums due but not overdue 45,071 5 11 52,653 19 9 Overdue interest .. 7,842 2 2 Outstanding interest due but not overdue 7,082 7 2 Interest accrued but not due .. 83,775 13 1 98,700 2 5 Agents' balances .. .. .. 4,508 9 2 I Sundry debtors .. .. .. 1,763 8 7 I Cash in hand and on current account 65,698 4 0 £6,712,887 19 11 | £6,712,887 19 11 A. T. Traversi, P.1.A., F.C.A.S., Commissioner. G. A. Kennedy, Secretary. Government Life Insurance Department, Bth June, 1925. The Audit Office, having examined the Revenue Account and balance - sheet and compared them with the relative books, documents, and securities, hereby certifies them to be in accordance therewith. —G. F. C. Campbell, Controller and Auditor-General.

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HUNTER SOLDIERS' ASSISTANCE TRUST ACCOUNT. Revenue Account for the Year ended 31st March, 1925. Dr. £ s. d. Cr. £ s. d. To Administration expenses .. .. 28 1 5 By Accrued rents .. .. .. 802 5 3 Rebates granted .. .. .. 35 6 6 " Thirds," " Fourths," &c. .. .. 71 2 1 Remissions of rents .. .. • ■ 33 1 6 Balance of revenue .. .. .. 634 13 9 £802 5 3 £802 5 3 Receipts and Payments Account for the Year ended 31st March, 1925. Receipts. £ s. d. Payments. £ s. d. Cash in Public Account, Ist April, 1924 .. 2,085 12 0 Administration expenses .. .. 28 1 5 Rents received .. .. .. 561 8 1 " Thirds," &c., paid to local bodies .. 71 2 1 Cash in Public Account, 31st March, 1925 2,547 16 7 £2,647 0 1 £2,647 0 1 Balance-sheet as at 31st March, 1925. Liabilities. £ s. d. Assets. £ s. d. Capital .. .. .. .. 20,164 13 10 Land endowed by Sir George Hunter .. 17,800 0 0 Rents charged in advance .. .. 200 5 0 Sundry debtors for rents .. .. 9 0 0 Balance of revenue .. . . .. 634 13 9 Postponed rent .. .. .. 642 16 0 Cash in Public Account .. .. 2,547 16 7 £20,999 12 7 £20,999 12 7 J. B. Thompson, Under-Secretary for Lands. 18th May, 1925. J. H. O'Donnell, Chief Accountant. I hereby certify that the Revenue Account and balance-sheet have been duly examined and compared with the copies of journal entries of the District Office, Napier, submitted for audit, and correctly state the position as disclosed thereby.—6. F. C. Campbell, Controller and Auditor-General.

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INDUSTRIES AND COMMERCE DEPARTMENT. Income and Expenditure Account for the Year ended 31st March, 1925. Expenditure. £ s. d. Income. £ s. d. To Salaries, overtime, and meal allowances 4,991 19 10 By Rent of Furniture .. .. .. 52 0 0 Advertising, periodicals, newspapers, &c. 161 7 4 Balance carried down .. .. 7,854 5 6 Freight, cartage, removal of offices .. 17 3 9 Fuel, light, office-cleaning .. .. 26 13 1 Expenses of participation in Industrial Exhibition .. .. .. 194 8 1 Office requisites, printing, stationery, departmental publications, typewriter repairs .. .. .. .. 138 11 9 Postages, telegrams, rent of boxes, code address, telephone services .. 338 13 9 Travelling expenses, allowances, removal expenses of officers .. .. 603 15 8 Rent of offices .. .. .. 732 18 4 Law-cost?.. .. .. .. 525 12 8 Depreciation .. .. .. 175 1 3 £7,906 5 6 S £7,906 5 6 £ s. d. £ s. d. To Balance brought down .. .. 7,854 5 6 By Commission received on sale of German Subsidies to steamer services— £ dyes .. .. .. .. 302 10 0 New Zealand-Vancouver .. 10,000 Recoveries of expenditure in former New Zealand-San Francisco 12,500 years .. .. .. .. 1 10 0 22,500 0 0 Balance (excess of expenditure over Subsidy to New Zealand and South income) .. .. .. 55,146 19 9 Seas Exhibition .. .. .. 25,000 0 0 Interest on capital outlay .. .. 96 14 3 £55,450 19-9 £55,450 19 9 Profit and Loss Account with regard to the Sale of Reparation German Dyes for Period Ist April, 1924, to 31st March, 1925. Br. £ s. d. Cr. £ s. d. To Balance at 3JstMarch, 1995 . . .. 898 11 10 By Balance at 31st March, 1924, as per Trading and Profit and Loss Account .. 898 11 10 • £898 11 10 £898 11 10 Balance-sheet as at 31st March, 1925. Liabilities. £ s. d. ! Assets. £ s. d. Capital Account .. .. .. 2,149 4 0 Office furniture and fittings .. .. 1,321 2 9 Sundry creditors .. .. . 14,177 15 10 Mechanical office appliances .. .. 379 16 6 Depreciation Reserve .. .. 486 9 0 Wellington Library .. .. .. 117 7 3 Treasury Adjustment Account .. 139,650 11 6 Half-share in refrigerating plant .. 270 13 8 Official stamps—Stock on hand, 31st March, 1925 .. .. .. 21 14 7 Expenditure in advance .. .. 10 4 8 British Empire Exhibition—• Expenditure to date— Balance, 31st March, £ s. d. 1924 .. .. 43,221 17 7 Expenditure, 1924-25 70,397 1 10 113,618 19 5 Less recoveries .. 14,422 18 3 — 99,196 1 2 j Income and Expenditure Account—Excess of expenditure over income for 1924-25 .. .. .. .. 55,146 19 9 £156,464 0 4 £156,464 0 4 J. W. Collins, Secretary, Department of Industries and Commerce. I hereby certify that the Income and Expenditure Account and balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, except that the accounts include a charge for interest for which the Department posseses no parliamentary appropriation, and a credit for furniture transferred to the Public Works Department for which no payment has been made.—J. H. FoWler, Deputy Controller and Auditor-General.

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DEPARTMENT OF JUSTICE. Income and Expenditure Account for the Year ended 31st March, 1925. Expenditure. £ s. d. Income. £ s. d. To Salaries—Judges .. .. .. 17,833 11 3 By Supreme Court revenue .. .. 53,071 4 6 Salaries—Magistrates .. .. 23,968 15 3 Magistrates' Courts revenue .. 116,559 4 7 Salaries —Staff .. .. .. 69,073 5 4 Wardens' Courts revenue .. .. 74 16 0 Travelling-expenses .. .. 10,354 410 Bankruptcy revenue .. .. 7,552 16 9 Advertising .. .. .. 499 10 5 Licensing revenue.. .. .. 2,060 19 6 Fuel, light, water, &c. .. .. 3,225 4 2 Patents revenue .. .. .. 12,908 10 1 Postage .. .. .. .. 2,987 1 2 Proportion Land Agents'license fees 1,349 10 0 Printing and stationery .. .. 6,317 19 10 License fees re King's Counsel .. 11 11 0 Rent .. .. .. .. 1,265 13 10 Estreated recognizances .. .. 90 0 0 Telephones .. .. .. 1,718 12 9 Fees re Shorthand Reporters Act .. 14 14 0 Typewriter repairs .. .. 87 14 0 Fees re searches, Wardens' Courts .. 4 8 6 Bankruptcy commission .. .. 5,404 6 7 Courthouse cleaning .. .. 1,933 10 7 Criminal prosecutions .. .. 15,445 0 5 Cost of inquests .. .. .. 5,691 0 8 Expenses under Juri' ct .. .. 1,659 10 9 Commission on monf -orders .. 301 12 11 Contingencies .. .. .. 62 12 5 Expenses, Circuit C urts .. .. 711 10 1 Expenses, reformatory institutions .. 3,201 10 8 Fees, fines, &c. .. .. .. 73 18 10 Law-costs .. .. .. 15 15 0 Subsidy, Chatham Islands steamer service.. .. .. .. 125 0 0 Special grants .. .. .. 228 0 0 Fees irrecoverable.. .. .. 6 5 0 Repairs and maintenance .. .. 4,206 0 9 Depreciation .. .. .. 7,459 1 6 Balance .. .. .. .. 9,841 5 11 £193,697 14 11 £193,697 14 11 £ s. d. By Excess of income over expenditure be- £ s. d. To Interest on capital .. .. 21,498 3 2 fore charging interest .. .. 9,841 511 Excess of expenditure over income .. 11,656 17 3 £21,498 3 2 £21,498 3 2 Balance-sheet as at 31st Mabch, 1925. Liabilities. £ s. d. Assets. Capital .. .. .. .. 477,736 17 8 £ s. d. £ s. d. Sundry creditors .. .. .. 11,956 17 8 Buildings and sites .. 435,397 9 5 Suspense Account .. .. .. 6 5 0 Additional .. .. 4,229 18 0 Depreciation reserve .. .. .. 30,139 11 10 439,627 7 5 Patent Office library .. .. 5,000 0 0 Office furniture and fittings 35,026 3 0 Additional .. .. 553 18 11 —— 35,580 1 11 Mechanical appliances .. 2,623 13 6 Additional .. .. 379 4 1 3,002 17 7 Motor-vehicles .. .. .. 233 15 6 Sundry debtors .. .. .. 459 6 8 Expenses paid in advance .. .. 678 9 6 Treasury Adjustment Account.. .. 23,600 16 4 Excess of expenditure over income .. 11,656 17 3 £519,839 12 2 £519,839 12 2 15th July, 1925. E. P. Ward, Under-Secretary. I hereby certify that the Income and Expenditure Account and balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, except that the accounts include charges against the Department for rent, interest, repairs, and additions to buildings for which the Department possesses no parliamentary appropriation, and also credits for rents and a building transferred to the Police Department for which the respective Departments possess no parliamentary appropriation. —G. F. C. Campbell, Controller and Auditor-General.

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MAIN HIGHWAYS ACCOUNT. CONSTRUCTION FUND. Income and Expenditure on Capital Account fob the Year ended 31st March, 1925. Expenditure. Income. To Expenditure on construction and improvement of main highways— £ s. d. By Sundry recoveries on Highway Construction Account— £ s. d. £ s. d No. 1 Highway District .. .. .. .. .. .. 28.024 4 4 No. 1 Highway District 2 ~ .. .. .. .. .. .. 40,928 19 2 2 „ .. .. .. .. 3,063 11 4 „ 3 „ .. .. .. .. .. .. 7,343 16 4 „ 3 „ .. .. .. 417 4 11 „ 4 „ .. .. .. .. .. .. 24,838 10 6 ~4 „ .. .. .. 329 3 9 ..5 .. .. .. .. .. .. 19,703 15 8 „ 5 „ .. .. .. 115 9 8 ~6 „ .. .. .. .. .. .. 23,024 19 6 „ 6 „ .. .. .. 134 5 4 ~7 „ . .. .. .. .. .. 27,707 12 10 „ 7 ~8 .. .. .. .. .. .. .. 7,967 18 8 8 ~ 9 .. .. .. .. .. 18,896 17 7 „ 9 „ .. .. .. 710 1 10 ..10 .. .. .. .. 2,241 15 9 „ 10 „ 11 „ .. .. .. .. .. 520 9 1 „ 11 „ 12 „ .. .. .. .. .. 10,213 9 9 „ 12 „ .. .. .. .. 52 3 10 ~13 .. .. .. .. .. .. 24,035 12 7 „ 13 „ .. .. .. 202 1 3 ~14 „ .. .. .. .. .. .. 719 8 4 „ 14 ~ 15 . .. .. .. .. .. .. 577 10 0 „ 15 16 .. . .. .. .. .. 1,132 9 11 „ 16 ,17 „ .. .. .. .. .. 292 4 4 „ 17 ~ .. .. .. 416 3 9 ~ 18 .. .. .. 559 13 0 „ 18 5,440 5 8 Receipts under section 15 (2), Finance Act, 1923— From Public Works Fund, General Purposes Account .. .. .. *226,000 0 0 Balance, being excess of capital expenditure over capital income for year, transferred to Main Highways Construction Fund Account .. .. 7,289 1 8 £238.729 7 4 £238,729 7 4 * Interest on this amount is paid from Consolidated Fund.

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MAIN HIGHWAYS ACCOUNT— continued. REVENUE FUND. Income and Expenditure Account foe the Year ended 31st March, 1925. Expenditure. To Net expenditure on maintenance of main highways:— £ s. d. £ s. d. j Income. £ s. d. No. 1 Highway District .. .. .. .. 9,128 11 7 I By Income from tire-tax under sections 13 and 14, Main Highways Act, 1922 .. 161,985 13 0 „ 2 „ .. .. .. .. 6,739 16 8 j Income from motor-registration licenses under section 24, Motor-vehicles Act, 3 „ .. .. .. .. 6,687 6 10 ! 1924 .. .. .. .. .. .. .. .. 268,178 11 6 „ 4 .. .. .. .. 4,802 12 8 i Income from— £ s. d. „ 5 „ .. .. .. .. 11,481 16 6 j Rents from ferries .. .. .. .. .. 47 10 0 „ 6 , .. .. .. .. 6,718 13 7 | Tolls from ferries .. .. .. .. .. 391 6 6 7 „ .. .. .. .. 10,110 10 4 | — 438 16 6 „ 8 „ .. .. .. .. 6,376 15 3 i Amount transferred from Consolidated Fund under section 14, Main Highways „ 9 .. .. .. .. 10,199 4 0 1 Act, 1922 .. .. .. .. .. .. .. .. 35,000 0 0 „ 10 „ .. .. .. .. 7,520 12 5 Interest from investment? .. .. .. .. 12,462 18 10 „ 11 „ .. .. .. .. 6,761 4 6 „ 12 „ .. .. .. .. 16,478 16 4 „ 13 „ .. .. .. .. 5,360 9 6 „ 14 „ .. .. .. .. 5,002 4 4 „ 15 „ .. .. .. .. 4,579 2 4 „ 16 „ .. .. .. ..846 14 10 „ 17 „ .. .. .. 1,692 19 7 „ 18 „ .. .. .. .. 3,187 13 10 123,675 5 1 Fees and travelling-expenses of members of the Main Highways Board other than Government members .. .. .. .. .. .. 1,437 12 1 Administration and supervision expenses, including salaries and travellingexpenses of Public Works officers, printing, stationery, postages, and miscellaneous expenses .. .. .. .. .. .. .. 6,325 10 5 Commission on collection of motor-registration fees by Postal Department .. 7,500 0 0 Depreciation on— £ s. d. Plant ............ 5 12 6 Furniture and fittings .. .. .. .. 18 16 1 — 24 8 7 Balance, being excess of income over expenditure for year, transferred to Accumulated Revenue Fund .. .. .. .. .. .. 339,103 3 8 | £478,065 19 10 £478,065 19 10

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J. J. Gibson, Accountant, Public Works Department. F. W. Fukkert, Chairman, Main Highways Board I hereby certify that the Income and Expenditure Account and the balance-sheet has been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.— J. H. Fowler, Deputy Controller and Auditor-General.

MAIN HIGHWAYS ACCOUNT— continued. General Balance-sheet as at 31st March, 1925.

Liabilities. Revenue Fund. Con^ d ction Total. Assets. Revenue Fund, j | Total. Excess of income over expenditure — £ s. d. £ s. d. £ s. d. Cash in Treasury — £ s. d. £ s. d. £ s. d. 1922-24 .. .. .. .. j 256,791 14 4 ; At call .. .. .. .. •• 54,373 7 5 545 15 3 1924-25 .. .. .. .. 339,103 3 8 .. ! Temporarily" invested until required .. 527,000 0 0 595,894 18 0 " 581,919 2 8 Sundry creditors .. .. .. .. 19,548 2 8 22,384 19 11 41,933 2 7 j Sundry debtors .. .. .. .. 314 2 5 617 13 4 931 15 9 Writings off Suspense Account: -MaU:ria l_ and 1 Motor-registration fees: Collected but still in stores as per contra .. .. .. j 128 3 0 17 0 9 145 3 9 hands of Postal Department .. .. 10,279 9 6 Due but unpaid .. .. .. .. 500 0 0 .. 10,779 9 6 Tire-tax : Collected but still in hands of Customs Department .. .. .. .. 14,929 13 4 .. 14,929 13 4 Interest from investments — Due but unpaid .. .. .. .. 764 7 6 i Accrued .. .. .. .. 3,073102 | | 3,837 17 8 ! Material and stores .. .. .. [ 2,858 15 4 13,932 9 8 16,791 5 0 | j Material and Stores Deficit Account .. .. 128 3 0 17 0 9 145 3 9 £ s. d. Furniture and fittings .. .. 264 11 1 Less depreciation .. .. 18 16 1 245 15 0 .. 245 15 0 Plant and equipment .. .. 1,109 12 6 Less depreciation .. .. 5 12 6 1,104 0 0 .. 1,104 0 0 Construction Fund : Excess of capital expenditure over capital income .. .. .. •• 7,289 1 8 7,289 1 8 £615,571 3 8 £22,402 0 8 £637,973 4 4 |£615,571 3 8 j£22,402 0 8 £637,973 4 4

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NATIONAL PROVIDENT FUND. (1.) Revenue Account for the Year ended 31st December, 1924. £ s. d. j £ s. d. Amount of fund at beginning of year .. 969,945 11 4 Maternity claims (section 18) .. 7,326 0 0 Contributions .. .. .. 150,972 3 1 Maternity claims (approved friendly Interest .. .. .. .. 60,687 0 4 societies) .. .. .. 32,966 0 0 Fines .. .. • • • • 816 5 0 Refund of contributions on lapse, reGoverriment contribution under Act.. 38,421 8 5 duction, and withdrawal (sections Refund of maternity claims by the 10, 11, 12, and 13) .. .. 37,156 7 3 State .. .. .. .. 40,292 0 0 Incapacity allowances (sections 16 and Contributions overpaid on exit .. 25 5 5 17), including contributions waived Benefits refunded on exit .. .. 2,858 12 ] on incapacity (£360 9s. 7d.) .. 2,515 4 8 Miscellaneous receipts .. .. 012 6 Death : Refund of contributions (sections 14 (5) and 15) .. .. 2,599 17 0 Death: Allowances on account of widows and children (section 14) .. 6,364 9 8 Retirement: Allowances (section 12) 9,781 10 3 Refund of contributions overpaid on exit .. .. .. .. 25 5 5 Amount of fund at end of year .. 1,165,284 311 £1,264.01 18 2 . £1,264,018 18 2 Balance-sheet as at 31st December, 1924. Liabilities. £ s. d. Assets. £ s. d. Fund as per Revenue Account .. 1,165,284 311 In hands of Public Trustee— Claims due and in course of payment— Invested .. .. .. 1,098,817 1 1 Maternity .. .. .. 5,321 14 5 Uninvested .. .. .. 18,872 12 1 Death (section 15) .. .. 231 19 8 Mortgage security acquired.. .. 7,000 0 0 Death: Allowances (section 14) .. 267 17 3 Balance with Post Office .. .. 4,420 0 1 Allowances (section 12) .. .. 424 18 7 Balances in transit .. .. 6,556 15 3 Allowances (section 16) .. .. 165 2 7 Contributions outstanding or in course Refunds in suspense .. .. 24,555 4 1 of transmission*— Deposits on incomplete applications to (a.) Contributions due but not to join fund .. .. .. 212 3 overdue .. .. 10,923 11 5 Suspense Account.. .. .. 73 10 11 j (6.) Contributions overdue .. 3,306 19 2 One half contributions of members of ! Government subsidy due under Act*. . 38,421 8 5 Expeditionary Forces overpaid by ! Refund due in respect of maternity State . . .. .. .. 46 10 5 claims* .. .. .. 5,746 0 0 Contributions prepaid .. .. 4,830 1 9 Fines due* .. .. .. 413 7 4 Investment Fluctuation Reserve (by Interest due* .. .. .. 5,191 3 0 transfer from refunds unclaimed) .. 14,696 10 9 : Interest accrued, but not due* .. 16,231 8 9 £1,215,900 6 7 £1,215,900 6 7 * Included in Revenue Account. 17th July, 1925. A. T. Traversi, Superintendent. I hereby certify tliat the balance-sheet and Revenue Account have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby. —Gr. F. C. Campbell, Controller and Auditor-General,

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NATIVE TRUST OFFICE. Revenue Account for the Year ended 31st .March. 1925. P r - £ s. d. £ s. d. ( Cr. £ s. d. To Salaries— [By Commission, fees, and charges 5,10U 4 9 Permanent .. .. .. 5,518 16 8 Net interest on investments 13,419 3 4 Temporary .. .. .. 609 6 0 6,128 2 8 Additions, improvements, repairs, maintenance, and insurance of premises, plant, &c.— Office premises .. .. 34 8 2 Office furniture .. .. 8 3 2 Office instruments and machinery 10 16 3 Office insurance .. .. 2 3 11 55 11 6 Audit fees for inspection of accounts .. .. 50 0 0 Maori Ethnological Research Fund, contribution towards .. .. .. .. 250 0 0 Overtime and meal allowances .. .. 335 6 4 Postages, telegrams, and rent of boxes .. 149 8 2 Post and Telegraph Department— Payment for services .. 51 16 6 Liability, 31st March .. 19 15 0 71 11 6 Printing and stationery .. .. .. 271 16 2 I Rent .. .. .. .. .. 250 0 0 Services for cleaning, lighting, firing, &c. .. 199 8 7 Telephone charges .. .. .. .. 76 13 9 j Travelling-expenses— Removal, &c., of officers .. 50 17 9 Officers on duty .. .. 209 14 2 260 11 11 Native Trust Office Board — Fees to members .. .. .. 32 10 0 Public Service Superannuation Fund, contribution towards .. .. .. .. 178 11 10 Contingencies .. .. .. .. 107 2 9 Depreciation of office furniture, fittings, instruments, and machinery .. .. .. 205 17 0 Net profit to Appropriation Account .. .. 9,896 1511 £18,519 8 1 £18,519 8 1 Appropriation Account for the Year ended 31st March, 1925. Dr. £ s. d. Cr. £ s. d. To Reserve and Assurance Fund .. 8,906 15 II By Net profit for year ended 31st March, Investment Fluctuation Fund .. 990 0 0 1925, transferred.. .. .. 9,896 1511 £9,896 15 11 £9,896 15 11 Balance-sheet as at 31st March, 1925. Amounts held under— £ s. d. I Sundry assets —• £ s. d. £s. d. £ s. d West Coast Settlement Re- ! Office furniture .. 381 14 2 serves Act, 1892 .. 66,805 18 7 Less depreciation (10 Native Reserves Act, 1882 percent.) .. 37 14 0 (as per statement at- 344 0 2 tached) .. .. 50,134 2 9 Office fittings .. 431 6 0 Native Land Act, 1909 Less depreciation (20 (Part X) .. .. 142,945 16 10 percent.) .. 121 8 0 Native Land Act, 1909 — 309 18 0 (Miscellaneous) .. 38,528 7 9 Office instruments and Native Trustee Act, 1920, machinery .. 185 19 9 and amendments .. 25,822 4 8 Less depreciation (15 Miscellaneous funds (including per cent.) .. 46 15 0 Maori Land Board accounts) 492,097 1 3 —— 139 4 9 Sundry creditors .. .. 19 15 0 Stationery .. .. .. 184 17 8 Reserve and Assurance Fund 44,274 0 8 978 0 7 Investment Fluctuation Fund 4,946 2 0 Stocks, bonds, and debentures— Government securities .. .. 15,000 0 0 Local bodies'securities .. 195,290 0 0 210,290 0 0 J Mortgages (including special investments) .. .. .. .. 626,454 14 3 Interest due and accrued .. .. 14,245 5 2 Sundry debtors —Advances to accounts, &c. .. .. .. .. 10 19 7 Cash on hand and in bank, and Agent's balances .. .. .. 13,594 9 11 _________________ • ________________ £865,573 9 6 [ £865,573 9 6 The Audit Office, having examined the balance-sheet and accompanying accounts and compared them with the relative books, documents, and securities, hereby certifies them to be in accordance therewith.—G. F. C. Campbell, Controller and Auditor-General.

6 —B. 1 [PT. IY, Sup.] .

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NAVAL DEFENCE. Statement of Receipts and Payments eor the Year ended 31st March, 1925. Receipts. Payments. Recoveries on account of pay, &c.— £ s. d. By Full pay and wages—• £ s. d. Pay, &c. .. .. .. .. 2,939 1 4 Administrative staff .. .. .. 2,834 13 5 Clothing .. .. .. .. 4,779 4 2 Officers and ships'companies .. .. 128,777 311 Victualling .. .. .. 3,869 4 2 Charges for and incidental to— Admiralty, on account of coal—Coal to Administration expenses of allotments .. 178 10 0 Imperial sloops .. .. .. 8,340 12 8 Moneys due to Admiralty, remittances, &c. .. 25 18 0 Sale of stores .. .. .. 1,797 16 1 Clothing, Implement, and Victualling AccountsRent .. .. .. .. 47 2 9 Clothing purchases .. .. .. .. 5,322 3 3 Contingencies-—Pay and prize money (Im- Kit-upkeep allowance .. .. .. 5,527 14 8 perial) .. .. .. .. 3,716 5 7 Purchase of mess-traps .. .. .. 470 18 6 Miscellaneous other sources— Leave allowance .. .. .. .. 2,681 12 9 Moneys due to Admiralty— Victualling of personnel .. .. .. 20,855 18 0 Postal orders .. .. .. 237 0 0 Medical services—■ Unpaid postage .. .. .. 3 18 0 Dental treatment ashore .. .. .. 351 4 0 Recoveries — Medical examination of recruits .. .. 151 3 0 Purchase of mess-traps . . . . 12 9 5 Medical treatment ashore .. .. .. 771 4 9 Leave allowance .. .. .. 11 12 0 Stores, medical .. .. .. .. 434 10 9 Medical treatment ashore .. .. 41 17 0 Repairs, alterations, docking, &c.— Oiler R.F.A. "Nucula" .. .. 14 2 2 H.M.S. " Chatham. .. .. .. 176 9 9 New Zealand Reserves .. .. 2 10 0 H.M.S. " Dunedin" .. .. .. 637 19 7 Advertising, &c. .. .. .. 2 8 0 H.M.S. " Philomel" .. .. .. 783 14 7 Freight, &c. .. .. .. 660 19 7 Contribution for priority use of Calliope Dock .. 5,000 0 0 Passages, &c. .. .. .. 143 14 11 Removal of machinery from H.M.S. " Philomel " 30 7 6 Postages, &c. .. .. .. 66 1 7 Fuel and lighting, coal and oil fuel, &c.' — Printing and stationery .. .. 4 11 3 H.M.S. " Chatham".. .. .. .. 3,337 18 6 Telephone services .. .. .. 015 1 H.M.S. " Dunedin" .. .. .. 17,788 19 2 Typewriter repairs .. .. .. 013 4 Hire oiler R.F.A. " Nucula" .. .. .. 17,731 11 9 Deferred pay .. .. .. 25 0 4 H.M.S. " Philomel" ... ... .. 1,823 8 6 Net issues from Treasury .. .. 283,365 6 0 Coal, Auckland and Suva .. .. .. 16,574 19 9 Gas for Navy Office and Devonport .. .. 43 3 7 Supply of electricity to ships and buildings .. 62 5 6 Stores—Naval engineers, torpedo, &c. .. .. 17,485 811 Works — Alterations to magazines .. .. .. 32 0 4 Emergency sick-quarters .. . . .. 8 5 3 Erection of naval store .. .. .. 1,569 4 5 Erection of two oil-tanks .. .. .. 11,312 13 8 Maintenance of dockyard, plant, and buildings .. 114 19 4 Upkeep and improvement, recreation-ground .. 2 10 Purchase of land for expansion .. .. .. 1,010 9 6 New Zealand Reserves— Medical examination, pay, retainers, and travellingexpenses .. .. .. .. .. 1,362 1 2 Miscellaneous effective services— Advertising, books, &c. .. .. .. .. 1,100 7 2 Allowance in lieu of quarters .. .. .. 437 18 7 Bonuses to recruiters .. .. .. .. 46 0 0 Cleaning Navy Office .. .. .. .. 39 6 8 Compensation for injuries, &c. .. .. .. 1,041 4 0 Freight, insurance, &c. .. .. .. .. 5,211 11 10 Gunnery and Torpedo Efficiency Fund . . .. 65 14 2 Office fittings .. .. .. .. .. 211 3 9 Passages, &c. .. .. .. .. .. 6,145 0 0 Playing harmonium at Divine service .. .. 8 5 0 Postages, &c. .. .. .. .. .. 572 18 11 Printing and stationery .. .. .. .. 340 15 3 Rebate of duty to officers .. .. .. 15 0 2 Rent of Navy Office and storerooms .. .. 411 15 3 Telephone services .. .. .. .. 161 16 11 Training Service Fund .. .. .. . . 73 19 0 Typewriter repairs .. .. .. .. * 7 18 0 Miscellaneous non-effective services— Deferred pay, including pension contribution .. 25,944 8 7 National health insurance to Admiralty .. .. 175 1 5 Rebate of income-tax .. .. .. .. 121 7 6 Contingencies and unforeseen expenditure— Sums recoverable from Admiralty on account of pay, &c. 1,503 17 2 Prize-money, Imperial .. .. .. .. 1,130 10 0 Exchange on currency .. .. .. .. 16128 Cash found in effects .. .. .. .. 213 0 Administration charges on coal .. .. .. 17 0 0 Unauthorized No. 147 —Deferred pay .. .. 9 3 8 £310,082 5 5 | £310,082 5 5 22nd May, 1925. Reginald Butcher, Naval Secretary. I hereby certify that the Statement of Receipts and Payments has been duly examined and compared with the relative books and documents submitted for audit, and correctly states the position as disclosed thereby. G. F. C. Campbell, Controller and Auditor-General.

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NEW ZEALAND CONSOLS ACCOUNT. Income and Expenditure Account fob the Year ended 31st March, 1925. Expenditure. £ s. d. Income. £ s. d. To Interest on loans .. .. .. 15,933 6 8 By Fees received .. .. .. 0 5 0 Excess of income over expenditure .. 3,860 14 1 Interest on investments .. .. 19,793 15 9 £19,794 0 9 £19,794 0 9 To Excess of expenditure over income to £ s. d. By Excess of income over expenditure for £ s. d. 31st March, 1924 .. .. 5,363 8 6 year ended 31st March, 1925 .. 3,860 14 1 Balance —Net excess of expenditure over income .. .. .. 1,502 14 5 £5.363 8 6 £5,363 8 6 Balance-sheet as at 31st March, 1925. Liabilities. £ s. d. Assets. £ s. d. Consols not claimed at maturity .. 500 0 0 Investment Account .. .. .. 475,985 0 0 Interest due and unpaid on loans .. 4 3 1 Cash in Deposit Account .. .. 614 0 Treasury Adjustment Account .. 480,441 11 11 Interest accrued on investments .. 3,424 10 5 Interest due and unpaid on investments 26 16 2 Income and Expenditure Account —Net excess of expenditure over income .. 1,502 14 5 £480,945 15 0 £480,945 15 0 The Treasury, Wellington, 14th July, 1925. A. D. Park, Accountant to the Treasury. I hereby certify that the Income and Expenditure Account and balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby. —J. H. Fowler, Deputy Controller and Auditor-General.

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PRINTING AND STATIONERY DEPARTMENT. Trading Account for the Year ended 31st March, 1925.

Profit and Loss Account for the Year ended 31st March, 1925.

Per Cent. Per Cent. Dr. j Or. 1924. 1925. I „ I 1924. j 1925. To— I By— Paper and material— £ s. d. £ s. d. I Sales— £ s. d. £ s. d. ' Stock at beginning 24,499 12 0 ' Manufacturing .. 191,167 5 3 Add purchases .. 36,744 13 9 Less work in progress, 31st March, 61,244 5 9 1924 .. .. 13,433 14 11 Less stock on hand, — 31stMarch, 1925 20,682 13 4 177,723 10 4 40,561 12 5 18-78 18 03 Add work in proStationery— | gress, 31st March, Stock at beginning 8,864 16 3 1925.. .. 10,578 2 3 Add purchases .. 23,989 4 11 ——— 188,301 12 7 32,854 1 2 | Stationery and Less stock on hand, \ publications .. 29,010 4 3 31st March, 1925 11,343 16 6 j Typewriters .. 3,598 3 2 21,510 4 8 10-26 9-57 220,910 0 0 9804 98-2? Typewriters— | Discounts received .. 170 11 5 0-06 0 09 Stock at beginning 1,447 15 1 Add purchases .. 3,231 16 6 4,679 11 7 Less stock on hand, 31st March, 1925 1,447 0 2 3,232 11 5 1-08 1-44 Wages (productive) 80,809 7 6 40-18 35-93 Wages(establishment) 25,508 6 10 11-53 11-34 Wages (Stationery Office) .. 4,531 19 5 2-05 2-01 Freight (inward) .. 5,877 12 1 2-75 2-62 Lighting (proportion) 488 0 1 0-18 0-22 Power .. .. 1,200 12 6 0-57 0-54 Fuel .. .. 1,183 5 6 0-54 0*53 Water .. .. 117 3 0 0-06 0-05 119,716 6 11 Balance to Profit and Loss .. .. .. 36,059 16 0 10-12 16-03 £221,080 11 5 98-10 98-31 j £221,080 11 5 98 10 98 31

Per Cent. Per Cent. Dr. Gr. : 1924. 1925. 1924. j 1925. £ s. d. £ s. d. To Office salaries .. .. 4,765 14 5 2-22 2-12 By Balance from Trading Account 36,059 16 0 10-12 16-03 Repairs and alterations to build- Storing and handling stationery ing and plant .. .. 1,168 17 9 0-47 0-52 for other Government DePostages and telegrams .. 1,155 3 6 0-56 0-51 partments .. .. 613 9 2 0-32 0-28 Freight (outward) .. .. 995 9 0 0-54 0-44 Commission on sales of publicaInsurance .. .. .. 133 6 9 0-05 0-06 tions .. .. .. 2,985 19 3 1-46 1-32 Exchange .. .. .. 25 9 7 0-01 0-01 Bent receivable .. .. 236 0 0 0-12 0-10 Discounts allowed .. .. 56 8 11 0-05 0-02 Telephones (rental, alterations, and renewal domestic telephone system) .. .. 403 6 7 0-02 0-18 Medical services .. .. 122 1 10 0-08 0-05 Lighting (proportion) .. 40 0 0 0-02 0-02 Proportion rent High Commissioner's Office .. .. 150 0 0 0-08 0-07 Office expenses .. .. 443 17 3 0-21 0-20 Audit fee .. .. .. 50 0 0 0-05 0-02 Wages, charwomen and watchmen .. .. .. 2,278 10 1 1-24 1-01 Interest on capital .. .. 9,724 7 10 4-35 4-31 Depreciation .. .. 4,653 6 0 1-44 2-08 Loss on sale printing-machine.. 43 14 6 .. 0-02 Balance carried down .. 13,685 10 5 .. 6-09 £39,895 4 5 .. 17-73 £39,895 4 5 .. 17-73 By Balance brought down .. £13,685 10 5

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PRINTING AND STATIONERY DEPARTMENT—continued. Balance-sheet as at 31st March, 1925. Liabilities. £ s. d. Asset*. £ s. d. £ s. d. Capital Account .. .. .. 216,097 12 1 Land .. .. .. 60,600 0 0 Sundry creditors .. .. .. 6,784 18 1 Buildings .. .. .. 46,000 0 0 Wages accrued .. .. .. 699 16 0 Plant and machinery (reBad debts reserve .. .. .. 215 15 2 valuation) — Writings off Suspense Account.. .. 216 9 10 Composing plant .. 10,118 13 8 Depreciation Reserve Account .. .. 4,653 6 0 Printing plant . . 13,008 15 6 Goods on consignment .. .. 14 7 0 Binding plant .. 9,183 12 9 Balance, Profit and Loss Account .. 13,685 10 5 Litho and photo plant 3,435 19 1 Sterotype plant .. 546 0 0 Engine-room plant .. 1,627 17 8 Miscellaneous plant .. 1,718 14 6 39,639 13 2 Motor-van .. .. .. 735 0 0 Type .. .. .. 7,407 15 5 Furniture, fittings, and office equipment .. .. 1,845 8 8 Accessories— Composing Branch .. 2,456 6 8 Printing and Binding Branches .. .. 504 1 1 Litho Branch .. 205 17 6 Stereotype Branch .. 9 0 6 Paper-store .. .. 5 3 6 Engine-room .. 3 15 6 3,184 4 9 Sundry debtors .. .. 28,829 17 2 Stock Suspense Account .. 172 15 4 Treasury Adjustment Account .. 9,901 710 Work in progress .. .. 10,578 2 3 Stock on hand .. .. 33,473 10 0 £242,367 14 7 £242,367 14 7 H. M. C. Robertson, Accountant. I hereby certify that the Trading Account, Profit and Loss Account, and balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as di clo ed thereby, except that the accounts include charges for interest and expenditure on buildings for which the Department possesses no parliamentary appropriation.—J. H. Fowler, Deputy Controller and Auditor-General.

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PUBLIC SERVICE SUPERANNUATION FUND. Revenue Account for the Year ended 31st March, 1925. £ a. d. , Amount of fund at beginning of year.. 2,039,042 19 11 Retiring-allowances — £ s. d. Members'contributions— To members .. .. .. 244,882 0 0 Under section 29 (ordinary) .. 231,626 16 3 To widows and children .. .. 15,826 6 4 Transfers from other superannuation Contributions returned— funds .. .. .. 102 15 10 Under section 46 (aa) (left service) .. 40,518 3 7 Interest on contributions.. .. 29 15 2 Under section 42 .. .. 6,875 1 6 Government subsidy— £ Under section 32 (/) .. .. 2,768 16 1 Statutory .. .. 86,000 Under section 38 .. .. 192 4 8 Additional .. .. 50,000 Contributions to other superannuation 136,000 0 0 funds (section 48) .. .. 271 15 7 Interest on investments .. .. 122,480 13 8 Expenses— Fines, &e. .. .. .. 333 17 7 Salaries .. .. .. 2,692 17 3 Medical fees .. .. .. 42 0 0 Postage, services, &e. .. .. 199 510 Audit fees .. .. .. 50 0 0 Heating and lighting .. .. 16 9 0 Rent .. .. .. .. 149 i 1 Cleaning .. .. .. 104 19 1 Messenger service .. .. 75 0 0 » Furniture and fittings .. .. 40 6 4 Office appliances .. .. 472 7 6 Contingencies .. .. .. 46 0 5 Printing and stationery .. .. 169 3 6 Typewriters, &c. (upkeep) .. 8 6 11 Public Trustee's charges .. .. 3,061 17 6 Balance as at 31st March, 1925 .. 2,211,154 16 3 £2,529,616 18 5 £2,529,616 18 5 Balance-sheet as at 31st March, 1925. Liabilities. £ s. d. Assets. £ s. d. Superannuation Fund Account— Amount invested by the Board .. 2,208,096 13 11 Balance from Revenue Account .. 2,211,154 16 3 Contributions due, in course of transLess amount transferred to Stipen- mission .. .. .. 17,463 7 2 diary Magistrates' Fund Account 13,754 15 5 Interest due and accrued .. .. 38,111 16 6 Cost-of-living bonus recoverable (Con--2,197,400 0 10 solidated Fund).. .. .. 93 3 2 Retiring and other allowances due, in Rates and taxes paid on behalf of course of payment— mortgagors (recoverable).. .. 11 16 7 To members .. .. .. 2,190 13 2 Sundry debtors .. .. .. 10 0 0 To widows and children .. .. 94 16 8 Balance in hands of Public Trustee .. 19,601 14 10 Refunds of contributions due, in course Bank account .. .. .. 17,785 13 1 of payment— Under section 46 (aa) (left service).. 843 2 1 Under sections 42 and 43 (death) .. 422 9 10 Under section 38 •. ■ • 55 19 1 Under section 48 • ■ .. 190 11 9 Expenses due, in course of payment— Heating and lighting .. .. 12 6 Publio Trustee's charges .. .. 952 15 11 Printing and stationery .. .. 2 14 7 Contributions paid in advance or in error .. .. .. •• 5,189 9 11 Unclaimed Account (contributions, &e.) .. .. .. .. 1,116 19 0 Post Office Account .. .. 14,391 18 8 Balance, Government subsidy* .. 64, 500 0 0 Mortgage Security Purchase Account 66 15 10 Stipendiary Magistrates' Superannuation Fund .. •• •• 13,754 15 5 £2,301,174 5 3 £2,301,174 5 3 * The Government subsidy is paid in January of each year. Owing to the change in the date of the financial year, to show the true position of the fund it is necessary to state this item as a liability. Subsidiary Account. Cost-of-living Bonus paid to Annuitants of the Public Service Superannuation Fund on behalf of the Treasury. £ s. d. £ s. d. To Amount disbursed for period Ist April, By Amount received from Treasury .. 17,135 16 3 1924, to 31st March, 1925 .. 17,228 19 5 Balance due .. .. .. 93 3 2 £17,228 19 5 £17,228 19 5 William M. Wright, Secretary, R. S. Wogjan, Accountant, Wellington, 15th June, 1925. Public Service Superannuation Board. I hereby certify that the Revenue Account and balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.—G. F. C. Campbell, Controller and Auditor-General.

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PUBLIC TRUST OFFICE. Balance-sheet op the Publics Trust Office as at 31st March, 1925. Liabilities. Assets. £ s. d. £ a. d. £ s. d. £ s. d. Amounts held in Common Freehold and leasehold preFund for sundry estates mises, sites, and balance and funds .. .. 10,573,026 19 3 purchase-money of preAmounts held for special mises sold .. .. .. 393,058 6 1 investment on behalf of Furniture and plant, &c. .. .. 34,287 15 2 certain funds, but not Stationery and stores, &c. .. 5,628 9 3 yet invested .. .. 74,339 15 0 Stocks, bonds, debentures — Amount specially invested Government securities .. 955,415 8 10 on behalf of certain Land Settlement Finance estates and funds .. 3,462,455 6 5 Act debentures .. 43,200 0 0 -20,109,822 0 8. Local bodies'debentures 4,827,646 13 3 Sundry creditors, including 5,826,262 2 1 accounts passed for pay- Mortgages .. .. 10,158,320 19 11 ment but not yet paid .. .. 125,621 8 11 Less reserve .. .. 54,917 0 0 Reserve for income-tax .. 19,659 15 10 —— 10,103,403 19 11 Reserve in respect of enemy- Advances for protection of property moneys .. 68,253 11 4 of securities acquired or Special reserve for securities 15,000 0 0 in possession .. .. .. 6,828 18 0 General Legal Expenses Properties acquired .. 45,598 17 2 Account .. .. 9,889 11 6 Less reserve .. .. 9,358 0 0 Investment Fluctuation Ac- 36,240 17 2 count .. .. 88,763 19 2 Advances (on overdraft) to 201,566 17 10 estates and accounts .. .. 318,426 2 5 Assurance and Reserve Interest and rent accrued, Fund .. .. .. 427,346 1 3 due and overdue — Interest accrued up to 31st March, 1925, but not yet due, and in- • terest overdue .. 282,467 9 0 Rent due or accrued .. 692 8 4 —- 283,059 17 4 Sundry debtors, including transactions in process of adjustment between Head Office and District Offices and Head Office and London .. .. .. 109,894 120 Cash in hand, on current account, and on deposit in New Zealand and in London .. .. .. 284,810 2 10 Special investments held on behalf of certain estates and funds— Government securities .. 188,509 18 0 Local bodies'debentures 919,379 10 0 Private shares and debentures .. .. 10,877 1 6 Mortgages .. .. 2,334,991 1 9 Savings-bank accounts .. 174 7 0 Overdue interest on investments .. .. 8,523 8 2 3,462,455 6 5 £20,864,356 8 8 £20,864,356 8 8 J. W. Macdonald, Public Trustee. W. Barr, Chief Accountant. The Audit Office, having examined the balance-sheet and accompanying accounts and compared them with the relative books, documents, and securities, hereby certifies them to be in accordance therewith.—G. F. C. Campbell, Controller and Auditor-General.

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PUBLIC TRUST OFFlCE—continued. Profit and Loss Account foe the Yeah ended 31st March, 1925. £ s. d. £ s. d. £ s, d. To Salaries .. .. .. .. 149,981 13 3By Commission and other income .. .. 299,438 14 10 Overtime .. .. .. 280 15 7 Service charges— Agents' commission.. .. 5,856 14 0 Services of High Commissioner 1,150 0 0 Services of General Post Office 528 0 0 7,534 14 0 Audit of books and accounts .. .. 700 0 0 Maintenance of premises and plant— Repairs, insurances, &c... .. .. 4,629 3 7 Rent .. .. .. .. .. 2,362 15 6 General charges— £ s. d. Advertising .. .. 4,314 7 6 Cleaning, lighting, heating, and power .. .. .. 3,152 9 1 Legal expenses .. .. 100 14 9 Rates .. .. ~ 865 9 4 Miscellaneous payments .. 525 17 5 Postages and freight .. 2,942 4 0 Stamp duty on receipts and cheques .. .. .. 601 14 4 Telephone subscriptions .. 1,288 12 8 Printing, stationery, and requisites .. .. .. 5,974 3 10 Travelling-expenses.. .. 4,266 16 5 Rangers' expenses in excess of fees charged .. .. 2,376 14 5 Extension of business .. 958 5 11 Salaries of custodians and staff 4,830 17 2 32,198 6 10 Depreciation on office premises, furniture, plant, &c. .. .. .. .. 11,229 0 0 Balance, being net profit for year, transferred to Appropriation Account .. .. 90,522 6 1 £299,438 14 10 £299,438 14 10 J. W. Macdonald, Public Trustee. W. Barr, Chief Accountant. Profit and Loss Appropriation Account for the Year ended 31st March, 1925. To Expenditure relative to years prior to Ist April, £s.d. I By Profit and Loss Account— £ s. d. 1924 — I Balance transferred .. .. .. 90,522 6 1 Interest payable to Native Trustee in Profit on sale of office premises .. .. 4,286 1 2 respect of sundry Native accounts .. 2,937 6 5 Public Service Superannuation Fund — Proportion subsidy for year 1924-25 .. 4,408 14 0 Reserve for income-tax, 1925-26 .. .. 15,500 0 0 General Legal Expenses Account .. .. 3,000 0 0 Assurance and Reserve Fund .. .. 23,708 13 5 Balance transferred to Investment Fluctuation Account .. .. .. .. 45,253 13 5 £94,808 7 3 £94,808 7 3 J. W. Macdonald, Public Trustee. W. Barr, Chief Accountant.

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General Balance-sheet as at 31st March, 1925. Liabilities. £ s. d. Assets. £ s. d. £ s. d. Capital Account— Railway Improvement Authorization AcBalance at credit thereof .. 577,601 5 7 count— Sundry creditors (including unpaid Cash in Public Account .. .. 37,801 5 7 wages) .. .. .. 332,984 16 0 Investments .. .. .. 539,800 0 0 Collections for refund to Harbour 577,601 5 7 Boards, shipping companies, and Working Railways— other carriers .. .. .. 33,628 18 3 Sawmills, stocks of timber, &c. .. 289,951 10 8 Treasury Adjustment Account .. 941,993 3 10 i Less Reserve Account .. .. 16,649 14 9 273,301 15 11 Stores and material on hand .. .. 714,707 10 11 988,009 6 10 Sundry debtors .. .. .. .. 77,382 9 5 Outstanding at stations— Cash in hand .. .. .. 15,870 1 3 Freights, &c. .. .. .. 136,608 10 9 — 155,478 12 0 Revenue Account— Deficiency for the year .. . . .. 87,736 9 10 £1,886,208 3 8 £1,886,208 3 8

NEW ZEALAND GOVERNMENT RAILWAYS. Capital Account as at 31st March, 1925.

Expended to 31st Expenditure during Total Expenditure to I Amount provided to Amount provided | Total Provision to 31st March, 1924. 1924-25. 31st March, 1925. 31st March, 1924. during 1924-26 j March, 1925. -q .—. : ! ! J i Expenditure. £ s. d. £ s. d. £ s. d. Receipts. ™ Lines open for traffic .. 31,776,094 4 9 2,850,069 11 10 34,626,163 16 7 From General Government Funds — £ s. d. £ s. d. £ s. d. Rolling-stock .. .. 9,366,414 10 5 284,080 5 4 9,650,494 15 9 Public Works Fund .. .. .. .. .. 37,335,931 8 8 2,918,443 15 5 40,254,375 4 1 1—1 Lake Wakatipu steamer service 44,350 11 1 Cr. 50 0 0 44,300 11 1 Wellington-Hutt Railway Improvement Account .. .. 228,373 5 5 .. 228,373 5 5 T~-House-factory and sawmill at Railway Improvement Account, 1904 .. .. .. 641,275 7 8 .. 641,275 7 8 Frankton Junction .. 53,492 16 0 61,486 1 9 114,978 17 9 Railway Improvement Account, 1914—- . Stores and material .. 159,075 7 0 Or. 24,266 18 6 134,808 8 6 Receipts as per Capital Account at 31st £ s. d. ; March, 1924.. .. .. .. 932,661 19 8 41,399,427 9 3 3,171,319 0 5 44,570,746 9 8 i Investments as per General Balance-sheet at Balance carried down .. .. .. 577,601 5 7 j 31st March, 1924 .. .. .. 831,475 9 1 j? | Total receipts .. .. .. 1,764,137 8 9 — Less expenditure by Public Works Depart- ' | i ment transferred to Unopened Lines Account .. .. .. .. 19,064 16 0 1,745,072 12 9 Proportion of cost of raising loan .. 18,065 17 6 i 1,763,138 10 3 .. 1,763,138 10 3 [ Consolidated Fund .. .. .. .. .. 4,296 7 10 .. 4,296 7 10 j Westport Harbour loans .. .. .. .. .. 350,000 0 0 .. 350,000 0 0 Works constructed from Harbour Board funds — Westport .. .. .. .. .. .. 71,640 0 0 .. 71,640 0 0 Greymouth .. .. .. .. .. .. 47,508 0 0 .. 47,508 0 0 ! Works constructed by provinces and Midland Railway Company, at valuation .. .. .. .. .. .. 1,787,741 0 0 .. 1,787,741 0 0 £41,399,427 9 3 3,171,319 0 5 45,148,347 15 3 | £42,229,903 19 10 2,918,443 15 5 45,148,347 15 3 Note. —Unopened lines are under the control of the Public Works Department, and all expenditure in connection therewith is included in the accounts of that Department.

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NEW ZEALAND GOVERNMENT RAILWAYS— continued. Income and Expenditure in respect of Railway Operation, Year ended 31st March, 1925.

Per Cent, of U ! | Per Cent, of Operating Bevenue. I j Operating Revenue. Dr. 1924-25. 1923-24. . Or. J 1924-25. 1923-24. | 1924-25. 1923-24. j j j 1924-25. 1923-24. To Expenditure. £ s. d. I s. d. By Revenue. £ s. d. £ s. d. Maintenance and renewal of permanent- Passengers, ordinary.. .. .. 2,073,456 3 8 2,133,268 5 1 29-28 30-67 way and works .. .. .. 1,1X3,048 7 11 1,143,281 10 7 15-72 16-43 Passengers, season tickets .. .. 210,741 11 0 212,380 2 4 2*98 3-05 Maintenance of signals .. .. 81,200 15 6 70,911 11 5 1-15 1-02 Parcels, luggage and mails .. .. 416,223 3 10 405,657 11 4 5-88 5-83 Maintenance and renewal of rolling-stock 1,083,787 19 2 1,048,566 19 0 15-31 15-07 Goods .. .. .. .. 4,117,745 19 7 3,949,586 17 10 58'16 56-78 Locomotive-running expenses .. .. 1,408,927 8 0 1,395,491 5 4 19-90 20-06 Miscellaneous operating revenue .. 262,400 15 6 255,627 2 5 3-70 3-67 Traffic expenses .. .. .. 1,599,667 8 11 1,530,651 15 1 22-59 22-01 Departmental Offices .. .. 161,783 0 0 145,409 1 10 2-28 2-09 General charges .. .. .. 84,721 4 5 58,997 16 2 1-20 0-85 \ Total operating expenses .. 5,533,136 3 11 5,393,309 19 5 78-15 77-53 Total operating revenue .. 7,080,567 13 7 6,956,519 19 0 100-00 100-00 Net operating revenue .. 1,547,431 9 8 1,563,209 19 7 21-85 22-47 Total .. .. .. £7,080,567 13 7 6,956,519 19 0 100-00 100-00 Total .. .. .. £7,080,567 13 7 6,956,519 19 0 100-00 100-00

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NEW ZEALAND GOVERNMENT RAILWAYS—continued. Income and Expenditure of the Whole Undertaking.

Net Revenue Account for the Year ended 31st March, 1925. £ s. d. £ s. d. To Interest for the year 1924-25 on cost pro- By Net earnings for the year after payment of portionately to the time during wnxoh working-expenses .. .. .. 1,567,108 15 0 lines taken over during the year were Deficit for the year .. .. .. 87,736 9 10 re venue earning— 3J per cent, on £44,059,807 lis. Bd. .. 1,652,242 15 8 Interest from 29th October, 1923, to 31st March, 1924, on £163,871 (Kaikohe-Okai-hau Section) omitted from capital cost last year .. .. .. .. 2,602 9 2 £1,654,845 4 10 £1,654,845 4 10

Year 1924-25. j Year 1923-24. Gross Revenue. Expenditure. Net .Revenue. j Gross Revenue. Expenditure. Net Revenue. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. Railway .. .. 7,080,567 13 7 5,533,136 3 11 1,547,431 9 8 6,95(1,519 19 0 5,393,309 19 5 1,563,209 19 7 Lake Wakatipu steamers 10,096 2 4 12,279 6 10 Dr. 2,183 4 6 8,872 5 0 10,455 13 0 Dr. 1,583 8 0 Advertising .. .. 30,731 1 3 29,647 2 5 1,083 18 10 24,073 12 1 16,639 15 3 7,433 16 10 Refreshment-rooms .. 104,796 14 0 99,996 14 0 4,800 0 0 101,921 15 5 96,921 15 5 5,000 0 0 7,226,191 11 2 5,675,059 7 2 1,551,132 4 0 7,091,387 11 6 5,517,327 3 1 1,574,060 8 5 Miscellaneous receipts (net) : — Rents from refreshment-rooms .. .. .. 5,766 0 0 .. .. 5,686 14 3 Rents from advertising service .. .. .. 1,000 0 0 .. .. 196 0 0 Advertising rights .. .. .. .. .. 7,674 0 0 Commission and miscellaneous .. .. .. 1,536 11 0 .. 601 16 9 Total net revenue carried to Net Revenue Account £1,567,108 15 0 .. £1,580,444 19 5

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NEW ZEALAND GOVERNMENT RAILWAYS— continued. Income and Expenditure in respect of Lake Wakatipu Steamers.

Income and Expenditure in respect of Advertising Service.

Per Cent, oi Revenue, j | I Per Cent, of Kevenue. EXPENDITURE. 1924-25. 1923-24. ; ~ REVENUE. 1924-25. 1923-24. 1924-25. 1923-24. 1 1924-25. 1923-24. £ 8. d. £ s. d. I £ s. d. £ a. d. Office salaries, &c. .. .. .. .. 3,599 10 1 3,237 9 0 11-71 13-45 Advertising, signs, printing, &c. .. 29,825 12 11 23,675 6 9 97'05 98'35 Studio wages, material, &c. .. .. .. 7,192 5 10 6,490 0 9 23-41 26-96 Poster stamps .. .. 35 1 0 48 15 0 0-12 0 20 Canvassers —Salaries, commission, and allowances , 3,739 13 11 2,996 19 1 12-17 12-45 Advertisements in time-tables .. 870 7 4 349 10 4 2*83 1'45 Linemen —Wages, allowances, and stores .. 2,466 0 7 2,055 2 10 8-02 8'54 Makipg and repairing advertisements .. .. 2,439 1 0 856 19 5 \ 7 - 94 3'56 Repairs to building and plant .. .. .. 205 7 5 .. 0'85 i 19,436 11 5 15,841 18 6 63*25 65'81 Railway revenue — j Rent of premises .. .. .. .. 1,000 0 0 196 0 0 Advertising rights .. .. .. 7,674 0 0 .. | Commission on collections .. .. .. 1,536 11 0 601 16 9 Net profit .. .. 1,083 18 10 7,433 16 10 . 11,294 9 10 i 8,231 13 7 36*75 34-19 30,731 1 3 | 24,073 12 1 100-00 100-00 30,731 1 3 24,073 12 1 100-00 lOO'OO

Per Cent, ol Revenue. | Per Cent, of Revenue. EXPENDITURE. 1924-25. 1923-24. — REVENUE. 1924-25. 1923-24. : * 1924-25. 1923-24. 1924-25. | 1923-24. £ s. d. £ s. d. £ s. d. £ s. d. Wages and services .. .. .. 8,420 13 8 7,361 0 10 83-40 82-97 Ordinary passengers .. .. 4,168 16 11 3,730 3 9 41-30 42-04 Stores and material .. .. .. 3,356 18 9 2,965 6 3 33-25 33-42 Season tickets .. .. .. 204 7 6 220 17 6 2-02 2-49 Miscellaneous .. .. .. 501 14 5 129 5 11 4-97 1-46 Parcels, luggage, and mails .. .. 1,327 2 5 1,174 8 6 13-14 13-24 Goods .. .. .. .. 4,270 16 3 3,626 5 0 42-30 40-87 Miscellaneous .. .. .. 124 19 3 120 10 3 1-24 1-36 10,096 2 4 8,872 5 0 100-00 100-00 Loss on operation .. .. .. 2,183 4 6 1,583 8 0 12,279 6 10 10,455 13 0 121-62 117-85 12,279 6 10 10,455 13 0

B—l [PT. IV, SUP.] .

NEW ZEALAND GOVERNMENT RAILWAYS— continued. Income and Expenditure in respect of Refreshment Service.

Refreshment Service.— Appropriation Account.

Per Cent, of Revenue. EXPENDITURE. 1924-25. 1923-24. REVENUE. 1924-25. 1923-24. 1924-25. 1923-24. | I £ s. d. £ s. d. £ s. d. £ s. d. Salaries and wages .. .. .. .. .. 31,154 2 3 28,027 5 9 29-74 29-09 Total receipts from refreshment-rooms 104,796 14 0 96,341 13 8 Provisions consumed .. .. .. .. 44,494 13 8 42,140 2 8 42-44 43-74 Renewals .. .. .. .. .. .. 2,653 12 5 2,613 7 2 2-53 2-71 Freights .. .. .. .. .. .. 2,598 8 0 2,736 13 2 2-48 2-84 Light, fuel, and water .. .. .. .. 2,060 19 11 1,857 5 5 1-97 1-93 Rents .. .. .. .. .. .. 5,766 0 0 5,586 14 3 5-50 5-80 Repairs .. .. .. .. .. .. 315 8 2 334 7 3 0-30 0-35 Miscellaneous .. .. .. .. .. 2,146 0 9 2,109 6 3 2-05 2-19 Total .. .. .. .. .. 91,189 5 2 85,405 111 87-01 88-65 Balance —Transferred to Appropriation Account 13,607 8 10 10,936 11 9 12-99 11-35 104,796 14 0 96,341 13 8 100-00 10000 104,796 14 0 96,341 13 8

1924-25. 1923-24. |j 1924-25. 1923-24. £ s. d. £ s. d. £ s. d. £ s. d. To Betterments expenditure .. .. .. .. 8,807 8 10 11,516 13 6 i By Unappropriated profits brought forward .. .. .. 5,580 1 9 Net profits transferred to Railway revenue .. .. 4,800 0 0 5,000 0 0 j Balance transferred from Income and Expenditure 13,607 8 10 10,936 11 9 Account £13,607 8 10 £16,516 13 6 £13,607 8 10 £16,516 13 6

B.—l [PT. IY, Sup.] .

NEW ZEALAND GOVERNMENT RAlLWAYS—continued. Railway Sawmill and Bush Accounts. —Trading, and Profit and Loss Accounts for Year ended 31st March, 1925. To Stock of timber,firewood, and logs on £ s. d. By Sales, issues, and £ s. d. £ s. d. hand at Ist April, 1924 .. .. 136,256 10 5 transfers— Purchases and trans- Timber .. 190,958 5 0 fers— £ s. d. Firewood .. 4,587 11 5 Timber.. .. 104,657 16 9 Logs .. .. 35,294 15 8 Firewood .. 3,683 6 0 230,840 12 1 Logs .. .. 43,649 7 5 Stocks on hand at 151,990 10 2 31st March, 1925— Royalty payments .. .. 16,555 4 5 Timber .. 156,758 7 7 Wages .. .. .. .. 51,364 610 Firewood .. 335 15 0 Salaries and miscellaneous payments, Logs .. .. 2,444 14 9 including interest on oapital .. 31,313 8 6 159,538 17 4 Balance to Reserve Aocount .. 3,516 18 5 Rents .. .. .. 617 9 4 £390,996 18 9 £390,996 18 9 H. Valentine, Acting Chief Accountant. I hereby certify that the balance-sheet and accompanying accounts have been duly examined and compared with the relative books and documents submitted for audit, and correctly set out the position as disclosed thereby. The Audit Office is of opinion that —(1) The rate of interest provided in the net Revenue Account, 3| per cent., is insufficient; (2) provision for Depreciation and Renewal Reserve Funds should be made ; (3) credit should be taken for fill services which are at present wholly or partially provided gratuitously for other Government Departments ; (4) the provisions of section 11, subsection 2, of Finance Act, 1922, regarding the writing-off of stores by Parliament have not been fully complied with. Certain Audit requirements as regards future balance-sheets have been communicated to the Department by memorandum. —G. F. C. Campbell, Controller and AuditorGeneral.

B.—l LPT. IY, SUP.] .

RAILWAYS SUPERANNUATION FUND. Statement of Accounts in accordance with Section 90, Government Railways Act, 1908. Revenue Account for Year ended 31st March, 1925. Expenditure. £ s. d. Income. £ s. d. To Retiring-allowances to members .. 181,603 11 0 By Members'contributions .. .. 139,332 13 9 Allowances to widows and children .. 14,487 10 4 Members'contributions on account of Refunds of total contributions .. 25,739 18 4 casual service .. . . .. 5,434 15 11 Refunds of contributions in excess of Fines .. .. .. .. 425 15 0 allowances drawn by deceased bene- Subsidies .. .. .. 105,000 0 0 ficiaries .. .. 737 12 11 Donations .. .. .. 10 0 0 Travelling-expenses of Board members 49 611 Interest .. .. .. .. 36,940 16 0 Public Trust Office charges .. 664 6 3 Audit fees .. .. .. 50 0 0 Transfers to other funds .. .. 50 14 6 Salaries .. .. .. .. 1,310 9 0 Postages .. .. .. 109 3 4 Printing, stationery .. .. 56 5 8 Balance carried down, being excess of income over expenditure for year .. 62,285 2 5 £287,144 0 8 £287,144 0 8 To Balance accumulated funds at 31st By Accumulated funds brought forward March, 1925 .. .. ..734,112 811 on Ist April, 1924 .. ..671,827 6 6 Balance brought down .. .. 62,285 2 5 £734,112 8 11 £734,112 8 11 Balance-sheet as at 31st March, 1925. Liabilities. £ s. d. Assets. £ s. d. Accumulated funds as per Revenue Investment Account . . . . 656,060 19 11 Account .. .. ..734,112811 Current Account .. .. .. 40,685 6 5 Retiring and other allowances due, not Contributions and fines in transit .. 12,168 10 0 paid— Contributions outstanding .. .. 2,239 2 6 Members .. .. .. 692 0 10 Contributions due by members in respect Widows and children .. .. 161 17 11 of casual service .. .. .. 8,651 1 0 Refunds of contributions .. .. 1,728 15 7 Allowances recoverable .. .. 52 0 0 Transfers to other funds .. .. 413 1 Treasury, cost-of-living bonus .. .. 1,447 12 10 Interest paid in advance .. .. 53 2 6 Interest outstanding .. .. .. 6,763 610 Commission due to Public Trustee .. 140 1 2 Interest accrued but not due .. .. 8,822 10 I Sundry debtor (insurance premium) .. 210 5 £736,893 0 0 £736,893 0 0 COST OF LIVING BONUS ACCOUNT. Disbursements and Recoveries during Year ended 31st March, 1925. £ s. d. £ s. d. To Balance due by Treasury, 31st March, By Cash received from Treasury .. 18,204 3 9 1924 .. .. .. 1,473 12 7 Balance due by Treasury, 31st March, Disbursements to annuitants 18,178 4 0 1925 .. .. .. .. 1,447 12 10 £19,651 16 7 £19,651 16 7 J. 6. COATES, Chairman of the Government Railways H. Valentine, Superannuation Fund Board. Acting Chief Accountant. I hereby certify that the statement of receipts and payments, Revenue Account, and balancesheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.—G. F. C. Campbell, Controller and Auditor-General.

•B.—l [PT. IV, SUP.] .

RESERVE FUND ACCOUNT. Income and Expenditure Account fob the Year ended 31st March, 1925. Expenditure. £ s. d. Income.. £ s. d. To Excess of income over expenditure .. 90,306 10 1 By Interest on investments .. .. .. 90,306 10 1 £90,306 10 1 £90,306 10 1 Balance-sheet as at 31st March, 1925. Liabilities. £ s. d. I Assets. Capital Account .. .. 2,000,000 0 0 Investment Account— Excess of income over expenditure to I Nominal Value. Cost Price. Slot,Marcli IQO4. £119 137 17 5 £ s. d. £ s. d. £ s. d. For year ended 230,000 0 0 Transvaal 3 % stock .. 212,005 9 0 31st March, 1925 90,306 10 1 59,000 0 0 Egyptian guaranteed 209 111 7 6 3 % bonds .. 56,362 15 0 153,010 6 1 India 3} % stock .. 147,547 8 6 357,766 5 7 India 3 % stock .. 261,500 3 4 65,340 8 4 India 2| % stock .. 31,746 1 0 1,283,157 17 11 British War Loan 5 % stock .. .. 1,219,000 0 0 1,928,161 16 10 2,148,274 17 11 Interest accrued on investments .. 28,201 1 10 Interest due and unpaid .. .. 885 0 0 29,086 1 10 Treasury Adjustment Account .. .. .. 252,196 8 10 £2,209,444 7 6 £2,209,444 7 6 The Treasury, Wellington, 22nd June, 1925. A. D. Park, Accountant to the Treasury. I "hereby certify that the Income and Expenditure Account and balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.—G. F. C. Campbell, Controller and Auditor-General.

B.—l [PT. IV, Sup.] .

SAMOAN LOAN SUSPENSE ACCOUNT. Income and Expenditure Account fob the Year ended 31st March, 1925. Expenditure. £ s. d. Income. £ s. d. To Interest on loans .. .. .. £4,737 310 By Interest on advances to Samoan Administration .. .. .. 4,737 3 10 Balance-sheet as at 31st March, 1925. Liabilities. £ s. d. A ssets. £ s. d. Loan capital .. .. .. .. 95,000 0 0 j Advances to Samoan Administration .. 95,000 0 0 Accrued interest on loans .. .. 2,355 97 j Accrued interest on advances .. .. 2,355 9 7 £97,355 9 7 j £97,355 9 7 The Treasury, Wellington, 12th June, 1925. A. D. Park, Accountant to the Treasury. I hereby certify that the Income and Expenditure Account and balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby. —G. E. C. Campbell, Controller and Auditor-General. SAMOAN LOAN SINKING FUND. Income and Expenditure Account to 31st March, 1925. Expenditure. £ s. d. Income. £ s. d. To Excess of income over expenditure .. 104 13 10 By Interest on investments .. .. 104 13 10 Balance-sheet as at 31st March, 1925. Liabilities. £ s. d. Assets. £ s. d. Contributions by Samoan Treasury .. 2,983 5 4 Investments .. .. .. .. 1,290 0 0 Excess of income over expenditure .. 104 13 10 Cash in Public Account .. .. 1,780 0 4 Interest accrued on investments .. 10 18 9 Interst due and unpaid .. .. 7 0 1 £3,087 19 2 £3,087 19 2 The Treasury, Wellington, Bth July, 1925. A. D. Park, Accountant to the Treasury. I hereby certify that the Income and Expenditure Account and balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby. —G. F. C. Campbell, Controller and Auditor-General.

B—B.8 —B. 1 [PT. IY, SUP.] .

B.—l [PT. IV, Sup.] .

STAMP DUTIES DEPARTMENT. Income and Expenditure Account foe the Year ended 31st March, 1925. Expenditure. £ s. d. Income. £ s. d. To Postage and telephones .. .. 1,410 15 9 By Adhesive stamps .. .. 82,637 15 3 Relieving and other allowances .. 33 6 1 Duty on instruments .. .. 621,080 19 5 Salaries and wages .. .. 18,850 12 2 Death duties .. .. .. 1,475,561 8 10 Printing and stationery.. .. 2,158 3 0 Gift duty .. .. .. 74,864 14 0 Stamp-printing .. .. 2,053 5 1 Rates .. .. .. 525 15 5 Fuel .. .. .. .. 90 5 11 Fines and penalties .. .. 5,055 11 2 Travelling-expenses .. .. 224 5 8 Impressed stamps .. .. 106,901 8 6 Freight and cartage .. .. 135 2 3 Licenses to companies .. .. 64,123 16 5 Office supplies .. .. .. 499 0 6 Bank-note duty .. .. 198,324 9 5 Valuation fees .. .. .. 52 8 5 Racing revenue .. .. 595,816 4 4 Rent.. .. .. .. 2,845 5 8 Amusements-tax .. .. 80,419 7 7 Totalizator inspection .. .. 738 1 0 Miscellaneous receipts .. .. 1,114 0 1 Law-costs .. .. .. 164 15 7 Death and Gift Duties Suspense Interest .. .. .. 477 13 10 Account (revenue for 1922-23).. 4,371 1 0 Depreciation .. .. .. 630 12 11 Balance .. .. .. 3,280,432 17 7 £3,310,796 11 5 £3,310,796 11 5 Balance-sheet as at 31st March, 1925. Liabilities. £ s. d. £ s. d. Assets. £ s. d £ s. d. Capital as at Ist April, 1924 .. 10,615 9 0 Expenses paid in advance .. 23 910 Sundry creditors — Cash in hands of receivers .. 330 10 6 Refunds .. .. 7,461 4 7 Cash in Deposit Account .. 76 11 5 Expenditure .. 6,245 6 7 Office furniture .. 2,795 1 7 13,706 11 2 Additions during year 866 16 5 Sundry depositors .. .. .. 76 II 5 3,661 18 0 Writings-off Suspense Account .. 324 10 0 Mechanical appliances .. 774 14 0 Depreciation reserve .. .. 2,952 6 0 Additions during year 181 6 6 Balance (excess of income over expendi- 956 0 6 ture for year ended 31st March, 1925) 3,280,432 17 7 Plant and machinery .. 6,870 13 5 Additions during year 61 3 6 6,931.16 11 Library .. .. .. .. 175 0 0 Stock of paper and stamps on hand .. 1,838 II 2 Sundry debtors .. .. .. 335,339 11 10 Treasury Adjustment Account .. 2,958,774 15 0 £3,308,108 5 2 £3,308,108 5 2 J. Murray, 23rd September, 1925. Deputy Commissioner of Stamp Duties. I hereby. certify that the Income and Expenditure Account and balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, except that the accounts include charges for rent and interest for which the Department possesses no parliamentary appropriation.—J. H. Fowler, Deputy Controller and Auditor-General.

B.—l [PT. IY, SUP.] .

STATE ADVANCES OFFICE. ADVANCES TO SETTLERS BRANCH. Statement of Liabilities and Assets as at 31st March, 1925. Liabilities. £ s. d. Assets. £ s. d. Sundry loans .. .. .. .. 13,268,959 11 4 Investment Account—Principal owing by Temporary advances from— £ s. d. mortgagors .. .. .. .. 12,016,001 14 6 Public Debt Sinking Fund Temporary investments .. .. .. 197,500 0 0 Branch .. .. 349,000 0 0 Temporary advances to— £ s. d. Advances Office Sinking Fund Workers Branch .. 655,000 0 0 Account .. .. 249,500 0 0 Local Authorities Branch 361,500 0 0 Miscellaneous Business Branch 39,165 0 0 1,010,500 0 0 637,665 0 0 Sinking Fund investments Amount held for investment on behalf of the held by — Housing Insurance Fund .. .. 2,090 0 0 Advances Office Sinking Advances Suspense Account .. .. 36,690 0 0 Fund Account .. 1,555,086 17 4 Fire Loss Suspense Account .. .. 7,927 14 3 Public Debt Sinking Fund Suspense Account .. .. .. 8,240 11 2 Branch .. .. 22,914 2 1 Income-tax Suspense Account .. .. 7,173 8 9 1,578,000 19 5* Sundry creditors .. .. .. .. 2,445 210 Interest on mortgages — Interest on loans accrued but not due .. 121,281 8 3 Overdue .. .. 61,176 1 5 Reserve for bad debts .. .. .. 10,369 411 Accrued .. .. 136,809 12 4 Sinking Fund .. .. .. .. 1,139,335 17 6 197,985 13 9 Reserve Fund .. .. .. .. 25,000 0 0 Interest on temporary investments accrued 6,719 3 5 Office furniture and equipment .. .. 5,967 15 2 Sundry debtors .. .. .. .. 9,761 2 6 Loan Charges Account .. .. .. 108,154 19 10 Realization Account .. .. .. 495 11 9 Cash in hand and in bank at 31st March, 1925 130,090 18 8 £15,267,177 19 0 £15,267,177 19 0 * This amount includes £438,665 Is. lid. capital paid into the sinking fund under the provisions of the State Advances Act. Statement of Profit and Loss Account for the Year ended 31st March, 1925. Dr. £ s. d. Cr. £ s. d. To Management Expenses Account .. .. 27,151 8 3 By Interest Account—Gross profits . .. 66,604 0 4 Loss on realization of securities, and doubtful securities written down .. .. 11,073 7 1 Office furniture and equipment written down.. 314 1 9 Balance —Net profits for the year .. .. 28,155 3 3 £66,694 0 4 £66,694 0 4 £ s. d. £ s. d. To Loan-flotation charges written down .. 5,714 6 7 By Net profits for the year .. .. .. 28,155 3 3 Income-tax .. .. .. .. 4,757 6 J1 Balance of net profits invested in— £ s. d. Public Debt Sinking Fund Branch.. .. .. 3,798 18 2 Advances Office Sinking Fund Account .. .. 13,884 11 7 17,683 9 9 £28,155 3 3 £28,155 3 3 Statement of Interest Account for the Year ended 31st March, 1925. Dr. £ s. d. £ s. d. I Cr. £ s. d. £ s. d. To Interest on loans .. .. 462,962 13 1 By Interest on mortgages .. 460,477 5 9 Less accrued at 31st March, Less overdue and accrued at 1924 .. .. .. 104,243 17 4 31st March, 1924 .. 151,929 7 7 358,718 15 9 308,547 18 2 Interest on loans accrued but not due .. 121,281 8 3 Interest on outstanding payments .. .. 23 15 4 Interest on amounts temporarily transferred Interest on bank balances .. .. .. 888 7 0 from other branches .. .. .. 20,315 14 10 Interest on temporary advances to other Balance —Gross profits transferred to Profit branches .. .. .. 52,845 1 6 and Loss Account .. .. 66,694 0 4 Interest on temporary investments accrued at 31st March, 1925 .. .. .. 6,719 3 5 Interest on mortgages— Overdue at 31st March, 1925 61,176 1 5 Accrued but not r]ue at 31st March, 1925 . . .. 136,809 12 4 — 197,985 13 9 £567,009 19 2 £567,009 19 2

B.—l [PT. IV, Sup.] .

STATE ADVANCES OFFlCE—continued. Statement of Management Expenses Account for the Year ended 31st March, 1925. Dr. £ s. d. Or. £ s. d. To Advertising, newspapers, &c. .. .. 20 0 4 By Consent fees .. .. .. .. 38 18 0 Audit Office services .... .. .. 300 0 0 Production fees .. .. .. .. 701 7 10 Cleaning, lighting, heating, and messenger Release fees .. .. .. .. 342 12 0 services .. .. .. .. 359 2 4 Sundry fees .. .. .. .. 1 8 10 Fees paid for special services in respect of Balance transferred to Profit and Loss Account 27,151 8 3 securities .. .. .. .. 356 9 2 Management charges on .New Zealand stock and bonds .. .. .. .. 1,539 9 0 Meal allowances and overtime .. .. 263 12 9 Office maintenance .. .. .. 701 3 0 . Postages and telegrams .. .. .. 534 6 5 Post Office services .. .. .. 1,205 19 2 Printing and stationery .. .. .. 297 4 5 Public Service Superannuation Fund contribution .. .. .. .. 481 8 3 Rent .. .. .. .. .. 2,784 3 9 Salaries.. .. .. .. .. 18,224 14 3 Solicitors' costs and Court costs .. .. 18 6 0 Telephones .. .. .. .. 90 11 7 Travelling-expenses .. .. .. 325 15 5 Typewriters and adding-machines—Repairs .. 83 9 1 Valuation Department—Agency work .. 650 0 0 £28,235 14 11 £28,235 14 11 Wm. Waddel, Superintendent. State Advances Office, Wellington, 11th June, 1925. 11. Kobertson, Accountant. The Audit Office, having examined the balance-sheet and accompanying accounts and compared them with the relative books and documents and securities, hereby certifies them to be in accordance therewith.—G. P. C. Campbell, Controller and Auditor-General. ADVANCES TO WORKERS BRANCH. Statement of Liabilities and Assets as at 31st March, 1925. Liabilities. £ s. d. Assets. £ s. d. Sundry loans .. .. .. .. 5,391,691 17 1 Investment Account —Principal owing by mortTemporary advances from Settlers Branch .. 655,000 0 0 gagors .. .. .. ..5,613,475 2 4 Interest on loaiis accrued but not due .. 53,165 16 2 Sinking Fund investments held Advances Suspense Account .. .. 67,475 0 0 by— Fire Loss Suspense Account .. .. 1,525 10 0 Advances Office Sinking Fund £ s. d. Suspense Account .. .. .. 87 17 4 Account .. .. 67,116 16 4 Sundry creditors .. .. .. .. 258 2 8 Public Debt Sinking Fund Sinking Fund .. .. .. .. 56,537 12 7 Branch .. .. 10,512 4 2 77,629 0 6* Temporary investments ~ .. .. 147,500 0 0 Interest on mortgages— Overdue .. .. 19,219 7 3 Accrued .. .. 60,617 3 9 79,836 11 0 Interest on temporary investments accrued .. 8,085 13 3 Sundry debtors .. .. .. .. 462 13 1 Loan Charges Account .. .. .. 181,596 17 3 Profit and Loss Account .. .. .. 6,507 0 9 Cash in hand and in bank at 31st March, 1925 110,648 17 8 £6,225,741 15 10 £6,225,741 15 10 * This amount includes the sum of £21,091 7s. lid. capital paid into the sinking fund under the provisions of the State Advances Act. Statement of Profit and Loss Account for the Year ended 31st March, 1925. Dr. £ s. d. Or. £ s. d. To Management Expenses Account .. .. 4,769 1 3 By Interest Account—Gross profits .. .. 193 12 0 Loss on realization of securities .. .. 90 19 8 Balance —Loss for the year .. .. .. 4,666 8 11 £4,860 0 11 £4,860 0 11 £ s. d. By Income-tax provided for, 31st March, 1924 —Not £ s. d. To Loan-flotation charges written down .. .. 9,564 10 1 now required .. .. .. .. 191 8 4 Loss for the year .. .. .. .. 4,666 8 11 Transfer from Reserve Fund .. .. 7,532 9 11 Balance .. .. .. .. .. 6,507 0 9 £14,230 19 0 £14,230 19 0 Statement of Interest Account for the Year ended 31st March, 1925. Dr. £ s. d. £ s. d. Or. £ s. d. £ s. d. To Interest on loans .. .. 176,376 15 11 By Interest on mortgages .. 211,056 7 1 Less accrued at 31st March, Less interest overdue and 1924 .. .. 29,338 0 7 accrued at 31st March, 1924 62,205 18 6 — — 147,038 15 4 148,850 8 7 Interest on amounts temporarily transferred Interest on bank balances .. .. .. 131 0 3 from Settlers Branch .. .. .. 36,505 9 7 Interest on temporary investments accrued at Interest on loans accrued but not due .. 53,165 16 2 31st March, 1925 .. .. .. 8,085 13 3 Balance — Gross profits transferred to Profit Interest on mortgages-— and Loss Account .. .. .-. 193 12 0 Overdue at 31st March, 1925 19,219 7 3 Accrued but not due at 31st March, 1925 .. .. 60,617 3 9 79,836 11 0 £236,903 13 1 £236,903 13 1

B.—l [PT. IY, SUP.] .

STATE ADVANCES OFFICI^ —continued. ADVANCES TO WORKERS BRANCH—continued. Statement of Management Expenses Account foe the Year ended 31st March, 1925. Dr. £ 3. d. Or. £ s. d. To Audit Office services .. .. .. 150 0 0 By Consent fees .. .. .. .. 013 0 Cleaning, lighting, heating, and messenger Cost of preparation of mortgages .. .. 133 12 0 services .. .. .. .. 135 0 0 Production fees .. .. .. . . 303 5 6 Contingencies .. .. .. .. 15 15 3 Release fees .. .. .. .. 105 10 6 Management charges on New Zealand stock and Balance transferred to Profit and Loss Account 4,769 1 3 bonds .. .. .. .. .. 97 8 2 Post Office services .. .. .. 500 0 0 Postages and telegrams .. .. .. 197 18 10 Printing and stationery .. .. .. 300 0 0 Public Service Superannuation Fund contribution .. .. .. .. .. 64 0 0 Rent ~ .. .. .. .. 600 0 0 Salaries .. .. .. .. .. 2,902 0 0 Valuation Department—Agency work .. 350 0 0 £5,312 2 3 £5,312 2 3 Wm. Waddel, Superintendent. State Advances Office, Wellington, 11th June, 1925. R. Robertson, Accountant. The Audit Office, having examined the balance-sheet and accompanying accounts and compared them with the relative books, documents, and securities, hereby certifies them to be in accordance therewith. —G. F. C. Campbell, Controller and Auditor-General. ADVANCES TO LOCAL AUTHORITIES BRANCH. Statement of Liabilities and Assets as at 31st March, 1925. Liabilities. £ s. d. Assets. £ s. d. Sundry loans .. .. .. .. 2,775,529 9 5: Investment Account —Principal owing by local Loan-moneys—Unexpended balances under see- bodies .. .. .. .. .. 2,778,759 15 5 tion 72, Local Bodies' Loans Act, 1913 .. 3,987 12 10 : Sinking Fund investments held Temporary advances from Settlers Branch .. 361,500 0 0 by— Suspense Account .. .. .. .. 120 18 3 ; Advances Office Sinking £ s. d. Interest on loans acorued but not due .. 36,385 16 7 Fund Account .. 308,979 18 8 Sinking Fund .. .. .. .. 99,531 9 1 Public Debt Sinking Fund Branch .. .. 18,761 8 0 327,741 6 8* Interest on debentures—Overdue .. .. 5,554 9 1 Accrued .. .. 23,829 11 5 29,384 0 6 Loan Charges Account .. .. .. 29,669 14 5 Profit and Loss Account .. .. .. 101,834 7 10 Cash in hand and in bank at 31st March, 1925 9,666 1 4 £3,277,055 6 2 £3,277,055 6 2 * This amount includes the sum of £228,209 17s. 7d. capital paid into the sinking fund under the provisions of the State Advances Act. Statement of Profit and Loss Account for the Year ended 31st March, 1925. Dr. £ s. d. Or. £ s. dTo Balance —Interest Account .. .. 8,129 10 5 By Balance —Loss for the year .. .. 9,121 1 0 Management Expenses Account .. .. 991 10 7 £9,121 1 0 £9,121 1 0 £ s. d. £ s. d. To Balance as at 31st March, 1924 .. .. 91,912 610 By Balance .. .. .. .. 101,834 710 Loan-flotation charges written down .. 801 0 0 Loss for the year .. .. .. 9,121 1 0 £101,834 7 10 £101,834 7 10 Statement of Interest Account for the Year ended 31st March, 1925. Dr. £ s. d. £ s. d. (Jr. £ s. d. £ s. d. To Interest on loans .. .. 103,195 12 8 By Interest on debentures .. 105,409 2 2 Less accrued at 31st March, Less overdue and accrued 1924 .. .. 36,385 16 7 at 31st March, 1924 .. 26,27(5 19 7 66,809 16 1 79,132 2 7 Interest on amounts temporarily transferred Interest on bank balances .. .. .. 23 10 3 from Settlers Branch .. .. .. 13,473 11 1 Interest on debentures— Interest on loans accrued but not due .. 36,385 16 7 Overdue at 31st March, 1925 5,554 9 1 Accrued but not due at 31st March, 1925.. .. 23,829 11 5 29,384 0 6 Balance transferred to Profit and Loss Account 8,129 10 5 £116,669 3 9 £116,669 3 9

£.—1 [PT. IV, Sup.] .

STATE ADVANCES OFFlCE—continued. ADVANCES TO LOCAL AUTHORITIES BRANCH—continued. Statement of Management Expenses Account foe the Yeae ended 31st Maech, 1925. Dr. £ s. d. Or. £ s. d. To Audit Office services .. .. . . 50 0 0 By Balance transferred to Profit and Loss Account .. 991 10 7 Cleaning, lighting, heating, and messenger services 30 0 0 Management charges, New Zealand stock and bonds 12 411 Post Office services .. .. .. .. 25 0 0 Postages and telegrams .. .. .. 24 5 8 Printing and stationery .. .. .. 125 0 0 Public Service Superannuation Fund contribution 13 0 0 Rent .. .. .. .. .. 100 0 0 Salaries .. .. .. .. .. 612 0 0 £991 10 7 £991 10 7 Wm. Waddel, Superintendent. State Advances Office, Wellington, 11th June, 1925. R. Robertson, Accountant. The Audit Office, having examined the balance-sheet and accompanying accounts and compared them with the relative books, documents, and securities, hereby certifies them to be in accordance therewi th. —G. F. C. Campbell, Controller and Auditor-General. PUBLIC DEBT SINKING FUNDS BRANCH. Statement of Liabilities and Assets as at 31st March, 1925. Liabilities. Assets. Sinking Fund created under the provisions of the £ s. d. Investment Account: Principal £ s. d. £ s. d. Public Debt Extinction Act, 1910— owing on loans to— Total fund as at 31st March, £ s. d. Settlers .. .. 666,191 10 2 1924 .. .. 2,961,288 14 8 Workers .. .. 67,691 5 2 Principal received from Local bodies .. .. 2,170,756 13 8 Treasury during the year 216,315 0 0 — 2,904,639 9 0 Interest earned for the year Temporary advances to Settlers Branch .. 349,000 0 0 ended 31st March, 1925 133,539 18 11 Sundrj* debtors .. .. .. .. 711 5 3,311,143 13 7 Interest overdue on loans to — £ s. d. Advances Suspense Account .. .. 4,145 0 0 Settlers .. .. 2,283 2 4 Fire Loss Suspense Account .. .. 1,623 0 0 Workers .. .. 186 6 6 Suspense Account .. .. .. .. 1,424 2 3 Local bodies .. .. 3,939 15 9 6,409 4 7 Interest accrued on loans to— Settlers .. .. 7,211 0 11 Workers .. .. 739 17 1 Local bodies .. .. 21,879 18 5 29,830 16 5 Cash in hand and in bank at 31st March, 1925 28,448 14 5 £3,318,335 15 10 £3,318,335 15 10 Statement of Interest Account foe the Yeae ended 31st March, 1925. Dr. £ s. d. Or. £ s. d. £ s. d. To Interest on investments —Transferred to the By Interest on loans to— Sinking Fund Account .. .. .. 133,539 18 11 Settlers .. .. 23,285 7 9 Workers .. .. 3,010 5 7 Local bodies .. .. 93,394 1 6 119,689 14 10 Less interest overdue and accrued at 31st March, 1924 .. 32,451 17 1 87,237 17 9 Interest on bank balances .. .. .. 9 15 0 Interest on temporary advances to Settlers Branch .. .. .. .. 10,052 5 2 Interest overdue at 31st March, 1925, on loans to— Settlers .. .. 2,283 2 4 Workers .. ~ 186 6 6 Local bodies .. .. 3,939 15 9 6,409 4 7 Interest accrued at 31st March, 1925, on loans to — Settlers .. .. 7,211 0 11 Workers .. .. 739 17 1 Local bodies .. .. 21,879 18 5 29,830 16 5 £133,539 18 11 £133,539 18 11 Wm. Waddel, Superintendent. State Advances Office, Wellington, 11th June, 1925. R. Robertson, Accountant. The Audit Office, having examined the balance-sheet and accompanying accounts and compared them, with the relative books, documents, and securities, hereby certifies them to be in accordance therewith.- —G. F. C. Campbell, Controller and Auditor-General.

B.—l [PT. IY, SUP.] .

STATE ADVANCES OFFlCE—continued. ADVANCES OFFICE SINKING FUND ACCOUNT. Statement of Liabilities and Assets as at 31st March, 1925. Liabilities. £ s. d. Assets. £ s. d Principal received as at 31st Investment Account: PrinciMarch, 1924, with accu- pal owing on loans to — £ s. d. mulated interest from Settlers .. .. 1,139,212 14 4 the — £ s. d. Workers .. .. 76,986 5 7 Advances to Settlers Branch 1,521,489 14 8 Local bodies .. .. 419,067 14 10 Advances to Workers Branch 251,224 13 1 — ; 1,635,266 14 9 Advances to Local Authori- Temporary advances to Settlers Branch .. 249,500 0 0 ties Branch .. .. 295,665 11 0 Sundry debtors .. .. .. ~ 220 8 2 Interest overdue on loans to— 2,068,379 18 9 Settlers .. .. 5,616 4 2 Interest earned for the year Workers .. .. 296 3 11 ended 31st March, 1925 — Local bodies .. .. 2,245 13 6 Advances to Settlers Branch 66,412 11 1 8,158 1 7 Advances to Workers Branch 2,892 3 3 Interest accrued on loans to — Advances to Local Authori- Settlers .. .. 12,664 11 11 ties Branch .. .. 13,314 7 8 Workers .. .. 833 14 2 Local bodies .. .. 3,491 2 11 2,150,999 0 9 16,989 9 0 Balance —INet profits trans- Cash in hand and in bank at 31st. March, 1925.. 24,461 19 11 ferred from Advances to Settlers Branch .. .. 13,884 11 7 2,164,883 12 4 Less redemption of loans —Advances to Settlers Branch, £46,700; Advances to Workers Branch, £187,000 233.700 0 0 Total fund at 31st March, 1925 .. .. 1,931,183 12 4 Advances Suspense Account .. .. 2,390 0 0 Fire Loss Suspense Account .. .. 625 0 0 Suspense Account .. .. .. .. 398 1 1 £1,934,596 13 5 £1,934,596 13 5 Statement or Interest Account for the Year ended 31st March, 1925. Dr. £ 3. d. Or. £ s. d. £ s. dTo Interest on investments —Transferred to the By Interest on loans to — Sinking Fund Account .. .. .. 82,619 2 0 Settlers .. .. 52,369 9 0 Workers .. .. 3,582 2 6 Local bodies .. .. 16,509 10 8 72,461 2 2 Less overdue and accrued at 31st March, 1924 .. 23,458 14 10 49,002 7 4 Interest on bank balances .. .. .. 8.00 Interest on outstanding payments .. .. 3 4 10 Interest on temporary advances to Settlers Branch .. .. .. .. 8,457 19 3 Interest overdue at 31st March, 1925, on loans to— Settlers .. .. 5,616 4 2 Workers . . . . 296 3 11 Local bodies .. .. 2,245 13 6 8,158 1 7 Interest accrued at 31st March, 1925, on loans to — Settlers .. .. 12,664 11 11 Workers .. . . 833 1 4 2 Local bodies .. 3,491 2 ! I 16,989 9 0 £82,619 2 0 £82,619 2 0 Wm. Waddel, Superintendent. State Advances Office, Wellington, 11th June, 1925. R. Robertson, Accountant. 9 The Audit Office, having examined the balance-sheet and accompanying accounts and compared them with the relative books, documents, and securities, hereby certifies t hem to be in accordance therewith. —G. F. C. Campbell, Controller and Auditor-General.

B.—l [PT. IY, SUP.] .

STATE ADVANCES OFFIC E—continued. MISCELLANEOUS BUSINESS BRANCH. HOUSING ACCOUNT. Statement of Liabilities and Assets as at 31st March, 1925. Liabilitif-s. | Assets. Sundry loans — £ s. d. £ s. d. ! Investment Account: Principal Debentures .. .. 412,398 2 7 | owing on— £ s. d. £ s. d Expenditure from Public Works Dwellings purchased .. 602,183 13 9 Fund .. .. .. 319,918 1 7 Sections purchased .. 6,316 18 5 Advances .. .. 573 12 3 732,316 4 2 Loans on mortgage .. 1,066 15 5 Less loan-moneys written off 16,748 2 7 610,120 19 10 715,568 1 7 Completed dwellings .. .. .. 8,544 7 3 Sundry creditors .. . .. .. 35,346 8 1 Dwellings let .. .. .. .. 29,621 18 9 Suspense Account .. .. .. .. 4,944 19 0 Freehold land .. .. .. .. 54,315 1 8 Interest on loans accrued but not due .. .. 4,201 0 5 Properties acquired .. .. .. 2,94-4 6 0 Insurance Fund .. .. .. .. 2,090 0 0 Sinking Fund investments held by Public Debt Sinking Fund .. .. .. .. 230 15 0 Sinking Fund Branch .. .. .. 3,585 14 10* Reserve for losses on realization and bad debts .. 9,321 410 Insurance Fund Investment held by Settlers Branch .. .. .. .. 2,090 0 0 Sundry debtors .. .. .. .. 193 9 5 Interest on dwellings and land — Overdue.. .. .. 5,103 7 7 Accrued.. .. .. 117 12 10 5,221 0 5 Rent—Overdue .. .. .. .. 823 8 2 Insurance premiums— Overdue.. .. .. 426 13 9 Paid in advance .. .. 621 0 6 —- 1,047 14 3 Realization Account .. .. .. 421 1 1 Profit and Loss Account .. .. .. 41,302 13 10 Cash in hand and in bank at 31st March, 1925 .. 11,470 13 5 £771,702 8 11 £771,702 8 11 * This amount includes the sum of £3,354 19s. 10d., capital paid into the sinking fund in accordance with the Public Debt Extinction Act, 1910. Statement op Profit and Loss Account for the Year ended 31st March, 1925. Dr. £ s. d. Cr. £ s. d. To Balance —Interest Account .. .. .. 120 4 9 By Sale of land and dwellings .. .. .. 548 5 7 Management Expenses Account .. .. 3,337 3 4 Balance —Loss for the year .. .. . . 5,232 2 4 Dwellings maintenance .. .. .. 1,185 3 3 Expenses of realization of assets .. .. 1,137 16 7 £5,780 7 11 £5,780 7 11 £ s. d. To Balance as at 31st March, 1924 .. .. 52,818 14 1 By Principal moneys written off—Freed from lia- £s. d. Loss for the year .. .. .. .. 5,232 2 4 bility .. .. .. .. .. 16,748 2 7 Balance .. .. .. .. 41,302 13 10 £58,050 16 5 £58,050 16 5 Statement of Interest Account for the Year ended 31st March, 1925. Dr. £ s. d. £ s. d. Cr. £ s. d. £ s. d. To Interest on loans .. .. 30,830 6 2 By Interest on dwellings and land .. 32,390 9 9 Less accrued at 31st March, Less overdue and accrued at 1924 .. .. .. 4,525 2 0 31st March, 1924 .. 4,372 19 6 26,305 4 2 28,017 10 3 Interest on amounts temporarily transferred Interest on bank balances .. .. 13 10 0 from Settlers Branch .. .. .. 2,866 010 Interest on dwellings and land— Interest on loans accrued but not due .. 4,201 0 5 Overdue at 31st March, 1925 5,103 7 7 Accrued but not due at 31st March, 1925 .. .. 117 12 10 5,221 0 5 Balance transferred to Profit and Loss Account 120 4 9 £33,372 5 5 £33,372 5 5

B.—l [PT. IY, Sup.]

STATE ADVANC ES OFFICE —continued. HOUSING ACCOUNT—continued. Statement of Management Expenses Account foe the Year ended 31st March, 1925. Dr. £ s. d. Or. £s. d. To Advertising .. .. .. 16 16 6 By Administration expenses .. .. .. 87 13 10 Audit Office services .. .. .. 225 0 0 " Transfer fees .. .. .. .. 47 10 0 Cleaning, lighting, heating, and messenger Balance transferred to Profit and Loss Account 3,337 3 4 services .. .. .. .. 30 0 0 Contingencies .. .. .. .. 10 19 2 Fees paid for special services in respect of securities .. .. .. .. 114 8 0 Labour Department services . . .. 500 0 0 Postages and telegrams .. .. .. 25 0 0 Post Office services .. . . .. 225 0 0 Printing and stationery .. .. .. 250 0 0 Public Service Superannuation Fund contribution .. .. .. . . .. 39 0 0 Rates .. .. .. .. .. 973 Rent .. .. .. . .. LOO 0 0 Salaries .. .. .. .. .. 1,714 0 0 Solicitors' costs .. .. .. .. 30 4 0 Survey fees .. .. . . .. 57 12 3 Valuation Department—Agency work .. 125 0 0 £3,472 7 2 i £3,472 7 2 Wm. Waddel, Superintendent. State Advances Office, Wellington, 11th June, 1925. E. Robertson, Accountant. The Audit Office, having examined the balance-sheet and accompanying accounts and compared them with the relative books, documents, and securities, hereby certifies them to be in accordance therewith.—G. F. C. Campbell, Controller and Auditor-General. LOANS TO EMPLOYERS FOR WORKERS' DWELLINGS ACCOUNT. Statement of Liabilities and Assets as at 31st March, 1925. Liabilities. £ s. d. . Assets. £s. d. Sundry loans .. .. .. .. 3,975 0 0 Investment Account—Principal owing by mortloterest on loans accrued but not due .. .. 43 12 3 gagors .. .. .. .. .. 3,287 4 8 Sinking Fund .. .. .. . 2 6 7 Temporary advances to Settlers Branch .. 510 0 0 Sinking Fund investments held by Public Debt Sinking Fund Branch .. .. .. 35 14 6* ! Interest on mortgages— £s. d. Overdue .. .. .. 153 13 0 Accrued .. .. .. 40 3 157 13 3 Profit and Loss Account .. .. .. 55 0 Cash in hand and in bank at 31st March, 1925 .. 25 1 5 £4,020 18 10 £4,020 18 10 * This amount includes the sum of £33 7s. lid., capital paid into the sinking fund in accordance with the Public Debt Extinction Act, 1910 Statement of Profit and Loss Account for the Year ended 31st March, 1925. Dr. £ s. d. Cr. £g. d. To Balance —Net profits for the year .. ..2 7 0 By Interest Account—Gross profits .. ..270 £2 7 0 £2 7 0 £ s. d. £s. d. To Balance as at 31st March, 1924 .. .. .. 712 0 By Net profits for the year .. .. ..270 Balance .. .. .. .. . 550 £7 12 0 £7 12 0 Statement of Interest Account for the Year ended 31st March, 1925. Dr. £ s. d. £ s. d. Cr. £s.d. £ s. il. To Interest on loans .. .. 178 17 6 By Interest on mortgages .. .. 126 15 7 Less accrued at 31st March, 1924 43 12 3 Less interest overdue and accrued at 135 5 3 31st March, 1924 .. .. 117 16 0 Interest on loans accrued but not due .. .. 43 12 3 819 7 Balance —Gross profits transferred to Profit and Interest on bank balances .. .. .. 03 0 Loss Account .. .. .. .. 270 Interest on temporary advances to Settlers Branch 14 8 8 Interest on mortgages — Overdue at 31st March, 1925 .. 153 13 0 Accrued but not due at 31st March, 1925 .. .. .. 4 0 3 157 13 3 £181 4 6 £181 4 6 „ | Wm. Waddel, Superintendent. State Advances Office, Wellington, 11th June, 1925. R. Robertson, Accountant. The Audit Office, having examined the balance-sheet and accompanying accounts and compared them with the relative books, documents, and securities, hereby certifies them to be in accordance therewith. —G. F. C. Campbell, Controller and Auditor-General.

9-B1 [PT. TY, Sup.] .

B.—l [PT. IY, SUP.J .

STATE ADVANCES OFFlCE—continued. FRUIT-PRESERVING INDUSTRY ADVANCES ACCOUNT.

Statement of Liabilities and Assets as at 31st March, 1925. Liabilities. £ s. d. £ s. d. Assets. £ s. d. Sundry loans .. .. .. 69,604 6 2 Investment Account—Principal owing by mortLess loan-moneys written off .. 4,494 6 2 gagors .. .. .. .. .. 49,931 10 3 65,110 0 0 Properties acquired .. .. .. .. 5,212 8 6 Suspense Account .. .. .. .. 402 13 0 Temporary advances to Settlers Branch .. 8,400 0 0 Interest on loans accrued but not due .. .. 1,387 211 Sinking Fund investments held by Public Debt Rent accrued but not due .. .. .. 24 11 4 Sinking Fund Branch .. .. .. 658 6 6* Sinking Fund .. .. .. •. 45 9 8 Interest on mortgages — £ s. d. Reserve for losses on realization and bad debts .. 4,845 13 10 Overdue .. .. .. 1,782 19 5 Accrued .. .. .. 428 18 9 — 2,211 18 2 Sundry debtors .. .. .. .. 110 15 2 Profit and Loss Account .. .. .. 5,128 5 7 Cash in hand and in bank at 31st March, 1925 .. 162 6 7 £71,815 10 9 £71,815 10 9 * This amount includes the sum of £012 16s lOd. capital paid into the sinking fund in accordance with the Public Debt Extinction Act, 1910. Statement of Profit and Loss Account for the Year ended 31st March, 1925. Dr. £ s. d. Cr. £ s. d. To Management Expenses Account .. .. 86 16 9 By Interest Account—Gross profits .. .. 67 0 8 Expenses of realization of assets .. .. 22 11 11 Balance—Loss for the year .. .. .. 42 8 0 £109 8 8 £109 8 8 £ s. d. £ s. d. To Balance as at 31st March, 1924 .. .. 10,004 14 7 By Interest paid on loan-moneys prior to 31st Loss for the year . . . . . . .. 42 8 0 March, 1923 —Refunded .. .. .. 424 10 10 Principal moneys written off—Freed from liability .. .. .. .. .. 4,494 6 2 Balance .. .. .. ~ .. 5,128 5 7 £10,047 2 7 £10,047 2 7 Statement of Interest Account for the Year ended 31st March, 1925. Dr. £ s. d. £ s. d. Cr. £ s. d. £ s. d. To Interest on loans .. .. 2,982 3 1 By Interest on mortgages.. .. 2,243 11 10 Less accrued at 31st March, Less overdue and accrued at 1924 .. .. .. 1,403 10 9 31st March, 1924.. .. 1,746 17 3 1,578 12 4 496 14 7 Interest on loans accrued but not due .. 1,387 2 11 Interest on bank balances .. .. .. 4 9 9 Balance —Gross profits transferred to Profit and Interest on temporary advances to Settlers Loss Account .. .. .. 67 0 8 Branch .. .. .. .. .. 319 13 5 Interest on mortgagesOverdue at 31st March, 1925.. 1,782 19 5 Accrued but not due at 31st March, 1925 .. .. 428 18 9 2,211 18 2 £3,032 15 11 £3,032 15 11 Statement of Management Expenses Account for the Year ended 31st March, 1925. Dr. £ s. d. I Cr. £ s. d. To Administration expenses .. .. .. 86 16 9| By Balance transferred to Profit and Loss Account .. 86 16 9 £86 16 9 J £86 16 9 Wm Waddel, Superintendent. State Advances Office, Wellington, 11th June, 1925. R. Robertson, Accountant. The Audit Office, having examined the balance-sheet and accompanying accounts and compared them with the relative books, documents, and securities, hereby certifies them to be in accordance therewith. —G-, F. 0. Campbell, Controller and Auditor-General,

B.—l [PT. IV, Sup.] .

STATE ADVANCES OFFlCE—continued. COLD-STORAGE ADVANCES ACCOUNT. Statement of Liabilities and Assets as at 31st March, 1925. Liabilities. £ s. d. £ s. d. Assets. £ s. d. Sundry loans .. .. .. 82,750 0 0 Investment Account —Principal owing by mortLess loan-moneys written off .. 7,500 0 0 gagors .. .. .. .. .. 43,742 12 5 —; — 75,250 0 0 Temporary advances to Settlers Branch .. 28,090 0 0 Interest on loans accrued but not due .. .. 269 5 7 Sinking Fund investments held by Public Debt Sinking Fund .. .. .. .. 75 15 8 Sinking Fund Branch .. .. .. 1,001 18 4* Interest on mortgages— £ s. d. Overdue .. .. .. 757 14 1" Accrued .. .. .. 736 13 11 1,494 8 0 | Profit and Loss Account .. .. .. 1,212 17 4 Cash in hand and in bank at 31st March, 1925 .. 53 5 2 £75,595 1 3 | £75,595 1 3 * This amount includes the sum of £926 2s. Bd. capital paid into the sinking fund in accordance with the Public Debt Extinction Act, 1910. Statement of Profit and Loss Account for the Year ended 31st March, 1925. Dr. £ s. d. Cr. £ s. d. To Management Expenses Account .. .. 115 0 0 By Interest Account —Gross profits .. .. 321 10 8 Balance—Net profits for the year .. .. 206 10 8 £321 10 8 £321 10 8 £ s. d. £ s. d. To Balance as at 31st March, 1924 .. .. 8,919 8 0 By Net profits for the year .. .. .. 206 10 8 Principal moneys written off —Freed from liability .. .. .. .. .. 7,500 0 0 Balance .. .. .. .. .. 1,212 17 4 £8,919 8 0 j £8,919 8 0 Statement of Interest Account for the Year ended 31st March, 1925. Dr. £ s. d. £ s. d. Cr. £ s. d. £ s. d. To Interest on loans .. .. 3,478 17 1 By Interest on mortgages .. 2,459 11 2 Less accrued at 31st March, 1924 301 6 7 Less overdue and accrued at — 3,177 10 6 31st March, 1924 .. .. 1,479 2 1 Interest on loans accrued but not due .. 269 5 7 — 980 9 1 Balance—Gross profits transferred to Profit and Interest on bank balances .. .. .. 4 15 0 Loss Account .. .. . . .. 321 10 8 Interest on temporary advances to Settlers Branch .. .. .. 1,288 14 8 Interest on mortgages— Overdue at 31st March, 1925 757 14 1 Accrued but not due a.t 31st March, 1925 .. .. 736 13 11 1,494 8 0 £3,768 6 9 £3,768 6 9 Statement of Management Expenses Account for the Year ended 31st March, 1925. Dr. £ s. d. 1 Cr. £ s. d. To Administration expenses .. .. .. 115 00j By Balance transferred to Profit and Loss Account 115 0 0 £115 0 0 | £115 0 0 Wm. Waddel, Superintendent. State Advances Office, Wellington, 11th June, 1925. K. Robertson, Accountant. The Audit Office, having examined the balance-sheet and accompanying accounts and compared them with the relative books, documents, and securities, hereby certifies them to be in accordance therewith. —G. F. C. Campbell, Controller and Auditor-General.

B.—l [PT. IY, SUP.] .

STATE ADVANCES OFFlCE—continued. FISHING INDUSTRY PROMOTION ACCOUNT. Statement of Liabilities and Assets as at 31st March, 1925. Liabilities. £ s. d. £ s. d. Assets. £ s d. Sundry loans .. .. .. 5,57-1 8 11 Investment Account—Principal owing on bills of Less loan-moneys written off .. 359 8 11 sale .. .. .. .. .. 2,635 8 10 5,215 0 0 Temporary advances to Settlers Branch .. 2,165 0 0 Suspense Account .. .. .. .. 36 1 0 Sinking Fund investments held by Public Debt Interest on loans accrued but not due .. .. 77 11 11 Sinking Fund Branch .. .. .. 43 13 8* Sinking Fund .. .. .. .. 210 3 Interest on bills of sale— £s. d. Overdue .. .. . . 67 10 9 Accrued .. .. .. 34 5 0 101 15 9 Sundry debtors .. .. .. .. 32 0 6 Realization Account .. .. .. . . 0 4 7 Profit and Loss Account .. .. .. 314 16 5 Cash in hand and in bank at 31st March, 1925 . . 38 3 5 £5,331 3 2 £5,331 3 2 * This amount includes the sum of £41 3s. sd. capital paid into the sinking fund in accordance with the Public Debt Extinction Act, 1910. Statement of Profit and Loss Account for the Year ended 31st March, 1925. Dr. £ s. d. Cr. £ s. d. To Balance —Interest. Account .. .. .. 17 1 8 By Balance —Loss for the year .. .. .. 218 13 8 Management Expenses Account .. .. 16 18 0 Loss on realization of securities .. .. 184 14 0 £218 13 8 £218 13 8 £ s. d. £ s. d. To Balance as at 31st March, 1924 .. .. 453 11 8 By Principal moneys written oft—Freed from liability 359 8 11 Loss for the year .. .. .. . . 218 13 8 Balance .. .. .. .. .. 314 16 5 £674 5 4 £674 5 4 Statement of Interest Account for the Year ended 31st March, 1925. Dr. £ s. d. £ s. d. Cr. £ s. d. £ s. d. To Interest on loans .. .. .. 251 011 By Interest on bills of sale .. .. 132 18 9 Less accrued at 31st March, 1924 .. 82 18 5 Loss overdue and accrued at 31st 168 2 6 March, 1924 .. .. .. 103 15 5 Interest on loans accrued but not due .. .. 77 11 11 29 3 4 Interest on bank balances .. .. .. 5 0 0 Interest on temporary advances to Settlers Branch 92 13 8 Interest on bills of sale— Overdue at 31st March, 1925 .. 67 10 9 Accrued but not due at 31st March, 1925 .. .. .. 34 5 0 101 15 9 Balance transferred to Profit and Loss Account .. 17 1 8 £245 14 5 £245 14 5 Statement of Management Expenses Account for the Year ended 31st March, 1925. Dr. £ s. d. Cr. £ s. d. To Administration expenses .. .. .. 15 0 0 By Balance transferred to Profit and Loss Account .. 16 18 0 Survey fees .. .. .. .. 1 18 0 £16 18 0 £16 18 0 Wm. Waddel, Superintendent. State Advances Office, Wellington, 11th June, 1925. R. Robertson, Accountant. The Audit Office, having examined the balance-sheet and accompanying accounts and compared them with the relative books, documents, and securities, hereby certifies them to be in accordance therewith.—G. F. C. Campbell, Controller and Auditor-General.

B.—l [PT. IV, SUP.] .

NEW ZEALAND STATE COAL-MINES. Balance-sheet. Statement of Liabilities and Assets as at 31st March, 1925. Liabilities. £ s. d. £ s. d. | Assets. £ s. d. £ s. d. £ s. d. Loan under Coal-mines | Liverpool Colliery and DevelopAct, 1908 .. .. 150,000 0 0 ment Property Account— Loan under Coal-mines Balance at 31st March, Act, 1908, and Appro- 1924 .. .. .. 82,974 8 8 priation Act, 1912 .. 25,000 0 0 Additions during the year 14,996 18 8 New Zealand Consoli- — dated Inscribed Stock 52,601 0 7 97,971 7 4 227,601 0 7 Depreciation.. .. 28,022 3 7 Sinking fund .. .. .. 41,668 12 2 69,949 3 9 Accrued interest .. .. 3,886 1 9 Machinery, plant, ropes, and Sundry creditors— rolling-stock— Liverpool Colliery .. 9,195 2 11 Balance at 31st March, 1924 37,589 11 10 James Colliery .. 2,629 19 3 Additions during the year 853 14 3 Wellington Depot .. 527 19 8 Christchurch Depot .. 1,329 17 7 38,443 6 1 Wanganui Depot .. 240 810 Depreciation .. .. 3,844 6 7 13,923 8 3 — 34,598 19 6 Reserves— Buildings at mine— General Reserve .. 67,359 12 7 Balance at 31st March, Bad-debts Reserve .. 368 10 3 1924 .. .. 3,656 7 7 67,728 2 10 Additions during the year 642 7 5 Contracts Deposit Account .. .. .. 1,010 0 0 4,298 15 0 Stocks, &c., writing-off Depreciation .. .. 429 17 6 Suspense Account .. .. 1,129 18 3 3,868 17 6 General Profit and Loss Cottages at mine— Account — Balance at 31st March, 1924 6,136 18 0 Net profit for year .. .. 82 1 3 0 Less loss by fire .. 80 0 0 6,056 18 0 Depreciation .. .. 605 13 10 5,451 4 2 Plantation at mine .. .. 1,094 15 0 Coal (cargo afloat ) .. 347 11 1 Coal (stock on hand at mine and wharf) .. .. 3,268 12 9 Stores (stock on hand) .. 13,585 17 5 17,202 1 3 Stock Suspense Account .. .. 79 15 8 Sundry debtors .. .. .. 5,102 12 5 137,347 9 3 James Colliery and Development Property Account— Balance at 31st March, 1924 32,415 14 4 Additions during the year .. 476 3 2 32,891 17 6 Depreciation.. .. 3,289 3 9 ———29,602 13 9 Machinery, plant, ropes, and rolling stock— Balance at 31st March, 1924 11,123 11 10 Additions during the year 1,130 0 2 12,253 12 0 Depreciation .. .. 1,225 7 2 11,028 4 10 Buildings at mine— Balance at 31st March, 1924 1,021 6 3 Additions during the year 359 19 0 1,381 5 3 Depreciation . . 138 2 6 1,243 2 9 Cottages at mine .. .. .. 6 2 0 Preliminary Expenses Account .. •.. .. .. 1,103 8 6 Coal stocks .. .. 297 11 6 Coal stocks (cargo afloat) .. 135 5 9 Stocks Suspense Account .. 239 7 0 672 4 3 Sundry debtors .. .. .. 346 0 9 44,001 16 10 Mac Donald Colliery and Development Property Account— Cost at 31st March, 1924 .. 68,214 9 8 Additions during the year .. 2,875 16 8 71,090 6 4 Machinery, plant, and rol-ling-stock— Cost at 31st March, 1924 4,083 8 9 Less sales during the year 1,152 14 11 — 2,930 13 10 Buildings at mine— Cost at 31st March, 1924 .. 479 17 3 Cottages at mine— Cost at 31st March, 1924 2,199 5 6 Less recoveries during the year .. 66 2 0 2,133 3 6 Carried forward .. .. 357,768 6 10 1 181,349 6 1

B.—l [PT. IV, SUP/ .

NEW ZEALAND STATE COAL-MlNES—continued. Balance-sheet —continued. Liabilities—continued. £ s. d. i Assets —continued. Brought forward .. .. 357,768 6 10 J MaeDonald Colliery and Development Property Account—continued. Plantation at mine— £ s. d.l £ s. d. f s. d. Cost at 31st March, 1924 547 10 8., Expended during the year 280 0 9 827 11 5 77,401 12 4 Wellington Depot Property Account— Balance at 31st March, 1924 2,454 9 9 Additions during the year .. 1,551 6 0 4,005 15 9 Depreciation .. .. 448 14 .7 — 3,557 1 2 Writing-off suspense .. .. 93 11 8 Stocks on hand .. .. 4,062 19 4 Stocks Suspense Account .. 210 10 10 4,273,10 2 Sundry debtors .. .. .. 8,189 10 10 16,113 13 10 Christchurch Depot Property Account— Balance at 31st March, 1924 3,069 1 2 Additions during the year .. 485 3 9 3,554 4 11 Depreciation .. .. 248 5 9 3,305 19 2 Writing-off Suspense .. .. 62 10 11 Stocks on hand .. .. 3,453 17 5 Stocks Suspense Account .. 588 8 6 — 4,042 5 11 Sundry debtors .. .. .. 4,712 7 2 12,123 3 2 Wanganui Depot Property Account— Balance at 31st March, 1924 1,399 5 4 Additions during the year .. 158 3 11 1,557 9 3 Depreciation .. .. ]38 4 3 1,419 5 0 Writing-off Suspense .. .. 12 4 11 Stocks on hand .. .. 1,190 14 0 Stocks Suspense Account .. 33 14 6 1,224 8 6 Sundry debtors .. .. .. 3,293 6 9 5,949 5 2 Sinking Fund Investment Account .. .. .. 41,668 12 2 Investment Account (ordinary) .. .. .. 10,000 0 0 Interest on investments accrued .. .. .. 214 19 1 Cash in hand and in Public Account at 31st March, 1925 12,887 15 0 £357,768 6 10 £357,768 6 10 P. G. Pearce, Accountant. G. Jas. Anderson, Minister of Mines. State Coal-mines Office, Wellington, 17th August, 1925. I hereby certify that the attached Working and Profit and Loss Accounts of Depots and Collieries, General Profit and Loss Account, Statement of Receipts and Payments, and balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, except that in the opinion of the Audit Office interest on capital expenditure on the unopened Mac Donald Colliery should be charged to General Profit and Loss Account instead of being capitalized, as development was sufficiently completed several years ago.—J. H. Fowler, Deputy Controller and Auditor-General. Statement of General Profit and Loss Account for the Year ended 31st March, 1925. Dr. Cr. To Liverpool Colliery Trade Ex- £ s. d. £ s. d. By Liverpool Colliery Working £ s. d. £ s. d. penses Account .. .. 119,047 19 3 Account—Gross profit .. 97,646 5 10 James Colliery Trade Ex- James Colliery Working Account penses Account .. .. 23,616 15 9 —Gross profit .. .. 19,841 16 2 Wellington Depot Trade Ex- Wellington Depot Trading Acpenses Account .. .. 8,916 6 7 count—Gross profit .. 9,531 15 4 Christchurch Depot Trade Ex- Christchurch Depot Trading penses Account .. .. 6,416 12 6 Account—Gross profit .. 7,542 9 9 Wanganui Depot Trade Ex- Wanganui Depot Trading Acpenses Account .. .. 1,889 13 2 count—Gross profit .. 2,052 3 2 159,887 7 3 1 Seddonville Colliery —Recoveries 138 3 8 Balance —Net profit for year .. 821 3 0 Point Elizabeth Colliery —Recoveries .. .. 1,298 4 0 Liverpool Colliery—Rents .. 666 3 4 138,717 1 3 Interest on investments .. .. 2,307 15 7 Transfer from General Reserve .. 19,683 13 5 £160,708 10 3 £160,708 10 3

B.—l [PT. IY, SUP.].

NEW ZEALAND STATE COAL-MlNES—continued. Statement of Liverpool Colliery Working Account for the Year ended 31st March, 1925. Dr. £ s. d. £ s. d. j Cr. £ s. d. £ g. d« To Stock on hand at 31st March, By Sales of coal .. .. 168,294 12 5 1924 .. .. .. .. 4,084 1 7 Sales of stores and hire of plant 7,154 12 8 Coal-winning— 175,449 5 1 Wages .. .. . . 61,064 12 4 Stock of coal on hand at 31st Stores and materials used .. 5,982 8 6 March, 1925, at mine and Railway tickets .. .. 519 11 0 wharf .. .. .. 3,268 12 9 Special trains .. .. 2,752 2 6 Cargo afloat .. .. 347 11 1 Stores and plant sales (at cost) 5,644 7 9 3,616 3 10 Coal purchased .. .. 358 Oil Special rate .. .. 1,013 18 6 77,335 1 6 Balance—Gross profit .. .. 97,646 5 10 £179,065 8 11 £179,065 8 11 Statement of Liverpool Colliery Profit and Loss Account for the Year ended 31st March, 1925. Dr. £ s. d. £ s. d. Cr. £ s. d. To Management and office salaries 3,158 0 5 By Gross profit at mine .. .. .. 97,646 510 Interest .. .. .. 5,501 16 7 Rents .. .. .. .. .. 666 3 4 Travelling-expenses .. 163 16 2 Transfer from General Reserve .. .. 19,683 13 5 Printing and stationery .. 220 10 4 Balance—Net loss .. .. .. 1,051 16 8 Repairs and maintenance . . 6,011 12 6 Telegrams and postages . . 183 16 11 Railway haulage .. .. 13,971 15 8 Insurances.. .. .. 453 2 6 Compensation for accidents .. 5,033 15 1 Sick and Accident Fund .. 294 1 6 General expenses .. .. 439 8 3 Marine freights .. .. 47,547 6 4 Audit fees .. . . 125 0 0 Wharfage .. .. .. 3,041 15 6 Depreciation—Mine, buildings, plant, and machinery .. 32,902 1 6 — 119,047 19 3 £119,047 19 3 £119,047 19 3 Statement of James Colliery Working Account for the Year ended 31st March, 1925. Dr. £ s. d. £ s. d. Or. £ s. d. £ s. d. To Stock on hand at 31st March, By Sales of coal .. .. .. .. 40,886 14 6 1924 .. .. .. .. 1,079 4 7 Stock on hand at 31st March, 1925, Coal-winning— at mine and wharf .. ..297 11 6 Wages .. .. .. 18,619 15 7 Cargo afloat .. .. .. 135 5 9 Stores and materials used .. 960 19 7 432 17 3 Subsidized bus-fares, &c. .. 187 8 6 Coal purchased .. .. 32 0 5 Special rate .. .. 201 3 6 Royalty .. .. 397 3 5 20,398 11 0 Balance—Gross profit .. .. 19,841 16 2 £41,319 11 9 £41,319 11 9 Statement op James Colliery Profit and Loss Account for the Year ended 31st March, 1925. Dr. £ s. d. Cr. £ s. d. To Management and office salaries .. .. 749 11 0 By Gross profit at mine .. .. .. 19,841 16 2 Rents .. .. .. .. .. 20 16 8 Balance —Net loss .. .. .. 3,774 19 7 Interest .. .. .. .. 1,827 11 0 Travelling-expenses .. .. .. 43 9 9 Printing and stationery .. .. .. 54 16 6 Repairs and maintenance .. .. .. 496 3 11 Telegrams and postages .. .. .. 45 12 7 Railway haulage .. .. .. .. 2,326 2 5 Insurance . . .. .. .. 29 6 1 Compensation . . .. .. .. 386 5 2 Sick and Accident Fund .. .. .. 7113 7 General expenses .. .. . . 103 19 9 Marine freights .. .. .. .. 12,180 3 5 Audit fees .. .. .. .. 25 0 0 Wharfage .. .. .. .. 603 10 6 Depreciation .. .. .. .. 4,652 13 5 £23,616 15 9 £23,616 15 9 Wellington Depot Trading Account for the Year ended 31st March, 1925. Dr. £ s. d. £ s. d. ; Cr. £ s. d. £ s. d. To Stocks on hand at 31st March, I By Sales of coal .. ..120,964 19 1 1924 .. .. .. .. 3,728 11 10 | Sales of firewood, coke, &c. .. 4,890 5 2 Purchases of coal .. .. 109,342 6 10 125,855 4 3 Purchases of firewood, coke, &c. 3,877 2 2 Stocks on hand at 31st March, 113,219 9 0 1925— Wharfage.. .. . . • • 1,217 1 5 Coal .. .. .. 2,583 18 8 Cartage to depot .. .. .. 1,585 15 6 Firewood, coke, &c. .. 1,143 16 7 Wages—Trimming .. .. 300 6 5 3,727 15 3 Balance—Gross profit . . . . 9,531 15 4 £129,582 19 6 £129,582 19 6

B.—-] [PT IY, SUP.] .

NEW ZEALAND STATE COAL-MINES —continued. Wellington Depot Profit and Loss Account toe the Year ended 31st March, 1925. Dr. £ s. d. £ s. d. Gr. £ »• d. ToWages .. .. .. 1,609 6 5 By Balance of Trading Account .. .. 9,531 15 4 Salaries .. .. .. 1,490 12 1 Rents .. .. .. 856 0 0 Rates .. .. .. 310 7 7 Interest .. .. .. 151 7 3 Travelling-expenses and allowances .. .. .. 21 15 11 Repairs and maintenance .. 344 5 8 Telegrams and postages .. 76 16 8 Printing and stationery .. 92 7 0 Insurances.. .. .. 38 0 8 Cartage .. .. .. 3,021 3 7 Sacks .. .. .. 58 2 7 Freights, &c. .. .. 60 8 4 General expenses .. .. 288 10 6 Audit fees .. .. 30 0 0 Bad debt .. .. .. 9 13 8 Depreciation .. .. 448 14 7 Compensation for accidents .. 8 14 1 8,916 6 7 Balance—Net profit ~ .. 615 8 9 £9,531 15 4 £9,531 15 4 Christchurch Depot Trading Account for the Year ended 31st March, 1925. Dr. £ s. d. £ s. d. Or. £ s. d. £ s. d. To Stocks on hand at 31st March, By Sales of coal .. .. 55,824 9 5 1924 .. .. .. .. 1,364 17 11 Sales of firewood, coke, &c. .. 1,120 19 11 Purchase of coal .. ..39,328 16 5 — 56,945 9 4 Purchases of firewood, coke, &c. 577 18 5 Stocks on hand at 31st March, 39,906 14 10 1925— Haulage to depot .. .. .. 11,480 19 11 Coal .. .. 3,166 8 6 Wages—Discharging .. . . .. 205 5 5 Eirewood, coke, &c... .. 388 10 0 Gross profit .. .. .. .. 7,542 9 9 3,554 18 6 £60,500 7 10 £60,500 7 10 Christchurch Depot Profit and Loss Account for the Year ended 31st March, 1925. Dr. £ s. d. £ s. d. Gr. £ s. d. ToWages .. .. .. 1,102 13 11 By Balance of Trading Account .. .. 7,542 9 9 Salaries .. .. .. 868 4 10 Rents .. .. .. 113 10 0 Interest .. .. .. 133 13 5 Travelling-expenses .. .. 1 18 6 Repairs and maintenance .. 306 14 5 Telegrams and postages .. 47 17 1 Printing and-stationery .. 43 10 5 Insurances .. .. .. 9 17 6 Cartage .. .. .. 1,783 5 7 Sacks .. .. .. 81 10 3 Freights .. .. .. 4 3 5 General expenses .. .. 99 9 8 Audit fees .. .. .. 30 0 0 Compensation .. 1,503 9 5 Depreciation .. .. 248 5 9 Bad debts ...... 38 8 4 6,416 12 6 Net profit .. .. .. .. 1,125 17 3 £7,542 9 9 £7,542 9 9 Wanganui Depot Trading Account for the Year ended 31st March, 1925. Dr. £ s. d. £ s. d. Gr. £ s. d. £ s. d. To Stocks on hand at 31st March, By Sales of coal .. .. 27,017 1 4 1924 .. .. .. .. 1,165 19 10 Sales of firewood, coke, &c. .. 703 11 9 Purchases of coal .. .. 24,480 12 8 — 27,720 13 1 Purchases of firewood, coke, &c. 500 17 2 Stocks on hand at 31st March, 24,981 9 10 1925— Haulage to depot .. .. . . 653 17 7 Coal .. .. .. 977 19 0 Wages—Discharging .. .. . . 25 8 8 Firewood, coke, &c. . . , 180 7 0 Gross profit .. . , . , ~ 2,052 3 2 1,158 6 0 £28,878 19 1 j £28,878 19 1

B.—l [PT. IV, SUP.] .

NEW ZEALAND STATE COAL-MINES —continued. Wanganui Depot Profit and Loss Account foe the Yeah ended 31st March, 1925. Dr. £ s. d. £ s. d. Gr. £ s. d. ToWages .. .. .. 417 6 8 By Balance of Trading Account .. .. 2,052 3 2 Salaries .. .. .. 450 12 9 Rents .. .. .. 210 3 4 Interest .. .. .. 59 6 4 Travelling-expenses .. .. 6 8 4 Repairs and maintenance .. 45 18 2 I Telegrams and postages .. 35 8 6 Printing and stationery .. 19 3 5 Insurance .. .. .. 5 17 8 Cartage .. .. .. 397 14 2 Sacks .. .. .. 19 5 9 Freights, &c... .. .. 2 13 6 General expenses .. .. 62 7 10 Audit fees .. .. .. 17 0 0 Depreciation .. .. 138 4 3 Compensation .. .. 2 2 6 1,889 13 2 Net profit .. .. .. .. 162 10 0 £2,052 3 2 £2,052 3 2 Statement of Receipts and Payments for the Year ended 31st March, 1925. Receipts. Expenditure. £ s. d. £ S: d. By James Colliery— £ s. d. £ s. d. To Cash in hand and in Property and development .. 312 18 0 Public Account at Machinery, plant, and rolling-stock .. 754 12 6 31stMarch, 1924 .. .. 17,389 7 5 Buildings .. .. .. 203 12 10 Proceeds of sale of coal 254,967 14 10 Cottages .. .. .. 6 2 0 Recoveries, refunds,&c. 11,849 0 9 Wages .. .. .. .. 18,734 17 8 266,816 15 7 Special rate .. .. .. 205 3 3 Contracts —deposits 40 0 0 Coal purchased .. .. .. 33 3 10 Refunds .. .. 100 0 0 Subsidized bus-fares .. .. 191 8 0 -— — 140 0 0 20,441 18 1 Investments realized 17,500 0 0 Liverpool Colliery— Interest .. .. 974 4 11 Property and development .. 13,190 11 0 18,474 4 11 Buildings .. .. .. 299 5 10 Plantation .. .. .. 1,045 14 8 Stores and materials .. .. 23,207 310 Wages .. .. .. 61,085 13 2 Special rate .. .. .. 1,065 13 3 Railway tickets .. .. .. 1,938 0 9 Special trains .. .. .. 2,802 10 0 Coal purchased .. .. .. 301 7 6 104,936 0 0 Mac Donald Colliery Property and development .. 33 0 0 Machinery, plant, and rolling-stock .. 38 14 4 Cottages .. .. .. 6 8 2 Plantation .. .. .. 280 0 9 358 3 3 Seddonville Colliery Account .. .. 37 19 2 Wellington Depot Account .. .. 18,044 8 11 Christchurch Depot Account.. .. 19,16 i 5 6 Wanganui Depot Account .. .. 4,631 12 10 41,837 7 3 Management and office salaries .. 5,207 2 4 Interest .. .. .. .. 9,251 19 2 Travelling-expenses .. .. 219 2 6 Printing and stationery .. .. 276 8 8 Repairs and maintenance .. .. 4,346 6 5 Wharfage .. .. .. 3,812 9 6 Railway haulage .. .. .. 18,758 711 Marine freights .. .. .. 61,483 1 3 Postages and telegrams .. .. 229 6 9 Insurances .. .. .. 482 8 7 Rents .. .. .. .. 119 13 4 Compensation .. .. .. 5,180 4 2 Sick and Accident Fund .. .. 147 9 4 General expenses .. .. .. 649 11 11 Investments —-general .. .. 7,500 0 0 Sinking fund investment .. .. 4,552 0 0 Audit fees .. .. .. 85 13 4 Contracts refunds .. .. .. 20 0 0 — 122,321 5 2 Cash in hand and in Public Account at 31st March, 1925 .. .. .. 12,887 15 0 £302,820 7 11 £302,820 7 11

10— B. 1 [PT. IY, SUP.] .

B.—l [PT. IY, Sup.] .

STATE FIRE INSURANCE OFFICE. Revenue Account of the State Fire Insurance Office for the Year ended 31st December, 1924. £ s. d. £ s. d. Premiums after deduction of reinsurances 165,070 1 5 Bonus rebate to policyholders .. .. 22,005 5 3 Other receipts—lnterest, commission, and # Losses by fire (after deduction of reinsurrent .. .. .. 25,229 19 2 ances) .. .. .. .. 60,817 6 11 Appropriated to reserve for unearned premiums (in addition to £61,665 16s. 9d. already reserved) .. .. .. 4,362 3 9 Government taxes .. .. .. 14,329 19 1 Commission.. .. .. .. 8,240 6 2 Salaries .. .. .. .. 20,647 2 8 Contribution to Public Service Superannuation Fund .. .. .. 518 18 8 Contributions to Fire Boards under the .Fire Brigades Act, 1908 .. .. 4,030 8 9 Agents' defalcations .. .. .. 179 5 8 Expenses of management — £ s. d. Travelling-expenses .. 1,642 0 7 Printing, stationery, and advertising.. .. 1,958 0 2 Bent .. .. 2,321 0 4 Exchange .. .. 34 7 3 Postages, telegrams, cablegrams, and sundry charges .. 3,059 19 2 9,015 7 6 Office equipment .. .. .. 2,767 18 1 Office premises—depreciation .. .. 3,254 10 9 150,168 13 3 Beinsurance Beserve Fund .. .. 5,000 0 0 Office premises—Written off .. .. 4,000 0 0 Amount of fire-insurance funds at end of year .. .. .. .. 31,131 7 4 £190,300 0 7 £190,300 0 7 Balance-sheet of the State Fire Insurance Office on the 31st December, 1924. Liabilities. Assets, £ s. d. £ s. d. £ s. d. Government war-loan securities .. 148,470 17 0 Capital authorized by the Other Government securities .. 65,550 0 0 State Eire Insurance Local-authority securities .. .. 5,700 0 0 Act, 1908 .. .. 100,000 0 0 Eixed deposits and at short call .. 30,000 0 0 Less not raised .. 100,000 0 0 £ s. d. Nil. Land and buildings .. 225,800 2 1 Beserve Fund .. .. .. 381,847 3 11 Less mortgages taken Investments Fluctuation Beserve Fund.. 10,000 0 0 over on Office preBeserve for unearned premiums .. 66,028 0 6 mises purchased .. 7,000 0 0 Beinsurance Beserve Fund .. .. 10,000 0 0 218,800 2 1 Premiums and other deposits .. .. 1,068 10 0 Outstanding premiums .. .. 6,981 16 0 Outstanding fire losses .. .. 3,467 0 0 Interest accrued but not due .. .. 2,493 8 2 Government taxes .. .. .. 14,329 19 1 Bent accrued or due .. .. .. 150 2 5 Sundry creditors .. .. .. 252 15 8 Cash in Bank of New ZeaOther amounts owing by the Office — land at Wellington, or in £ s. d. Beinsurance premiums £ s. d. transit to Wellington .. 51,803 6 0 due .. .. 9,645 11 6 Imprest Account Commission .. .. 1,614 3 5 balances — £ s. d. Bent .. .. ■ • 34 6 9 Head Office 41 11 0 Printing, stationery, and Auckland .. 68 9 5 advertising .. .. 17 4 10 Hamilton .. 20 4 9 Postages and sundry N. Plymouth 37 0 3 charges .. .. 847 1 4 Palmerston N. 0 2 2 12,158 7 10 Christchurch 15 15 10 Fire-insurance funds, as per Bevenue Ac- Dunedin .. 60 6 6 count .. • • ■ ■ 31,131 7 4 Invercargill 87 14 2 Napier ..287 333 12 8 52,136 18 8 £530,283 4 4 £530,283 4 4 Ist April, 1925. J. H. Jerram, General Manager. C. B. Redward, Accountant. I hereby certify that the Revenue Account and balance-sheet have been duly examined and compared with the books and documents submitted for audit, and correctly state the position as disclosed thereby. —G. F. C. Campbell, Controller and Auditor-General.

B.—l [PT. IY, Sup.] .

TEACHERS' SUPERANNUATION FUND. REVENUE ACCOUNT foe the Year ended 31st January, 1925. £ s. d. £ s. d. To Balance, 31st January, 1924 .. 858,661 18 10 By Retiring and other allowances .. 126,232 8 4 Contributions of members .. .. 110,861 13 2 Contributions refunded— Additional contribution from Fiji Go- On voluntary retire- £ s. d. vernment .. .. .. 163 11 9 ment .. .. 14,270 14 7 Government subsidy- — £ s. d. On death of member 3,577 12 4 Under the Act .. 43,000 0 0 On lapse of memberAdditional grant .. 25,000 0 0 ship .. .. 1,520 010 ■ 68,000 0 0 19,368 7 9 Interest— Contributions transferred to other funds 92 19 6 On investments .. 53,338 410 Administration expenses— £ s. d. On contributions in Commission, G.P.O. 345 1 6 arrears .. 350 13 11 Commission, Public — 53,688 18 9 Trustee.. .. 1,333 7 10 Office expenses .. 89 3 6 Postage and telegrams .. .. 67 11 3 Travelling - expenses of Board members 105 9 11 Clerical assistance .. 900 0 0 Medical fees .. 36 3 0 Audit fees .. 50 0 0 —— 2,926 17 0 Balance, 31st January, 1925 .. 942,755 9 11 £1,091,376 2 6 £1,091,376 2 6 COST-OF-LIVING BONUS ACCOUNT FOR THE YEAR ENDED 31st JANUARY, 1925. £ s. d. £ s. d. To Refund from Consolidated Fund .. 6,113 0 3 By Balance due from Consolidated Fund, Balance due from Consolidated Fund, January, 1924 .. .. .. 1,260 17 10 31st January, 1925 .. .. 331 18 11 Payment of bonus .. .. 5,184 1 4 £6,444 19 2 £6,444 19 2 BALANCE-SHEET as at 31st January, 1925. Liabilities. £ s. d. Assets. £ a. d Fund as per Revenue Account .. 942,755 911 Amount held by Public Retiring and other allowances due and Trustee — £ s. d. unpaid .. .. .. .. 1,268 0 9 Invested .. .. 900,364 110 Refund of contributions due and unpaid 1,893 3 5 Uninvested .. .. 47,491 14 9 Administration expenses unpaid— 947,855 16 7 Commission, Post and Tele- £ s. d. Contributions of members— graph Department .. 122 0 0 In transit .. .. 6,207 7 1 Clerical assistance .. 750 0 0 Due and outstanding .. 3,560 9 3 Postage and telegrams 53 11 3 9,767 16 4 Office expenses, printing, Interest on investments— and stationery .. 20 2 6 Due and outstanding .. 2,788 19 6 Medical fees .. .. 11 11 0 Accrued, but not due 13,814 1 0 Audit fee .. .. 41 13 4 — 16,603 0 6 998 18 1 Interest on arrears of contributions due Reserve for commission payable to Public and outstanding .. .. .. 174 4 4 Trustee in respect to interest due or Consolidated Fund, on account of cost-of-accrued .. .. .. .. 415 0 0 living bonus .. .. .. 331 18 11 Unclaimed contributions .. .. 1,573 0 5 Amounts overpaid— Amounts held pending legislation .. 339 15 10 Refund of contributions .. .. 3 0 0 Amounts overpaid or paid into fund in error .. .. .. .. 3 2 8 Government subsidy—Sta- £ s. d. tutory grant paid in advance to 31st December, 1925 .. .. 39,416 13 4 Less portion of additional subsidy (£25,000) voted for year to 31st March, 1925, not paid at 31st January .. .. 20,833 6 8 18,583 6 8 Vouchers issued but unpaid at 31st January, 1925 .. 9,064 2 6 Less cash in hands of Post Office .. .. 2,158 3 7 6,905 18 11 £974,735 16 8 £974,735 16 8 C. E. Crawford, A.1.A.N.Z., Education Department, Secretary, Teachers' Superannuation Board. Wellington, 30th April, 1925. I hereby certify that the Revenue Account and balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.—G. F. C. Campbell, Controller and Auditor-General.

11— B. 1 [PT. IV, Sup.] .

B.—l [PT. IY, Sup.].

TREASURY DEPARTMENT. Income and Expenditure Account foe the Year ended 31st March, 1925. Expenditure. I Income. £ s. d. To Administrative charges— £ s. d. £ s. d. IBy Inscribed stock fees, &c. .. .. 1,071 15 6 Salaries .. .. 22,802 10 6 Exchange and commission .. .. 17,903 3 11 Allowances, overtime,&c. 296 0 4 { Balance carried down .. .. 41,483 1 2 Office expenses .. 87 13 3 Postages, &e. .. 2,249 2 0 Telephone subscriptions 158 18 4 Printing and stationery 4,650 5 4 Office requisites, repairs, &c. .. .. 282 13 6 Travelling-expenses .. 294 111 Telegrams beyond Dominion .. .. 1,202 12 7 Annual rental value of premises (a) .. 2,145 0 0 34,168 17 9 Refunds of unclaimed money .. 51 13 10 Interest coupons lost in transit . . 3 7 6 Compassionate allowance .. .. 490 9 0 Premium paid to Wheat Account .. 9,948 0 0 j Expenses collection worn silver coin .. 654 11 0 Depreciation .. .. .. 188 7 4 j Consolidated stock management charges 14,952 14 2 £60,458 0 7 | £60,458 0 7 £ s. d. | By Recoveries on account of expenditure £ s. d. To Balance brought down .. .. 41,483 1 2 j of previous years .. .. 57 0 0 Interest on capital (b) .. .. 97 19 3 Excess of expenditure over income .. 41,524 0 5 £41,581 0 5 ! £41,581 0 5 Notes. —The following charges are included for which the Department possesses no parliamentary appropriation : — (a.) Rental value as assessed by Public Works Department. (6.) Interest at 4| per cent, on capital as at Ist April, 1924. Depreciation has been allowed for on balances of assets as at Ist April, 1924, the total charge being carried to Depreciation Reserve. Credit has been taken without appropriation for value of furniture transferred to other Departments. Balance-sheet as at 31st March, 1925. Liabilities. £ s. d. Assets. £ s. d. Capital as at Ist April, 1924 .. .. 2,176 18 6 Office furniture, fittings, and equipment .. 1,200 11 3 Sundry creditors for outstanding expenses 1,488 9 5 Mechanical appliances .. .. .. 1,063 12 0 Depreciation reserve .. .. .. 645 19 7 Library .. .. .. .. 70 18 5 Treasury Adjustment Account .. .. 39,764 16 6 Stock of stamps .. .. .. 415 8 Writings-off in suspense .. .. 118 6 Sundry debtors .. • .. .. 193 16 9 Expenses paid in advance .. .. 18 9 6 Excess of expenditure over income .. 41,524 0 5 Suspense Account .. .. .. 1 18 6 £44,078 2 6 £44,078 2 6 A. D. Park, Accountant to the Treasury. The Treasury, Wellington, Bth July, 1925. I hereby certify that the Income and Expenditure Account and balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the above departmental notes. —J. H. Fowler, Deputy Controller and Auditor-General.

B.—l [PT. IY, Sup.] .

VALUATION DEPARTMENT. Income and Expenditure Account for the Year ended 31st March, 1925. Expenditure. £ s. d. Income. £ s. d. Advertising, books, newspapers, and other Fees charged for valuers' reports, &c. .. 29,187 13 2 publications .. .. .. 94 0 1 Contributions from— Assessment Court expenses .. .. 193 14' 4 Local bodies .. .. .. 6,133 3 4 Depreciation on office furniture, fittings, Land and Income-tax Department .. 6,133 3 4 and equipment .. ~ .. 265 11 7 State Advances Office .. .. 1,125 0 0 Fees to valuers .. .. .. 9,232 15 4 Interest on advances for motor-cars sold 35 ID 10 Freight, cartage; and transport charges .. 011 6 Balance carried down.. .. .. 11,418 14 11 Fuel, light, power, and water .. .. 40 0 11 Law-costs .. .. .. .. 14 8 9 Loss on stores carried to Suspense .. 39 19 3 Maps, tracings, and schedules of land transactions .. .. .. 183 2 10 Office-cleaning .. .. .. 18 18 0 Office expenses .. .. .. 230 0 8 Overtime and meal allowances.. .. 25 12 0 Payment to Post and Telegraph Department .. .. .. 100 0 0 Printing and stationery .. .. 783 9 10 Postage, telegrams, and rent of boxes .. 583 0 11 Rent .. .. .. .. 2,472 8 9 Revision of districts .. .. .. 213150 Salaries .. .. .. .. 30,475 2 6 Telephone services .. .. .. 398 5 4 Temporary assistance .. .. 3,21816 6 Transfer and removal expenses of officers 5 4 6 Travelling allowances and expenses .. 5,421 11 11 Typewriter repairs .. .. .. 23 4 1 £54,033 14 7 £54,033 14 7 £ s. d. Balance brought down, exclusive of interest 11,418 14 11 Excess of expenditure over income after £ s. d. Interest .. .. .. .. 8371111 charging interest .. .. 12,256 610 £12,256 6 10 £12,256 6 10 Balance-sheet as at 31st March, 1925. Liabilities. i Assets. £ s. d. £ s. d. £ s. d. Capital as at Ist April, 1924 .. .. 18,613 4 10 I Office furniture, fittings, Sundry creditors .. .. .. 8,848 16 4 j and equipment .. 2,365 14 0 Depreciation reserve .. .. .. 1,167 8 4 { Add additions .. .. 22 7 3 Writings-off in suspense .. .. 39 19 3 I 2,388 1 3 Treasury Adjustment Account.. 12,555 4 11 j Mechanical appliances .. 871 0 6 Add additions .. .. 61 9 9 932 10 3 Less removals .. .. 13 1 8 919 8 7 Office maps .. .. 15,376 10 4 Add additions .. 732 11 2 — — 16,109 1 6 Stationery .. .. .. 971 18 5 Sundry debtors — Local bodies .. 336 2 7 Land and Income Tax Department .. 6,133 3 4 Fees outstanding .. 1,722 2 5 Motor-cars (on open account) .. .. 362 16 11 8,554 5 3 Less bad and doubtful debts reserve .. 123 6 8 8,430 18 7 Telephone subscriptions prepaid .. 10 16 8 Unexpired season tickets .. .. 109 11 10 Post-office boxes prepaid .. .. 28 10 0 Excess of expenditure over income .. 12,256 6 10 £41,224 13 8 £41,224 13 8 F. W. Flanagan, Valuer-General. Valuation Department, Wellington, 11th September, 1925. I hereby certify that the Income and Expenditure Account and balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, except that—(l) The accounts include charges against the Department for rent and interest for which the Department possesses no parliamentary appropriation ; (2) the fees charged in the Income and Expenditure Account include the actual cost of valuations made for the State Advances Department, whilst only a scale charge is recovered, and the item " Sundry Creditors " is correspondingly understated. —J. H. Fowler, Deputy Controller and AuditorGeneral.

B.—l [PT. IY, Sup.] .

WESTPORT HARBOUR ACCOUNT. Revenue Account for the Year ended 31st March, 1925. Expenditure. £ s. d. Income. £ s. d. To Stock as at Ist April, 1924 .. .. 9,296 3 1 By Endowment revenue .. .. 14,911 11 9 Salaries .. .. .. .. 1,263 411 Special wharfage on coal .. .. 20,616 16 2 Dredging .. .. .. 7,908 9 8 Port charges .. .. .. 5,050 13 6 Harbour maintenance .. .. 3,195 9 6 Special coal rate .. .. .. 6,939 8 2 Working-expenses of tug .. .. 610 3 3 Rent .. .. .. .. 91 11 0 Compensation for accidents .. 7 113 Sale of surplus stores, &c. .. .. 2,071 18 1 Retiring-allowance .. .. 342 8 8 Interest on investments .. .. 494 19 4 Office expenses .. .. .. 219 11 10 Royalty on sand, &c. .. .. 143 2 9 Grant to School of Mines .. .. 25 0 0 Hire of plant .. .. .. 54 16 6 Audit fees .. .. .. 10 0 0 Miscellaneous receipts .. .. 3 13 9 Miscellaneous expenses .. .. 5 0 0 Stock as at 31st March, 1925 .. 8,341 9 9 Depreciation .. .. .. 3,015 010 Interest on loans .. .. .. 22,496 17 6 Balance carried down .. .. 10,325 0 3 £58,720 0 9 £58,720 0 9 £ s. d. £ s. d. To Transfer to sinking fund .. .. 4,613 3 3 By Balance brought down .. .. 10,325 0 3 Balance (excess income over expenditure for year carried down 5,711 17 0 £10,325 0 3 £10,325 0 3 £ s. d. £ s. d. To Balance brought forward from previous By Balance brought down .. .. 5,711 17 0 year .. .. .. .. 37,355 6 1 Transfer from Reserve Account .. 32,585 0 5 Special Coal Rate Account adjustment 941 11 4 £38,296 17 5 £38,296 17 5 Balance-sheet as at 31st March, 1925. Liabilities. £ s. d. Assets. £ s. d. Loan capital— Eastern Breakwater .. .. 202,142 0 0 Westport Harbour Board Act, 1884 .. 1,823 10 8 Western Breakwater .. .. 163,545 0 0 Westport Harbour Board Act, 1884, Training-walls .. .. .. 102,998 0 0 and Loan Acts, 1896, 1897, and Limestone quarry .. .. .. 128 0 0 1900 .. .. .. .. 294,117 12 11 Orowaiti protective works and Buller Westport Harbour Board Loan Act, relief channel .. .. .. 7,141 0 0 1908 .. .. .. .. 117,647 1 2 Floating basin .. .. .. 73,575 0 0 Appropriation Act, 1919, section 32 .. 30,495 0 0 Gridiron .. .. .. .. 2,196 0 0 Dredge wharf .. .. .. 2,790 0 0 444,083 4 9 Martin's Island .. .. .. 700 0 0 Reserve Account .. .. .. 55,650 5 6 Harbour buildings .. .. .. 4,619 0 0 Sinking Fund .. .. .. 104,991 13 7 Dredges, tug" Mana," &c. .. .. 25,361 0 0 Depreciation Reserve Account .. 12,060 3 2 Stock and stores .. .. .. 8,341 9 9 Sundry creditors—• £ s. d. Sundry debtors— £ s. d. Accrued interest .. 3,844 5 2 For interest, &c. .. 5,333 2 1 On open account .. 991 12 4 On open account .. 1,747 14 10 4,835 17 6 7,080 16 11 Treasury Advance Account .. .. 141,126 17 2 Sinking fund investments .. 104,991 13 7 Temporary investments .. 36,000 0 0 Cash— In Public Account .. 19,315 10 9 With High Commissioner, London .. 1,823 10 8 —— 21,139 1 5 £762,748 1 8 £762,748 1 8 G. C. Godfrey, Secretary. J. E. En gel, Accountant. I hereby certify that the Revenue Account and balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, except that the terms of section 7, Westport Harbour Act, 1920, require the whole charge for interest and sinking fund to be included in the accounts. —J. H. Fowler, Deputy Controller and Auditor-General.

Authority: W. A. G. Skinner, Government Printer, Wellington.—l92s.

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BALANCE-SHEETS AND STATEMENTS OF ACCOUNTS OF VARIOUS GOVERNMENT DEPARTMENTS. AUDITED ACCOUNTS., Appendix to the Journals of the House of Representatives, 1925 Session I, B-01-part05

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BALANCE-SHEETS AND STATEMENTS OF ACCOUNTS OF VARIOUS GOVERNMENT DEPARTMENTS. AUDITED ACCOUNTS. Appendix to the Journals of the House of Representatives, 1925 Session I, B-01-part05

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BALANCE-SHEETS AND STATEMENTS OF ACCOUNTS OF VARIOUS GOVERNMENT DEPARTMENTS. AUDITED ACCOUNTS. Appendix to the Journals of the House of Representatives, 1925 Session I, B-01-part05

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BALANCE-SHEETS AND STATEMENTS OF ACCOUNTS OF VARIOUS GOVERNMENT DEPARTMENTS. AUDITED ACCOUNTS. Appendix to the Journals of the House of Representatives, 1925 Session I, B-01-part05

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BALANCE-SHEETS AND STATEMENTS OF ACCOUNTS OF VARIOUS GOVERNMENT DEPARTMENTS. AUDITED ACCOUNTS. Appendix to the Journals of the House of Representatives, 1925 Session I, B-01-part05

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